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.

Table of Contents

Six Months Ended June 30, 2023
	Beginning Account Value 12/31/2022	Ending Account Value 6/30/2023	Expenses Paid During Period
Based on Actual Fund Return
Small-Cap Index Fund
Investor Shares	$1,000.00	$1,091.90	$0.88
ETF Shares	1,000.00	1,092.60	0.26
Admiral™ Shares	1,000.00	1,092.60	0.26
Institutional Shares	1,000.00	1,092.70	0.21
Institutional Plus Shares	1,000.00	1,092.70	0.16
Small-Cap Growth Index Fund
Investor Shares	$1,000.00	$1,148.50	$1.01
ETF Shares	1,000.00	1,149.10	0.37
Admiral Shares	1,000.00	1,149.00	0.37
Institutional Shares	1,000.00	1,149.20	0.32
Small-Cap Value Index Fund
Investor Shares	$1,000.00	$1,052.50	$0.97
ETF Shares	1,000.00	1,053.20	0.36
Admiral Shares	1,000.00	1,053.10	0.36
Institutional Shares	1,000.00	1,053.10	0.31
Based on Hypothetical 5% Yearly Return
Small-Cap Index Fund
Investor Shares	$1,000.00	$1,023.95	$0.85
ETF Shares	1,000.00	1,024.55	0.25
Admiral Shares	1,000.00	1,024.55	0.25
Institutional Shares	1,000.00	1,024.60	0.20
Institutional Plus Shares	1,000.00	1,024.65	0.15
Small-Cap Growth Index Fund
Investor Shares	$1,000.00	$1,023.85	$0.95
ETF Shares	1,000.00	1,024.45	0.35
Admiral Shares	1,000.00	1,024.45	0.35
Institutional Shares	1,000.00	1,024.50	0.30
Small-Cap Value Index Fund
Investor Shares	$1,000.00	$1,023.85	$0.95
ETF Shares	1,000.00	1,024.45	0.35
Admiral Shares	1,000.00	1,024.45	0.35
Institutional Shares	1,000.00	1,024.50	0.30

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 Small-Cap Index Fund, 0.17% for Investor Shares, 0.05% for ETF Shares, 0.05% for Admiral Shares, 0.04% for Institutional Shares, and 0.03% for Institutional Plus Shares; for the Small-Cap Growth Index Fund, 0.19% for Investor Shares, 0.07% for ETF Shares, 0.07% for Admiral Shares, and 0.06% for Institutional Shares; and for the Small-Cap Value Index Fund, 0.19% for Investor Shares, 0.07% for ETF Shares, 0.07% for Admiral Shares, and 0.06% 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).

Table of Contents

Small-Cap Index Fund

Fund Allocation

As of June 30, 2023

Basic Materials	4.0%
Consumer Discretionary	15.6
Consumer Staples	3.4
Energy	5.2
Financials	12.9
Health Care	11.9
Industrials	22.2
Real Estate	7.5
Technology	12.7
Telecommunications	1.3
Utilities	3.3

The table reflects the fund’s investments, except for 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.

Table of Contents

Small-Cap Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of June 30, 2023

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.

		Shares	Market Value• ($000)
Common Stocks (99.4%)
Basic Materials (4.0%)
	Reliance Steel & Aluminum Co.	1,518,615	412,441
	Steel Dynamics Inc.	2,073,901	225,910
^*	Cleveland-Cliffs Inc.	13,303,893	222,973
	Royal Gold Inc.	1,696,357	194,708
	Olin Corp.	3,380,220	173,709
	Hexcel Corp.	2,179,178	165,661
^*	RBC Bearings Inc.	749,651	163,027
	Commercial Metals Co.	3,025,049	159,299
	Alcoa Corp.	4,607,897	156,346
	Timken Co.	1,682,950	154,040
	UFP Industries Inc.	1,523,663	147,871
^*	Univar Solutions Inc.	4,074,496	146,030
	Chemours Co.	3,852,498	142,119
¹	Valvoline Inc.	3,586,356	134,524
	United States Steel Corp.	5,264,180	131,657
^*	Livent Corp.	4,641,155	127,307
	Mueller Industries Inc.	1,398,574	122,068
	Huntsman Corp.	4,507,057	121,781
	Balchem Corp.	832,452	112,223
	Element Solutions Inc.	5,612,026	107,751
	Ashland Inc.	1,227,450	106,678
	Cabot Corp.	1,450,233	97,006
	Avient Corp.	2,352,327	96,210
	Boise Cascade Co.	1,022,619	92,394
	Sensient Technologies Corp.	1,091,123	77,612
	Hecla Mining Co.	15,032,428	77,417
^*	Arconic Corp.	2,589,263	76,590
	Carpenter Technology Corp.	1,254,007	70,387
	NewMarket Corp.	174,065	69,995
^*	MP Materials Corp.	2,981,864	68,225
	Scotts Miracle-Gro Co.	1,086,227	68,096
	Quaker Chemical Corp.	348,309	67,885
	Innospec Inc.	642,384	64,521
	Materion Corp.	532,343	60,794

		Shares	Market Value• ($000)
	Worthington Industries Inc.	771,033	53,564
	Stepan Co.	548,175	52,384
^*	Ingevity Corp.	891,499	51,850
	Westlake Corp.	412,134	49,238
	Minerals Technologies Inc.	840,529	48,490
	Tronox Holdings plc	3,036,037	38,588
	Compass Minerals International Inc.	1,062,628	36,129
^*	Ecovyst Inc.	2,550,296	29,226
	Kaiser Aluminum Corp.	392,060	28,087
	GrafTech International Ltd.	4,972,778	25,063
^*	Coeur Mining Inc.	7,741,005	21,984
	Mativ Holdings Inc.	1,345,800	20,348
	Schnitzer Steel Industries Inc. Class A	633,649	19,003
	Koppers Holdings Inc.	511,072	17,428
^*	Century Aluminum Co.	1,311,571	11,437
^*,1	Amyris Inc.	3,342,214	3,442
			4,921,516
Consumer Discretionary (15.5%)
^*	Liberty Media Corp.-Liberty Formula One Class C	5,064,842	381,281
^*	Deckers Outdoor Corp.	680,867	359,266
	Aramark	6,731,225	289,779
^*	Five Below Inc.	1,437,664	282,558
^*	Floor & Decor Holdings Inc. Class A	2,607,593	271,085
^*	DraftKings Inc. Class A	10,139,798	269,414
	Wynn Resorts Ltd.	2,498,379	263,854
	Tapestry Inc.	5,987,150	256,250
	Churchill Downs Inc.	1,740,412	242,213
	Service Corp. International	3,709,326	239,585

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Small-Cap Index Fund

		Shares	Market Value• ($000)
^*	Norwegian Cruise Line Holdings Ltd.	10,955,604	238,504
	Hasbro Inc.	3,399,521	220,187
	Lear Corp.	1,523,814	218,744
^*	BJ's Wholesale Club Holdings Inc.	3,471,023	218,709
	Lithia Motors Inc. Class A	711,053	216,238
	Toll Brothers Inc.	2,717,067	214,839
	Bath & Body Works Inc.	5,615,258	210,572
	Whirlpool Corp.	1,414,263	210,428
	Williams-Sonoma Inc.	1,658,810	207,584
	Dick's Sporting Goods Inc.	1,537,473	203,239
^*	SiteOne Landscape Supply Inc.	1,161,928	194,460
	Texas Roadhouse Inc. Class A	1,730,533	194,304
	Interpublic Group of Cos. Inc.	4,985,419	192,337
^*	Skechers USA Inc. Class A	3,468,074	182,629
	Pool Corp.	478,923	179,424
^*	Mattel Inc.	9,142,272	178,640
	Gentex Corp.	6,036,336	176,623
^*	Alaska Air Group Inc.	3,303,767	175,694
^*	Crocs Inc.	1,521,986	171,132
	Tempur Sealy International Inc.	4,222,147	169,181
	Polaris Inc.	1,396,301	168,855
^*,1	GameStop Corp. Class A	6,689,885	162,230
^*	Light & Wonder Inc.	2,353,511	161,827
	New York Times Co. Class A	4,021,579	158,370
	Murphy USA Inc.	506,370	157,537
^*	AutoNation Inc.	942,462	155,139
	Wingstop Inc.	774,017	154,927
	Wyndham Hotels & Resorts Inc.	2,217,749	152,071
^*	American Airlines Group Inc.	8,431,203	151,256
^*	elf Beauty Inc.	1,319,398	150,715
^*	Planet Fitness Inc. Class A	2,194,311	147,984
	Nexstar Media Group Inc. Class A	879,903	146,548
^*	RH	427,059	140,754
^*,1	Wayfair Inc. Class A	2,124,664	138,124
^*	Bright Horizons Family Solutions Inc.	1,493,195	138,046
	PVH Corp.	1,621,798	137,804
^*	Caesars Entertainment Inc.	2,637,866	134,452
^*	Asbury Automotive Group Inc.	556,264	133,737

		Shares	Market Value• ($000)
	Hyatt Hotels Corp. Class A	1,148,148	131,555
	Vail Resorts Inc.	520,821	131,122
^*	Taylor Morrison Home Corp. Class A	2,677,275	130,571
	Thor Industries Inc.	1,244,110	128,765
	Meritage Homes Corp.	902,085	128,340
	U-Haul Holding Co. (XNYS)	2,511,304	127,248
	Boyd Gaming Corp.	1,826,612	126,712
	H&R Block Inc.	3,933,270	125,353
^*	Duolingo Inc. Class A	852,222	121,817
^*	Fox Factory Holding Corp.	1,092,666	118,565
	Ralph Lauren Corp. Class A	955,373	117,798
	Harley-Davidson Inc.	3,341,871	117,667
^*	Avis Budget Group Inc.	513,513	117,425
^*	Capri Holdings Ltd.	3,246,881	116,531
	World Wrestling Entertainment Inc. Class A	1,064,989	115,519
	Macy's Inc.	7,033,754	112,892
^*	Coty Inc. Class A	8,810,610	108,282
	Academy Sports & Outdoors Inc.	1,990,279	107,575
^*	Visteon Corp.	732,235	105,156
^*	Goodyear Tire & Rubber Co.	7,320,618	100,146
	Marriott Vacations Worldwide Corp.	808,197	99,182
	KB Home	1,917,586	99,158
	Leggett & Platt Inc.	3,266,104	96,742
^*	Penn Entertainment Inc.	3,980,514	95,652
	Wendy's Co.	4,354,422	94,709
	TEGNA Inc.	5,812,200	94,390
¹	Choice Hotels International Inc.	790,298	92,876
^*	Skyline Champion Corp.	1,399,775	91,615
^*	Hilton Grand Vacations Inc.	2,014,418	91,535
	Group 1 Automotive Inc.	346,992	89,559
	Penske Automotive Group Inc.	534,643	89,088
^*	YETI Holdings Inc.	2,238,054	86,926
	VF Corp.	4,513,160	86,156
^*	Tri Pointe Homes Inc.	2,585,454	84,958
	Madison Square Garden Sports Corp.	450,158	84,652
	Newell Brands Inc.	9,626,074	83,747
^*	Grand Canyon Education Inc.	793,598	81,907
	LCI Industries	620,801	78,444

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Small-Cap Index Fund

		Shares	Market Value• ($000)
^*	Lyft Inc. Class A	8,112,970	77,803
	Travel + Leisure Co.	1,872,297	75,528
^*	Ollie's Bargain Outlet Holdings Inc.	1,300,042	75,311
^*	Shake Shack Inc. Class A	966,884	75,146
^*	JetBlue Airways Corp.	8,469,366	75,039
	Signet Jewelers Ltd.	1,107,170	72,254
^*	Topgolf Callaway Brands Corp.	3,595,406	71,369
	MDC Holdings Inc.	1,510,787	70,660
^*	LGI Homes Inc.	516,668	69,693
	Rush Enterprises Inc. Class A	1,146,738	69,653
	Columbia Sportswear Co.	881,278	68,070
^*	Frontdoor Inc.	2,110,920	67,338
	Carter's Inc.	924,767	67,138
^*	Helen of Troy Ltd.	620,901	67,070
	Kohl's Corp.	2,860,372	65,932
¹	Foot Locker Inc.	2,413,188	65,422
^*	Liberty Media Corp.-Liberty SiriusXM Class C	1,973,612	64,596
^*,1	Carvana Co. Class A	2,468,296	63,978
	Gap Inc.	7,124,548	63,622
^*	Peloton Interactive Inc. Class A	8,247,995	63,427
	Papa John's International Inc.	843,420	62,270
	Inter Parfums Inc.	454,785	61,501
	Kontoor Brands Inc.	1,448,379	60,977
	Bloomin' Brands Inc.	2,254,630	60,627
^*	Hertz Global Holdings Inc.	3,256,934	59,895
	Red Rock Resorts Inc. Class A	1,277,823	59,777
^*,1	AMC Entertainment Holdings Inc. Class A	13,410,046	59,004
	Steven Madden Ltd.	1,766,920	57,761
	Dana Inc.	3,355,082	57,036
^*	ACV Auctions Inc. Class A	3,179,931	54,917
^*	Dorman Products Inc.	690,890	54,463
^*	Sonos Inc.	3,314,339	54,123
	Advance Auto Parts Inc.	766,869	53,911
	American Eagle Outfitters Inc.	4,545,684	53,639
	Cracker Barrel Old Country Store Inc.	572,115	53,310
	Graham Holdings Co. Class B	92,719	52,987
^*	Urban Outfitters Inc.	1,555,901	51,547
	Jack in the Box Inc.	526,608	51,360
¹	Nordstrom Inc.	2,501,558	51,207

		Shares	Market Value• ($000)
^*	Allegiant Travel Co.	404,562	51,088
^*	SeaWorld Entertainment Inc.	907,526	50,831
^*,1	QuantumScape Corp. Class A	6,273,909	50,129
^*	National Vision Holdings Inc.	2,016,902	48,991
	Spirit Airlines Inc.	2,819,521	48,383
^*	Gentherm Inc.	855,629	48,352
^*	Six Flags Entertainment Corp.	1,828,478	47,504
	PriceSmart Inc.	640,581	47,441
^*	SkyWest Inc.	1,147,835	46,740
^*	Cinemark Holdings Inc.	2,826,303	46,634
^*	Abercrombie & Fitch Co. Class A	1,228,244	46,280
^*	PowerSchool Holdings Inc. Class A	2,331,085	44,617
	Laureate Education Inc.	3,653,672	44,173
^*	OPENLANE Inc.	2,820,720	42,931
	Acushnet Holdings Corp.	783,001	42,815
^*	Knowles Corp.	2,360,266	42,626
^*	Dave & Buster's Entertainment Inc.	951,186	42,385
^*,1	Luminar Technologies Inc. Class A	6,159,475	42,377
^*	ODP Corp.	897,444	42,018
^*	Liberty Media Corp.-Liberty Formula One Class A	620,531	41,960
^*	Brinker International Inc.	1,144,072	41,873
^*	TripAdvisor Inc.	2,504,968	41,307
	Cheesecake Factory Inc.	1,193,694	41,278
^*	Driven Brands Holdings Inc.	1,514,792	40,990
^*	Leslie's Inc.	4,273,753	40,131
^*	Stride Inc.	1,056,107	39,319
	Hanesbrands Inc.	8,576,916	38,939
	Strategic Education Inc.	571,686	38,783
^*	PROG Holdings Inc.	1,207,406	38,782
	Oxford Industries Inc.	387,031	38,092
^*	Overstock.com Inc.	1,167,411	38,023
^*	Central Garden & Pet Co. Class A	1,013,468	36,951
^*	Adtalem Global Education Inc.	1,070,146	36,749
	John Wiley & Sons Inc. Class A	1,079,209	36,725
	Upbound Group Inc.	1,155,761	35,979
^*	Coursera Inc.	2,725,047	35,480

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Small-Cap Index Fund

		Shares	Market Value• ($000)
^*	Under Armour Inc. Class A	4,875,301	35,200
^*	Victoria's Secret & Co.	2,008,159	35,002
^*	Sally Beauty Holdings Inc.	2,777,983	34,308
	Levi Strauss & Co. Class A	2,297,334	33,151
¹	Dillard's Inc. Class A	101,304	33,053
^*	Boot Barn Holdings Inc.	386,305	32,716
^*	Cars.com Inc.	1,637,126	32,448
^*	Integral Ad Science Holding Corp.	1,800,778	32,378
	HNI Corp.	1,138,954	32,096
	La-Z-Boy Inc.	1,114,259	31,912
	Matthews International Corp. Class A	747,374	31,853
^*	Cavco Industries Inc.	106,328	31,367
	Monro Inc.	770,907	31,322
^*	Liberty Media Corp.-Liberty SiriusXM Class A	949,672	31,159
¹	Camping World Holdings Inc. Class A	1,033,666	31,113
^*	Under Armour Inc. Class C	4,574,341	30,694
^*	iRobot Corp.	677,111	30,639
^*,1	Dutch Bros Inc. Class A	1,061,518	30,200
	MillerKnoll Inc.	1,953,410	28,871
^*,1	Fisker Inc. Class A	5,110,653	28,824
^*	Portillo's Inc. Class A	1,278,599	28,807
^*	Madison Square Garden Entertainment Corp. Class A	853,443	28,693
	Wolverine World Wide Inc.	1,949,067	28,632
	Scholastic Corp.	729,775	28,381
^*	Sweetgreen Inc. Class A	2,155,368	27,632
^*	Sabre Corp.	8,576,572	27,359
	Buckle Inc.	781,962	27,056
^*	Lions Gate Entertainment Corp. Class B	3,185,626	26,600
^*	Chegg Inc.	2,937,674	26,087
¹	Krispy Kreme Inc.	1,737,782	25,598
^*	Figs Inc. Class A	3,092,164	25,572
^*	Life Time Group Holdings Inc.	1,259,394	24,772
	Sturm Ruger & Co. Inc.	457,366	24,222
^*	American Axle & Manufacturing Holdings Inc.	2,871,355	23,746
^*,1	Mister Car Wash Inc.	2,390,240	23,066

		Shares	Market Value• ($000)
^*	Udemy Inc.	2,085,005	22,372
	Dine Brands Global Inc.	384,339	22,303
^*	Sun Country Airlines Holdings Inc.	944,331	21,229
^*	Vista Outdoor Inc.	737,195	20,398
^*	Sphere Entertainment Co.	715,232	19,590
^*	G-III Apparel Group Ltd.	1,001,003	19,289
^*	Corsair Gaming Inc.	1,054,471	18,706
^*	Petco Health & Wellness Co. Inc. Class A	2,071,087	18,433
^*	BJ's Restaurants Inc.	577,628	18,369
	Steelcase Inc. Class A	2,295,213	17,696
^*	Cava Group Inc.	431,474	17,669
^*	Revolve Group Inc. Class A	1,053,913	17,284
	Sonic Automotive Inc. Class A	362,505	17,281
^*	EW Scripps Co. Class A	1,775,905	16,250
¹	Guess? Inc.	790,609	15,377
^*	Lions Gate Entertainment Corp. Class A	1,625,125	14,350
^*,1	Dream Finders Homes Inc. Class A	552,410	13,584
^*	Bowlero Corp.	1,163,982	13,549
^*	GoPro Inc. Class A	3,175,156	13,145
^*	Clear Channel Outdoor Holdings Inc.	9,353,430	12,814
¹	Designer Brands Inc. Class A	1,265,290	12,779
	U-Haul Holding Co.	224,172	12,401
^*	Vizio Holding Corp. Class A	1,685,383	11,376
¹	Sinclair Inc.	811,554	11,216
^*	Sciplay Corp. Class A	546,980	10,765
	Caleres Inc.	445,805	10,668
^*	Central Garden & Pet Co.	245,665	9,524
^*	AMC Networks Inc. Class A	785,699	9,389
¹	Cricut Inc. Class A	730,066	8,907
^*	Frontier Group Holdings Inc.	846,580	8,186
^*,1	SES AI Corp.	3,162,876	7,717
^*	Sleep Number Corp.	272,103	7,423
	Smith & Wesson Brands Inc.	563,170	7,344
^*	Hawaiian Holdings Inc.	633,164	6,819
	Interface Inc. Class A	712,524	6,263
^*	Angi Inc. Class A	1,856,386	6,126
^*,1	Arhaus Inc. Class A	546,770	5,703

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Small-Cap Index Fund

		Shares	Market Value• ($000)
^*	Rush Street Interactive Inc.	1,565,257	4,884
^*	iHeartMedia Inc. Class A	1,340,084	4,878
	Rush Enterprises Inc. Class B	68,801	4,683
^*	Qurate Retail Inc. Class A	4,559,229	4,513
^*	2U Inc.	987,631	3,980
^*,1	Vacasa Inc. Class A	1,698,093	1,152
^*	Savers Value Village Inc.	45,753	1,084
^*	Brilliant Earth Group Inc. Class A	142,774	554
^*	ContextLogic Inc. Class A	4,450	29
	RB Global Inc.	74	4
			19,089,085
Consumer Staples (3.3%)
	Bunge Ltd.	3,889,726	366,996
^*	Darling Ingredients Inc.	4,121,355	262,901
^*	US Foods Holding Corp.	5,768,543	253,816
^*	Performance Food Group Co.	4,033,020	242,949
	Casey's General Stores Inc.	962,417	234,714
	Lamb Weston Holdings Inc.	1,881,657	216,296
	Ingredion Inc.	1,619,848	171,623
^*	Celsius Holdings Inc.	1,090,725	162,725
	Molson Coors Beverage Co. Class B	2,328,976	153,340
^*	BellRing Brands Inc.	3,430,157	125,544
^*	Post Holdings Inc.	1,317,086	114,125
	Flowers Foods Inc.	4,377,525	108,913
	Lancaster Colony Corp.	497,566	100,056
^*	Sprouts Farmers Market Inc.	2,661,645	97,762
^*	Simply Good Foods Co.	2,570,349	94,049
^*	Hostess Brands Inc. Class A	3,431,400	86,883
	Spectrum Brands Holdings Inc.	1,059,093	82,662
^*,1	Freshpet Inc.	1,242,803	81,789
	Coca-Cola Consolidated Inc.	118,936	75,646
^*	TreeHouse Foods Inc.	1,454,554	73,280
^*	Boston Beer Co. Inc. Class A	237,162	73,150
^*	Grocery Outlet Holding Corp.	2,284,739	69,936
	WD-40 Co.	350,532	66,128

		Shares	Market Value• ($000)
	Energizer Holdings Inc.	1,846,115	61,992
	Edgewell Personal Care Co.	1,255,646	51,871
	J & J Snack Foods Corp.	298,307	47,240
	Vector Group Ltd.	3,424,329	43,866
	Cal-Maine Foods Inc.	970,027	43,651
	Nu Skin Enterprises Inc. Class A	1,288,872	42,791
	Reynolds Consumer Products Inc.	1,356,004	38,307
	Andersons Inc.	784,234	36,192
^*	Herbalife Ltd.	2,427,228	32,136
	Universal Corp.	602,557	30,092
^*	United Natural Foods Inc.	1,534,234	29,994
^*	National Beverage Corp.	602,813	29,146
^*	Hain Celestial Group Inc.	2,310,245	28,901
	Utz Brands Inc.	1,675,531	27,412
	Weis Markets Inc.	416,854	26,766
	Medifast Inc.	281,215	25,917
	Fresh Del Monte Produce Inc.	991,850	25,500
¹	B&G Foods Inc.	1,771,952	24,666
^*	Sovos Brands Inc.	1,176,635	23,015
	Seaboard Corp.	5,978	21,286
^*,1	Beyond Meat Inc.	1,575,884	20,455
^*	Pilgrim's Pride Corp.	917,196	19,711
^*	USANA Health Sciences Inc.	299,061	18,853
^*	Beauty Health Co.	2,227,074	18,641
^*	Duckhorn Portfolio Inc.	1,041,751	13,511
	Tootsie Roll Industries Inc.	369,521	13,085
	ACCO Brands Corp.	2,329,129	12,135
^*	Olaplex Holdings Inc.	2,534,860	9,430
^*,1	BRC Inc. Class A	1,135,233	5,858
^*	Vital Farms Inc.	316,510	3,795
^*,1,2	Fresh Market Inc.	709,594	—
			4,141,498
Energy (5.2%)
	Targa Resources Corp.	5,837,868	444,262
	Chesapeake Energy Corp.	3,284,774	274,870
	APA Corp.	7,970,742	272,360
	Ovintiv Inc.	6,315,798	240,442
	EQT Corp.	4,669,942	192,075
	Range Resources Corp.	5,920,544	174,064
^*	Southwestern Energy Co.	28,444,376	170,951
	HF Sinclair Corp.	3,725,408	166,190

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	NOV Inc.	10,169,400	163,117
	PDC Energy Inc.	2,258,949	160,702
^*	Antero Resources Corp.	6,976,828	160,676
	ChampionX Corp.	5,113,484	158,723
	Chord Energy Corp.	1,019,545	156,806
	Matador Resources Co.	2,924,453	153,007
	Murphy Oil Corp.	3,830,223	146,698
	Civitas Resources Inc.	2,077,622	144,125
^*	Transocean Ltd.	17,816,905	124,897
	DT Midstream Inc.	2,502,530	124,050
^*	Weatherford International plc	1,861,335	123,630
	PBF Energy Inc. Class A	2,931,349	120,009
^*	Noble Corp. plc	2,864,387	118,328
^*	Shoals Technologies Group Inc. Class A	4,386,212	112,112
^*	Denbury Inc.	1,233,653	106,415
	Texas Pacific Land Corp.	79,424	104,562
	Equitrans Midstream Corp.	10,629,779	101,621
	Antero Midstream Corp.	8,671,696	100,592
	SM Energy Co.	3,112,833	98,459
	Magnolia Oil & Gas Corp. Class A	4,665,560	97,510
	Arcosa Inc.	1,251,089	94,795
	Helmerich & Payne Inc.	2,384,692	84,537
^*	Array Technologies Inc.	3,701,550	83,655
	California Resources Corp.	1,822,248	82,530
^*,1	Plug Power Inc.	7,748,430	80,506
^*	CNX Resources Corp.	4,062,854	71,994
	Cactus Inc. Class A	1,666,931	70,545
	Peabody Energy Corp.	3,176,840	68,810
	Permian Resources Corp. Class A	6,087,504	66,719
^*,1	ChargePoint Holdings Inc.	7,295,500	64,127
	Patterson-UTI Energy Inc.	5,110,205	61,169
^*	Callon Petroleum Co.	1,598,029	56,043
¹	Sitio Royalties Corp. Class A	2,082,843	54,716
	Liberty Energy Inc. Class A	4,070,622	54,424
	Warrior Met Coal Inc.	1,342,798	52,302
	Alpha Metallurgical Resources Inc.	317,802	52,234
¹	Arch Resources Inc.	458,227	51,670
^*,1	NEXTracker Inc. Class A	1,241,341	49,418

		Shares	Market Value• ($000)
^*	Oceaneering International Inc.	2,602,747	48,671
^*	NexTier Oilfield Solutions Inc.	5,060,522	45,241
	New Fortress Energy Inc.	1,588,750	42,547
^*	Ameresco Inc. Class A	837,286	40,717
	Delek US Holdings Inc.	1,697,876	40,664
	Archrock Inc.	3,844,955	39,411
	World Kinect Corp.	1,524,569	31,528
¹	Comstock Resources Inc.	2,508,700	29,101
^*	NOW Inc.	2,763,329	28,628
^*,1	Fluence Energy Inc. Class A	1,057,023	28,159
	Core Laboratories Inc.	1,205,275	28,023
	CVR Energy Inc.	778,953	23,337
^*,1	FuelCell Energy Inc.	10,479,790	22,636
^*,1	SunPower Corp.	2,259,536	22,144
^*,1	Stem Inc.	3,816,305	21,829
^*	ProPetro Holding Corp.	2,529,908	20,846
^*	MRC Global Inc.	2,066,590	20,811
^*	Dril-Quip Inc.	882,703	20,541
	RPC Inc.	2,514,642	17,980
^*	Helix Energy Solutions Group Inc.	1,858,845	13,718
	Kinetik Holdings Inc. Class A	380,034	13,354
	Vitesse Energy Inc.	557,293	12,483
^*,1	EVgo Inc. Class A	2,635,840	10,543
¹	Crescent Energy Co. Class A	999,351	10,413
^*,1	Tellurian Inc.	6,904,898	9,736
¹	Enviva Inc.	787,189	8,541
¹	Atlas Energy Solutions Inc. Class A	450,064	7,813
^*	ProFrac Holding Corp. Class A	615,961	6,874
^*,1	OPAL Fuels Inc. Class A	464,767	3,467
^*	Denbury Inc. Warrants Exp. 9/18/23	2	—
			6,381,203
Financials (12.8%)
	First Citizens BancShares Inc. Class A	261,787	335,991
	RenaissanceRe Holdings Ltd.	1,297,407	241,992
	Reinsurance Group of America Inc.	1,718,689	238,365
	American Financial Group Inc.	1,870,013	222,064

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Kinsale Capital Group Inc.	568,171	212,610
	New York Community Bancorp Inc.	18,651,577	209,644
	Carlyle Group Inc.	6,547,080	209,179
	Unum Group	4,326,565	206,377
	Brown & Brown Inc.	2,930,432	201,731
	Invesco Ltd.	11,833,904	198,928
	East West Bancorp Inc.	3,653,667	192,877
	Ally Financial Inc.	6,989,639	188,790
	Primerica Inc.	942,831	186,454
	SEI Investments Co.	3,098,824	184,752
	Voya Financial Inc.	2,538,173	182,012
	Assurant Inc.	1,372,831	172,592
^*,1	SoFi Technologies Inc.	20,655,670	172,268
	Old Republic International Corp.	6,805,898	171,304
	Webster Financial Corp.	4,513,430	170,382
	Cullen/Frost Bankers Inc.	1,496,997	160,972
^*	Robinhood Markets Inc. Class A	16,024,294	159,922
	First Horizon Corp.	13,890,928	156,551
	AGNC Investment Corp.	15,385,827	155,858
	Stifel Financial Corp.	2,604,260	155,396
	RLI Corp.	1,113,420	151,948
	Selective Insurance Group Inc.	1,562,403	149,913
¹	Starwood Property Trust Inc.	7,657,650	148,558
	First American Financial Corp.	2,532,616	144,410
	Comerica Inc.	3,400,838	144,060
	Commerce Bancshares Inc.	2,899,097	141,186
	Jefferies Financial Group Inc.	4,219,897	139,974
	Affiliated Managers Group Inc.	932,430	139,762
	Erie Indemnity Co. Class A	656,213	137,811
	OneMain Holdings Inc.	3,114,570	136,076
	Blue Owl Capital Inc. Class A	11,516,353	134,166
	Prosperity Bancshares Inc.	2,313,307	130,656
	Morningstar Inc.	659,409	129,290
	SouthState Corp.	1,960,986	129,033
	Houlihan Lokey Inc. Class A	1,307,912	128,581
¹	Annaly Capital Management Inc.	6,372,229	127,508
	Equitable Holdings Inc.	4,594,229	124,779

		Shares	Market Value• ($000)
	Essent Group Ltd.	2,631,865	123,171
	Globe Life Inc.	1,110,611	121,745
	MGIC Investment Corp.	7,403,029	116,894
	Rithm Capital Corp.	12,475,421	116,645
	Bank OZK	2,875,198	115,468
	Wintrust Financial Corp.	1,580,474	114,774
	Home BancShares Inc.	4,975,901	113,451
	Lincoln National Corp.	4,379,535	112,817
	Popular Inc.	1,858,947	112,504
^*	Ryan Specialty Holdings Inc. Class A	2,492,758	111,900
	Evercore Inc. Class A	891,362	110,163
	Columbia Banking System Inc.	5,384,191	109,191
	Synovus Financial Corp.	3,585,276	108,455
	FNB Corp.	9,325,860	106,688
	Pinnacle Financial Partners Inc.	1,883,028	106,674
	Axis Capital Holdings Ltd.	1,980,543	106,613
	Old National Bancorp	7,557,469	105,351
	United Bankshares Inc.	3,485,146	103,404
	Zions Bancorp NA	3,825,216	102,745
	SLM Corp.	6,260,374	102,169
	Radian Group Inc.	4,038,405	102,091
	First Financial Bankshares Inc.	3,502,226	99,778
	American Equity Investment Life Holding Co.	1,912,593	99,665
	Western Alliance Bancorp	2,686,910	97,992
	Hanover Insurance Group Inc.	830,472	93,868
	Janus Henderson Group plc	3,423,063	93,279
	Cadence Bank	4,718,923	92,680
	Glacier Bancorp Inc.	2,863,687	89,261
	Lazard Ltd. Class A	2,766,929	88,542
¹	Blackstone Mortgage Trust Inc. Class A	4,227,393	87,972
	FirstCash Holdings Inc.	939,536	87,687
	White Mountains Insurance Group Ltd.	62,914	87,382
	Valley National Bancorp	11,150,096	86,413
^*,1	Credit Acceptance Corp.	165,783	84,206
^*	Brighthouse Financial Inc.	1,726,948	81,771
	Assured Guaranty Ltd.	1,456,059	81,248

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Hancock Whitney Corp.	2,112,075	81,061
^*	Enstar Group Ltd.	331,097	80,867
^*	Mr Cooper Group Inc.	1,582,015	80,113
	Kemper Corp.	1,652,827	79,765
	Federated Hermes Inc. Class B	2,196,325	78,738
	Moelis & Co. Class A	1,719,236	77,950
^*	Focus Financial Partners Inc. Class A	1,449,095	76,092
	United Community Banks Inc.	2,825,610	70,612
	Artisan Partners Asset Management Inc. Class A	1,768,015	69,501
	Hamilton Lane Inc. Class A	843,901	67,495
	CNO Financial Group Inc.	2,810,778	66,531
	Jackson Financial Inc. Class A	2,130,631	65,219
	Community Bank System Inc.	1,387,706	65,056
^*,1	Upstart Holdings Inc.	1,814,972	64,994
	Walker & Dunlop Inc.	818,070	64,701
	International Bancshares Corp.	1,443,938	63,822
^*	Texas Capital Bancshares Inc.	1,236,386	63,674
^*	Genworth Financial Inc. Class A	12,345,565	61,728
	UMB Financial Corp.	1,002,342	61,043
	Associated Banc-Corp	3,702,469	60,091
	WSFS Financial Corp.	1,587,177	59,868
	First Hawaiian Inc.	3,295,712	59,356
	Ameris Bancorp	1,702,244	58,234
	Cathay General Bancorp	1,779,832	57,293
^*	Axos Financial Inc.	1,450,457	57,206
^*,1	Marathon Digital Holdings Inc.	4,106,425	56,915
	First Bancorp	4,643,706	56,746
	Piper Sandler Cos.	435,340	56,272
¹	Arbor Realty Trust Inc.	3,710,879	54,995
	Simmons First National Corp. Class A	3,124,320	53,895
	ServisFirst Bancshares Inc.	1,261,859	51,635
	First Interstate BancSystem Inc. Class A	2,156,684	51,415
	Pacific Premier Bancorp Inc.	2,474,369	51,170
	Fulton Financial Corp.	4,274,443	50,951
^*,1	Riot Platforms Inc.	4,295,611	50,774
	Eastern Bankshares Inc.	4,098,995	50,295

		Shares	Market Value• ($000)
	Atlantic Union Bankshares Corp.	1,936,996	50,265
	BOK Financial Corp.	602,075	48,636
	Independent Bank Corp.	1,082,739	48,193
	First Financial Bancorp	2,334,870	47,725
	TPG Inc. Class A	1,586,251	46,414
	CVB Financial Corp.	3,417,760	45,388
	PennyMac Financial Services Inc.	644,721	45,330
	Washington Federal Inc.	1,699,365	45,067
	First Merchants Corp.	1,541,442	43,515
	BancFirst Corp.	467,382	42,999
	Navient Corp.	2,286,737	42,488
	Bank of Hawaii Corp.	1,024,064	42,222
	BankUnited Inc.	1,921,877	41,416
	Apollo Commercial Real Estate Finance Inc.	3,650,640	41,325
^*	BRP Group Inc. Class A	1,646,231	40,794
	PJT Partners Inc. Class A	576,481	40,146
	Virtu Financial Inc. Class A	2,341,102	40,009
	Towne Bank	1,693,328	39,353
	Banner Corp.	886,872	38,730
	BGC Partners Inc. Class A	8,742,420	38,729
	Park National Corp.	376,093	38,482
^*	Cannae Holdings Inc.	1,876,991	37,934
	WesBanco Inc.	1,453,739	37,230
	Hilltop Holdings Inc.	1,175,636	36,986
	Cohen & Steers Inc.	634,353	36,786
	Renasant Corp.	1,376,369	35,965
	Virtus Investment Partners Inc.	178,819	35,311
	Northwest Bancshares Inc.	3,281,885	34,788
	Two Harbors Investment Corp.	2,498,405	34,678
	Chimera Investment Corp.	5,995,074	34,592
	Claros Mortgage Trust Inc.	3,037,975	34,451
¹	Compass Diversified Holdings	1,579,538	34,260
	StepStone Group Inc. Class A	1,378,245	34,194
	NBT Bancorp Inc.	1,052,746	33,530
	City Holding Co.	369,783	33,277
	Nelnet Inc. Class A	343,728	33,163
^*	Goosehead Insurance Inc. Class A	515,483	32,419
	Ladder Capital Corp. Class A	2,950,992	32,018

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	OFG Bancorp	1,227,563	32,015
	First Commonwealth Financial Corp.	2,524,676	31,937
^*	Clearwater Analytics Holdings Inc. Class A	2,001,030	31,756
	Horace Mann Educators Corp.	1,054,950	31,290
	Independent Bank Group Inc.	906,155	31,290
	PennyMac Mortgage Investment Trust	2,261,534	30,486
	Provident Financial Services Inc.	1,854,081	30,296
	Franklin BSP Realty Trust Inc.	2,125,228	30,093
	Trustmark Corp.	1,419,665	29,983
	MFA Financial Inc.	2,632,328	29,587
¹	Safehold Inc.	1,238,406	29,387
	National Bank Holdings Corp. Class A	974,040	28,286
^*	Encore Capital Group Inc.	576,220	28,016
^*,1	Lemonade Inc.	1,615,042	27,213
¹	ARMOUR Residential REIT Inc.	5,049,702	26,915
	Argo Group International Holdings Ltd.	908,259	26,894
^*	Oscar Health Inc. Class A	3,312,868	26,702
	Westamerica Bancorp	688,267	26,361
^*	Open Lending Corp.	2,493,343	26,205
	Safety Insurance Group Inc.	364,793	26,163
	S&T Bancorp Inc.	956,170	25,998
	Employers Holdings Inc.	694,174	25,969
^*	LendingClub Corp.	2,637,073	25,711
	PacWest Bancorp	3,048,832	24,848
	Hope Bancorp Inc.	2,942,694	24,778
	BrightSpire Capital Inc. Class A	3,356,178	22,587
	Berkshire Hills Bancorp Inc.	1,086,450	22,522
	WisdomTree Inc.	3,277,009	22,480
^*	PRA Group Inc.	961,144	21,962
	Mercury General Corp.	715,119	21,647
^*	Avantax Inc.	946,882	21,191
	ProAssurance Corp.	1,395,557	21,059
	Enact Holdings Inc.	834,712	20,976
	Capitol Federal Financial Inc.	3,341,000	20,614
	National Western Life Group Inc. Class A	48,840	20,296
	Brookline Bancorp Inc.	2,175,629	19,015
^*	SiriusPoint Ltd.	2,104,472	19,003

		Shares	Market Value• ($000)
^*	Trupanion Inc.	958,305	18,859
	Redwood Trust Inc.	2,945,271	18,761
	TFS Financial Corp.	1,448,002	18,201
^*	Palomar Holdings Inc.	304,989	17,702
^*	Triumph Financial Inc.	286,765	17,412
^*	AssetMark Financial Holdings Inc.	572,897	16,992
	Tompkins Financial Corp.	299,995	16,710
	Eagle Bancorp Inc.	753,830	15,951
^*	Ambac Financial Group Inc.	1,112,137	15,837
	KKR Real Estate Finance Trust Inc.	1,249,348	15,205
	Victory Capital Holdings Inc. Class A	474,974	14,981
	United Fire Group Inc.	619,321	14,034
	Heartland Financial USA Inc.	467,196	13,021
¹	UWM Holdings Corp. Class A	2,284,249	12,792
	P10 Inc. Class A	1,117,639	12,629
	Northfield Bancorp Inc.	1,081,730	11,877
	TPG RE Finance Trust Inc.	1,599,828	11,855
^*	World Acceptance Corp.	88,372	11,843
^*	Columbia Financial Inc.	683,567	11,819
	Live Oak Bancshares Inc.	429,201	11,292
	Kearny Financial Corp.	1,536,317	10,831
	GCM Grosvenor Inc. Class A	1,027,627	7,748
¹	Invesco Mortgage Capital Inc.	538,333	6,175
	Central Pacific Financial Corp.	331,595	5,209
^*,1	Hagerty Inc. Class A	547,004	5,120
^*	loanDepot Inc. Class A	1,487,552	3,154
	Associated Capital Group Inc. Class A	40,970	1,450
			15,773,251
Health Care (11.9%)
^*	Exact Sciences Corp.	4,659,182	437,497
	Bio-Techne Corp.	4,066,377	331,938
^*	Penumbra Inc.	938,623	322,943
^*	Shockwave Medical Inc.	946,040	270,009
^*	United Therapeutics Corp.	1,210,221	267,156
^*	Sarepta Therapeutics Inc.	2,285,558	261,742
^*	Inspire Medical Systems Inc.	753,482	244,610

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Universal Health Services Inc. Class B	1,543,466	243,513
^*	Neurocrine Biosciences Inc.	2,520,175	237,653
^*	Apellis Pharmaceuticals Inc.	2,556,707	232,916
	DENTSPLY SIRONA Inc.	5,488,135	219,635
^*	Tenet Healthcare Corp.	2,632,891	214,265
^*	Masimo Corp.	1,295,341	213,148
	Chemed Corp.	387,986	210,160
^*	Jazz Pharmaceuticals plc	1,570,480	194,692
^*	Repligen Corp.	1,366,198	193,262
	Bruker Corp.	2,463,560	182,106
^*	Acadia Healthcare Co. Inc.	2,258,371	179,857
^*	Karuna Therapeutics Inc.	821,973	178,245
	Encompass Health Corp.	2,459,939	166,562
^*	Exelixis Inc.	8,410,839	160,731
^*	Lantheus Holdings Inc.	1,764,958	148,115
^*	Ionis Pharmaceuticals Inc.	3,511,101	144,060
^*	Option Care Health Inc.	4,410,680	143,303
^*	Envista Holdings Corp.	4,228,232	143,083
^*	Medpace Holdings Inc.	590,851	141,905
^*	Intra-Cellular Therapies Inc.	2,229,852	141,194
^*	IVERIC bio Inc.	3,558,709	140,000
^*	HealthEquity Inc.	2,207,551	139,385
^*	Charles River Laboratories International Inc.	661,009	138,977
	Organon & Co.	6,587,841	137,093
^*	Natera Inc.	2,804,614	136,473
^*	agilon health Inc.	7,849,745	136,115
^*	Alkermes plc	4,290,684	134,298
	Ensign Group Inc.	1,373,709	131,134
^*	DaVita Inc.	1,288,489	129,454
^*	Elanco Animal Health Inc.	12,721,648	127,980
^*	10X Genomics Inc. Class A	2,281,119	127,378
^*	Merit Medical Systems Inc.	1,485,013	124,206
^*	Halozyme Therapeutics Inc.	3,401,272	122,684
^*	Globus Medical Inc. Class A	2,012,230	119,808
	Perrigo Co. plc	3,495,364	118,668
^*	Novocure Ltd.	2,743,249	113,845

		Shares	Market Value• ($000)
^*	Syneos Health Inc.	2,677,055	112,811
^*	Haemonetics Corp.	1,305,463	111,147
^*	Neogen Corp.	5,026,321	109,322
^*	Vaxcyte Inc.	2,177,728	108,756
	CONMED Corp.	789,704	107,313
^*	QuidelOrtho Corp.	1,290,800	106,956
^*	ICU Medical Inc.	590,473	105,216
^*	Teladoc Health Inc.	4,015,772	101,679
^*	Guardant Health Inc.	2,828,264	101,252
^*	Blueprint Medicines Corp.	1,561,820	98,707
^*	Catalent Inc.	2,207,428	95,714
^*	Doximity Inc. Class A	2,759,336	93,873
^*	Arrowhead Pharmaceuticals Inc.	2,623,108	93,540
^*	Amicus Therapeutics Inc.	7,350,153	92,318
^*	R1 RCM Inc.	4,858,796	89,645
^*	Intellia Therapeutics Inc.	2,162,736	88,196
^*	Madrigal Pharmaceuticals Inc.	377,855	87,285
^*	TG Therapeutics Inc.	3,472,762	86,263
^*	Omnicell Inc.	1,164,351	85,778
	Premier Inc. Class A	3,075,688	85,074
^*	Glaukos Corp.	1,182,879	84,233
^*	Evolent Health Inc. Class A	2,764,135	83,753
	Select Medical Holdings Corp.	2,626,780	83,689
^*	Enovis Corp.	1,266,804	81,227
^*	Surgery Partners Inc.	1,796,677	80,833
^*	Ultragenyx Pharmaceutical Inc.	1,737,548	80,153
^*	Azenta Inc.	1,683,267	78,575
^*	Denali Therapeutics Inc.	2,651,780	78,254
^*	iRhythm Technologies Inc.	747,663	77,996
^*	PTC Therapeutics Inc.	1,916,304	77,936
^*	Pacific Biosciences of California Inc.	5,808,838	77,258
^*	Amedisys Inc.	841,649	76,960
^*	Progyny Inc.	1,950,692	76,740
^*	Cytokinetics Inc.	2,346,757	76,551
^*	Prestige Consumer Healthcare Inc.	1,283,537	76,281
^*	Integer Holdings Corp.	859,522	76,162
	Patterson Cos. Inc.	2,271,258	75,542
^*	ACADIA Pharmaceuticals Inc.	3,150,302	75,450
^*	Insmed Inc.	3,523,923	74,355
^*	Integra LifeSciences Holdings Corp.	1,798,170	73,959
^*	Reata Pharmaceuticals Inc. Class A	725,200	73,941

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
^*	Privia Health Group Inc.	2,688,829	70,205
^*,1	Axsome Therapeutics Inc.	962,311	69,152
^*	Inari Medical Inc.	1,181,258	68,678
^*,1	Ginkgo Bioworks Holdings Inc. Class A	36,847,087	68,536
^*	REVOLUTION Medicines Inc.	2,471,466	66,112
^*	Axonics Inc.	1,301,312	65,677
^*	STAAR Surgical Co.	1,248,434	65,630
^*	Vir Biotechnology Inc.	2,595,351	63,664
^*	ImmunoGen Inc.	3,302,716	62,322
^*	Sage Therapeutics Inc.	1,312,073	61,694
^*	Beam Therapeutics Inc.	1,870,086	59,712
^*	AtriCure Inc.	1,159,235	57,220
^*	Certara Inc.	3,095,933	56,377
^*	NuVasive Inc.	1,354,770	56,345
^*	NeoGenomics Inc.	3,295,073	52,952
^*	Bridgebio Pharma Inc.	2,901,925	49,913
^*	Mirati Therapeutics Inc.	1,352,618	48,870
^*	Sotera Health Co.	2,553,927	48,116
^*	Veracyte Inc.	1,870,511	47,642
^*	CorVel Corp.	243,766	47,169
^*,1	Corcept Therapeutics Inc.	2,099,088	46,705
^*	Myriad Genetics Inc.	2,001,186	46,387
^*	Pacira BioSciences Inc.	1,128,459	45,217
^*	Cerevel Therapeutics Holdings Inc.	1,417,928	45,076
^*	Tandem Diabetes Care Inc.	1,669,091	40,959
^*	Agios Pharmaceuticals Inc.	1,435,565	40,655
^*	Supernus Pharmaceuticals Inc.	1,336,698	40,181
^*	Xencor Inc.	1,559,819	38,949
^*	Relay Therapeutics Inc.	2,984,112	37,480
^*	Iovance Biotherapeutics Inc.	5,215,909	36,720
^*	Ironwood Pharmaceuticals Inc. Class A	3,410,486	36,288
^*	Maravai LifeSciences Holdings Inc. Class A	2,895,563	35,992
^*	Owens & Minor Inc.	1,869,920	35,603
^*	Apollo Medical Holdings Inc.	1,114,825	35,228
^*	PROCEPT BioRobotics Corp.	988,992	34,961
^*	Zentalis Pharmaceuticals Inc.	1,228,959	34,669
^*	Hims & Hers Health Inc.	3,632,560	34,146

		Shares	Market Value• ($000)
^*	SpringWorks Therapeutics Inc.	1,291,864	33,873
^*	Krystal Biotech Inc.	282,894	33,212
	Embecta Corp.	1,479,840	31,965
^*	Silk Road Medical Inc.	950,347	30,877
^*	Avanos Medical Inc.	1,205,441	30,811
^*	Pediatrix Medical Group Inc.	2,163,324	30,741
^*	Ligand Pharmaceuticals Inc.	423,614	30,543
^*	Harmony Biosciences Holdings Inc.	851,742	29,973
^*	Amylyx Pharmaceuticals Inc.	1,388,048	29,940
^*	Arvinas Inc.	1,172,338	29,097
^*	Twist Bioscience Corp.	1,402,255	28,690
	Healthcare Services Group Inc.	1,916,368	28,611
^*	Treace Medical Concepts Inc.	1,108,933	28,367
^*	Outset Medical Inc.	1,271,569	27,809
^*	Immunovant Inc.	1,347,387	25,560
^*	Warby Parker Inc. Class A	2,117,157	24,750
^*	Varex Imaging Corp.	1,043,509	24,596
^*	AdaptHealth Corp. Class A	1,906,037	23,196
^*	Kymera Therapeutics Inc.	1,000,001	22,990
^*	Adaptive Biotechnologies Corp.	3,354,698	22,510
^*	Cytek Biosciences Inc.	2,627,584	22,440
^*	Nevro Corp.	878,900	22,342
^*	NextGen Healthcare Inc.	1,363,209	22,111
^*,1	OPKO Health Inc.	9,979,657	21,656
^*,1	Recursion Pharmaceuticals Inc. Class A	2,861,436	21,375
^*	Multiplan Corp.	10,116,398	21,346
^*,1	Verve Therapeutics Inc.	1,119,685	20,994
	National HealthCare Corp.	337,133	20,842
^*	Phreesia Inc.	657,091	20,376
^*	REGENXBIO Inc.	1,010,425	20,198
^*	Brookdale Senior Living Inc.	4,618,346	19,489
^*	Innoviva Inc.	1,522,834	19,386
^*,1	ACELYRIN Inc.	878,606	18,363
^*,1	LifeStance Health Group Inc.	1,946,304	17,770
^*	EQRx Inc.	9,441,284	17,561
^*	Health Catalyst Inc.	1,382,028	17,275
^*	Editas Medicine Inc.	2,096,697	17,256

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
^*	BioCryst Pharmaceuticals Inc.	2,439,915	17,177
^*,1	Novavax Inc.	2,229,155	16,563
	HealthStream Inc.	633,873	15,568
^*	Rocket Pharmaceuticals Inc.	779,387	15,486
^*	Nuvalent Inc. Class A	365,019	15,393
^*	Enhabit Inc.	1,293,965	14,881
^*,1	Sana Biotechnology Inc.	2,473,198	14,740
^*,1	Prime Medicine Inc.	1,003,908	14,707
^*,1	Lyell Immunopharma Inc.	4,512,280	14,349
^*	Agiliti Inc.	868,298	14,327
^*	Alignment Healthcare Inc.	2,432,627	13,988
^*	Arcus Biosciences Inc.	613,680	12,464
^*	23andMe Holding Co. Class A	7,085,512	12,400
^*	American Well Corp. Class A	5,763,214	12,103
^*	Accolade Inc.	855,879	11,529
^*	Kiniksa Pharmaceuticals Ltd. Class A	812,953	11,446
^*	Amneal Pharmaceuticals Inc.	3,564,557	11,050
^*,1	Theravance Biopharma Inc.	1,045,501	10,821
^*	Fate Therapeutics Inc.	2,160,056	10,282
^*	GoodRx Holdings Inc. Class A	1,825,210	10,075
^*,1	ProKidney Corp. Class A	875,345	9,795
^*	Alector Inc.	1,614,730	9,705
^*,1	Allogene Therapeutics Inc.	1,883,540	9,361
^*	Day One Biopharmaceuticals Inc.	769,430	9,187
^*,1	AnaptysBio Inc.	444,721	9,046
^*,1	Cano Health Inc.	6,482,156	9,010
^*,1	Clover Health Investments Corp. Class A	9,152,848	8,211
^*,1	Butterfly Network Inc.	3,417,536	7,860
^*,1	ImmunityBio Inc.	2,814,554	7,824
	Phibro Animal Health Corp. Class A	525,361	7,197
^*	FibroGen Inc.	2,394,234	6,464
^*	CareDx Inc.	660,653	5,616
^*	Erasca Inc.	1,946,834	5,373
^*	Emergent BioSolutions Inc.	586,953	4,314
^*,1	Innovage Holding Corp.	525,574	3,942
^*	Cullinan Oncology Inc.	330,724	3,559

		Shares	Market Value• ($000)
^*,1	P3 Health Partners Inc.	1,143,288	3,418
^*,1,2	Synergy Pharmaceuticals LLC	2,001,166	—
^*,2	OmniAb Inc. 12.5 Earnout	156,690	—
^*,2	OmniAb Inc. 15 Earnout	156,690	—
			14,651,815
Industrials (22.0%)
^*	Fair Isaac Corp.	613,257	496,254
^*	Builders FirstSource Inc.	3,310,904	450,283
	IDEX Corp.	1,952,036	420,195
	Booz Allen Hamilton Holding Corp. Class A	3,416,506	381,282
	Graco Inc.	4,130,812	356,696
^*	Axon Enterprise Inc.	1,812,772	353,708
	Carlisle Cos. Inc.	1,316,423	337,702
	Nordson Corp.	1,331,064	330,343
	Watsco Inc.	863,271	329,312
	AECOM	3,589,953	304,033
	Owens Corning	2,327,433	303,730
	RPM International Inc.	3,329,608	298,766
	Lincoln Electric Holdings Inc.	1,486,986	295,360
	Pentair plc	4,260,452	275,225
	Toro Co.	2,693,552	273,800
	Allegion plc	2,271,583	272,635
	Lennox International Inc.	825,243	269,087
	Regal Rexnord Corp.	1,711,816	263,448
	Howmet Aerospace Inc.	5,070,305	251,284
	Cognex Corp.	4,461,016	249,906
^*	WillScot Mobile Mini Holdings Corp.	5,225,693	249,736
^*	Generac Holdings Inc.	1,606,393	239,561
	WESCO International Inc.	1,324,290	237,127
	Fortune Brands Innovations Inc.	3,272,856	235,482
^*	Saia Inc.	685,311	234,657
	Huntington Ingalls Industries Inc.	1,030,374	234,513
	A O Smith Corp.	3,216,635	234,107
	Hubbell Inc. Class B	692,037	229,452
	EMCOR Group Inc.	1,228,118	226,932
	Tetra Tech Inc.	1,374,888	225,124
	nVent Electric plc	4,279,005	221,096
	Advanced Drainage Systems Inc.	1,937,658	220,467
	Knight-Swift Transportation Holdings Inc. Class A	3,951,230	219,530
^*	TopBuild Corp.	819,993	218,135

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	AGCO Corp.	1,643,608	216,003
^*	Middleby Corp.	1,382,235	204,336
^*	WEX Inc.	1,106,554	201,470
^*	Paylocity Holding Corp.	1,081,185	199,511
	Robert Half International Inc.	2,644,203	198,897
	ITT Inc.	2,128,319	198,381
	AptarGroup Inc.	1,692,386	196,080
	Donaldson Co. Inc.	3,132,455	195,810
^*	GXO Logistics Inc.	3,071,785	192,970
^*	MasTec Inc.	1,629,347	192,214
	Graphic Packaging Holding Co.	7,933,079	190,632
	Berry Global Group Inc.	2,924,848	188,185
^*	Axalta Coating Systems Ltd.	5,721,930	187,737
	Littelfuse Inc.	641,395	186,845
	MKS Instruments Inc.	1,724,547	186,424
	Woodward Inc.	1,550,602	184,382
^*	Trex Co. Inc.	2,810,258	184,241
	Curtiss-Wright Corp.	990,337	181,885
	Genpact Ltd.	4,756,399	178,698
	Landstar System Inc.	928,081	178,693
	Sensata Technologies Holding plc	3,949,021	177,666
^*	Chart Industries Inc.	1,103,629	176,349
	Eagle Materials Inc.	913,955	170,379
	BWX Technologies Inc.	2,362,022	169,050
^*	XPO Inc.	2,842,858	167,729
	MSA Safety Inc.	963,463	167,604
^*	FTI Consulting Inc.	877,636	166,926
	Brunswick Corp.	1,826,461	158,245
	Jack Henry & Associates Inc.	941,163	157,485
^*	Atkore Inc.	995,924	155,304
	Simpson Manufacturing Co. Inc.	1,102,165	152,650
	Comfort Systems USA Inc.	923,795	151,687
	Valmont Industries Inc.	516,668	150,376
	Sonoco Products Co.	2,530,115	149,327
	Sealed Air Corp.	3,729,227	149,169
^*	ATI Inc.	3,320,313	146,857
	Oshkosh Corp.	1,687,005	146,078
	Applied Industrial Technologies Inc.	998,390	144,597
^*	Mohawk Industries Inc.	1,398,033	144,221
^*	Euronet Worldwide Inc.	1,217,649	142,915
	Acuity Brands Inc.	821,289	133,936
	Allison Transmission Holdings Inc.	2,351,869	132,787

		Shares	Market Value• ($000)
	Maximus Inc.	1,569,989	132,680
^*	API Group Corp.	4,860,267	132,491
	Watts Water Technologies Inc. Class A	707,931	130,068
	Vontier Corp.	4,019,387	129,464
	Flowserve Corp.	3,387,426	125,843
	Louisiana-Pacific Corp.	1,674,709	125,570
^*	ExlService Holdings Inc.	815,808	123,236
	Exponent Inc.	1,312,987	122,528
^*	Kirby Corp.	1,549,711	119,250
	Triton International Ltd.	1,422,308	118,421
	GATX Corp.	911,816	117,387
^*	Summit Materials Inc. Class A	3,068,923	116,159
	EnerSys	1,056,636	114,666
	Air Lease Corp. Class A	2,724,186	114,007
	Western Union Co.	9,671,891	113,451
^*	AMN Healthcare Services Inc.	1,024,050	111,744
	Badger Meter Inc.	757,138	111,723
	Insperity Inc.	937,681	111,547
	Crane Co.	1,245,389	110,989
	MSC Industrial Direct Co. Inc. Class A	1,159,641	110,491
	MDU Resources Group Inc.	5,259,745	110,139
^*	Fluor Corp.	3,699,688	109,511
^*	Aerojet Rocketdyne Holdings Inc.	1,981,527	108,726
	AAON Inc.	1,121,048	106,287
^*	AZEK Co. Inc. Class A	3,508,597	106,275
	Belden Inc.	1,099,110	105,130
	Franklin Electric Co. Inc.	1,014,157	104,357
	ManpowerGroup Inc.	1,302,419	103,412
^*	Beacon Roofing Supply Inc.	1,235,028	102,483
^*	Shift4 Payments Inc. Class A	1,479,112	100,446
	Silgan Holdings Inc.	2,135,772	100,146
	John Bean Technologies Corp.	821,854	99,691
	Terex Corp.	1,663,628	99,535
	HB Fuller Co.	1,389,552	99,367
	Esab Corp.	1,477,680	98,325
	Zurn Elkay Water Solutions Corp.	3,606,214	96,971
	Ryder System Inc.	1,140,795	96,728
	Westrock Co.	3,304,817	96,071
	Federal Signal Corp.	1,494,144	95,670
	Herc Holdings Inc.	698,930	95,649
^*	SPX Technologies Inc.	1,116,447	94,865
^*	ASGN Inc.	1,209,658	91,486

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Installed Building Products Inc.	623,581	87,401
	Armstrong World Industries Inc.	1,165,378	85,609
^*	O-I Glass Inc.	4,010,528	85,545
	Otter Tail Corp.	1,077,324	85,066
^*	Itron Inc.	1,173,208	84,588
^*	Alight Inc. Class A	8,990,342	83,071
	Hillenbrand Inc.	1,617,310	82,936
^*	Dycom Industries Inc.	720,321	81,864
	Moog Inc. Class A	741,790	80,432
^*	TriNet Group Inc.	844,103	80,164
	Encore Wire Corp.	431,088	80,152
^*,1	Affirm Holdings Inc. Class A	5,177,539	79,372
	Spirit AeroSystems Holdings Inc. Class A	2,717,591	79,326
^*	Flywire Corp.	2,530,911	78,559
^*	Bloom Energy Corp. Class A	4,732,104	77,370
	Brink's Co.	1,139,187	77,271
^*,1	Joby Aviation Inc.	7,333,790	75,245
	Albany International Corp. Class A	805,850	75,170
^*	Core & Main Inc. Class A	2,388,740	74,863
^*	GMS Inc.	1,066,970	73,834
	ABM Industries Inc.	1,707,468	72,824
	EnPro Industries Inc.	539,294	72,012
	Forward Air Corp.	670,523	71,149
	Crane NXT Co.	1,245,489	70,295
	FTAI Aviation Ltd.	2,188,136	69,276
^*	Verra Mobility Corp. Class A	3,496,312	68,947
	ESCO Technologies Inc.	665,282	68,943
^*	RXO Inc.	3,019,910	68,461
	Matson Inc.	879,916	68,396
	Korn Ferry	1,353,722	67,063
	Mueller Water Products Inc. Class A	4,040,286	65,574
	Werner Enterprises Inc.	1,473,269	65,089
^*	ACI Worldwide Inc.	2,797,913	64,828
^*	Hub Group Inc. Class A	804,152	64,589
^*	Resideo Technologies Inc.	3,609,866	63,750
^*	AeroVironment Inc.	619,913	63,405
	EVERTEC Inc.	1,680,809	61,904
^*	Marqeta Inc. Class A	12,547,672	61,107
	UniFirst Corp.	390,080	60,466
	Kennametal Inc.	2,073,430	58,865
^*	Masonite International Corp.	571,116	58,505
	McGrath RentCorp	632,249	58,470
	ArcBest Corp.	587,774	58,072

		Shares	Market Value• ($000)
^*	Knife River Corp.	1,314,933	57,200
^*	Remitly Global Inc.	2,987,269	56,220
	Helios Technologies Inc.	843,222	55,729
^*,1	Enovix Corp.	3,063,801	55,271
	ADT Inc.	8,954,686	53,997
	Trinity Industries Inc.	2,096,011	53,888
	Brady Corp. Class A	1,126,546	53,590
	Barnes Group Inc.	1,241,876	52,395
	Griffon Corp.	1,255,907	50,613
^*	Mercury Systems Inc.	1,427,810	49,388
^*	AAR Corp.	851,630	49,190
^*	Kratos Defense & Security Solutions Inc.	3,295,880	47,263
^*	OSI Systems Inc.	388,890	45,823
	Granite Construction Inc.	1,133,372	45,086
^*	Gates Industrial Corp. plc	3,313,039	44,660
	Greif Inc. Class A	637,329	43,906
	Standex International Corp.	307,400	43,488
^*	Hillman Solutions Corp.	4,775,550	43,028
^*	Hayward Holdings Inc.	3,298,040	42,380
	Primoris Services Corp.	1,376,310	41,936
^*	Rocket Lab USA Inc.	6,799,789	40,799
	Bread Financial Holdings Inc.	1,294,512	40,635
^*	AvidXchange Holdings Inc.	3,898,015	40,461
^*	Mirion Technologies Inc. Class A	4,784,553	40,429
^*	Huron Consulting Group Inc.	471,433	40,029
	Enerpac Tool Group Corp. Class A	1,476,927	39,877
	Tennant Co.	478,063	38,776
^*	JELD-WEN Holding Inc.	2,084,975	36,570
	H&E Equipment Services Inc.	798,824	36,546
^*,1	PureCycle Technologies Inc.	3,381,373	36,147
	Lindsay Corp.	284,345	33,934
	Greenbrier Cos. Inc.	783,324	33,761
^*	Air Transport Services Group Inc.	1,756,438	33,144
^*	Legalzoom.com Inc.	2,714,803	32,795
^*	Vicor Corp.	587,131	31,705
	Wabash National Corp.	1,226,302	31,442
^*	Payoneer Global Inc.	6,502,732	31,278
	Kforce Inc.	499,156	31,277
	TriMas Corp.	1,071,792	29,464

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
^*,1	Aurora Innovation Inc.	9,962,093	29,289
	Schneider National Inc. Class B	985,656	28,308
^*	ZipRecruiter Inc. Class A	1,538,382	27,322
	Apogee Enterprises Inc.	575,207	27,305
^*,1	Symbotic Inc. Class A	634,660	27,170
	Astec Industries Inc.	586,725	26,661
	AZZ Inc.	611,275	26,566
^*	CoreCivic Inc.	2,788,958	26,244
^*	Gibraltar Industries Inc.	392,728	24,710
^*	Cimpress plc	407,991	24,267
^*,1	Virgin Galactic Holdings Inc.	6,203,358	24,069
^*	Proto Labs Inc.	676,796	23,661
	Quanex Building Products Corp.	858,568	23,053
^*	Thermon Group Holdings Inc.	865,351	23,018
^*,1	Leonardo DRS Inc.	1,317,287	22,842
^*	Janus International Group Inc.	2,084,270	22,218
^*	Green Dot Corp. Class A	1,142,517	21,411
	International Seaways Inc.	540,424	20,666
^*	First Advantage Corp.	1,322,313	20,377
	Heartland Express Inc.	1,224,205	20,089
	Deluxe Corp.	1,122,517	19,622
	Kaman Corp.	727,782	17,707
	Gorman-Rupp Co.	574,798	16,571
	TTEC Holdings Inc.	488,246	16,522
^*	American Woodmark Corp.	214,865	16,409
^*	Conduent Inc.	4,514,065	15,348
	Pitney Bowes Inc.	4,309,246	15,255
	Kelly Services Inc. Class A	803,891	14,157
	Hyster-Yale Materials Handling Inc.	241,808	13,503
^*	TrueBlue Inc.	761,296	13,483
^*,1	Desktop Metal Inc. Class A	6,642,109	11,757
^*,1	Nikola Corp.	7,623,047	10,520
	REV Group Inc.	767,961	10,183
	National Presto Industries Inc.	137,096	10,035
^*	Triumph Group Inc.	802,865	9,931
^*	CryoPort Inc.	558,887	9,641
^*	Sterling Check Corp.	750,223	9,198
^*	Forrester Research Inc.	297,515	8,655
^*	BrightView Holdings Inc.	1,086,829	7,803
^*	TaskUS Inc. Class A	664,175	7,518

		Shares	Market Value• ($000)
^*	Atmus Filtration Technologies Inc.	322,719	7,087
	Pactiv Evergreen Inc.	921,034	6,972
	Greif Inc. Class B	82,697	6,388
	Kronos Worldwide Inc.	594,436	5,189
^*	Advantage Solutions Inc.	2,076,623	4,859
^*,1	Global Business Travel Group I	631,843	4,568
^*,1	Paymentus Holdings Inc. Class A	412,403	4,355
^*	FARO Technologies Inc.	232,169	3,761
^*,1	Microvast Holdings Inc.	1,970,555	3,153
^*,1	TuSimple Holdings Inc. Class A	1,820,107	3,021
^*	Proterra Inc.	2,493,224	2,992
^*	Hyliion Holdings Corp.	1,636,846	2,734
^*,1	MSP Recovery Inc.	1,621,439	532
^*,2	Godha Cabcon & Insulation Ltd.	582	—
			27,179,307
Real Estate (7.4%)
	Kimco Realty Corp.	16,011,090	315,739
	Gaming & Leisure Properties Inc.	6,437,431	311,958
	Life Storage Inc.	2,197,723	292,209
	Equity LifeStyle Properties Inc.	4,328,642	289,543
	American Homes 4 Rent Class A	7,928,145	281,053
	CubeSmart	5,803,163	259,169
	Rexford Industrial Realty Inc.	4,893,248	255,525
	Americold Realty Trust Inc.	6,978,039	225,391
	Lamar Advertising Co. Class A	2,259,665	224,272
	Federal Realty Investment Trust	2,105,456	203,745
	NNN REIT Inc.	4,703,108	201,246
	EastGroup Properties Inc.	1,147,038	199,126
^*	Jones Lang LaSalle Inc.	1,233,691	192,209
	Omega Healthcare Investors Inc.	6,053,068	185,769
	Healthcare Realty Trust Inc. Class A	9,836,061	185,508
	First Industrial Realty Trust Inc.	3,415,672	179,801
	Brixmor Property Group Inc.	7,762,761	170,781
	STAG Industrial Inc.	4,633,077	166,235
	Agree Realty Corp.	2,407,139	157,403

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Host Hotels & Resorts Inc.	9,185,252	154,588
	Spirit Realty Capital Inc.	3,649,522	143,718
¹	Medical Properties Trust Inc.	15,453,406	143,099
	Apartment Income REIT Corp. Class A	3,851,139	138,988
	Regency Centers Corp.	2,208,352	136,410
	Ryman Hospitality Properties Inc.	1,450,275	134,760
	Terreno Realty Corp.	2,150,481	129,244
	Kite Realty Group Trust	5,664,973	126,555
	Rayonier Inc.	3,828,382	120,211
	PotlatchDeltic Corp.	2,064,156	109,091
	Independence Realty Trust Inc.	5,800,909	105,693
	Boston Properties Inc.	1,821,188	104,882
	Phillips Edison & Co. Inc.	3,029,723	103,253
	Kilroy Realty Corp.	3,025,145	91,027
	EPR Properties	1,944,417	90,999
	Essential Properties Realty Trust Inc.	3,844,487	90,499
	Cousins Properties Inc.	3,918,157	89,334
	Physicians Realty Trust	6,157,431	86,142
	Vornado Realty Trust	4,460,504	80,914
	Apple Hospitality REIT Inc.	5,323,716	80,441
	Broadstone Net Lease Inc.	4,835,316	74,657
	LXP Industrial Trust	7,557,054	73,681
	National Storage Affiliates Trust	2,052,868	71,501
	Sabra Health Care REIT Inc.	5,971,555	70,285
	Corporate Office Properties Trust	2,906,126	69,020
	Park Hotels & Resorts Inc.	5,291,230	67,834
	Hannon Armstrong Sustainable Infrastructure Capital Inc.	2,709,614	67,740
^*	Howard Hughes Corp.	839,237	66,233
	Highwoods Properties Inc.	2,723,814	65,126
	Macerich Co.	5,555,949	62,616
	DigitalBridge Group Inc.	4,181,245	61,506
	SITE Centers Corp.	4,594,176	60,735
	Outfront Media Inc.	3,835,245	60,290
	Tanger Factory Outlet Centers Inc.	2,580,873	56,960

		Shares	Market Value• ($000)
	National Health Investors Inc.	1,064,664	55,810
	Equity Commonwealth	2,691,829	54,536
	Sunstone Hotel Investors Inc.	5,349,292	54,135
^*	Opendoor Technologies Inc.	13,405,721	53,891
	Innovative Industrial Properties Inc.	724,139	52,869
¹	Douglas Emmett Inc.	4,166,841	52,377
	CareTrust REIT Inc.	2,569,339	51,027
	Kennedy-Wilson Holdings Inc.	3,060,221	49,973
¹	SL Green Realty Corp.	1,662,820	49,968
	St. Joe Co.	979,894	47,368
	Urban Edge Properties	2,884,771	44,512
	Pebblebrook Hotel Trust	3,180,020	44,329
	JBG SMITH Properties	2,878,869	43,298
	Retail Opportunity Investments Corp.	3,092,361	41,778
	DiamondRock Hospitality Co.	5,148,047	41,236
¹	eXp World Holdings Inc.	1,981,611	40,187
	RLJ Lodging Trust	3,905,259	40,107
	Getty Realty Corp.	1,150,447	38,908
	InvenTrust Properties Corp.	1,656,529	38,332
	Elme Communities	2,265,832	37,250
	Service Properties Trust	4,273,282	37,135
	Acadia Realty Trust	2,459,352	35,390
	LTC Properties Inc.	1,069,237	35,306
	Alexander & Baldwin Inc.	1,875,053	34,838
	Xenia Hotels & Resorts Inc.	2,828,121	34,814
^*	Redfin Corp.	2,718,804	33,768
^*	Cushman & Wakefield plc	4,105,324	33,582
^*	Veris Residential Inc.	2,013,069	32,310
	Apartment Investment & Management Co. Class A	3,646,831	31,071
^*	Compass Inc. Class A	8,336,766	29,179
	Uniti Group Inc.	6,162,157	28,469
	Global Net Lease Inc.	2,682,332	27,574
	Empire State Realty Trust Inc. Class A	3,294,537	24,676
	Centerspace	386,436	23,712
	Necessity Retail REIT Inc. Class A	3,466,157	23,431
	RPT Realty	2,239,117	23,399

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Piedmont Office Realty Trust Inc. Class A	3,193,769	23,219
	American Assets Trust Inc.	1,176,264	22,584
	Newmark Group Inc. Class A	3,561,468	22,152
^*	GEO Group Inc.	3,092,297	22,141
	Paramount Group Inc.	4,769,276	21,128
	Brandywine Realty Trust	4,440,724	20,649
	Marcus & Millichap Inc.	596,381	18,792
^*	Anywhere Real Estate Inc.	2,707,804	18,088
	Hudson Pacific Properties Inc.	3,639,458	15,358
	Universal Health Realty Income Trust	320,882	15,268
	Saul Centers Inc.	339,963	12,521
^*	Forestar Group Inc.	451,076	10,172
	Alexander's Inc.	52,779	9,704
	RMR Group Inc. Class A	383,330	8,882
	Bridge Investment Group Holdings Inc. Class A	759,998	8,626
	Summit Hotel Properties Inc.	1,318,659	8,584
	Urstadt Biddle Properties Inc. Class A	393,046	8,356
	Office Properties Income Trust	627,855	4,834
^*,1	WeWork Inc. Class A	6,812,502	1,740
^*,2	Spirit MTA REIT	529,410	—
			9,178,057
Technology (12.7%)
	Entegris Inc.	3,866,151	428,447
^*	PTC Inc.	2,903,970	413,235
	Jabil Inc.	3,255,761	351,394
^*	Lattice Semiconductor Corp.	3,555,256	341,553
^*	Manhattan Associates Inc.	1,602,093	320,226
^*	Dynatrace Inc.	5,625,727	289,556
^*	Super Micro Computer Inc.	1,152,356	287,225
^*	Pure Storage Inc. Class A	7,558,464	278,303
^*	Ceridian HCM Holding Inc.	3,803,987	254,753
^*	F5 Inc.	1,561,045	228,318
	KBR Inc.	3,505,557	228,072
^*	Arrow Electronics Inc.	1,459,023	208,976
^*	CACI International Inc. Class A	588,736	200,665

		Shares	Market Value• ($000)
	National Instruments Corp.	3,396,410	194,954
	Vertiv Holdings Co. Class A	7,846,462	194,357
^*	Coherent Corp.	3,599,515	183,503
^*	SPS Commerce Inc.	943,595	181,227
^*	Rambus Inc.	2,811,368	180,405
^*,1	Wolfspeed Inc.	3,214,975	178,720
^*	Dropbox Inc. Class A	6,580,279	175,496
^*	Nutanix Inc. Class A	6,088,899	170,794
^*	Novanta Inc.	924,772	170,250
	Universal Display Corp.	1,161,394	167,392
^*	Guidewire Software Inc.	2,106,771	160,283
	Science Applications International Corp.	1,394,566	156,861
	Leidos Holdings Inc.	1,771,368	156,731
^*	Axcelis Technologies Inc.	844,534	154,828
^*	Five9 Inc.	1,838,410	151,577
^*	Onto Innovation Inc.	1,264,169	147,238
^*	DXC Technology Co.	5,457,341	145,820
^*	Confluent Inc. Class A	4,121,882	145,544
^*	UiPath Inc. Class A	8,639,738	143,160
	Power Integrations Inc.	1,481,302	140,235
^*	Teradata Corp.	2,611,328	139,471
^*	Procore Technologies Inc.	1,995,908	129,874
^*	Tenable Holdings Inc.	2,965,964	129,168
	Dolby Laboratories Inc. Class A	1,534,744	128,427
^*	Elastic NV	1,993,868	127,847
^*	Aspen Technology Inc.	754,010	126,380
^*	Insight Enterprises Inc.	859,147	125,728
^*	Smartsheet Inc. Class A	3,260,945	124,764
^*	Silicon Laboratories Inc.	785,127	123,846
^*	Workiva Inc. Class A	1,215,674	123,585
^*	IAC Inc.	1,964,637	123,379
^*	Fabrinet	937,496	121,762
	Avnet Inc.	2,360,746	119,100
^*	AppLovin Corp. Class A	4,545,230	116,949
^*	Qualys Inc.	905,289	116,936
^*	Cirrus Logic Inc.	1,415,790	114,693
	TD SYNNEX Corp.	1,218,524	114,541
^*	Black Knight Inc.	1,819,304	108,667
^*	DoubleVerify Holdings Inc.	2,791,750	108,655
	Advanced Energy Industries Inc.	969,400	108,040
^*	Gitlab Inc. Class A	2,092,142	106,929

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
^*	Altair Engineering Inc. Class A	1,379,665	104,634
^*	Box Inc. Class A	3,540,703	104,026
^*	Diodes Inc.	1,121,811	103,756
^*	Toast Inc. Class A	4,461,079	100,687
^*	Samsara Inc. Class A	3,615,665	100,190
^*	IPG Photonics Corp.	733,101	99,570
^*	Blackbaud Inc.	1,391,234	99,028
	Vishay Intertechnology Inc.	3,295,442	96,886
^*	New Relic Inc.	1,450,702	94,934
	Concentrix Corp.	1,142,941	92,292
^*,1	C3.ai Inc. Class A	2,526,998	92,059
^*	MACOM Technology Solutions Holdings Inc.	1,373,139	89,982
^*	Synaptics Inc.	1,020,818	87,157
^*	SentinelOne Inc. Class A	5,766,205	87,070
^*	NCR Corp.	3,445,039	86,815
^*	Sanmina Corp.	1,427,332	86,025
^*	Appfolio Inc. Class A	482,803	83,110
^*	CommVault Systems Inc.	1,135,814	82,483
^*	Ziff Davis Inc.	1,160,194	81,283
^*	Ambarella Inc.	971,402	81,277
^*	Schrodinger Inc.	1,610,563	80,399
	Dun & Bradstreet Holdings Inc.	6,808,531	78,775
^*	Allegro MicroSystems Inc.	1,733,691	78,259
^*	Kyndryl Holdings Inc.	5,876,197	78,036
^*	Rogers Corp.	480,575	77,819
^*,1	MicroStrategy Inc. Class A	227,158	77,783
^*	BlackLine Inc.	1,406,100	75,676
	Amkor Technology Inc.	2,537,817	75,500
^*	Envestnet Inc.	1,264,875	75,070
^*	Perficient Inc.	899,763	74,977
^*	Varonis Systems Inc. Class B	2,692,093	71,744
^*	Plexus Corp.	714,137	70,157
^*	Alteryx Inc. Class A	1,535,096	69,693
^*	RingCentral Inc. Class A	2,102,353	68,810
^*	Freshworks Inc. Class A	3,906,224	68,671
^*	FormFactor Inc.	1,992,516	68,184
^*	Rapid7 Inc.	1,480,822	67,052
^*	Verint Systems Inc.	1,909,237	66,938
	Progress Software Corp.	1,118,579	64,989
^*	Alarm.com Holdings Inc.	1,222,947	63,202
^*	Yelp Inc. Class A	1,689,035	61,498
^*	HashiCorp Inc. Class A	2,313,697	60,573

		Shares	Market Value• ($000)
^*,1	DigitalOcean Holdings Inc.	1,491,113	59,853
^*	MaxLinear Inc. Class A	1,859,166	58,675
^*,1	IonQ Inc.	4,153,559	56,198
^*	Braze Inc. Class A	1,277,563	55,944
^*	CCC Intelligent Solutions Holdings Inc.	4,867,875	54,569
^*	Sprout Social Inc. Class A	1,178,933	54,420
^*	NetScout Systems Inc.	1,748,296	54,110
^*	Cargurus Inc. Class A	2,388,007	54,041
	Pegasystems Inc.	1,071,416	52,821
^*	Impinj Inc.	585,068	52,451
^*	nCino Inc.	1,738,592	52,366
^*	Parsons Corp.	1,083,397	52,155
	Clear Secure Inc. Class A	2,214,750	51,316
^*	Appian Corp. Class A	1,076,176	51,226
^*	JFrog Ltd.	1,841,980	51,023
^*	SiTime Corp.	425,167	50,157
^*	PagerDuty Inc.	2,123,762	47,742
^*	Fastly Inc. Class A	2,952,176	46,556
^*	LiveRamp Holdings Inc.	1,628,516	46,510
^*	Magnite Inc.	3,326,711	45,410
^*	Asana Inc. Class A	2,031,850	44,782
^*	Q2 Holdings Inc.	1,428,067	44,127
^*	Semtech Corp.	1,651,970	42,059
^*	Bumble Inc. Class A	2,487,348	41,738
	Xerox Holdings Corp.	2,799,729	41,688
	CSG Systems International Inc.	777,416	41,001
^*	Paycor HCM Inc.	1,595,962	37,776
^*	TTM Technologies Inc.	2,649,476	36,828
^*	Zuora Inc. Class A	3,337,291	36,610
^*	Credo Technology Group Holding Ltd.	2,102,253	36,453
^*	Squarespace Inc. Class A	1,127,452	35,560
^*	Jamf Holding Corp.	1,761,369	34,382
^*	Veradigm Inc.	2,680,858	33,779
^*	Sprinklr Inc. Class A	2,410,197	33,333
^*	PROS Holdings Inc.	1,070,342	32,966
^*	Veeco Instruments Inc.	1,268,412	32,573
^*	3D Systems Corp.	3,218,240	31,957
^*	Zeta Global Holdings Corp. Class A	3,498,276	29,875
	Methode Electronics Inc.	883,066	29,600
	Shutterstock Inc.	605,244	29,457
^*	Yext Inc.	2,568,691	29,052
^*	Upwork Inc.	3,102,586	28,978
^*	Cerence Inc.	989,118	28,912

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Adeia Inc.	2,609,191	28,727
^*	E2open Parent Holdings Inc.	5,077,655	28,435
^*	Everbridge Inc.	1,047,285	28,172
^*	Intapp Inc.	607,688	25,468
^*	ForgeRock Inc. Class A	1,204,220	24,735
^*	N-able Inc.	1,645,706	23,715
^*	Digital Turbine Inc.	2,440,524	22,648
	Benchmark Electronics Inc.	874,143	22,579
^*,1	Xometry Inc. Class A	1,050,004	22,239
^*	Vertex Inc. Class A	1,112,847	21,700
^*	EngageSmart Inc.	1,076,555	20,551
^*	PubMatic Inc. Class A	1,102,606	20,156
^*	AvePoint Inc.	3,464,176	19,954
^*	Eventbrite Inc. Class A	2,020,698	19,298
^*	ScanSource Inc.	643,164	19,012
^*	Thoughtworks Holding Inc.	2,458,227	18,560
^*	Informatica Inc. Class A	938,493	17,362
^*	nLight Inc.	1,125,146	17,350
^*	Olo Inc. Class A	2,562,998	16,557
^*	BigCommerce Holdings Inc.	1,636,605	16,284
	Ebix Inc.	638,530	16,091
^*	Amplitude Inc. Class A	1,443,802	15,882
^*	Planet Labs PBC	4,916,710	15,832
^*,1	SmartRent Inc. Class A	4,121,243	15,784
^*	Alkami Technology Inc.	959,463	15,726
^*,1	Rumble Inc.	1,726,540	15,401
^*	Vimeo Inc.	3,635,081	14,976
^*	CEVA Inc.	574,626	14,682
^*	Consensus Cloud Solutions Inc.	457,069	14,169
^*	SolarWinds Corp.	1,268,609	13,016
^*	Couchbase Inc.	712,904	11,278
^*	Definitive Healthcare Corp. Class A	996,165	10,958
^*	MeridianLink Inc.	520,688	10,830
^*	Matterport Inc.	3,243,662	10,218
^*	Nextdoor Holdings Inc.	2,877,002	9,379
^*,1	SEMrush Holdings Inc. Class A	916,798	8,774
^*	NerdWallet Inc. Class A	931,007	8,761
^*	Enfusion Inc. Class A	678,607	7,614
^*	EverCommerce Inc.	485,682	5,750
^*,1	MediaAlpha Inc. Class A	517,380	5,334
^*	LivePerson Inc.	969,677	4,383
^*	Expensify Inc. Class A	442,934	3,535

		Shares	Market Value• ($000)
^*	Rackspace Technology Inc.	695,203	1,891
^*	SecureWorks Corp. Class A	197,388	1,427
			15,642,130
Telecommunications (1.3%)
	Iridium Communications Inc.	2,927,252	181,841
^*	Ciena Corp.	3,852,614	163,698
	Juniper Networks Inc.	4,153,085	130,116
^*	Frontier Communications Parent Inc.	6,337,193	118,125
^*	Roku Inc. Class A	1,591,697	101,805
^*	Lumentum Holdings Inc.	1,685,656	95,627
^*	Viasat Inc.	1,887,180	77,865
	Cable One Inc.	117,415	77,151
	Cogent Communications Holdings Inc.	1,122,983	75,566
^*	Calix Inc.	1,454,316	72,585
	InterDigital Inc.	690,738	66,691
^*	Viavi Solutions Inc.	5,745,475	65,096
	Lumen Technologies Inc.	25,941,673	58,628
^*	DISH Network Corp. Class A	6,455,484	42,542
^*	CommScope Holding Co. Inc.	5,147,674	28,981
	Shenandoah Telecommunications Co.	1,232,964	23,957
^*	Infinera Corp.	4,957,413	23,944
	Telephone & Data Systems Inc.	2,579,729	21,231
^*	Globalstar Inc.	18,732,651	20,231
	ADTRAN Holdings Inc.	1,828,372	19,253
^*	Altice USA Inc. Class A	5,586,094	16,870
^*	EchoStar Corp. Class A	885,598	15,356
^*	Gogo Inc.	830,360	14,124
^*	Xperi Inc.	1,043,331	13,720
^*	WideOpenWest Inc.	1,315,436	11,102
	ATN International Inc.	284,632	10,418
^*,1	fuboTV Inc.	3,579,516	7,445
^*	United States Cellular Corp.	334,018	5,889
^*	8x8 Inc.	1,388,341	5,873
^*	NETGEAR Inc.	356,747	5,052
			1,570,782
Utilities (3.3%)
	Atmos Energy Corp.	3,731,865	434,165
	Essential Utilities Inc.	6,145,700	245,275

Table of Contents

Small-Cap Index Fund

		Shares	Market Value• ($000)
	Pinnacle West Capital Corp.	2,925,252	238,291
	NRG Energy Inc.	5,946,608	222,344
^*	Clean Harbors Inc.	1,257,773	206,816
	OGE Energy Corp.	5,173,171	185,769
	UGI Corp.	5,406,748	145,820
	IDACORP Inc.	1,307,141	134,113
^*	Casella Waste Systems Inc. Class A	1,481,804	134,029
	Vistra Corp.	4,813,012	126,342
	National Fuel Gas Co.	2,371,210	121,785
	New Jersey Resources Corp.	2,504,443	118,210
	Portland General Electric Co.	2,495,453	116,862
	Southwest Gas Holdings Inc.	1,750,098	111,394
^*	Stericycle Inc.	2,387,788	110,889
	ONE Gas Inc.	1,430,633	109,887
	Ormat Technologies Inc.	1,310,831	105,469
	Black Hills Corp.	1,721,777	103,754
	Hawaiian Electric Industries Inc.	2,830,165	102,452
	PNM Resources Inc.	2,217,043	99,989
^*	Sunrun Inc.	5,290,508	94,488
	NorthWestern Corp.	1,543,805	87,626
	ALLETE Inc.	1,480,387	85,818
	American States Water Co.	955,082	83,092
	Spire Inc.	1,290,551	81,872
	Avista Corp.	1,956,888	76,847
	California Water Service Group	1,446,231	74,669
	MGE Energy Inc.	934,089	73,896
	Clearway Energy Inc. Class C	2,135,568	60,992
^*,1	Sunnova Energy International Inc.	2,553,031	46,746

		Shares	Market Value• ($000)
	Northwest Natural Holding Co.	906,647	39,031
	Clearway Energy Inc. Class A	885,890	23,919
^*	Enviri Corp.	2,059,552	20,328
	Excelerate Energy Inc. Class A	474,692	9,650
^*,1	NuScale Power Corp.	1,364,213	9,277
			4,041,906
Total Common Stocks (Cost $98,357,044)			122,570,550
Temporary Cash Investments (2.2%)
Money Market Fund (2.2%)
^3,4	Vanguard Market Liquidity Fund, 5.150% (Cost $2,779,381)	27,803,463	2,779,790
Total Investments (101.6%) (Cost $101,136,425)			125,350,340
Other Assets and Liabilities—Net (-1.6%)			(2,020,680)
Net Assets (100%)			123,329,660

Cost is in $000.

•	See Note A in Notes to Financial Statements.

*	Non-income-producing security.
1	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,029,287,000.
2	Security value determined using significant unobservable inputs.
3	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
4	Collateral of $2,147,389,000 was received for securities on loan.

REIT—Real Estate Investment Trust.

Table of Contents

Small-Cap Index Fund

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
			($000)
	Expiration	Number of Long (Short) Contracts	Notional Amount	Value and Unrealized Appreciation (Depreciation)
Long Futures Contracts
E-mini Russell 2000 Index	September 2023	3,169	301,641	1,833
E-mini S&P 500 Index	September 2023	160	35,906	1,112
E-mini S&P Mid-Cap 400 Index	September 2023	1,539	406,927	9,040
				11,985

Over-the-Counter Total Return Swaps
Reference Entity	Termination Date	Counterparty	Notional Amount ($000)	Floating Interest Rate Received (Paid)¹ (%)	Value and Unrealized Appreciation ($000)	Value and Unrealized (Depreciation) ($000)
Arbor Realty Trust Inc.	1/31/24	GSI	7,095	(5.076)	301	—
Ollie's Bargain Outlet Holdings Inc.	1/31/24	GSI	18,372	(5.076)	—	(1,029)
					301	(1,029)

1	Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly.
	GSI—Goldman Sachs International.

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Index Fund

Statement of Assets and Liabilities

As of June 30, 2023


($000s, except shares, footnotes, and per-share amounts)	Amount
Assets
Investments in Securities, at Value¹
Unaffiliated Issuers (Cost $98,357,044)	122,570,550
Affiliated Issuers (Cost $2,779,381)	2,779,790
Total Investments in Securities	125,350,340
Investment in Vanguard	4,001
Cash	115,244
Cash Collateral Pledged—Futures Contracts	43,609
Cash Collateral Pledged—Over-the-Counter Swap Contracts	840
Receivables for Investment Securities Sold	202
Receivables for Accrued Income	127,913
Receivables for Capital Shares Issued	57,974
Variation Margin Receivable—Futures Contracts	3,847
Unrealized Appreciation—Over-the-Counter Swap Contracts	301
Total Assets	125,704,271
Liabilities
Payables for Investment Securities Purchased	142,642
Collateral for Securities on Loan	2,147,389
Payables for Capital Shares Redeemed	81,209
Payables to Vanguard	2,342
Unrealized Depreciation—Over-the-Counter Swap Contracts	1,029
Total Liabilities	2,374,611
Net Assets	123,329,660
1 Includes $2,029,287,000 of securities on loan.

Table of Contents

Small-Cap Index Fund

Statement of Assets and Liabilities (continued)
At June 30, 2023, net assets consisted of:
($000s, except shares, footnotes, and per-share amounts)	Amount
Paid-in Capital	108,370,504
Total Distributable Earnings (Loss)	14,959,156
Net Assets	123,329,660

Investor Shares—Net Assets
Applicable to 4,151,102 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	395,618
Net Asset Value Per Share—Investor Shares	$95.30

ETF Shares—Net Assets
Applicable to 226,868,402 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	45,125,225
Net Asset Value Per Share—ETF Shares	$198.90

Admiral Shares—Net Assets
Applicable to 508,712,464 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	48,485,917
Net Asset Value Per Share—Admiral Shares	$95.31

Institutional Shares—Net Assets
Applicable to 202,714,475 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	19,320,119
Net Asset Value Per Share—Institutional Shares	$95.31

Institutional Plus Shares—Net Assets
Applicable to 36,361,894 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	10,002,781
Net Asset Value Per Share—Institutional Plus Shares	$275.09

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Index Fund

Statement of Operations


	Six Months Ended June 30, 2023
	($000)
Investment Income
Income
Dividends¹	822,133
Interest²	17,719
Securities Lending—Net	95,750
Total Income	935,602
Expenses
The Vanguard Group—Note B
Investment Advisory Services	1,316
Management and Administrative—Investor Shares	328
Management and Administrative—ETF Shares	8,124
Management and Administrative—Admiral Shares	9,400
Management and Administrative—Institutional Shares	2,954
Management and Administrative—Institutional Plus Shares	1,081
Marketing and Distribution—Investor Shares	11
Marketing and Distribution—ETF Shares	1,267
Marketing and Distribution—Admiral Shares	1,236
Marketing and Distribution—Institutional Shares	307
Marketing and Distribution—Institutional Plus Shares	172
Custodian Fees	298
Shareholders’ Reports—Investor Shares	1
Shareholders’ Reports—ETF Shares	665
Shareholders’ Reports—Admiral Shares	309
Shareholders’ Reports—Institutional Shares	109
Shareholders’ Reports—Institutional Plus Shares	38
Trustees’ Fees and Expenses	30
Other Expenses	13
Total Expenses	27,659
Net Investment Income	907,943
Realized Net Gain (Loss)
Investment Securities Sold^2,3	(510,963)
Futures Contracts	3,318
Swap Contracts	4,439
Realized Net Gain (Loss)	(503,206)

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Statement of Operations (continued)
	Six Months Ended June 30, 2023
	($000)
Change in Unrealized Appreciation (Depreciation)
Investment Securities²	9,920,760
Futures Contracts	22,202
Swap Contracts	706
Change in Unrealized Appreciation (Depreciation)	9,943,668
Net Increase (Decrease) in Net Assets Resulting from Operations	10,348,405

1	Dividends are net of foreign withholding taxes of $3,000.
2	Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $16,664,000, ($30,000), and ($173,000), respectively. Purchases and sales are for temporary cash investment purposes.
3	Includes $2,105,983,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

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Statement of Changes in Net Assets


	Six Months Ended June 30, 2023	Year Ended December 31, 2022
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	907,943	1,779,640
Realized Net Gain (Loss)	(503,206)	3,670,352
Change in Unrealized Appreciation (Depreciation)	9,943,668	(30,136,638)
Net Increase (Decrease) in Net Assets Resulting from Operations	10,348,405	(24,686,646)
Distributions
Investor Shares	(2,915)	(6,214)
ETF Shares	(340,175)	(624,299)
Admiral Shares	(366,368)	(686,977)
Institutional Shares	(145,105)	(267,947)
Institutional Plus Shares	(76,322)	(147,092)
Total Distributions	(930,885)	(1,732,529)
Capital Share Transactions
Investor Shares	(61,506)	(85,166)
ETF Shares	1,165,834	14,486
Admiral Shares	(224,521)	58,508
Institutional Shares	470,794	(448,033)
Institutional Plus Shares	91,242	(1,200,734)
Net Increase (Decrease) from Capital Share Transactions	1,441,843	(1,660,939)
Total Increase (Decrease)	10,859,363	(28,080,114)
Net Assets
Beginning of Period	112,470,297	140,550,411
End of Period	123,329,660	112,470,297

See accompanying Notes, which are an integral part of the Financial Statements.

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Financial Highlights

Investor Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$87.93	$108.35	$93.20	$79.35	$63.21	$70.76
Investment Operations
Net Investment Income¹	.648	1.256	1.230	.928	.832	.967
Net Realized and Unrealized Gain (Loss) on Investments	7.387	(20.439)	15.130	13.897	16.319	(7.552)
Total from Investment Operations	8.035	(19.183)	16.360	14.825	17.151	(6.585)
Distributions
Dividends from Net Investment Income	(.665)	(1.237)	(1.210)	(.975)	(1.011)	(.965)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.665)	(1.237)	(1.210)	(.975)	(1.011)	(.965)
Net Asset Value, End of Period	$95.30	$87.93	$108.35	$93.20	$79.35	$63.21
Total Return²	9.19%	-17.71%	17.59%	18.96%	27.22%	-9.43%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$396	$424	$619	$709	$754	$3,332
Ratio of Total Expenses to Average Net Assets	0.17%	0.17%³	0.17%	0.17%	0.17%	0.17%
Ratio of Net Investment Income to Average Net Assets	1.53%	1.34%	1.17%	1.26%	1.14%	1.34%
Portfolio Turnover Rate⁴	5%	14%	17%	22%	16%	15%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.17%.
4	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Financial Highlights

ETF Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$183.52	$226.15	$194.54	$165.64	$131.94	$147.71
Investment Operations
Net Investment Income¹	1.473	2.891	2.769	2.262	2.298	2.239
Net Realized and Unrealized Gain (Loss) on Investments	15.412	(42.700)	31.637	28.863	33.707	(15.808)
Total from Investment Operations	16.885	(39.809)	34.406	31.125	36.005	(13.569)
Distributions
Dividends from Net Investment Income	(1.505)	(2.821)	(2.796)	(2.225)	(2.305)	(2.201)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(1.505)	(2.821)	(2.796)	(2.225)	(2.305)	(2.201)
Net Asset Value, End of Period	$198.90	$183.52	$226.15	$194.54	$165.64	$131.94
Total Return	9.26%	-17.60%	17.72%	19.08%	27.37%	-9.30%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$45,125	$40,593	$50,187	$37,492	$27,442	$20,914
Ratio of Total Expenses to Average Net Assets	0.05%	0.05%²	0.05%	0.05%	0.05%	0.05%
Ratio of Net Investment Income to Average Net Assets	1.66%	1.49%	1.25%	1.47%	1.49%	1.46%
Portfolio Turnover Rate³	5%	14%	17%	22%	16%	15%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Financial Highlights

Admiral Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$87.94	$108.37	$93.22	$79.37	$63.23	$70.78
Investment Operations
Net Investment Income¹	.703	1.383	1.358	1.029	1.108	1.067
Net Realized and Unrealized Gain (Loss) on Investments	7.388	(20.461)	15.131	13.887	16.136	(7.563)
Total from Investment Operations	8.091	(19.078)	16.489	14.916	17.244	(6.496)
Distributions
Dividends from Net Investment Income	(.721)	(1.352)	(1.339)	(1.066)	(1.104)	(1.054)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.721)	(1.352)	(1.339)	(1.066)	(1.104)	(1.054)
Net Asset Value, End of Period	$95.31	$87.94	$108.37	$93.22	$79.37	$63.23
Total Return²	9.26%	-17.61%	17.73%	19.11%	27.37%	-9.31%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$48,486	$44,944	$55,266	$47,313	$42,386	$31,382
Ratio of Total Expenses to Average Net Assets	0.05%	0.05%³	0.05%	0.05%	0.05%	0.05%
Ratio of Net Investment Income to Average Net Assets	1.65%	1.48%	1.29%	1.40%	1.50%	1.46%
Portfolio Turnover Rate⁴	5%	14%	17%	22%	16%	15%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%.
4	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Financial Highlights

Institutional Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$87.93	$108.36	$93.22	$79.37	$63.22	$70.78
Investment Operations
Net Investment Income¹	.708	1.392	1.367	1.034	1.101	1.076
Net Realized and Unrealized Gain (Loss) on Investments	7.398	(20.461)	15.123	13.889	16.161	(7.575)
Total from Investment Operations	8.106	(19.069)	16.490	14.923	17.262	(6.499)
Distributions
Dividends from Net Investment Income	(.726)	(1.361)	(1.350)	(1.073)	(1.112)	(1.061)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.726)	(1.361)	(1.350)	(1.073)	(1.112)	(1.061)
Net Asset Value, End of Period	$95.31	$87.93	$108.36	$93.22	$79.37	$63.22
Total Return	9.27%	-17.60%	17.73%	19.12%	27.40%	-9.32%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$19,320	$17,363	$21,841	$18,957	$17,337	$14,454
Ratio of Total Expenses to Average Net Assets	0.04%	0.04%²	0.04%	0.04%	0.04%	0.04%
Ratio of Net Investment Income to Average Net Assets	1.67%	1.49%	1.29%	1.41%	1.49%	1.47%
Portfolio Turnover Rate³	5%	14%	17%	22%	16%	15%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Financial Highlights

Institutional Plus Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$253.81	$312.78	$269.07	$229.09	$182.49	$204.30
Investment Operations
Net Investment Income¹	2.055	3.998	4.029	2.988	3.186	3.102
Net Realized and Unrealized Gain (Loss) on Investments	21.332	(59.013)	43.607	40.111	46.645	(21.825)
Total from Investment Operations	23.387	(55.015)	47.636	43.099	49.831	(18.723)
Distributions
Dividends from Net Investment Income	(2.107)	(3.955)	(3.926)	(3.119)	(3.231)	(3.087)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(2.107)	(3.955)	(3.926)	(3.119)	(3.231)	(3.087)
Net Asset Value, End of Period	$275.09	$253.81	$312.78	$269.07	$229.09	$182.49
Total Return	9.27%	-17.60%	17.75%	19.13%	27.40%	-9.30%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$10,003	$9,146	$12,638	$10,172	$8,846	$7,866
Ratio of Total Expenses to Average Net Assets	0.03%	0.03%²	0.03%	0.03%	0.03%	0.03%
Ratio of Net Investment Income to Average Net Assets	1.68%	1.48%	1.32%	1.41%	1.49%	1.48%
Portfolio Turnover Rate³	5%	14%	17%	22%	16%	15%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.03%.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Notes to Financial Statements

Vanguard Small-Cap Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, ETF Shares, Admiral Shares, Institutional Shares, and Institutional Plus Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

In March 2023, the board of trustees approved a plan of reorganization whereby the fund will reorganize from Vanguard Index Funds (such fund the "Predecessor Fund”) to a newly created shell series under Vanguard Bond Index Funds. The purpose of the reorganization is to improve administrative efficiencies for all funds within the Vanguard complex by spreading the filing and reporting requirements across different legal entities. After the reorganization the surviving fund will be identical in its management to the Predecessor Fund and its investment objective, strategies, and policies will remain unchanged. The reorganization will be accomplished by a tax-free exchange and is anticipated to be completed before the end of the year.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

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During the six months ended June 30, 2023, the fund’s average investments in long and short futures contracts represented 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

During the six months ended June 30, 2023, the fund’s average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

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which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

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borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended June 30, 2023, the fund did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At June 30, 2023, the fund had contributed to Vanguard capital in the amount of $4,001,000, representing less than 0.01% of the fund’s net assets and 1.60% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.

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The following table summarizes the market value of the fund's investments and derivatives as of June 30, 2023, based on the inputs used to value them:

	Level 1 ($000)	Level 2 ($000)	Level 3 ($000)	Total ($000)
Investments
Assets
Common Stocks	122,570,550	—	—	122,570,550
Temporary Cash Investments	2,779,790	—	—	2,779,790
Total	125,350,340	—	—	125,350,340

Derivative Financial Instruments
Assets
Futures Contracts¹	11,985	—	—	11,985
Swap Contracts	—	301	—	301
Total	11,985	301	—	12,286
Liabilities
Swap Contracts	—	1,029	—	1,029

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.

D. As of June 30, 2023, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount ($000)
Tax Cost	101,512,403
Gross Unrealized Appreciation	39,460,290
Gross Unrealized Depreciation	(15,611,096)
Net Unrealized Appreciation (Depreciation)	23,849,194

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at December 31, 2022, the fund had available capital losses totaling $8,236,193,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending December 31, 2023; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended June 30, 2023, the fund purchased $10,946,809,000 of investment securities and sold $9,485,062,000 of investment securities, other than temporary cash investments. Purchases and sales include $4,524,974,000 and $3,380,510,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

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resulting in net realized loss of $220,183,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

F. Capital share transactions for each class of shares were:

	Six Months Ended June 30, 2023		Year Ended December 31, 2022
	Amount ($000)	Shares (000)	Amount ($000)	Shares (000)
Investor Shares
Issued	14,677	159	35,984	380
Issued in Lieu of Cash Distributions	2,915	33	6,214	70
Redeemed	(79,098)	(862)	(127,364)	(1,341)
Net Increase (Decrease)—Investor Shares	(61,506)	(670)	(85,166)	(891)
ETF Shares
Issued	4,661,142	24,247	12,638,116	65,853
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(3,495,308)	(18,575)	(12,623,630)	(66,575)
Net Increase (Decrease)—ETF Shares	1,165,834	5,672	14,486	(722)
Admiral Shares
Issued	2,647,389	28,830	5,970,913	63,999
Issued in Lieu of Cash Distributions	326,416	3,650	610,188	6,862
Redeemed	(3,198,326)	(34,866)	(6,522,593)	(69,746)
Net Increase (Decrease)—Admiral Shares	(224,521)	(2,386)	58,508	1,115
Institutional Shares
Issued	1,597,710	17,448	2,809,736	30,018
Issued in Lieu of Cash Distributions	136,787	1,529	252,294	2,838
Redeemed	(1,263,703)	(13,717)	(3,510,063)	(36,950)
Net Increase (Decrease)—Institutional Shares	470,794	5,260	(448,033)	(4,094)
Institutional Plus Shares
Issued	407,992	1,518	1,096,807	4,082
Issued in Lieu of Cash Distributions	76,244	295	147,006	572
Redeemed	(392,994)	(1,487)	(2,444,547)	(9,024)
Net Increase (Decrease)—Institutional Plus Shares	91,242	326	(1,200,734)	(4,370)

G. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental ‎disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

To the extent the fund’s investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

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Small-Cap Growth Index Fund

Fund Allocation

As of June 30, 2023

Basic Materials	2.1%
Consumer Discretionary	15.3
Consumer Staples	3.3
Energy	6.1
Financials	3.8
Health Care	19.4
Industrials	19.8
Real Estate	5.7
Technology	21.2
Telecommunications	1.9
Utilities	1.4

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.

Table of Contents

Small-Cap Growth Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of June 30, 2023

		Shares	Market Value• ($000)
Common Stocks (99.9%)
Basic Materials (2.0%)
	Royal Gold Inc.	969,785	111,312
	Hexcel Corp.	1,245,499	94,683
^*	RBC Bearings Inc.	428,446	93,174
^*	Livent Corp.	2,651,285	72,725
	Balchem Corp.	475,413	64,090
	NewMarket Corp.	99,631	40,063
^*	MP Materials Corp.	1,707,038	39,057
	Quaker Chemical Corp.	199,400	38,863
^*	Ingevity Corp.	510,346	29,682
	Hecla Mining Co.	4,301,216	22,151
	Compass Minerals International Inc.	304,173	10,342
^*	Century Aluminum Co.	750,913	6,548
^*,1	Amyris Inc.	1,912,332	1,970
			624,660
Consumer Discretionary (15.3%)
^*	Liberty Media Corp.-Liberty Formula One Class C	2,899,213	218,253
^*	Deckers Outdoor Corp.	389,447	205,496
^*	Five Below Inc.	822,255	161,606
^*	Floor & Decor Holdings Inc. Class A	1,490,556	154,958
^*	DraftKings Inc. Class A	5,794,817	153,968
	Churchill Downs Inc.	995,180	138,499
^*	SiteOne Landscape Supply Inc.	664,187	111,158
	Texas Roadhouse Inc. Class A	989,289	111,077
^*	Skechers USA Inc. Class A	1,982,410	104,394
	Pool Corp.	273,735	102,552
	Gentex Corp.	3,450,250	100,954
^*	Crocs Inc.	869,873	97,809
	Tempur Sealy International Inc.	2,413,119	96,694
	Wingstop Inc.	442,338	88,538
	Wyndham Hotels & Resorts Inc.	1,267,393	86,905
^*	elf Beauty Inc.	753,939	86,122

		Shares	Market Value• ($000)
^*	Planet Fitness Inc. Class A	1,253,959	84,567
^*	RH	243,964	80,408
^*,1	Wayfair Inc. Class A	1,216,384	79,077
^*	Bright Horizons Family Solutions Inc.	853,148	78,874
^*	Caesars Entertainment Inc.	1,510,959	77,014
	Wynn Resorts Ltd.	714,855	75,496
	Hyatt Hotels Corp. Class A	655,955	75,159
	Vail Resorts Inc.	297,559	74,913
	Boyd Gaming Corp.	1,045,683	72,539
^*	Duolingo Inc. Class A	487,874	69,737
^*	Fox Factory Holding Corp.	623,994	67,710
	World Wrestling Entertainment Inc. Class A	609,662	66,130
^*	Visteon Corp.	418,173	60,054
¹	Choice Hotels International Inc.	452,391	53,165
^*	Ollie's Bargain Outlet Holdings Inc.	913,453	52,916
^*	Skyline Champion Corp.	798,985	52,294
^*	Hilton Grand Vacations Inc.	1,149,852	52,249
^*	YETI Holdings Inc.	1,276,911	49,595
	Madison Square Garden Sports Corp.	257,684	48,457
^*	Grand Canyon Education Inc.	454,251	46,883
	LCI Industries	354,152	44,751
^*	Shake Shack Inc. Class A	553,512	43,019
	Nexstar Media Group Inc. Class A	251,018	41,807
^*	Topgolf Callaway Brands Corp.	2,058,337	40,858
^*	LGI Homes Inc.	295,782	39,898
	Columbia Sportswear Co.	504,539	38,971
^*	Frontdoor Inc.	1,208,331	38,546
^*,1	Carvana Co. Class A	1,413,004	36,625

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
^*	Peloton Interactive Inc. Class A	4,721,493	36,308
	Papa John's International Inc.	482,862	35,650
	Inter Parfums Inc.	260,326	35,204
^*	ACV Auctions Inc. Class A	1,820,370	31,438
^*	Dorman Products Inc.	395,518	31,179
^*	Sonos Inc.	1,897,407	30,985
	Jack in the Box Inc.	301,480	29,403
^*	Allegiant Travel Co.	231,667	29,255
^*	SeaWorld Entertainment Inc.	519,565	29,101
^*,1	QuantumScape Corp. Class A	3,591,756	28,698
^*	Gentherm Inc.	489,863	27,682
^*	Six Flags Entertainment Corp.	1,046,738	27,194
^*	Dave & Buster's Entertainment Inc.	544,509	24,263
^*,1	Luminar Technologies Inc. Class A	3,526,204	24,260
^*	Liberty Media Corp.-Liberty Formula One Class A	351,785	23,788
^*	TripAdvisor Inc.	1,434,096	23,648
^*	Driven Brands Holdings Inc.	867,172	23,466
^*	Leslie's Inc.	2,446,617	22,974
^*	Overstock.com Inc.	668,396	21,770
^*	Coursera Inc.	1,559,870	20,309
^*	Boot Barn Holdings Inc.	221,136	18,728
^*	Cars.com Inc.	937,142	18,574
^*	Integral Ad Science Holding Corp.	1,030,864	18,535
^*	Cavco Industries Inc.	60,872	17,957
¹	Camping World Holdings Inc. Class A	591,793	17,813
^*	iRobot Corp.	387,635	17,540
^*,1	Dutch Bros Inc. Class A	607,722	17,290
	Steven Madden Ltd.	505,792	16,534
^*	Portillo's Inc. Class A	730,987	16,469
^*	Madison Square Garden Entertainment Corp. Class A	488,073	16,409
^*	Sweetgreen Inc. Class A	1,233,953	15,819
^*	Sabre Corp.	4,909,983	15,663
^*	Chegg Inc.	1,681,528	14,932
^*	Figs Inc. Class A	1,770,103	14,639
^*	Life Time Group Holdings Inc.	721,007	14,182
	Spirit Airlines Inc.	807,435	13,856
^*	Mister Car Wash Inc.	1,368,287	13,204
^*	Sun Country Airlines Holdings Inc.	540,769	12,156
^*,1	Fisker Inc. Class A	2,125,970	11,990
^*	Stride Inc.	302,208	11,251

		Shares	Market Value• ($000)
^*	Sphere Entertainment Co.	409,519	11,217
^*	Corsair Gaming Inc.	603,676	10,709
^*	Revolve Group Inc. Class A	603,397	9,896
	Levi Strauss & Co. Class A	657,915	9,494
	Monro Inc.	220,723	8,968
^*	Bowlero Corp.	666,422	7,757
^*,1	Dream Finders Homes Inc. Class A	314,934	7,744
^*	Vizio Holding Corp. Class A	965,123	6,515
^*	Udemy Inc.	586,240	6,290
^*	Sciplay Corp. Class A	314,060	6,181
^*	Petco Health & Wellness Co. Inc. Class A	592,544	5,274
^*	BJ's Restaurants Inc.	165,349	5,258
^*	Cava Group Inc.	123,508	5,058
^*	Frontier Group Holdings Inc.	481,823	4,659
^*	Angi Inc. Class A	1,063,250	3,509
^*,1	Arhaus Inc. Class A	308,535	3,218
^*	Rush Street Interactive Inc.	896,627	2,797
^*,1	SES AI Corp.	919,495	2,244
^*	2U Inc.	282,803	1,140
^*,1	Vacasa Inc. Class A	487,698	331
^*	Brilliant Earth Group Inc. Class A	82,084	318
^*	Savers Value Village Inc.	11,969	284
			4,649,672
Consumer Staples (3.3%)
^*	Darling Ingredients Inc.	2,356,787	150,339
	Casey's General Stores Inc.	550,279	134,202
	Lamb Weston Holdings Inc.	1,075,819	123,665
^*	Celsius Holdings Inc.	623,381	93,002
^*	BellRing Brands Inc.	1,959,512	71,718
^*	Simply Good Foods Co.	1,467,298	53,688
^*,1	Freshpet Inc.	711,487	46,823
	Coca-Cola Consolidated Inc.	68,060	43,288
^*	Boston Beer Co. Inc. Class A	135,761	41,874
	WD-40 Co.	200,690	37,860
^*	Post Holdings Inc.	376,962	32,664
	Lancaster Colony Corp.	142,415	28,638
	J & J Snack Foods Corp.	170,792	27,047
	Cal-Maine Foods Inc.	555,304	24,989
^*	National Beverage Corp.	345,094	16,685
	Utz Brands Inc.	959,167	15,692
	Medifast Inc.	160,978	14,836
^*	Sovos Brands Inc.	673,512	13,174
^*,1	Beyond Meat Inc.	902,200	11,711
^*	Beauty Health Co.	1,274,938	10,671

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
	Tootsie Roll Industries Inc.	211,522	7,490
^*	Olaplex Holdings Inc.	1,451,219	5,399
^*	USANA Health Sciences Inc.	85,614	5,397
^*	Vital Farms Inc.	183,259	2,197
			1,013,049
Energy (6.1%)
	Targa Resources Corp.	3,339,829	254,161
	EQT Corp.	2,669,770	109,808
	NOV Inc.	5,808,820	93,173
	PDC Energy Inc.	1,290,982	91,840
	ChampionX Corp.	2,921,848	90,694
	Matador Resources Co.	1,670,830	87,418
	Civitas Resources Inc.	1,187,076	82,347
^*	Transocean Ltd.	10,197,830	71,487
^*	Weatherford International plc	1,065,514	70,771
^*	Noble Corp. plc	1,639,781	67,739
^*	Shoals Technologies Group Inc. Class A	2,510,872	64,178
^*	Denbury Inc.	706,223	60,919
	Texas Pacific Land Corp.	45,387	59,752
	Magnolia Oil & Gas Corp. Class A	2,670,987	55,824
^*	Array Technologies Inc.	2,118,897	47,887
^*,1	Plug Power Inc.	4,438,052	46,111
	Cactus Inc. Class A	949,190	40,170
^*,1	ChargePoint Holdings Inc.	4,179,508	36,738
^*	Callon Petroleum Co.	914,842	32,083
¹	Sitio Royalties Corp. Class A	1,192,445	31,326
	Liberty Energy Inc. Class A	2,330,292	31,156
	Alpha Metallurgical Resources Inc.	181,906	29,898
^*	NEXTracker Inc. Class A	709,865	28,260
	SM Energy Co.	891,044	28,184
^*	Oceaneering International Inc.	1,489,996	27,863
	New Fortress Energy Inc.	909,508	24,357
	Helmerich & Payne Inc.	682,581	24,197
^*	Ameresco Inc. Class A	479,293	23,308
	Comstock Resources Inc.	1,436,225	16,660
^*,1	Fluence Energy Inc. Class A	604,984	16,117
^*,1	FuelCell Energy Inc.	5,998,786	12,957
^*	NexTier Oilfield Solutions Inc.	1,448,474	12,949
^*,1	SunPower Corp.	1,293,318	12,674
^*,1	Stem Inc.	2,184,551	12,496
^*	Dril-Quip Inc.	505,362	11,760
	RPC Inc.	1,439,718	10,294
	Core Laboratories Inc.	345,027	8,022
^*	Helix Energy Solutions Group Inc.	1,064,261	7,854

		Shares	Market Value• ($000)
¹	Kinetik Holdings Inc. Class A	217,659	7,649
^*,1	EVgo Inc. Class A	1,508,940	6,036
^*,1	Tellurian Inc.	3,924,825	5,534
¹	Enviva Inc.	450,780	4,891
	Atlas Energy Solutions Inc. Class A	257,578	4,472
^*	OPAL Fuels Inc. Class A	266,098	1,985
			1,863,999
Financials (3.8%)
	Kinsale Capital Group Inc.	324,825	121,550
^*,1	SoFi Technologies Inc.	11,802,736	98,435
^*	Robinhood Markets Inc. Class A	9,152,885	91,346
	Erie Indemnity Co. Class A	375,613	78,882
	Blue Owl Capital Inc. Class A	6,576,707	76,619
	Morningstar Inc.	376,749	73,869
^*	Ryan Specialty Holdings Inc. Class A	1,426,959	64,056
^*,1	Credit Acceptance Corp.	94,905	48,205
^*	Focus Financial Partners Inc. Class A	829,545	43,559
	Hamilton Lane Inc. Class A	483,111	38,639
^*,1	Upstart Holdings Inc.	1,038,990	37,206
	Houlihan Lokey Inc. Class A	374,337	36,801
^*,1	Marathon Digital Holdings Inc.	2,351,159	32,587
	Pinnacle Financial Partners Inc.	535,315	30,326
^*,1	Riot Platforms Inc.	2,459,165	29,067
^*	BRP Group Inc. Class A	942,429	23,353
	PJT Partners Inc. Class A	330,010	22,982
	Cohen & Steers Inc.	363,117	21,057
^*	Goosehead Insurance Inc. Class A	295,117	18,560
^*	Clearwater Analytics Holdings Inc. Class A	1,144,707	18,167
	Safehold Inc.	709,123	16,828
^*,1	Lemonade Inc.	924,703	15,581
^*	Oscar Health Inc. Class A	1,896,525	15,286
^*	Open Lending Corp.	1,427,249	15,000
	ServisFirst Bancshares Inc.	361,325	14,785
^*,1	Trupanion Inc.	548,603	10,797
	TFS Financial Corp.	829,441	10,426
^*	Palomar Holdings Inc.	174,586	10,133
^*	Triumph Financial Inc.	164,158	9,968
	StepStone Group Inc. Class A	394,668	9,792
	P10 Inc. Class A	639,825	7,230
	Live Oak Bancshares Inc.	245,763	6,466

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
^*	AssetMark Financial Holdings Inc.	163,955	4,863
^*,1	Hagerty Inc. Class A	311,962	2,920
			1,155,341
Health Care (19.4%)
^*	Exact Sciences Corp.	2,663,840	250,135
	Bio-Techne Corp.	2,325,864	189,860
^*	Penumbra Inc.	536,873	184,717
^*	Shockwave Medical Inc.	540,949	154,392
^*	Sarepta Therapeutics Inc.	1,306,778	149,652
^*	Inspire Medical Systems Inc.	430,807	139,857
^*	Neurocrine Biosciences Inc.	1,441,200	135,905
^*	Apellis Pharmaceuticals Inc.	1,461,899	133,179
^*	Masimo Corp.	740,624	121,870
	Chemed Corp.	221,808	120,147
^*	Repligen Corp.	780,669	110,433
	Bruker Corp.	1,408,168	104,092
^*	Exelixis Inc.	4,807,000	91,862
^*	Lantheus Holdings Inc.	1,008,738	84,653
^*	Ionis Pharmaceuticals Inc.	2,006,354	82,321
^*	Option Care Health Inc.	2,520,041	81,876
^*	Medpace Holdings Inc.	338,215	81,229
^*	Intra-Cellular Therapies Inc.	1,274,258	80,686
^*	HealthEquity Inc.	1,261,383	79,644
^*	Charles River Laboratories International Inc.	378,387	79,556
^*	Natera Inc.	1,605,046	78,102
^*	agilon health Inc.	4,484,891	77,768
^*	Alkermes plc	2,451,709	76,738
	Ensign Group Inc.	784,811	74,918
^*	10X Genomics Inc. Class A	1,302,795	72,748
^*	Merit Medical Systems Inc.	850,081	71,101
^*	Halozyme Therapeutics Inc.	1,942,910	70,081
^*	Globus Medical Inc. Class A	1,149,299	68,429
^*	Haemonetics Corp.	747,284	63,624
^*	Neogen Corp.	2,870,507	62,434
^*	Vaxcyte Inc.	1,246,964	62,273
	CONMED Corp.	450,897	61,272
^*	QuidelOrtho Corp.	738,936	61,228
^*	ICU Medical Inc.	337,211	60,088
^*	Guardant Health Inc.	1,619,094	57,964
^*	Teladoc Health Inc.	2,279,682	57,722
^*	Novocure Ltd.	1,390,389	57,701
^*	Blueprint Medicines Corp.	891,142	56,320
^*	Doximity Inc. Class A	1,579,574	53,737

		Shares	Market Value• ($000)
^*	Arrowhead Pharmaceuticals Inc.	1,501,592	53,547
^*	Amicus Therapeutics Inc.	4,195,780	52,699
^*	R1 RCM Inc.	2,782,195	51,331
^*	Intellia Therapeutics Inc.	1,238,089	50,489
^*	TG Therapeutics Inc.	1,988,026	49,383
^*	Omnicell Inc.	666,563	49,106
^*	Glaukos Corp.	677,167	48,221
^*	Evolent Health Inc. Class A	1,582,487	47,949
^*	Surgery Partners Inc.	1,028,571	46,275
^*	Ultragenyx Pharmaceutical Inc.	990,880	45,709
^*	Denali Therapeutics Inc.	1,518,028	44,797
^*	iRhythm Technologies Inc.	428,009	44,650
^*	PTC Therapeutics Inc.	1,096,971	44,614
^*,1	Progyny Inc.	1,116,719	43,932
^*	Cytokinetics Inc.	1,343,438	43,823
^*	ACADIA Pharmaceuticals Inc.	1,803,411	43,192
^*	Insmed Inc.	2,017,337	42,566
^*,1	Privia Health Group Inc.	1,539,158	40,187
^*	Inari Medical Inc.	676,256	39,318
^*,1	Ginkgo Bioworks Holdings Inc. Class A	21,095,230	39,237
^*	REVOLUTION Medicines Inc.	1,414,764	37,845
^*	Axonics Inc.	744,962	37,598
^*	STAAR Surgical Co.	714,651	37,569
^*	Vir Biotechnology Inc.	1,485,746	36,445
^*	ImmunoGen Inc.	1,891,702	35,696
^*	Sage Therapeutics Inc.	751,096	35,317
^*	Beam Therapeutics Inc.	1,070,589	34,184
^*	AtriCure Inc.	663,597	32,755
^*	Certara Inc.	1,772,354	32,275
^*	NuVasive Inc.	775,521	32,254
^*	NeoGenomics Inc.	1,886,342	30,314
^*	Mirati Therapeutics Inc.	774,183	27,971
^*	Sotera Health Co.	1,462,055	27,545
^*	Veracyte Inc.	1,070,790	27,273
^*	CorVel Corp.	139,546	27,002
^*,1	Corcept Therapeutics Inc.	1,201,611	26,736
^*	Pacira BioSciences Inc.	646,035	25,887
^*	Cerevel Therapeutics Holdings Inc.	811,669	25,803
^*	Tandem Diabetes Care Inc.	955,503	23,448
^*	Xencor Inc.	892,984	22,298
^*	Relay Therapeutics Inc.	1,708,312	21,456
^*	Integra LifeSciences Holdings Corp.	514,879	21,177
^*	Ironwood Pharmaceuticals Inc. Class A	1,952,456	20,774
^*	Maravai LifeSciences Holdings Inc. Class A	1,657,575	20,604

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
^*	Apollo Medical Holdings Inc.	638,193	20,167
^*	PROCEPT BioRobotics Corp.	566,172	20,014
^*	Zentalis Pharmaceuticals Inc.	703,539	19,847
^*	Hims & Hers Health Inc.	2,079,669	19,549
^*	SpringWorks Therapeutics Inc.	739,567	19,391
^*	Silk Road Medical Inc.	544,010	17,675
^*	Harmony Biosciences Holdings Inc.	487,582	17,158
^*	Amylyx Pharmaceuticals Inc.	794,607	17,140
^*	Arvinas Inc.	671,142	16,658
^*	Twist Bioscience Corp.	802,788	16,425
^*	Treace Medical Concepts Inc.	634,788	16,238
^*	Outset Medical Inc.	727,890	15,919
^*,1	Warby Parker Inc. Class A	1,212,121	14,170
^*	AdaptHealth Corp. Class A	1,091,282	13,281
^*	Kymera Therapeutics Inc.	572,461	13,161
^*	Adaptive Biotechnologies Corp.	1,920,496	12,887
^*	Cytek Biosciences Inc.	1,504,379	12,847
^*	Nevro Corp.	503,128	12,789
^*	Recursion Pharmaceuticals Inc. Class A	1,638,095	12,237
^*	Verve Therapeutics Inc.	641,019	12,019
^*	Phreesia Inc.	376,173	11,665
^*	Agios Pharmaceuticals Inc.	410,964	11,638
^*	REGENXBIO Inc.	578,486	11,564
^*	Supernus Pharmaceuticals Inc.	382,679	11,503
^*,1	LifeStance Health Group Inc.	1,114,229	10,173
^*	EQRx Inc.	5,405,194	10,054
^*	Health Catalyst Inc.	790,298	9,879
^*	BioCryst Pharmaceuticals Inc.	1,396,854	9,834
^*	Editas Medicine Inc.	1,162,578	9,568
^*,1	Novavax Inc.	1,276,101	9,481
	HealthStream Inc.	362,928	8,913
^*	Rocket Pharmaceuticals Inc.	446,152	8,865
^*,1	Sana Biotechnology Inc.	1,415,849	8,438
^*,1	Prime Medicine Inc.	574,937	8,423
^*,1	Lyell Immunopharma Inc.	2,583,591	8,216
^*	Agiliti Inc.	497,112	8,202
^*	Alignment Healthcare Inc.	1,392,739	8,008
^*	Arcus Biosciences Inc.	351,336	7,136
^*	American Well Corp. Class A	3,299,775	6,930

		Shares	Market Value• ($000)
^*	Accolade Inc.	490,015	6,600
^*	OPKO Health Inc.	2,857,106	6,200
^*	Theravance Biopharma Inc.	598,451	6,194
^*	Fate Therapeutics Inc.	1,235,154	5,879
^*	GoodRx Holdings Inc. Class A	1,045,017	5,768
^*	Alector Inc.	924,483	5,556
^*,1	Allogene Therapeutics Inc.	1,076,678	5,351
^*	ACELYRIN Inc.	251,507	5,256
^*	AnaptysBio Inc.	254,661	5,180
^*	Cano Health Inc.	3,711,610	5,159
^*,1	Clover Health Investments Corp. Class A	5,235,235	4,697
^*,1	Butterfly Network Inc.	1,960,942	4,510
^*,1	ImmunityBio Inc.	1,611,516	4,480
^*	FibroGen Inc.	1,370,689	3,701
^*	CareDx Inc.	378,073	3,214
^*	Erasca Inc.	1,114,856	3,077
^*,1	ProKidney Corp. Class A	250,485	2,803
^*	Innovage Holding Corp.	298,153	2,236
^*	Cullinan Oncology Inc.	189,340	2,037
^*,1	P3 Health Partners Inc.	654,846	1,958
^*,2	OmniAb Inc. 12.5 Earnout	45,320	—
^*,2	OmniAb Inc. 15 Earnout	45,320	—
			5,909,483
Industrials (19.8%)
^*	Fair Isaac Corp.	350,823	283,889
	Graco Inc.	2,362,821	204,030
^*	Axon Enterprise Inc.	1,036,802	202,301
	Nordson Corp.	761,339	188,949
	Watsco Inc.	493,744	188,349
	Toro Co.	1,540,383	156,580
	Lennox International Inc.	471,948	153,888
	Cognex Corp.	2,551,067	142,911
^*	WillScot Mobile Mini Holdings Corp.	2,988,288	142,810
^*	Generac Holdings Inc.	917,612	136,843
^*	Saia Inc.	391,839	134,170
	A O Smith Corp.	1,839,238	133,860
	Advanced Drainage Systems Inc.	1,107,908	126,058
^*	TopBuild Corp.	468,849	124,723
^*	WEX Inc.	632,167	115,099
^*	Paylocity Holding Corp.	617,783	113,999
^*	GXO Logistics Inc.	1,755,781	110,298
	Littelfuse Inc.	366,623	106,801
^*	Trex Co. Inc.	1,606,278	105,308
	Curtiss-Wright Corp.	566,102	103,970
	Landstar System Inc.	530,547	102,152
	Genpact Ltd.	2,718,836	102,147
^*	Chart Industries Inc.	630,758	100,789
	Eagle Materials Inc.	522,330	97,373
	BWX Technologies Inc.	1,349,950	96,616

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
	Jack Henry & Associates Inc.	537,851	89,999
	Simpson Manufacturing Co. Inc.	629,802	87,228
^*	ATI Inc.	1,897,075	83,908
^*	Euronet Worldwide Inc.	695,599	81,642
	Maximus Inc.	896,981	75,804
^*	ExlService Holdings Inc.	466,004	70,395
	Exponent Inc.	750,126	70,002
	Badger Meter Inc.	432,456	63,813
^*	AMN Healthcare Services Inc.	584,754	63,808
	Insperity Inc.	535,550	63,709
^*	Aerojet Rocketdyne Holdings Inc.	1,134,319	62,240
	AAON Inc.	641,718	60,840
^*	AZEK Co. Inc. Class A	2,003,109	60,674
	Franklin Electric Co. Inc.	580,544	59,738
^*	Shift4 Payments Inc. Class A	846,780	57,505
	John Bean Technologies Corp.	469,261	56,921
^*	MasTec Inc.	466,240	55,002
	Federal Signal Corp.	855,272	54,763
	Herc Holdings Inc.	398,891	54,588
^*	Middleby Corp.	367,621	54,345
	Woodward Inc.	443,837	52,777
	Installed Building Products Inc.	357,001	50,037
	Armstrong World Industries Inc.	667,113	49,006
^*	Itron Inc.	669,534	48,273
^*	TriNet Group Inc.	483,185	45,888
^*,1	Affirm Holdings Inc. Class A	2,964,003	45,438
^*	Flywire Corp.	1,448,916	44,974
^*,1	Bloom Energy Corp. Class A	2,708,911	44,291
	Comfort Systems USA Inc.	264,422	43,418
^*	Core & Main Inc. Class A	1,367,244	42,849
	Forward Air Corp.	383,852	40,731
	FTAI Aviation Ltd.	1,252,537	39,655
^*	Verra Mobility Corp. Class A	2,001,344	39,467
	Mueller Water Products Inc. Class A	2,312,851	37,538
^*	ACI Worldwide Inc.	1,601,656	37,110
^*	AeroVironment Inc.	354,877	36,297
^*	Marqeta Inc. Class A	7,183,175	34,982
^*	Masonite International Corp.	326,961	33,494
^*	Remitly Global Inc.	1,710,170	32,185
	Helios Technologies Inc.	482,700	31,902
^*,1	Enovix Corp.	1,753,834	31,639
^*	Mercury Systems Inc.	817,399	28,274

		Shares	Market Value• ($000)
^*	Kratos Defense & Security Solutions Inc.	1,886,835	27,057
^*	Hayward Holdings Inc.	1,887,978	24,261
^*	Dycom Industries Inc.	206,168	23,431
	Tennant Co.	273,696	22,199
^*,1	PureCycle Technologies Inc.	1,935,919	20,695
	Lindsay Corp.	162,764	19,424
^*	Legalzoom.com Inc.	1,554,175	18,774
^*	Vicor Corp.	336,053	18,147
^*	Payoneer Global Inc.	3,717,205	17,880
^*	Gibraltar Industries Inc.	224,839	14,147
^*	Cimpress plc	233,529	13,890
^*,1	Virgin Galactic Holdings Inc.	3,551,517	13,780
^*,1	Leonardo DRS Inc.	753,963	13,074
^*	Janus International Group Inc.	1,193,310	12,721
	Enerpac Tool Group Corp. Class A	422,748	11,414
^*	Air Transport Services Group Inc.	503,031	9,492
^*	ZipRecruiter Inc. Class A	440,406	7,822
^*,1	Symbotic Inc. Class A	181,682	7,778
^*,1	Desktop Metal Inc. Class A	3,802,708	6,731
^*,1	Nikola Corp.	4,363,012	6,021
^*	CryoPort Inc.	319,925	5,519
^*	Sterling Check Corp.	429,548	5,266
	Gorman-Rupp Co.	164,642	4,747
^*	TaskUS Inc. Class A	380,235	4,304
^*,1	Global Business Travel Group I	361,908	2,617
^*	Forrester Research Inc.	85,240	2,480
^*	Paymentus Holdings Inc. Class A	232,575	2,456
^*	FARO Technologies Inc.	132,913	2,153
^*,1	Atmus Filtration Technologies Inc.	90,593	1,989
^*,1	TuSimple Holdings Inc. Class A	1,027,873	1,706
^*	Hyliion Holdings Corp.	936,805	1,564
^*	Microvast Holdings Inc.	572,011	915
^*,2	Godha Cabcon & Insulation Ltd.	289	—
			6,035,516
Real Estate (5.7%)
	Equity LifeStyle Properties Inc.	2,475,702	165,600
	American Homes 4 Rent Class A	4,534,429	160,746
	CubeSmart	3,318,693	148,213
	Rexford Industrial Realty Inc.	2,797,981	146,111
	Americold Realty Trust Inc.	3,989,922	128,874

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
	Healthcare Realty Trust Inc. Class A	5,622,836	106,047
	Host Hotels & Resorts Inc.	5,249,163	88,343
	Spirit Realty Capital Inc.	2,085,387	82,123
	Ryman Hospitality Properties Inc.	830,214	77,143
	Terreno Realty Corp.	1,228,457	73,830
	Kite Realty Group Trust	3,235,663	72,285
	Lamar Advertising Co. Class A	646,784	64,193
	Independence Realty Trust Inc.	3,307,055	60,255
	Essential Properties Realty Trust Inc.	2,200,723	51,805
	National Storage Affiliates Trust	1,175,135	40,930
^*	Opendoor Technologies Inc.	7,674,419	30,851
	Innovative Industrial Properties Inc.	414,529	30,265
	Phillips Edison & Co. Inc.	867,241	29,556
	St. Joe Co.	561,015	27,119
	Kilroy Realty Corp.	865,985	26,057
¹	eXp World Holdings Inc.	1,134,435	23,006
	RLJ Lodging Trust	2,235,833	22,962
	Hannon Armstrong Sustainable Infrastructure Capital Inc.	775,840	19,396
^*	Redfin Corp.	1,556,496	19,332
	Paramount Group Inc.	2,731,389	12,100
	Universal Health Realty Income Trust	183,749	8,743
	Marcus & Millichap Inc.	170,844	5,383
	Alexander's Inc.	14,957	2,750
			1,724,018
Technology (21.2%)
	Entegris Inc.	2,210,728	244,993
^*	PTC Inc.	1,661,351	236,410
^*	Lattice Semiconductor Corp.	2,033,480	195,356
^*	Manhattan Associates Inc.	916,334	183,157
^*	Dynatrace Inc.	3,215,955	165,525
^*	Pure Storage Inc. Class A	4,322,300	159,147
^*	Ceridian HCM Holding Inc.	2,173,540	145,562
	National Instruments Corp.	1,941,681	111,453
	Vertiv Holdings Co. Class A	4,483,538	111,057
^*	Coherent Corp.	2,057,404	104,886
^*	SPS Commerce Inc.	539,345	103,587
^*	Dropbox Inc. Class A	3,760,994	100,306
^*	Nutanix Inc. Class A	3,480,375	97,625
^*	Novanta Inc.	528,555	97,307

		Shares	Market Value• ($000)
^*	Wolfspeed Inc.	1,737,508	96,588
	Universal Display Corp.	663,788	95,672
^*	Guidewire Software Inc.	1,203,529	91,565
^*	Axcelis Technologies Inc.	482,674	88,489
^*	Five9 Inc.	1,049,743	86,551
^*	Onto Innovation Inc.	722,291	84,125
^*	Confluent Inc. Class A	2,353,460	83,101
^*	Super Micro Computer Inc.	329,722	82,183
^*	UiPath Inc. Class A	4,947,387	81,978
	Power Integrations Inc.	846,298	80,119
^*	Procore Technologies Inc.	1,139,011	74,115
^*	Tenable Holdings Inc.	1,693,630	73,758
	Dolby Laboratories Inc. Class A	878,548	73,517
^*	Aspen Technology Inc.	430,394	72,138
^*	Smartsheet Inc. Class A	1,862,699	71,267
^*	Silicon Laboratories Inc.	448,457	70,740
^*	Workiva Inc. Class A	694,305	70,583
^*	Elastic NV	1,097,335	70,361
^*	Fabrinet	535,522	69,554
^*	AppLovin Corp. Class A	2,602,077	66,951
^*	Qualys Inc.	517,057	66,788
^*	DoubleVerify Holdings Inc.	1,598,141	62,200
	Advanced Energy Industries Inc.	553,574	61,696
^*	Gitlab Inc. Class A	1,197,704	61,215
^*	Altair Engineering Inc. Class A	789,760	59,895
^*	Diodes Inc.	642,210	59,398
^*	Box Inc. Class A	2,021,642	59,396
^*	Toast Inc. Class A	2,553,889	57,641
^*	Samsara Inc. Class A	2,069,995	57,360
^*	IPG Photonics Corp.	419,679	57,001
^*	New Relic Inc.	830,450	54,345
^*,1	C3.ai Inc. Class A	1,446,615	52,700
^*	Rambus Inc.	804,384	51,617
^*	MACOM Technology Solutions Holdings Inc.	786,050	51,510
^*	SentinelOne Inc. Class A	3,301,021	49,845
^*	Appfolio Inc. Class A	276,342	47,570
^*	CommVault Systems Inc.	650,171	47,215
^*	Ambarella Inc.	554,232	46,373
^*	Schrodinger Inc.	922,073	46,030
^*	Allegro MicroSystems Inc.	992,357	44,795
^*	Rogers Corp.	275,147	44,555
^*,1	MicroStrategy Inc. Class A	130,054	44,533
^*	BlackLine Inc.	804,934	43,322
^*	Envestnet Inc.	723,991	42,969
^*	Perficient Inc.	515,112	42,924
^*	Varonis Systems Inc. Class B	1,541,069	41,070
^*	Alteryx Inc. Class A	878,794	39,897

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
^*	RingCentral Inc. Class A	1,203,492	39,390
^*	Freshworks Inc. Class A	2,236,088	39,310
^*	FormFactor Inc.	1,140,662	39,033
^*	Rapid7 Inc.	847,735	38,385
^*	Alarm.com Holdings Inc.	700,077	36,180
^*	Yelp Inc. Class A	967,026	35,209
^*	HashiCorp Inc. Class A	1,324,676	34,680
^*,1	DigitalOcean Holdings Inc.	853,594	34,263
^*	MaxLinear Inc. Class A	1,064,340	33,591
^*,1	IonQ Inc.	2,377,861	32,172
^*	Braze Inc. Class A	731,459	32,031
^*	Sprout Social Inc. Class A	674,895	31,153
^*	Cargurus Inc. Class A	1,367,081	30,937
	Pegasystems Inc.	613,329	30,237
^*	Impinj Inc.	334,944	30,028
^*	nCino Inc.	995,276	29,978
	Clear Secure Inc. Class A	1,267,860	29,376
^*	Appian Corp. Class A	616,047	29,324
^*	JFrog Ltd.	1,054,477	29,209
^*	SiTime Corp.	243,429	28,717
^*	Blackbaud Inc.	398,189	28,343
^*	PagerDuty Inc.	1,215,744	27,330
^*	Fastly Inc. Class A	1,690,023	26,652
^*	LiveRamp Holdings Inc.	932,735	26,639
^*	Magnite Inc.	1,904,404	25,995
^*	Asana Inc. Class A	1,155,113	25,459
^*	Q2 Holdings Inc.	817,509	25,261
^*	Semtech Corp.	945,693	24,077
^*	Bumble Inc. Class A	1,423,994	23,895
^*	Paycor HCM Inc.	913,612	21,625
^*	Zuora Inc. Class A	1,909,329	20,945
^*	Credo Technology Group Holding Ltd.	1,203,467	20,868
^*	Squarespace Inc. Class A	645,398	20,356
^*	Jamf Holding Corp.	1,008,327	19,683
^*	Sprinklr Inc. Class A	1,379,626	19,080
^*	PROS Holdings Inc.	612,741	18,872
^*	Veeco Instruments Inc.	726,128	18,647
^*	3D Systems Corp.	1,842,428	18,295
^*	Zeta Global Holdings Corp. Class A	1,990,377	16,998
	Shutterstock Inc.	346,495	16,864
^*	Yext Inc.	1,470,419	16,630
^*	Upwork Inc.	1,776,125	16,589
^*	Everbridge Inc.	599,565	16,128
^*	Intapp Inc.	347,858	14,579
^*	ForgeRock Inc. Class A	689,351	14,159
^*	Digital Turbine Inc.	1,397,118	12,965
^*,1	Xometry Inc. Class A	601,065	12,731
^*	Vertex Inc. Class A	637,078	12,423
^*	EngageSmart Inc.	616,319	11,766
^*	PubMatic Inc. Class A	630,963	11,534
^*	AvePoint Inc.	1,982,689	11,420
^*	Eventbrite Inc. Class A	1,156,946	11,049

		Shares	Market Value• ($000)
^*	Thoughtworks Holding Inc.	1,407,277	10,625
^*	nLight Inc.	644,141	9,933
^*	Olo Inc. Class A	1,467,256	9,479
^*	BigCommerce Holdings Inc.	936,999	9,323
^*	Amplitude Inc. Class A	826,583	9,092
^*	Planet Labs PBC	2,814,705	9,063
^*	SmartRent Inc. Class A	2,359,448	9,037
^*	Alkami Technology Inc.	548,710	8,993
^*	Vimeo Inc.	2,081,520	8,576
^*	CEVA Inc.	328,979	8,405
^*	Consensus Cloud Solutions Inc.	261,627	8,110
^*	N-able Inc.	471,017	6,787
^*	Definitive Healthcare Corp. Class A	570,396	6,274
^*,1	MeridianLink Inc.	298,137	6,201
^*	Matterport Inc.	1,843,415	5,807
^*	Nextdoor Holdings Inc.	1,647,534	5,371
^*	NerdWallet Inc. Class A	535,988	5,044
^*	SEMrush Holdings Inc. Class A	525,024	5,025
^*,1	Rumble Inc.	494,362	4,410
^*	Enfusion Inc. Class A	388,558	4,360
^*	EverCommerce Inc.	277,974	3,291
^*,1	MediaAlpha Inc. Class A	295,698	3,049
^*	LivePerson Inc.	554,950	2,508
^*	SecureWorks Corp. Class A	112,127	811
			6,464,220
Telecommunications (1.9%)
	Iridium Communications Inc.	1,673,262	103,943
^*	Ciena Corp.	2,201,860	93,557
^*	Roku Inc. Class A	911,689	58,312
^*	Lumentum Holdings Inc.	964,996	54,744
^*	Viasat Inc.	1,080,364	44,576
	Cable One Inc.	66,973	44,007
	Cogent Communications Holdings Inc.	640,570	43,104
^*	Calix Inc.	832,544	41,552
	InterDigital Inc.	197,698	19,088
^*,1	Infinera Corp.	2,835,531	13,696
^*	Globalstar Inc.	10,723,833	11,582
	ADTRAN Holdings Inc.	1,046,772	11,022
^*	Gogo Inc.	475,340	8,085
	Shenandoah Telecommunications Co.	352,843	6,856
	ATN International Inc.	162,944	5,964
^*,1	fuboTV Inc.	2,049,688	4,263
^*	8x8 Inc.	794,379	3,360
^*	WideOpenWest Inc.	376,828	3,180
			570,891
Utilities (1.4%)
^*	Clean Harbors Inc.	719,049	118,233

Table of Contents

Small-Cap Growth Index Fund

		Shares	Market Value• ($000)
^*	Casella Waste Systems Inc. Class A	831,622	75,220
	Vistra Corp.	2,756,701	72,363
	Ormat Technologies Inc.	750,342	60,373
^*	Sunrun Inc.	3,028,546	54,090
^*,1	Sunnova Energy International Inc.	1,461,526	26,761
	California Water Service Group	413,932	21,371
^*,1	NuScale Power Corp.	390,285	2,654
			431,065
Total Common Stocks (Cost $26,131,912)			30,441,914
Temporary Cash Investments (2.6%)
Money Market Fund (2.6%)
^3,4	Vanguard Market Liquidity Fund, 5.150% (Cost $802,673)	8,029,422	802,781
Total Investments (102.5%) (Cost $26,934,585)			31,244,695
Other Assets and Liabilities—Net (-2.5%)			(769,688)
Net Assets (100%)			30,475,007

Cost is in $000.

•	See Note A in Notes to Financial Statements.

*	Non-income-producing security.
1	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $729,107,000.
2	Security value determined using significant unobservable inputs.
3	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
4	Collateral of $771,498,000 was received for securities on loan.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
			($000)
	Expiration	Number of Long (Short) Contracts	Notional Amount	Value and Unrealized Appreciation (Depreciation)
Long Futures Contracts
E-mini Russell 2000 Index	September 2023	166	15,801	109

Table of Contents

Small-Cap Growth Index Fund

Statement of Assets and Liabilities

As of June 30, 2023


($000s, except shares, footnotes, and per-share amounts)	Amount
Assets
Investments in Securities, at Value¹
Unaffiliated Issuers (Cost $26,131,912)	30,441,914
Affiliated Issuers (Cost $802,673)	802,781
Total Investments in Securities	31,244,695
Investment in Vanguard	1,001
Cash Collateral Pledged—Futures Contracts	530
Cash Collateral Pledged—Over-the-Counter Swap Contracts	5,310
Receivables for Investment Securities Sold	17,838
Receivables for Accrued Income	14,539
Receivables for Capital Shares Issued	8,171
Variation Margin Receivable—Futures Contracts	26
Unrealized Appreciation—Over-the-Counter Swap Contracts	1,164
Total Assets	31,293,274
Liabilities
Due to Custodian	18,509
Payables for Investment Securities Purchased	10,343
Collateral for Securities on Loan	771,498
Payables for Capital Shares Redeemed	10,885
Payables to Vanguard	850
Unrealized Depreciation—Over-the-Counter Swap Contracts	6,182
Total Liabilities	818,267
Net Assets	30,475,007
1 Includes $729,107,000 of securities on loan.

Table of Contents

Small-Cap Growth Index Fund

Statement of Assets and Liabilities (continued)
At June 30, 2023, net assets consisted of:
($000s, except shares, footnotes, and per-share amounts)	Amount
Paid-in Capital	31,193,584
Total Distributable Earnings (Loss)	(718,577)
Net Assets	30,475,007

Investor Shares—Net Assets
Applicable to 1,385,411 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	89,467
Net Asset Value Per Share—Investor Shares	$64.58

ETF Shares—Net Assets
Applicable to 61,781,268 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	14,189,161
Net Asset Value Per Share—ETF Shares	$229.67

Admiral Shares—Net Assets
Applicable to 159,510,323 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	12,880,680
Net Asset Value Per Share—Admiral Shares	$80.75

Institutional Shares—Net Assets
Applicable to 51,272,835 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	3,315,699
Net Asset Value Per Share—Institutional Shares	$64.67

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Growth Index Fund

Statement of Operations


	Six Months Ended June 30, 2023
	($000)
Investment Income
Income
Dividends	58,818
Interest¹	1,038
Securities Lending—Net	27,540
Total Income	87,396
Expenses
The Vanguard Group—Note B
Investment Advisory Services	324
Management and Administrative—Investor Shares	76
Management and Administrative—ETF Shares	3,682
Management and Administrative—Admiral Shares	3,643
Management and Administrative—Institutional Shares	775
Marketing and Distribution—Investor Shares	3
Marketing and Distribution—ETF Shares	405
Marketing and Distribution—Admiral Shares	333
Marketing and Distribution—Institutional Shares	54
Custodian Fees	132
Shareholders’ Reports—Investor Shares	—
Shareholders’ Reports—ETF Shares	260
Shareholders’ Reports—Admiral Shares	84
Shareholders’ Reports—Institutional Shares	55
Trustees’ Fees and Expenses	7
Other Expenses	13
Total Expenses	9,846
Net Investment Income	77,550
Realized Net Gain (Loss)
Investment Securities Sold^1,2	(554,930)
Futures Contracts	789
Swap Contracts	(6,099)
Realized Net Gain (Loss)	(560,240)

Table of Contents

Small-Cap Growth Index Fund

Statement of Changes in Net Assets


	Six Months Ended June 30, 2023	Year Ended December 31, 2022
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	77,550	211,970
Realized Net Gain (Loss)	(560,240)	(631,355)
Change in Unrealized Appreciation (Depreciation)	4,414,293	(10,014,591)
Net Increase (Decrease) in Net Assets Resulting from Operations	3,931,603	(10,433,976)
Distributions
Investor Shares	(225)	(378)
ETF Shares	(42,950)	(65,152)
Admiral Shares	(39,571)	(62,927)
Institutional Shares	(10,357)	(16,002)
Total Distributions	(93,103)	(144,459)
Capital Share Transactions
Investor Shares	(2,254)	(30,485)
ETF Shares	401,673	383,979
Admiral Shares	(250,963)	(400,974)
Institutional Shares	(44,930)	230,883
Net Increase (Decrease) from Capital Share Transactions	103,526	183,403
Total Increase (Decrease)	3,942,026	(10,395,032)
Net Assets
Beginning of Period	26,532,981	36,928,013
End of Period	30,475,007	26,532,981

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Growth Index Fund

Financial Highlights

Investor Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$56.38	$79.21	$75.20	$55.89	$42.36	$45.24
Investment Operations
Net Investment Income¹	.125	.371	.257	.241	.178	.274
Net Realized and Unrealized Gain (Loss) on Investments	8.236	(22.943)	3.938	19.331	13.617	(2.879)
Total from Investment Operations	8.361	(22.572)	4.195	19.572	13.795	(2.605)
Distributions
Dividends from Net Investment Income	(.161)	(.258)	(.185)	(.262)	(.265)	(.275)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.161)	(.258)	(.185)	(.262)	(.265)	(.275)
Net Asset Value, End of Period	$64.58	$56.38	$79.21	$75.20	$55.89	$42.36
Total Return²	14.85%	-28.49%	5.58%	35.12%	32.60%	-5.80%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$89	$80	$149	$209	$171	$1,461
Ratio of Total Expenses to Average Net Assets	0.19%	0.19%³	0.19%	0.19%	0.19%	0.19%
Ratio of Net Investment Income to Average Net Assets	0.56%	0.60%	0.32%	0.42%	0.35%	0.58%
Portfolio Turnover Rate⁴	9%	24%	29%	24%	18%	22%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.19%.
4	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Growth Index Fund

Financial Highlights

ETF Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$200.53	$281.61	$267.36	$198.68	$150.57	$160.81
Investment Operations
Net Investment Income¹	.587	1.623	1.291	1.129	1.175	1.214
Net Realized and Unrealized Gain (Loss) on Investments	29.256	(81.603)	13.975	68.729	48.077	(10.263)
Total from Investment Operations	29.843	(79.980)	15.266	69.858	49.252	(9.049)
Distributions
Dividends from Net Investment Income	(.703)	(1.100)	(1.016)	(1.178)	(1.142)	(1.191)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.703)	(1.100)	(1.016)	(1.178)	(1.142)	(1.191)
Net Asset Value, End of Period	$229.67	$200.53	$281.61	$267.36	$198.68	$150.57
Total Return	14.91%	-28.40%	5.71%	35.29%	32.75%	-5.68%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$14,189	$12,036	$16,379	$14,436	$9,833	$7,286
Ratio of Total Expenses to Average Net Assets	0.07%	0.07%²	0.07%	0.07%	0.07%	0.07%
Ratio of Net Investment Income to Average Net Assets	0.70%	0.74%	0.45%	0.55%	0.64%	0.70%
Portfolio Turnover Rate³	9%	24%	29%	24%	18%	22%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Growth Index Fund

Financial Highlights

Admiral Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$70.51	$99.01	$94.02	$69.87	$52.95	$56.55
Investment Operations
Net Investment Income¹	.205	.568	.448	.392	.419	.423
Net Realized and Unrealized Gain (Loss) on Investments	10.282	(28.682)	4.899	24.172	16.902	(3.605)
Total from Investment Operations	10.487	(28.114)	5.347	24.564	17.321	(3.182)
Distributions
Dividends from Net Investment Income	(.247)	(.386)	(.357)	(.414)	(.401)	(.418)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.247)	(.386)	(.357)	(.414)	(.401)	(.418)
Net Asset Value, End of Period	$80.75	$70.51	$99.01	$94.02	$69.87	$52.95
Total Return²	14.90%	-28.39%	5.69%	35.30%	32.76%	-5.68%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$12,881	$11,482	$16,594	$16,149	$12,717	$8,560
Ratio of Total Expenses to Average Net Assets	0.07%	0.07%³	0.07%	0.07%	0.07%	0.07%
Ratio of Net Investment Income to Average Net Assets	0.69%	0.73%	0.45%	0.54%	0.65%	0.70%
Portfolio Turnover Rate⁴	9%	24%	29%	24%	18%	22%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%.
4	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Growth Index Fund

Financial Highlights

Institutional Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$56.46	$79.29	$75.29	$55.95	$42.40	$45.29
Investment Operations
Net Investment Income¹	.167	.465	.367	.319	.327	.335
Net Realized and Unrealized Gain (Loss) on Investments	8.244	(22.979)	3.927	19.358	13.550	(2.886)
Total from Investment Operations	8.411	(22.514)	4.294	19.677	13.877	(2.551)
Distributions
Dividends from Net Investment Income	(.201)	(.316)	(.294)	(.337)	(.327)	(.339)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.201)	(.316)	(.294)	(.337)	(.327)	(.339)
Net Asset Value, End of Period	$64.67	$56.46	$79.29	$75.29	$55.95	$42.40
Total Return	14.92%	-28.39%	5.70%	35.31%	32.77%	-5.69%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$3,316	$2,935	$3,805	$3,676	$3,218	$2,858
Ratio of Total Expenses to Average Net Assets	0.06%	0.06%²	0.06%	0.06%	0.06%	0.06%
Ratio of Net Investment Income to Average Net Assets	0.70%	0.75%	0.46%	0.55%	0.64%	0.71%
Portfolio Turnover Rate³	9%	24%	29%	24%	18%	22%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Growth Index Fund

Notes to Financial Statements

Vanguard Small-Cap Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers four classes of shares: Investor Shares, ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

During the six months ended June 30, 2023, the fund’s average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

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Small-Cap Growth Index Fund

respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.

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Small-Cap Growth Index Fund

In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended June 30, 2023, the fund did not utilize the credit facilities or the Interfund Lending Program.

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Small-Cap Growth Index Fund

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At June 30, 2023, the fund had contributed to Vanguard capital in the amount of $1,001,000, representing less than 0.01% of the fund’s net assets and 0.40% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

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Small-Cap Growth Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of June 30, 2023, based on the inputs used to value them:

	Level 1 ($000)	Level 2 ($000)	Level 3 ($000)	Total ($000)
Investments
Assets
Common Stocks	30,441,914	—	—	30,441,914
Temporary Cash Investments	802,781	—	—	802,781
Total	31,244,695	—	—	31,244,695

Derivative Financial Instruments
Assets
Futures Contracts¹	109	—	—	109
Swap Contracts	—	1,164	—	1,164
Total	109	1,164	—	1,273
Liabilities
Swap Contracts	—	6,182	—	6,182

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.

D. As of June 30, 2023, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount ($000)
Tax Cost	27,065,619
Gross Unrealized Appreciation	8,555,675
Gross Unrealized Depreciation	(4,381,508)
Net Unrealized Appreciation (Depreciation)	4,174,167

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at December 31, 2022, the fund had available capital losses totaling $4,278,431,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending December 31, 2023; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended June 30, 2023, the fund purchased $4,141,569,000 of investment securities and sold $3,993,905,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,609,929,000 and $1,416,257,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

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Small-Cap Growth Index Fund

resulting in net realized loss of $282,497,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

F. Capital share transactions for each class of shares were:

	Six Months Ended June 30, 2023		Year Ended December 31, 2022
	Amount ($000)	Shares (000)	Amount ($000)	Shares (000)
Investor Shares
Issued	6,569	107	11,003	172
Issued in Lieu of Cash Distributions	225	3	378	7
Redeemed	(9,048)	(148)	(41,866)	(639)
Net Increase (Decrease)—Investor Shares	(2,254)	(38)	(30,485)	(460)
ETF Shares
Issued	1,868,265	8,559	4,457,870	20,609
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(1,466,592)	(6,800)	(4,073,891)	(18,750)
Net Increase (Decrease)—ETF Shares	401,673	1,759	383,979	1,859
Admiral Shares
Issued	675,925	8,842	1,685,175	21,680
Issued in Lieu of Cash Distributions	35,251	467	56,168	800
Redeemed	(962,139)	(12,650)	(2,142,317)	(27,226)
Net Increase (Decrease)—Admiral Shares	(250,963)	(3,341)	(400,974)	(4,746)
Institutional Shares
Issued	282,003	4,623	652,486	10,669
Issued in Lieu of Cash Distributions	9,663	160	14,928	265
Redeemed	(336,596)	(5,491)	(436,531)	(6,944)
Net Increase (Decrease)—Institutional Shares	(44,930)	(708)	230,883	3,990

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

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Small-Cap Value Index Fund

Fund Allocation

As of June 30, 2023

Basic Materials	5.5%
Consumer Discretionary	15.8
Consumer Staples	3.4
Energy	4.5
Financials	19.9
Health Care	6.2
Industrials	24.0
Real Estate	8.9
Technology	6.3
Telecommunications	0.8
Utilities	4.7

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.

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Small-Cap Value Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of June 30, 2023

		Shares	Market Value• ($000)
Common Stocks (99.8%)
Basic Materials (5.5%)
	Reliance Steel & Aluminum Co.	1,052,218	285,772
	Steel Dynamics Inc.	1,437,405	156,577
^*	Cleveland-Cliffs Inc.	9,221,053	154,545
	Olin Corp.	2,342,879	120,401
	Commercial Metals Co.	2,096,470	110,400
	Alcoa Corp.	3,194,745	108,398
	Timken Co.	1,166,566	106,776
	UFP Industries Inc.	1,056,064	102,491
^*	Univar Solutions Inc.	2,823,048	101,178
	Chemours Co.	2,670,229	98,505
	Valvoline Inc.	2,485,262	93,222
	United States Steel Corp.	3,647,349	91,220
	Mueller Industries Inc.	969,008	84,575
	Huntsman Corp.	3,122,736	84,376
	Element Solutions Inc.	3,888,959	74,668
	Ashland Inc.	850,228	73,893
	Cabot Corp.	1,004,651	67,201
	Avient Corp.	1,629,966	66,666
	Boise Cascade Co.	708,357	64,000
	Sensient Technologies Corp.	755,809	53,761
^*	Arconic Corp.	1,793,499	53,052
	Carpenter Technology Corp.	868,685	48,759
	Scotts Miracle-Gro Co.	752,196	47,155
	Innospec Inc.	444,920	44,688
	Materion Corp.	368,702	42,106
	Worthington Industries Inc.	534,076	37,102
	Stepan Co.	379,691	36,283
	Westlake Corp.	285,447	34,102
	Minerals Technologies Inc.	582,236	33,589
	Hecla Mining Co.	5,207,511	26,819
	Tronox Holdings plc	2,102,973	26,729
^*	Ecovyst Inc.	1,766,492	20,244
	Kaiser Aluminum Corp.	271,551	19,454

		Shares	Market Value• ($000)
	GrafTech International Ltd.	3,444,503	17,360
^*	Coeur Mining Inc.	5,362,257	15,229
	Mativ Holdings Inc.	932,122	14,094
	Schnitzer Steel Industries Inc. Class A	438,855	13,161
	Compass Minerals International Inc.	368,004	12,512
	Koppers Holdings Inc.	354,002	12,071
			2,653,134
Consumer Discretionary (15.8%)
	Aramark	4,664,907	200,824
	Tapestry Inc.	4,149,534	177,600
	Service Corp. International	2,570,541	166,031
^*	Norwegian Cruise Line Holdings Ltd.	7,594,451	165,331
	Hasbro Inc.	2,357,285	152,681
	Lear Corp.	1,056,877	151,715
^*	BJ's Wholesale Club Holdings Inc.	2,405,487	151,570
	Lithia Motors Inc. Class A	492,844	149,879
	Toll Brothers Inc.	1,882,878	148,879
	Bath & Body Works Inc.	3,893,445	146,004
	Whirlpool Corp.	980,604	145,904
	Dick's Sporting Goods Inc.	1,065,573	140,858
	Interpublic Group of Cos. Inc.	3,455,858	133,327
^*	Mattel Inc.	6,337,416	123,833
^*	Alaska Air Group Inc.	2,290,803	121,825
	Polaris Inc.	967,807	117,037
	Williams-Sonoma Inc.	925,072	115,763
^*,1	GameStop Corp. Class A	4,636,853	112,444
^*	Light & Wonder Inc.	1,631,711	112,196
	New York Times Co. Class A	2,788,039	109,793
	Murphy USA Inc.	350,973	109,191
^*	AutoNation Inc.	653,217	107,526
^*	American Airlines Group Inc.	5,842,489	104,814

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Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	PVH Corp.	1,124,038	95,509
^*	Asbury Automotive Group Inc.	385,482	92,678
	Wynn Resorts Ltd.	865,521	91,408
^*	Taylor Morrison Home Corp. Class A	1,855,052	90,471
	Thor Industries Inc.	862,240	89,242
	Meritage Homes Corp.	625,065	88,928
	U-Haul Holding Co. (XNYS)	1,739,653	88,148
	H&R Block Inc.	2,725,732	86,869
	Ralph Lauren Corp. Class A	661,904	81,613
	Harley-Davidson Inc.	2,315,868	81,542
^*	Avis Budget Group Inc.	355,773	81,355
^*	Capri Holdings Ltd.	2,250,002	80,753
	Macy's Inc.	4,873,289	78,216
^*	Coty Inc. Class A	6,103,322	75,010
	Academy Sports & Outdoors Inc.	1,378,613	74,514
^*	Goodyear Tire & Rubber Co.	5,071,762	69,382
	Marriott Vacations Worldwide Corp.	559,784	68,697
	KB Home	1,328,384	68,691
	Leggett & Platt Inc.	2,262,747	67,023
^*	Penn Entertainment Inc.	2,758,020	66,275
	Wendy's Co.	3,016,324	65,605
	TEGNA Inc.	4,026,966	65,398
	Group 1 Automotive Inc.	240,383	62,043
	Penske Automotive Group Inc.	370,358	61,713
	VF Corp.	3,129,933	59,750
^*	Tri Pointe Homes Inc.	1,790,859	58,848
	Newell Brands Inc.	6,667,042	58,003
^*	Lyft Inc. Class A	5,618,107	53,878
	Travel + Leisure Co.	1,296,725	52,310
^*	JetBlue Airways Corp.	5,866,953	51,981
	Nexstar Media Group Inc. Class A	304,704	50,748
	Signet Jewelers Ltd.	767,160	50,065
	MDC Holdings Inc.	1,046,539	48,947
	Carter's Inc.	640,527	46,502
^*	Helen of Troy Ltd.	430,035	46,452
	Kohl's Corp.	1,981,007	45,662
	Rush Enterprises Inc. Class A	749,388	45,518
	Foot Locker Inc.	1,671,393	45,311
^*	Liberty Media Corp.-Liberty SiriusXM Class C	1,363,230	44,618
	Gap Inc.	4,934,646	44,066
	Kontoor Brands Inc.	1,003,252	42,237
	Bloomin' Brands Inc.	1,561,833	41,998
^*	Hertz Global Holdings Inc.	2,255,898	41,486

		Shares	Market Value• ($000)
	Red Rock Resorts Inc. Class A	884,964	41,399
^*,1	AMC Entertainment Holdings Inc. Class A	9,286,208	40,859
	Dana Inc.	2,324,252	39,512
	Advance Auto Parts Inc.	531,471	37,362
	American Eagle Outfitters Inc.	3,148,648	37,154
	Cracker Barrel Old Country Store Inc.	396,253	36,923
	Graham Holdings Co. Class B	64,222	36,702
^*	Urban Outfitters Inc.	1,077,550	35,699
¹	Nordstrom Inc.	1,732,365	35,461
^*	National Vision Holdings Inc.	1,396,816	33,929
	PriceSmart Inc.	443,710	32,861
^*	SkyWest Inc.	794,999	32,372
^*	Cinemark Holdings Inc.	1,957,260	32,295
^*	Abercrombie & Fitch Co. Class A	850,743	32,056
^*	PowerSchool Holdings Inc. Class A	1,614,915	30,909
	Laureate Education Inc.	2,530,698	30,596
^*	OPENLANE Inc.	1,953,820	29,737
	Acushnet Holdings Corp.	542,324	29,654
^*	Knowles Corp.	1,635,116	29,530
^*	ODP Corp.	621,505	29,099
^*	Brinker International Inc.	792,506	29,006
	Cheesecake Factory Inc.	826,829	28,592
	Hanesbrands Inc.	5,940,680	26,971
^*	PROG Holdings Inc.	836,295	26,862
	Strategic Education Inc.	395,866	26,856
	Oxford Industries Inc.	268,100	26,386
^*	Central Garden & Pet Co. Class A	702,838	25,625
^*	Adtalem Global Education Inc.	740,933	25,444
	John Wiley & Sons Inc. Class A	747,000	25,420
	Upbound Group Inc.	800,547	24,921
^*	Under Armour Inc. Class A	3,377,388	24,385
^*	Victoria's Secret & Co.	1,390,943	24,244
^*	Sally Beauty Holdings Inc.	1,924,228	23,764
¹	Dillard's Inc. Class A	70,167	22,894
	HNI Corp.	788,885	22,231
	La-Z-Boy Inc.	771,814	22,105
	Matthews International Corp. Class A	517,679	22,063
^*	Liberty Media Corp.-Liberty SiriusXM Class A	664,407	21,799
^*	Under Armour Inc. Class C	3,167,249	21,252

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Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	Steven Madden Ltd.	611,937	20,004
	MillerKnoll Inc.	1,353,028	19,998
	Wolverine World Wide Inc.	1,350,033	19,832
	Scholastic Corp.	505,477	19,658
	Buckle Inc.	541,618	18,740
^*	Lions Gate Entertainment Corp. Class B	2,215,141	18,496
	Krispy Kreme Inc.	1,203,681	17,730
	Sturm Ruger & Co. Inc.	316,811	16,778
	Spirit Airlines Inc.	976,479	16,756
^*	American Axle & Manufacturing Holdings Inc.	1,988,870	16,448
	Dine Brands Global Inc.	266,222	15,449
^*	Vista Outdoor Inc.	510,647	14,130
^*	Stride Inc.	365,724	13,616
^*	G-III Apparel Group Ltd.	693,316	13,360
	Steelcase Inc. Class A	1,589,783	12,257
	Sonic Automotive Inc. Class A	251,085	11,969
	Levi Strauss & Co. Class A	795,479	11,479
^*	EW Scripps Co. Class A	1,230,117	11,256
	Monro Inc.	266,993	10,848
¹	Guess? Inc.	547,688	10,653
^*	Lions Gate Entertainment Corp. Class A	1,117,428	9,867
^*	GoPro Inc. Class A	2,199,174	9,105
^*	Clear Channel Outdoor Holdings Inc.	6,478,721	8,876
¹	Designer Brands Inc. Class A	876,393	8,852
	U-Haul Holding Co.	155,795	8,619
¹	Sinclair Inc.	562,008	7,767
^*	Udemy Inc.	723,743	7,766
	Caleres Inc.	308,458	7,381
^*	Central Garden & Pet Co.	169,327	6,565
^*	AMC Networks Inc. Class A	544,210	6,503
^*	Petco Health & Wellness Co. Inc. Class A	717,255	6,384
^*	BJ's Restaurants Inc.	200,097	6,363
¹	Cricut Inc. Class A	505,744	6,170
	Rush Enterprises Inc. Class B	90,177	6,137
^*	Cava Group Inc.	149,773	6,133
^*	Sleep Number Corp.	188,563	5,144
	Smith & Wesson Brands Inc.	390,052	5,086
^*	Hawaiian Holdings Inc.	438,125	4,719
	Interface Inc. Class A	493,111	4,334

		Shares	Market Value• ($000)
^*	iHeartMedia Inc. Class A	927,384	3,376
^*	Qurate Retail Inc. Class A	3,156,028	3,124
^*,1	SES AI Corp.	1,095,279	2,672
^*	2U Inc.	341,549	1,376
^*	Vacasa Inc. Class A	586,884	398
^*	Savers Value Village Inc.	15,560	369
^*	Cars.com Inc.	140	3
	Big Lots Inc.	63	1
^*	Children's Place Inc.	28	1
^*	Genesco Inc.	21	1
^*	Zumiez Inc.	35	1
			7,571,967
Consumer Staples (3.4%)
	Bunge Ltd.	2,695,616	254,331
^*	US Foods Holding Corp.	3,998,275	175,924
^*	Performance Food Group Co.	2,795,453	168,398
	Ingredion Inc.	1,122,753	118,956
	Molson Coors Beverage Co. Class B	1,614,249	106,282
	Flowers Foods Inc.	3,032,509	75,449
^*	Sprouts Farmers Market Inc.	1,843,356	67,707
^*	Hostess Brands Inc. Class A	2,377,160	60,190
	Spectrum Brands Holdings Inc.	733,650	57,261
^*	TreeHouse Foods Inc.	1,007,508	50,758
^*	Grocery Outlet Holding Corp.	1,582,308	48,434
	Energizer Holdings Inc.	1,278,802	42,942
^*	Post Holdings Inc.	456,122	39,523
	Edgewell Personal Care Co.	869,763	35,930
	Lancaster Colony Corp.	172,337	34,655
	Vector Group Ltd.	2,372,118	30,387
	Nu Skin Enterprises Inc. Class A	892,737	29,639
	Reynolds Consumer Products Inc.	939,317	26,536
	Andersons Inc.	543,151	25,066
^*	Herbalife Ltd.	1,681,281	22,260
	Universal Corp.	417,351	20,843
^*	United Natural Foods Inc.	1,062,659	20,775
^*	Hain Celestial Group Inc.	1,600,195	20,018
	Weis Markets Inc.	288,736	18,540
	Fresh Del Monte Produce Inc.	687,002	17,663
¹	B&G Foods Inc.	1,227,287	17,084
	Seaboard Corp.	4,153	14,788
^*	Pilgrim's Pride Corp.	635,290	13,652
^*	Duckhorn Portfolio Inc.	721,498	9,358
	ACCO Brands Corp.	1,613,216	8,405

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
^*	USANA Health Sciences Inc.	103,578	6,530
^*,1	BRC Inc. Class A	786,289	4,057
			1,642,341
Energy (4.5%)
	Chesapeake Energy Corp.	2,275,940	190,451
	APA Corp.	5,523,272	188,730
	Ovintiv Inc.	4,376,758	166,623
	Range Resources Corp.	4,103,265	120,636
^*	Southwestern Energy Co.	19,711,161	118,464
	HF Sinclair Corp.	2,581,597	115,165
^*	Antero Resources Corp.	4,835,992	111,373
	Chord Energy Corp.	706,714	108,693
	Murphy Oil Corp.	2,655,290	101,698
	DT Midstream Inc.	1,734,415	85,975
	PBF Energy Inc. Class A	2,031,084	83,153
	Equitrans Midstream Corp.	7,364,042	70,400
	Antero Midstream Corp.	6,007,627	69,688
	Arcosa Inc.	866,697	65,670
	California Resources Corp.	1,262,312	57,170
^*	CNX Resources Corp.	2,814,248	49,868
	Peabody Energy Corp.	2,200,957	47,673
	Permian Resources Corp. Class A	4,217,554	46,224
	Patterson-UTI Energy Inc.	3,540,237	42,377
	Warrior Met Coal Inc.	930,535	36,244
	Arch Resources Inc.	317,505	35,802
	SM Energy Co.	1,078,076	34,100
	Helmerich & Payne Inc.	825,886	29,278
	Delek US Holdings Inc.	1,175,959	28,164
	Archrock Inc.	2,663,553	27,301
	World Kinect Corp.	1,055,962	21,837
^*	NOW Inc.	1,913,827	19,827
	CVR Energy Inc.	539,570	16,166
^*	NexTier Oilfield Solutions Inc.	1,752,610	15,668
^*	ProPetro Holding Corp.	1,752,315	14,439
^*	MRC Global Inc.	1,431,281	14,413
	Core Laboratories Inc.	417,424	9,705
	Vitesse Energy Inc.	386,288	8,653
¹	Crescent Energy Co. Class A	692,157	7,212
^*,1	ProFrac Holding Corp. Class A	426,664	4,762
^*	Transocean Ltd.	1,540	11
^*	NEXTracker Inc. Class A	70	3
^*	Fluence Energy Inc. Class A	91	2

		Shares	Market Value• ($000)
	Atlas Energy Solutions Inc. Class A	42	1
^*	OPAL Fuels Inc. Class A	28	—
			2,163,619
Financials (19.8%)
	First Citizens BancShares Inc. Class A	181,397	232,814
	RenaissanceRe Holdings Ltd.	899,054	167,692
	Reinsurance Group of America Inc.	1,191,001	165,180
	American Financial Group Inc.	1,295,705	153,865
	New York Community Bancorp Inc.	12,927,767	145,308
	Carlyle Group Inc.	4,538,390	145,002
	Unum Group	2,998,262	143,017
	Brown & Brown Inc.	2,030,504	139,780
	Invesco Ltd.	8,204,421	137,916
	East West Bancorp Inc.	2,533,376	133,737
	Ally Financial Inc.	4,847,845	130,940
	Primerica Inc.	653,468	129,230
	SEI Investments Co.	2,146,874	127,997
	Voya Financial Inc.	1,759,865	126,200
	Assurant Inc.	951,483	119,620
	Old Republic International Corp.	4,716,248	118,708
	Webster Financial Corp.	3,129,594	118,142
	Cullen/Frost Bankers Inc.	1,037,785	111,593
	First Horizon Corp.	9,628,047	108,508
	AGNC Investment Corp.	10,666,877	108,056
	Stifel Financial Corp.	1,805,189	107,716
	RLI Corp.	771,604	105,301
	Selective Insurance Group Inc.	1,082,901	103,904
¹	Starwood Property Trust Inc.	5,308,937	102,993
	First American Financial Corp.	1,755,728	100,112
	Comerica Inc.	2,357,407	99,860
	Commerce Bancshares Inc.	2,009,205	97,848
	Jefferies Financial Group Inc.	2,924,677	97,012
	Affiliated Managers Group Inc.	646,068	96,839
	OneMain Holdings Inc.	2,159,290	94,339
	Prosperity Bancshares Inc.	1,605,822	90,697
	SouthState Corp.	1,361,318	89,575
	Annaly Capital Management Inc.	4,422,274	88,490
	Equitable Holdings Inc.	3,187,682	86,577
	Essent Group Ltd.	1,824,241	85,375
	Globe Life Inc.	768,764	84,272

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	MGIC Investment Corp.	5,129,893	81,001
	Rithm Capital Corp.	8,648,472	80,863
	Bank OZK	1,992,342	80,012
	Wintrust Financial Corp.	1,095,284	79,540
	Home BancShares Inc.	3,448,121	78,617
	Lincoln National Corp.	3,035,421	78,192
	Popular Inc.	1,288,019	77,951
	Evercore Inc. Class A	617,569	76,325
	Columbia Banking System Inc.	3,731,622	75,677
	Synovus Financial Corp.	2,484,342	75,151
	FNB Corp.	6,461,086	73,915
	Axis Capital Holdings Ltd.	1,372,434	73,878
	Old National Bancorp	5,236,211	72,993
	United Bankshares Inc.	2,414,937	71,651
	Zions Bancorp NA	2,650,378	71,189
	SLM Corp.	4,338,345	70,802
	Radian Group Inc.	2,797,724	70,726
	First Financial Bankshares Inc.	2,426,751	69,138
	American Equity Investment Life Holding Co.	1,324,722	69,031
	Western Alliance Bancorp	1,861,630	67,894
	Hanover Insurance Group Inc.	575,463	65,045
	Janus Henderson Group plc	2,370,900	64,607
	Cadence Bank	3,269,771	64,218
	Glacier Bancorp Inc.	1,984,015	61,842
	Lazard Ltd. Class A	1,916,771	61,337
¹	Blackstone Mortgage Trust Inc. Class A	2,929,587	60,965
	FirstCash Holdings Inc.	650,779	60,737
	White Mountains Insurance Group Ltd.	43,568	60,512
	Valley National Bancorp	7,723,843	59,860
^*	Brighthouse Financial Inc.	1,196,205	56,640
	Assured Guaranty Ltd.	1,008,892	56,296
	Hancock Whitney Corp.	1,463,078	56,153
^*	Enstar Group Ltd.	229,438	56,038
^*	Mr Cooper Group Inc.	1,095,803	55,491
	Kemper Corp.	1,145,061	55,261
	Federated Hermes Inc. Class B	1,521,333	54,540
¹	Moelis & Co. Class A	1,190,680	53,985
	United Community Banks Inc.	1,957,351	48,914
	Artisan Partners Asset Management Inc. Class A	1,224,586	48,139
	CNO Financial Group Inc.	1,946,782	46,080

		Shares	Market Value• ($000)
	Jackson Financial Inc. Class A	1,475,806	45,174
	Community Bank System Inc.	961,148	45,059
	Walker & Dunlop Inc.	566,657	44,817
	Houlihan Lokey Inc. Class A	452,990	44,533
	International Bancshares Corp.	1,000,010	44,200
^*	Texas Capital Bancshares Inc.	856,365	44,103
¹	Arbor Realty Trust Inc.	2,917,226	43,233
^*	Genworth Financial Inc. Class A	8,549,982	42,750
	UMB Financial Corp.	694,091	42,270
	Associated Banc-Corp	2,564,323	41,619
	WSFS Financial Corp.	1,099,145	41,460
	First Hawaiian Inc.	2,282,535	41,108
	Ameris Bancorp	1,178,990	40,333
	Cathay General Bancorp	1,237,251	39,827
^*	Axos Financial Inc.	1,004,508	39,618
	First Bancorp	3,216,343	39,304
	Piper Sandler Cos.	301,510	38,973
	Simmons First National Corp. Class A	2,163,981	37,329
	Pinnacle Financial Partners Inc.	652,012	36,937
	First Interstate BancSystem Inc. Class A	1,493,593	35,607
	Pacific Premier Bancorp Inc.	1,720,900	35,588
	Fulton Financial Corp.	2,960,524	35,289
	Eastern Bankshares Inc.	2,838,655	34,830
	Atlantic Union Bankshares Corp.	1,341,634	34,815
	BOK Financial Corp.	416,952	33,681
	Independent Bank Corp.	749,857	33,376
	First Financial Bancorp	1,617,213	33,056
	TPG Inc. Class A	1,098,742	32,149
	CVB Financial Corp.	2,367,143	31,436
	PennyMac Financial Services Inc.	446,586	31,399
	Washington Federal Inc.	1,177,066	31,216
	First Merchants Corp.	1,067,640	30,140
	BancFirst Corp.	323,736	29,784
	Navient Corp.	1,583,593	29,423
	Bank of Hawaii Corp.	709,346	29,246
	BankUnited Inc.	1,331,178	28,687
	Apollo Commercial Real Estate Finance Inc.	2,528,768	28,626
	Virtu Financial Inc. Class A	1,621,538	27,712
	Towne Bank	1,172,622	27,252
	BGC Partners Inc. Class A	6,055,708	26,827
	Banner Corp.	614,265	26,825

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	Park National Corp.	260,497	26,654
^*	Cannae Holdings Inc.	1,300,026	26,274
	WesBanco Inc.	1,006,965	25,788
	Hilltop Holdings Inc.	814,323	25,619
	Renasant Corp.	953,367	24,912
	Two Harbors Investment Corp.	1,764,576	24,492
	Virtus Investment Partners Inc.	123,874	24,461
	Northwest Bancshares Inc.	2,273,248	24,096
	Chimera Investment Corp.	4,153,738	23,967
	Claros Mortgage Trust Inc.	2,104,314	23,863
	Compass Diversified Holdings	1,094,109	23,731
	NBT Bancorp Inc.	729,207	23,225
	City Holding Co.	256,132	23,049
	Nelnet Inc. Class A	238,138	22,976
	Ladder Capital Corp. Class A	2,044,147	22,179
	OFG Bancorp	850,308	22,176
	First Commonwealth Financial Corp.	1,748,752	22,122
	Independent Bank Group Inc.	627,705	21,675
	Horace Mann Educators Corp.	730,721	21,673
	PennyMac Mortgage Investment Trust	1,566,460	21,116
	Provident Financial Services Inc.	1,284,239	20,985
	Franklin BSP Realty Trust Inc.	1,472,079	20,845
	Trustmark Corp.	983,307	20,767
	MFA Financial Inc.	1,823,292	20,494
	National Bank Holdings Corp. Class A	674,663	19,592
^*	Encore Capital Group Inc.	399,102	19,404
¹	ARMOUR Residential REIT Inc.	3,497,840	18,644
	Argo Group International Holdings Ltd.	629,190	18,630
	Westamerica Bancorp	477,137	18,274
	Safety Insurance Group Inc.	252,654	18,120
	S&T Bancorp Inc.	662,294	18,008
	Employers Holdings Inc.	480,856	17,989
	ServisFirst Bancshares Inc.	436,903	17,878
^*	LendingClub Corp.	1,826,525	17,809
	PacWest Bancorp	2,111,735	17,211
	Hope Bancorp Inc.	2,038,228	17,162
	BrightSpire Capital Inc. Class A	2,324,784	15,646

		Shares	Market Value• ($000)
	Berkshire Hills Bancorp Inc.	752,535	15,600
	WisdomTree Inc.	2,269,886	15,571
^*	PRA Group Inc.	665,732	15,212
	Mercury General Corp.	495,309	14,993
^*	Avantax Inc.	655,862	14,678
	ProAssurance Corp.	966,580	14,586
	Enact Holdings Inc.	578,170	14,529
	Capitol Federal Financial Inc.	2,314,170	14,278
	National Western Life Group Inc. Class A	33,810	14,050
	Brookline Bancorp Inc.	1,506,954	13,171
^*	SiriusPoint Ltd.	1,457,699	13,163
	Redwood Trust Inc.	2,040,019	12,995
	StepStone Group Inc. Class A	477,163	11,838
	Tompkins Financial Corp.	207,801	11,575
	Eagle Bancorp Inc.	522,059	11,047
^*	Ambac Financial Group Inc.	770,345	10,970
	KKR Real Estate Finance Trust Inc.	865,312	10,531
	Victory Capital Holdings Inc. Class A	329,074	10,379
	United Fire Group Inc.	428,932	9,720
	Heartland Financial USA Inc.	323,597	9,019
¹	UWM Holdings Corp. Class A	1,582,338	8,861
	Northfield Bancorp Inc.	749,246	8,227
^*	World Acceptance Corp.	61,287	8,213
	TPG RE Finance Trust Inc.	1,107,970	8,210
^*	Columbia Financial Inc.	473,304	8,183
	Kearny Financial Corp.	1,064,054	7,502
^*	AssetMark Financial Holdings Inc.	198,390	5,884
¹	GCM Grosvenor Inc. Class A	711,675	5,366
¹	Invesco Mortgage Capital Inc.	372,627	4,274
	Central Pacific Financial Corp.	229,554	3,606
^*	loanDepot Inc. Class A	1,030,270	2,184
	Associated Capital Group Inc. Class A	28,772	1,019
^*	Bakkt Holdings Inc.	126	—
^*	Hagerty Inc. Class A	42	—
			9,535,972
Health Care (6.2%)
^*	United Therapeutics Corp.	838,757	185,156
	Universal Health Services Inc. Class B	1,070,077	168,826
	DENTSPLY SIRONA Inc.	3,803,918	152,233

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
^*	Tenet Healthcare Corp.	1,824,778	148,500
^*	Jazz Pharmaceuticals plc	1,088,764	134,974
^*	Acadia Healthcare Co. Inc.	1,565,373	124,666
^*	Karuna Therapeutics Inc.	569,886	123,580
	Encompass Health Corp.	1,704,847	115,435
^*	Envista Holdings Corp.	2,930,808	99,179
^*	IVERIC bio Inc.	2,466,533	97,033
	Organon & Co.	4,566,359	95,026
^*	DaVita Inc.	892,979	89,718
^*	Elanco Animal Health Inc.	8,819,267	88,722
	Perrigo Co. plc	2,422,630	82,248
^*	Syneos Health Inc.	1,854,791	78,161
^*	Catalent Inc.	1,531,052	66,386
^*	Madrigal Pharmaceuticals Inc.	261,725	60,458
	Premier Inc. Class A	2,131,348	58,953
	Select Medical Holdings Corp.	1,819,774	57,978
^*	Enovis Corp.	877,632	56,274
^*	Azenta Inc.	1,165,895	54,424
^*	Pacific Biosciences of California Inc.	4,023,127	53,508
^*	Amedisys Inc.	582,935	53,304
^*	Prestige Consumer Healthcare Inc.	888,995	52,833
^*	Integer Holdings Corp.	595,348	52,754
	Patterson Cos. Inc.	1,574,156	52,356
^*	Reata Pharmaceuticals Inc. Class A	502,282	51,213
^*,1	Axsome Therapeutics Inc.	666,782	47,915
^*	Myriad Genetics Inc.	1,386,113	32,130
^*	Bridgebio Pharma Inc.	1,709,949	29,411
^*	Integra LifeSciences Holdings Corp.	622,607	25,608
^*	Iovance Biotherapeutics Inc.	3,612,752	25,434
^*	Owens & Minor Inc.	1,295,205	24,661
^*	Krystal Biotech Inc.	196,028	23,014
	Embecta Corp.	1,025,019	22,140
^*	Avanos Medical Inc.	834,901	21,340
^*	Pediatrix Medical Group Inc.	1,498,487	21,293
^*	Ligand Pharmaceuticals Inc.	293,560	21,166
	Healthcare Services Group Inc.	1,327,397	19,818
^*	Immunovant Inc.	933,233	17,703
^*	Varex Imaging Corp.	722,785	17,036
^*	NextGen Healthcare Inc.	944,344	15,317
^*,1	Multiplan Corp.	7,007,572	14,786

		Shares	Market Value• ($000)
	National HealthCare Corp.	233,517	14,436
^*	Agios Pharmaceuticals Inc.	497,177	14,080
^*	Supernus Pharmaceuticals Inc.	462,928	13,916
^*	Brookdale Senior Living Inc.	3,198,902	13,499
^*	Innoviva Inc.	1,054,580	13,425
^*	Nuvalent Inc. Class A	252,812	10,661
^*	Enhabit Inc.	896,312	10,308
^*,1	23andMe Holding Co. Class A	4,907,386	8,588
^*	Kiniksa Pharmaceuticals Ltd. Class A	563,076	7,928
^*	Amneal Pharmaceuticals Inc.	2,468,872	7,654
^*	OPKO Health Inc.	3,455,783	7,499
^*	Day One Biopharmaceuticals Inc.	532,919	6,363
^*	ACELYRIN Inc.	304,301	6,360
	Phibro Animal Health Corp. Class A	363,795	4,984
^*,1	ProKidney Corp. Class A	303,053	3,391
^*	Emergent BioSolutions Inc.	406,216	2,986
^*	Mirati Therapeutics Inc.	119	4
^*	NGM Biopharmaceuticals Inc.	98	—
^*,1,2	Synergy Pharmaceuticals LLC	1,169,882	—
^*	Allovir Inc.	77	—
^*,2	OmniAb Inc. 12.5 Earnout	53,581	—
^*,2	OmniAb Inc. 15 Earnout	53,581	—
			2,978,752
Industrials (24.0%)
^*	Builders FirstSource Inc.	2,293,733	311,948
	IDEX Corp.	1,352,768	291,197
	Booz Allen Hamilton Holding Corp. Class A	2,367,411	264,203
	Carlisle Cos. Inc.	912,149	233,993
	AECOM	2,487,863	210,697
	Owens Corning	1,612,585	210,442
	RPM International Inc.	2,307,345	207,038
	Lincoln Electric Holdings Inc.	1,030,526	204,693
	Pentair plc	2,953,066	190,768
	Allegion plc	1,573,940	188,904
	Regal Rexnord Corp.	1,186,430	182,592
	Howmet Aerospace Inc.	3,516,352	174,270
	WESCO International Inc.	917,934	164,365
	Fortune Brands Innovations Inc.	2,268,301	163,204

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	Huntington Ingalls Industries Inc.	714,337	162,583
	Hubbell Inc. Class B	479,499	158,983
	EMCOR Group Inc.	851,142	157,274
	Tetra Tech Inc.	952,908	156,029
	nVent Electric plc	2,965,573	153,231
	Knight-Swift Transportation Holdings Inc. Class A	2,739,427	152,203
	AGCO Corp.	1,139,060	149,695
	Robert Half International Inc.	1,833,026	137,880
	ITT Inc.	1,475,847	137,564
	AptarGroup Inc.	1,172,911	135,893
	Donaldson Co. Inc.	2,171,284	135,727
	Graphic Packaging Holding Co.	5,497,441	132,103
	Berry Global Group Inc.	2,027,133	130,426
^*	Axalta Coating Systems Ltd.	3,966,290	130,134
	MKS Instruments Inc.	1,195,544	129,238
	Sensata Technologies Holding plc	2,737,261	123,149
^*	XPO Inc.	1,970,551	116,262
	MSA Safety Inc.	667,940	116,195
^*	FTI Consulting Inc.	608,225	115,684
	Brunswick Corp.	1,266,163	109,700
^*	Atkore Inc.	690,286	107,643
	Valmont Industries Inc.	358,151	104,240
	Sonoco Products Co.	1,753,540	103,494
	Sealed Air Corp.	2,585,046	103,402
	Oshkosh Corp.	1,169,439	101,262
	Applied Industrial Technologies Inc.	692,082	100,234
^*	Mohawk Industries Inc.	969,228	99,986
	Acuity Brands Inc.	569,239	92,831
	Allison Transmission Holdings Inc.	1,629,623	92,008
^*	API Group Corp.	3,368,719	91,831
	Watts Water Technologies Inc. Class A	490,642	90,146
	Vontier Corp.	2,785,687	89,727
	Flowserve Corp.	2,347,744	87,219
	Louisiana-Pacific Corp.	1,160,246	86,995
^*	Kirby Corp.	1,073,548	82,610
	Triton International Ltd.	985,192	82,027
	GATX Corp.	631,890	81,350
^*	Summit Materials Inc. Class A	2,125,879	80,465
	EnerSys	732,214	79,460
	Air Lease Corp. Class A	1,887,803	79,005
	Western Union Co.	6,701,514	78,609
	Crane Co.	862,761	76,889
	MSC Industrial Direct Co. Inc. Class A	803,336	76,542

		Shares	Market Value• ($000)
	MDU Resources Group Inc.	3,643,329	76,291
^*	Fluor Corp.	2,563,574	75,882
	Belden Inc.	761,495	72,837
	ManpowerGroup Inc.	902,564	71,664
^*	Beacon Roofing Supply Inc.	855,693	71,005
^*	Middleby Corp.	478,728	70,770
	Silgan Holdings Inc.	1,479,324	69,365
	Terex Corp.	1,152,443	68,951
	HB Fuller Co.	962,707	68,843
	Esab Corp.	1,023,740	68,120
	Zurn Elkay Water Solutions Corp.	2,498,599	67,187
	Ryder System Inc.	790,206	67,002
	Westrock Co.	2,292,563	66,645
^*	MasTec Inc.	564,530	66,598
^*	SPX Technologies Inc.	773,513	65,725
	Woodward Inc.	537,118	63,869
^*	ASGN Inc.	838,361	63,405
^*	O-I Glass Inc.	2,777,965	59,254
	Otter Tail Corp.	746,256	58,924
^*	Alight Inc. Class A	6,227,339	57,541
	Hillenbrand Inc.	1,120,263	57,447
	Moog Inc. Class A	513,906	55,723
	Encore Wire Corp.	298,589	55,517
	Spirit AeroSystems Holdings Inc. Class A	1,882,154	54,940
	Brink's Co.	789,304	53,538
	Comfort Systems USA Inc.	319,975	52,540
	Albany International Corp. Class A	559,835	52,221
^*,1	Joby Aviation Inc.	5,077,069	52,091
^*	GMS Inc.	739,022	51,140
	ABM Industries Inc.	1,182,758	50,445
	EnPro Industries Inc.	373,531	49,878
	Crane NXT Co.	862,682	48,690
	ESCO Technologies Inc.	460,847	47,758
^*	RXO Inc.	2,091,885	47,423
	Matson Inc.	609,421	47,370
	Korn Ferry	937,666	46,452
	Werner Enterprises Inc.	1,020,492	45,085
^*	Hub Group Inc. Class A	557,001	44,738
^*	Resideo Technologies Inc.	2,500,621	44,161
	EVERTEC Inc.	1,164,450	42,887
	UniFirst Corp.	270,264	41,894
	Kennametal Inc.	1,436,162	40,773
	McGrath RentCorp	437,822	40,490
	ArcBest Corp.	407,086	40,220
^*	Knife River Corp.	910,837	39,621
	ADT Inc.	6,202,972	37,404
	Trinity Industries Inc.	1,451,931	37,329
	Brady Corp. Class A	780,352	37,121
	Barnes Group Inc.	860,228	36,293

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	Griffon Corp.	870,145	35,067
^*	AAR Corp.	589,973	34,077
^*	OSI Systems Inc.	269,334	31,736
	Granite Construction Inc.	785,137	31,233
^*	Gates Industrial Corp. plc	2,294,760	30,933
	Greif Inc. Class A	443,160	30,529
	Standex International Corp.	212,964	30,128
^*	Hillman Solutions Corp.	3,307,461	29,800
	Primoris Services Corp.	953,275	29,046
^*	Dycom Industries Inc.	249,463	28,351
^*,1	Rocket Lab USA Inc.	4,709,923	28,260
	Bread Financial Holdings Inc.	896,684	28,147
^*	AvidXchange Holdings Inc.	2,700,260	28,029
^*	Mirion Technologies Inc. Class A	3,313,737	28,001
^*	Huron Consulting Group Inc.	326,540	27,726
^*	JELD-WEN Holding Inc.	1,444,189	25,331
	H&E Equipment Services Inc.	553,267	25,312
	Greenbrier Cos. Inc.	542,570	23,385
	Wabash National Corp.	849,446	21,780
	Kforce Inc.	345,722	21,663
	TriMas Corp.	742,399	20,409
^*,1	Aurora Innovation Inc.	6,898,523	20,282
	Schneider National Inc. Class B	682,680	19,607
	Apogee Enterprises Inc.	398,440	18,914
	Astec Industries Inc.	406,397	18,467
	AZZ Inc.	423,412	18,401
^*	CoreCivic Inc.	1,931,737	18,178
^*	Proto Labs Inc.	468,777	16,388
	Quanex Building Products Corp.	594,660	15,967
^*	Thermon Group Holdings Inc.	599,410	15,944
^*	Green Dot Corp. Class A	791,359	14,830
	International Seaways Inc.	374,335	14,315
^*	First Advantage Corp.	915,841	14,113
	Heartland Express Inc.	847,922	13,914
	Enerpac Tool Group Corp. Class A	511,500	13,810
	Deluxe Corp.	777,530	13,591
	Kaman Corp.	504,075	12,264
^*	Air Transport Services Group Inc.	608,116	11,475
	TTEC Holdings Inc.	338,147	11,443
^*	American Woodmark Corp.	148,809	11,365
^*	Conduent Inc.	3,126,390	10,630
	Pitney Bowes Inc.	2,984,905	10,567

		Shares	Market Value• ($000)
	Kelly Services Inc. Class A	556,724	9,804
^*	ZipRecruiter Inc. Class A	533,011	9,466
^*,1	Symbotic Inc. Class A	219,842	9,411
	Hyster-Yale Materials Handling Inc.	167,510	9,354
^*	TrueBlue Inc.	527,284	9,338
	REV Group Inc.	531,846	7,052
	National Presto Industries Inc.	94,958	6,951
^*	Triumph Group Inc.	556,161	6,880
	Gorman-Rupp Co.	199,048	5,739
^*	BrightView Holdings Inc.	752,731	5,405
	Pactiv Evergreen Inc.	637,884	4,829
	Greif Inc. Class B	55,713	4,304
	Kronos Worldwide Inc.	411,671	3,594
^*	Advantage Solutions Inc.	1,449,768	3,392
^*	Forrester Research Inc.	103,017	2,997
^*,1	Atmus Filtration Technologies Inc.	111,770	2,454
^*,1	Proterra Inc.	1,725,452	2,071
^*,1	Microvast Holdings Inc.	692,086	1,107
^*,1	MSP Recovery Inc.	1,112,905	365
^*	Leonardo DRS Inc.	112	2
			11,515,232
Real Estate (8.9%)
	Kimco Realty Corp.	11,100,648	218,905
	Gaming & Leisure Properties Inc.	4,459,871	216,125
	Life Storage Inc.	1,523,066	202,507
	Federal Realty Investment Trust	1,459,792	141,264
	NNN REIT Inc.	3,259,140	139,459
	EastGroup Properties Inc.	795,322	138,068
^*	Jones Lang LaSalle Inc.	855,437	133,277
	Omega Healthcare Investors Inc.	4,195,676	128,765
	First Industrial Realty Trust Inc.	2,368,226	124,663
	Brixmor Property Group Inc.	5,382,266	118,410
	STAG Industrial Inc.	3,211,865	115,242
	Agree Realty Corp.	1,668,586	109,109
¹	Medical Properties Trust Inc.	10,712,365	99,197
	Apartment Income REIT Corp. Class A	2,669,756	96,352
	Regency Centers Corp.	1,530,363	94,531
	Rayonier Inc.	2,653,561	83,322
	Lamar Advertising Co. Class A	782,775	77,690
	PotlatchDeltic Corp.	1,430,554	75,605
	Boston Properties Inc.	1,263,460	72,763
	EPR Properties	1,347,224	63,050

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	Cousins Properties Inc.	2,715,207	61,907
	Physicians Realty Trust	4,266,862	59,693
	Vornado Realty Trust	3,090,036	56,053
	Apple Hospitality REIT Inc.	3,687,762	55,722
	Broadstone Net Lease Inc.	3,350,151	51,726
	LXP Industrial Trust	5,234,601	51,037
	Sabra Health Care REIT Inc.	4,136,142	48,682
	Corporate Office Properties Trust	2,012,992	47,809
	Park Hotels & Resorts Inc.	3,664,181	46,975
^*	Howard Hughes Corp.	581,262	45,873
	Highwoods Properties Inc.	1,886,704	45,111
	Macerich Co.	3,847,888	43,366
	DigitalBridge Group Inc.	2,895,711	42,596
	SITE Centers Corp.	3,182,022	42,066
	Outfront Media Inc.	2,656,326	41,757
	Tanger Factory Outlet Centers Inc.	1,787,621	39,453
	National Health Investors Inc.	737,403	38,655
	Equity Commonwealth	1,864,384	37,772
	Sunstone Hotel Investors Inc.	3,704,701	37,492
	Douglas Emmett Inc.	2,886,188	36,279
¹	Phillips Edison & Co. Inc.	1,049,200	35,757
¹	CareTrust REIT Inc.	1,779,543	35,342
	Kennedy-Wilson Holdings Inc.	2,119,395	34,610
¹	SL Green Realty Corp.	1,151,701	34,609
	Kilroy Realty Corp.	1,047,599	31,522
	Urban Edge Properties	1,998,202	30,832
	Pebblebrook Hotel Trust	2,202,609	30,704
	JBG SMITH Properties	1,993,449	29,981
	Retail Opportunity Investments Corp.	2,141,965	28,938
	DiamondRock Hospitality Co.	3,565,690	28,561
	Getty Realty Corp.	796,948	26,953
	InvenTrust Properties Corp.	1,147,405	26,551
	Elme Communities	1,569,429	25,801
	Service Properties Trust	2,959,966	25,722
	Acadia Realty Trust	1,703,426	24,512
	LTC Properties Inc.	740,625	24,455
	Alexander & Baldwin Inc.	1,298,780	24,131
	Xenia Hotels & Resorts Inc.	1,958,818	24,113
	Hannon Armstrong Sustainable Infrastructure Capital Inc.	937,792	23,445

		Shares	Market Value• ($000)
^*	Cushman & Wakefield plc	2,843,589	23,261
^*	Veris Residential Inc.	1,394,276	22,378
	Apartment Investment & Management Co. Class A	2,525,985	21,521
^*	Compass Inc. Class A	5,774,973	20,212
	Uniti Group Inc.	4,267,856	19,718
	Global Net Lease Inc.	1,857,891	19,099
¹	Empire State Realty Trust Inc. Class A	2,281,591	17,089
	Centerspace	267,657	16,423
	Necessity Retail REIT Inc. Class A	2,400,749	16,229
	RPT Realty	1,550,908	16,207
	Piedmont Office Realty Trust Inc. Class A	2,212,040	16,082
	American Assets Trust Inc.	814,710	15,642
	Newmark Group Inc. Class A	2,467,009	15,345
^*	GEO Group Inc.	2,141,928	15,336
	Brandywine Realty Trust	3,075,624	14,302
^*	Anywhere Real Estate Inc.	1,875,405	12,528
	Hudson Pacific Properties Inc.	2,520,695	10,637
	Saul Centers Inc.	235,452	8,672
^*	Forestar Group Inc.	312,455	7,046
	Marcus & Millichap Inc.	206,461	6,506
	RMR Group Inc. Class A	265,480	6,151
	Bridge Investment Group Holdings Inc. Class A	526,425	5,975
	Summit Hotel Properties Inc.	913,300	5,946
	Urstadt Biddle Properties Inc. Class A	267,688	5,691
	Alexander's Inc.	18,277	3,360
	Office Properties Income Trust	434,511	3,346
^*,1	WeWork Inc. Class A	4,717,194	1,205
	Urstadt Biddle Properties Inc.	4,911	103
^*	Seritage Growth Properties Class A	84	1
^*,2	Spirit MTA REIT	334,911	—
^*	Star Holdings	28	—
			4,270,878
Technology (6.2%)
	Jabil Inc.	2,256,359	243,529
^*	F5 Inc.	1,082,703	158,356
	KBR Inc.	2,429,336	158,053
^*	Arrow Electronics Inc.	1,011,489	144,876
^*	CACI International Inc. Class A	408,027	139,072

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	Science Applications International Corp.	966,631	108,727
	Leidos Holdings Inc.	1,227,764	108,633
^*	DXC Technology Co.	3,782,701	101,074
^*	Super Micro Computer Inc.	399,137	99,485
^*	Teradata Corp.	1,809,819	96,662
^*	Insight Enterprises Inc.	595,263	87,111
^*	IAC Inc.	1,361,813	85,522
	Avnet Inc.	1,635,861	82,529
^*	Cirrus Logic Inc.	980,616	79,440
	TD SYNNEX Corp.	844,407	79,374
^*	Black Knight Inc.	1,260,784	75,307
	Vishay Intertechnology Inc.	2,282,816	67,115
	Concentrix Corp.	791,846	63,942
^*	Rambus Inc.	973,770	62,487
^*	Synaptics Inc.	707,006	60,364
^*	NCR Corp.	2,386,216	60,133
^*	Sanmina Corp.	988,674	59,587
^*	Ziff Davis Inc.	803,686	56,306
	Dun & Bradstreet Holdings Inc.	4,716,073	54,565
^*	Kyndryl Holdings Inc.	4,070,122	54,051
	Amkor Technology Inc.	1,757,699	52,291
^*	Plexus Corp.	494,640	48,593
^*	Verint Systems Inc.	1,322,488	46,366
	Progress Software Corp.	774,633	45,006
^*	CCC Intelligent Solutions Holdings Inc.	3,371,777	37,798
^*	NetScout Systems Inc.	1,211,055	37,482
^*	Parsons Corp.	750,423	36,125
^*	Blackbaud Inc.	481,817	34,296
	Xerox Holdings Corp.	1,939,259	28,876
	CSG Systems International Inc.	538,481	28,399
^*	TTM Technologies Inc.	1,835,283	25,510
^*	Veradigm Inc.	1,856,990	23,398
	Methode Electronics Inc.	611,621	20,501
^*	Cerence Inc.	685,092	20,025
	Adeia Inc.	1,807,310	19,898
^*	E2open Parent Holdings Inc.	3,516,181	19,691
	Benchmark Electronics Inc.	605,461	15,639
^*	ScanSource Inc.	445,487	13,169
^*	Informatica Inc. Class A	649,996	12,025
	Ebix Inc.	442,274	11,145
^*	SolarWinds Corp.	878,554	9,014
^*	N-able Inc.	569,930	8,213
^*	Couchbase Inc.	493,836	7,812
^*,1	Rumble Inc.	598,186	5,336
^*	Expensify Inc. Class A	306,488	2,446
^*	Rackspace Technology Inc.	481,016	1,308

		Shares	Market Value• ($000)
^*	AvePoint Inc.	308	2
^*	Nextdoor Holdings Inc.	238	1
			2,996,665
Telecommunications (0.8%)
	Juniper Networks Inc.	2,876,888	90,133
^*	Frontier Communications Parent Inc.	4,391,383	81,855
^*	Viavi Solutions Inc.	3,980,089	45,094
	Lumen Technologies Inc.	17,957,090	40,583
^*,1	DISH Network Corp. Class A	4,472,947	29,477
	InterDigital Inc.	239,221	23,097
^*	CommScope Holding Co. Inc.	3,565,570	20,074
	Telephone & Data Systems Inc.	1,786,799	14,705
^*	Altice USA Inc. Class A	3,869,224	11,685
^*	EchoStar Corp. Class A	613,388	10,636
^*	Xperi Inc.	722,376	9,499
	Shenandoah Telecommunications Co.	427,102	8,299
^*	United States Cellular Corp.	231,288	4,078
^*	WideOpenWest Inc.	455,419	3,844
^*	NETGEAR Inc.	246,987	3,497
^*	fuboTV Inc.	203	1
			396,557
Utilities (4.7%)
	Atmos Energy Corp.	2,398,350	279,024
	Essential Utilities Inc.	4,258,077	169,940
	Pinnacle West Capital Corp.	2,026,852	165,107
	NRG Energy Inc.	4,122,051	154,124
	OGE Energy Corp.	3,585,767	128,765
	UGI Corp.	3,748,473	101,096
	IDACORP Inc.	905,819	92,937
	National Fuel Gas Co.	1,643,339	84,402
	New Jersey Resources Corp.	1,735,446	81,913
	Portland General Electric Co.	1,729,154	80,976
	Southwest Gas Holdings Inc.	1,212,940	77,204
^*	Stericycle Inc.	1,655,072	76,862
	ONE Gas Inc.	991,445	76,153
	Black Hills Corp.	1,192,710	71,873
	Hawaiian Electric Industries Inc.	1,960,863	70,983
	PNM Resources Inc.	1,535,160	69,236
	NorthWestern Corp.	1,069,346	60,696
	ALLETE Inc.	1,025,444	59,445
	American States Water Co.	662,104	57,603
	Spire Inc.	894,225	56,730

Table of Contents

Small-Cap Value Index Fund

		Shares	Market Value• ($000)
	Avista Corp.	1,355,469	53,229
	MGE Energy Inc.	647,159	51,197
	Clearway Energy Inc. Class C	1,475,571	42,142
	Northwest Natural Holding Co.	627,950	27,033
	California Water Service Group	500,856	25,859
	Clearway Energy Inc. Class A	617,547	16,674
^*	Enviri Corp.	1,426,561	14,080
	Excelerate Energy Inc. Class A	328,789	6,684
^*,1	NuScale Power Corp.	472,545	3,213
			2,255,180
Total Common Stocks (Cost $40,135,876)			47,980,297
Temporary Cash Investments (1.3%)
Money Market Fund (1.3%)
^3,4	Vanguard Market Liquidity Fund, 5.150% (Cost $645,188)	6,453,605	645,231
Total Investments (101.1%) (Cost $40,781,064)			48,625,528
Other Assets and Liabilities—Net (-1.1%)			(541,628)
Net Assets (100%)			48,083,900

Cost is in $000.

•	See Note A in Notes to Financial Statements.

*	Non-income-producing security.
1	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $583,708,000.
2	Security value determined using significant unobservable inputs.
3	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
4	Collateral of $620,707,000 was received for securities on loan.

REIT—Real Estate Investment Trust.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
			($000)
	Expiration	Number of Long (Short) Contracts	Notional Amount	Value and Unrealized Appreciation (Depreciation)
Long Futures Contracts
E-mini Russell 2000 Index	September 2023	501	47,688	182

Table of Contents

Small-Cap Value Index Fund

Over-the-Counter Total Return Swaps
Reference Entity	Termination Date	Counterparty	Notional Amount ($000)	Floating Interest Rate Received (Paid)¹ (%)	Value and Unrealized Appreciation ($000)	Value and Unrealized (Depreciation) ($000)
Atmos Energy Corp.	1/31/24	CITNA	21,673	(5.073)	250	—
Bridgebio Pharma Inc.	8/31/23	BANA	4,116	(5.073)	1,027	—
Williams-Sonoma Inc.	1/31/24	CITNA	25,540	(5.073)	2,512	—
					3,789	—

1	Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly.
	BANA—Bank of America, N.A.
	CITNA—Citibank, N.A.

At June 30, 2023, the counterparties had deposited in segregated accounts securities with a value of $3,595,000 in connection with open over-the-counter swap contracts.

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Value Index Fund

Statement of Assets and Liabilities

As of June 30, 2023


($000s, except shares, footnotes, and per-share amounts)	Amount
Assets
Investments in Securities, at Value¹
Unaffiliated Issuers (Cost $40,135,876)	47,980,297
Affiliated Issuers (Cost $645,188)	645,231
Total Investments in Securities	48,625,528
Investment in Vanguard	1,565
Cash Collateral Pledged—Futures Contracts	2,740
Receivables for Investment Securities Sold	6,950
Receivables for Accrued Income	69,512
Receivables for Capital Shares Issued	20,264
Variation Margin Receivable—Futures Contracts	125
Unrealized Appreciation—Over-the-Counter Swap Contracts	3,789
Total Assets	48,730,473
Liabilities
Due to Custodian	6,204
Payables for Investment Securities Purchased	438
Collateral for Securities on Loan	620,707
Payables for Capital Shares Redeemed	17,881
Payables to Vanguard	1,343
Total Liabilities	646,573
Net Assets	48,083,900
1 Includes $583,708,000 of securities on loan.

Table of Contents

Small-Cap Value Index Fund

Statement of Assets and Liabilities (continued)
At June 30, 2023, net assets consisted of:
($000s, except shares, footnotes, and per-share amounts)	Amount
Paid-in Capital	44,072,116
Total Distributable Earnings (Loss)	4,011,784
Net Assets	48,083,900

Investor Shares—Net Assets
Applicable to 3,061,768 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	121,430
Net Asset Value Per Share—Investor Shares	$39.66

ETF Shares—Net Assets
Applicable to 149,851,127 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	24,781,863
Net Asset Value Per Share—ETF Shares	$165.38

Admiral Shares—Net Assets
Applicable to 253,374,883 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	18,004,912
Net Asset Value Per Share—Admiral Shares	$71.06

Institutional Shares—Net Assets
Applicable to 130,307,412 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	5,175,695
Net Asset Value Per Share—Institutional Shares	$39.72

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Value Index Fund

Statement of Operations


	Six Months Ended June 30, 2023
	($000)
Investment Income
Income
Dividends¹	496,116
Interest²	1,254
Securities Lending—Net	33,710
Total Income	531,080
Expenses
The Vanguard Group—Note B
Investment Advisory Services	534
Management and Administrative—Investor Shares	120
Management and Administrative—ETF Shares	6,888
Management and Administrative—Admiral Shares	5,223
Management and Administrative—Institutional Shares	1,247
Marketing and Distribution—Investor Shares	4
Marketing and Distribution—ETF Shares	698
Marketing and Distribution—Admiral Shares	516
Marketing and Distribution—Institutional Shares	94
Custodian Fees	252
Shareholders’ Reports—Investor Shares	—
Shareholders’ Reports—ETF Shares	461
Shareholders’ Reports—Admiral Shares	118
Shareholders’ Reports—Institutional Shares	57
Trustees’ Fees and Expenses	12
Other Expenses	13
Total Expenses	16,237
Net Investment Income	514,843
Realized Net Gain (Loss)
Investment Securities Sold^2,3	411,629
Futures Contracts	(3,284)
Swap Contracts	(6,218)
Realized Net Gain (Loss)	402,127

Table of Contents

Small-Cap Value Index Fund

Statement of Operations (continued)
	Six Months Ended June 30, 2023
	($000)
Change in Unrealized Appreciation (Depreciation)
Investment Securities²	1,424,503
Futures Contracts	(459)
Swap Contracts	5,816
Change in Unrealized Appreciation (Depreciation)	1,429,860
Net Increase (Decrease) in Net Assets Resulting from Operations	2,346,830

1	Dividends are net of foreign withholding taxes of $4,000.
2	Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,174,000, $3,000, and ($38,000), respectively. Purchases and sales are for temporary cash investment purposes.
3	Includes $1,349,390,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Value Index Fund

Statement of Changes in Net Assets


	Six Months Ended June 30, 2023	Year Ended December 31, 2022
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	514,843	937,395
Realized Net Gain (Loss)	402,127	2,870,695
Change in Unrealized Appreciation (Depreciation)	1,429,860	(8,621,190)
Net Increase (Decrease) in Net Assets Resulting from Operations	2,346,830	(4,813,100)
Distributions
Investor Shares	(1,377)	(2,947)
ETF Shares	(268,313)	(477,621)
Admiral Shares	(193,821)	(352,210)
Institutional Shares	(55,474)	(91,664)
Total Distributions	(518,985)	(924,442)
Capital Share Transactions
Investor Shares	(32,531)	(38,171)
ETF Shares	80,725	(34,278)
Admiral Shares	(201,309)	363,608
Institutional Shares	172,836	581,216
Net Increase (Decrease) from Capital Share Transactions	19,721	872,375
Total Increase (Decrease)	1,847,566	(4,865,167)
Net Assets
Beginning of Period	46,236,334	51,101,501
End of Period	48,083,900	46,236,334

See accompanying Notes, which are an integral part of the Financial Statements.

Table of Contents

Small-Cap Value Index Fund

Financial Highlights

Investor Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$38.09	$42.87	$34.08	$32.86	$27.35	$31.82
Investment Operations
Net Investment Income¹	.400	.722	.724	.550	.543	.603
Net Realized and Unrealized Gain (Loss) on Investments	1.572	(4.777)	8.767	1.208	5.608	(4.471)
Total from Investment Operations	1.972	(4.055)	9.491	1.758	6.151	(3.868)
Distributions
Dividends from Net Investment Income	(.402)	(.725)	(.701)	(.538)	(.641)	(.602)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.402)	(.725)	(.701)	(.538)	(.641)	(.602)
Net Asset Value, End of Period	$39.66	$38.09	$42.87	$34.08	$32.86	$27.35
Total Return²	5.25%	-9.43%	27.96%	5.72%	22.61%	-12.34%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$121	$149	$208	$234	$255	$1,501
Ratio of Total Expenses to Average Net Assets	0.19%	0.19%³	0.19%	0.19%	0.19%	0.19%
Ratio of Net Investment Income to Average Net Assets	2.19%	1.83%	1.78%	1.98%	1.76%	1.92%
Portfolio Turnover Rate⁴	7%	13%	16%	26%	19%	18%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.19%.
4	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Value Index Fund

Financial Highlights

ETF Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$158.84	$178.77	$142.13	$137.05	$114.05	$132.71
Investment Operations
Net Investment Income¹	1.763	3.273	3.131	2.584	2.840	2.720
Net Realized and Unrealized Gain (Loss) on Investments	6.556	(19.975)	36.640	4.884	22.984	(18.702)
Total from Investment Operations	8.319	(16.702)	39.771	7.468	25.824	(15.982)
Distributions
Dividends from Net Investment Income	(1.779)	(3.228)	(3.131)	(2.388)	(2.824)	(2.678)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(1.779)	(3.228)	(3.131)	(2.388)	(2.824)	(2.678)
Net Asset Value, End of Period	$165.38	$158.84	$178.77	$142.13	$137.05	$114.05
Total Return	5.32%	-9.29%	28.07%	5.82%	22.76%	-12.22%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$24,782	$23,786	$26,854	$17,837	$14,808	$11,560
Ratio of Total Expenses to Average Net Assets	0.07%	0.07%²	0.07%	0.07%	0.07%	0.07%
Ratio of Net Investment Income to Average Net Assets	2.31%	1.99%	1.84%	2.23%	2.19%	2.04%
Portfolio Turnover Rate³	7%	13%	16%	26%	19%	18%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Value Index Fund

Financial Highlights

Admiral Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$68.25	$76.81	$61.07	$58.89	$49.01	$57.02
Investment Operations
Net Investment Income¹	.754	1.403	1.381	1.058	1.230	1.165
Net Realized and Unrealized Gain (Loss) on Investments	2.820	(8.576)	15.704	2.148	9.863	(8.024)
Total from Investment Operations	3.574	(7.173)	17.085	3.206	11.093	(6.859)
Distributions
Dividends from Net Investment Income	(.764)	(1.387)	(1.345)	(1.026)	(1.213)	(1.151)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.764)	(1.387)	(1.345)	(1.026)	(1.213)	(1.151)
Net Asset Value, End of Period	$71.06	$68.25	$76.81	$61.07	$58.89	$49.01
Total Return²	5.31%	-9.31%	28.09%	5.85%	22.76%	-12.23%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$18,005	$17,505	$19,307	$14,314	$13,907	$10,167
Ratio of Total Expenses to Average Net Assets	0.07%	0.07%³	0.07%	0.07%	0.07%	0.07%
Ratio of Net Investment Income to Average Net Assets	2.30%	1.99%	1.89%	2.13%	2.21%	2.04%
Portfolio Turnover Rate⁴	7%	13%	16%	26%	19%	18%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%.
4	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Value Index Fund

Financial Highlights

Institutional Shares
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	Year Ended December 31,
For a Share Outstanding Throughout Each Period	Six Months Ended June 30, 2023	2022	2021	2020	2019	2018
Net Asset Value, Beginning of Period	$38.15	$42.94	$34.14	$32.92	$27.39	$31.87
Investment Operations
Net Investment Income¹	.423	.796	.781	.597	.684	.651
Net Realized and Unrealized Gain (Loss) on Investments	1.576	(4.806)	8.775	1.199	5.527	(4.485)
Total from Investment Operations	1.999	(4.010)	9.556	1.796	6.211	(3.834)
Distributions
Dividends from Net Investment Income	(.429)	(.780)	(.756)	(.576)	(.681)	(.646)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.429)	(.780)	(.756)	(.576)	(.681)	(.646)
Net Asset Value, End of Period	$39.72	$38.15	$42.94	$34.14	$32.92	$27.39
Total Return	5.31%	-9.31%	28.11%	5.86%	22.81%	-12.23%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$5,176	$4,797	$4,733	$3,774	$3,632	$3,077
Ratio of Total Expenses to Average Net Assets	0.06%	0.06%²	0.06%	0.06%	0.06%	0.06%
Ratio of Net Investment Income to Average Net Assets	2.31%	2.02%	1.91%	2.14%	2.20%	2.05%
Portfolio Turnover Rate³	7%	13%	16%	26%	19%	18%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

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Small-Cap Value Index Fund

Notes to Financial Statements

Vanguard Small-Cap Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers four classes of shares: Investor Shares, ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

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Small-Cap Value Index Fund

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Small-Cap Value Index Fund

For the six months ended June 30, 2023, the fund did not utilize the credit facilities or the Interfund Lending Program.

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Small-Cap Value Index Fund

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At June 30, 2023, the fund had contributed to Vanguard capital in the amount of $1,565,000, representing less than 0.01% of the fund’s net assets and 0.63% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

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Small-Cap Value Index Fund

The following table summarizes the market value of the fund's investments and derivatives as of June 30, 2023, based on the inputs used to value them:

	Level 1 ($000)	Level 2 ($000)	Level 3 ($000)	Total ($000)
Investments
Assets
Common Stocks	47,980,297	—	—	47,980,297
Temporary Cash Investments	645,231	—	—	645,231
Total	48,625,528	—	—	48,625,528

Derivative Financial Instruments
Assets
Futures Contracts¹	182	—	—	182
Swap Contracts	—	3,789	—	3,789
Total	182	3,789	—	3,971

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.

D. As of June 30, 2023, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount ($000)
Tax Cost	40,852,273
Gross Unrealized Appreciation	12,326,555
Gross Unrealized Depreciation	(4,549,329)
Net Unrealized Appreciation (Depreciation)	7,777,226

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at December 31, 2022, the fund had available capital losses totaling $4,143,488,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending December 31, 2023; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

E. During the six months ended June 30, 2023, the fund purchased $6,022,602,000 of investment securities and sold $5,967,456,000 of investment securities, other than temporary cash investments. Purchases and sales include $2,476,745,000 and $2,609,949,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended June 30, 2023, such purchases were $1,332,957,000 and sales were $272,666,000, resulting in net realized loss of $98,099,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

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Small-Cap Value Index Fund

F. Capital share transactions for each class of shares were:

	Six Months Ended June 30, 2023		Year Ended December 31, 2022
	Amount ($000)	Shares (000)	Amount ($000)	Shares (000)
Investor Shares
Issued	5,668	146	14,773	371
Issued in Lieu of Cash Distributions	1,377	37	2,947	78
Redeemed	(39,576)	(1,026)	(55,891)	(1,394)
Net Increase (Decrease)—Investor Shares	(32,531)	(843)	(38,171)	(945)
ETF Shares
Issued	2,756,495	17,109	8,743,606	53,827
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(2,675,770)	(17,000)	(8,777,884)	(54,300)
Net Increase (Decrease)—ETF Shares	80,725	109	(34,278)	(473)
Admiral Shares
Issued	1,326,227	19,017	2,968,180	42,013
Issued in Lieu of Cash Distributions	169,843	2,537	309,221	4,569
Redeemed	(1,697,379)	(24,653)	(2,913,793)	(41,449)
Net Increase (Decrease)—Admiral Shares	(201,309)	(3,099)	363,608	5,133
Institutional Shares
Issued	504,518	13,055	1,285,688	33,018
Issued in Lieu of Cash Distributions	52,989	1,415	87,334	2,308
Redeemed	(384,671)	(9,894)	(791,806)	(19,834)
Net Increase (Decrease)—Institutional Shares	172,836	4,576	581,216	15,492

H. Management has determined that no events or transactions occurred subsequent to June 30, 2023, that would require recognition or disclosure in these financial statements.

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Trustees Approve Advisory Arrangements

The board of trustees of Vanguard Small-Cap Index Fund, Vanguard Small-Cap Growth Index Fund, and Vanguard Small-Cap Value Index Fund has renewed each fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Equity Index Group. The board determined that continuing each fund’s internalized management structure was in the best interests of the fund and its shareholders.

The board based its decisions upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisor and made presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.

The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.

In addition, the board received periodic reports throughout the year, which included information about the portfolio’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Portfolio Review Department’s ongoing assessment of the advisor.

Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decisions.

Nature, extent, and quality of services

The board reviewed the quality of each fund’s investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Equity Index Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.

The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of each advisory arrangement.

Investment performance

The board considered the short- and long-term performance of each fund, including any periods of outperformance or underperformance compared with its target index and peer group. The board concluded that the performance was such that each advisory arrangement should continue.

Cost

The board concluded that each fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that each fund’s advisory expenses were also below the peer-group average.

The board does not conduct a profitability analysis of Vanguard because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.

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Liquidity Risk Management

Vanguard funds (except for the money market funds) have adopted and implemented a written liquidity risk management program (the “Program”) as required by Rule 22e-4 under the Investment Company Act of 1940. Rule 22e-4 requires that each fund adopt a program that is reasonably designed to assess and manage the fund’s liquidity risk, which is the risk that the fund could not meet redemption requests without significant dilution of remaining investors’ interests in the fund.

Assessment and management of a fund’s liquidity risk under the Program take into consideration certain factors, such as the fund’s investment strategy and the liquidity of its portfolio investments during normal and reasonably foreseeable stressed conditions, its short- and long-term cash-flow projections during both normal and reasonably foreseeable stressed conditions, and its cash and cash-equivalent holdings and access to other funding sources. As required by the rule, the Program includes policies and procedures for classification of fund portfolio holdings in four liquidity categories, maintaining certain levels of highly liquid investments, and limiting holdings of illiquid investments.

The board of trustees of Vanguard Index Funds approved the appointment of liquidity risk management program administrators responsible for administering the Program for Vanguard Small-Cap Index Fund, Vanguard Small-Cap Growth Index Fund, and Vanguard Small-Cap Value Index Fund, and for carrying out the specific responsibilities set forth in the Program, including reporting to the board on at least an annual basis regarding the Program's operation, its adequacy, and the effectiveness of its implementation for the past year (the “Program Administrator Report”). The board has reviewed the Program Administrator Report covering the period from January 1, 2022, through December 31, 2022 (the “Review Period”). The Program Administrator Report stated that during the Review Period the Program operated and was implemented effectively to manage the funds' liquidity risk.

100

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This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to [email protected].

Q482 082023

AboutYour Fund's Expenses	1
Small-Cap Index Fund	3
Small-Cap Growth Index Fund	42
Small-Cap Value Index Fund	69
Trustees Approve Advisory Arrangements	98
Liquidity Risk Management	100

1	Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $998,000, ($37,000), and ($64,000), respectively. Purchases and sales are for temporary cash investment purposes.
2	Includes $571,522,000 of net gain (loss) resulting from in-kind redemptions.