Semiannual Report  |  June 30, 2022
Vanguard Total Stock Market Index Fund

 

Contents

1

4

81

83

 

Table of Contents
About Your Fund’s Expenses
As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.
A fund‘s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The accompanying table illustrates your fund’s costs in two ways:
Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading ”Expenses Paid During Period.“
Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”
The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.
You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.
1

 

Table of Contents
Six Months Ended June 30, 2022      
  Beginning
Account Value
12/31/2021
Ending
Account Value
6/30/2022
Expenses
Paid During
Period
Based on Actual Fund Return      
Total Stock Market Index Fund      
Investor Shares $1,000.00 $785.70 $0.62
ETF Shares 1,000.00 786.20 0.13
Admiral™ Shares 1,000.00 786.20 0.18
Institutional Shares 1,000.00 786.10 0.13
Institutional Plus Shares 1,000.00 786.20 0.09
Institutional Select Shares 1,000.00 786.30 0.04
Based on Hypothetical 5% Yearly Return      
Total Stock Market Index Fund      
Investor Shares $1,000.00 $1,024.10 $0.70
ETF Shares 1,000.00 1,024.65 0.15
Admiral Shares 1,000.00 1,024.60 0.20
Institutional Shares 1,000.00 1,024.65 0.15
Institutional Plus Shares 1,000.00 1,024.70 0.10
Institutional Select Shares 1,000.00 1,024.75 0.05
The calculations are based on expenses incurred in the most recent six-month period. The fund's annualized six-month expense ratios for that period are: 0.14% for Investor Shares, 0.03% for ETF Shares, 0.04% for Admiral Shares, 0.03% for Institutional Shares, 0.02% for Institutional Plus Shares, and 0.01% for Institutional Select Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (181/365).
2

 

Table of Contents
Total Stock Market Index Fund
Fund Allocation
As of June 30, 2022
Basic Materials 2.1%
Consumer Discretionary 13.8
Consumer Staples 5.8
Energy 4.5
Financials 11.2
Health Care 14.3
Industrials 12.7
Real Estate 3.7
Technology 25.8
Telecommunications 2.7
Utilities 3.4
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.
3

 

Table of Contents
Total Stock Market Index Fund
Financial Statements (unaudited)
Schedule of Investments
As of June 30, 2022
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
          Shares Market
Value

($000)
Common Stocks (99.3%)
Basic Materials (2.1%)
Linde plc  14,798,316     4,254,960
Air Products and Chemicals Inc.   6,538,586     1,572,399
Newmont Corp.  23,411,643     1,396,973
Freeport-McMoRan Inc.  42,735,970     1,250,454
Ecolab Inc.   7,582,273     1,165,850
Dow Inc.  21,459,036     1,107,501
International Flavors & Fragrances Inc.   7,517,350       895,467
Fastenal Co.  16,963,707       846,828
Nucor Corp.   7,844,622       819,057
Albemarle Corp.   3,453,724       721,759
LyondellBasell Industries NV Class A   7,725,769       675,696
CF Industries Holdings Inc.   6,154,081       527,589
Mosaic Co.  10,679,215       504,379
International Paper Co.  10,918,437       456,718
FMC Corp.   3,711,816       397,201
Avery Dennison Corp.   2,408,626       389,884
Steel Dynamics Inc.   5,282,749       349,454
Eastman Chemical Co.   3,799,843       341,112
Celanese Corp.   2,872,852       337,876
Reliance Steel & Aluminum Co.   1,826,158       310,191
Alcoa Corp.   5,442,985       248,091
* Cleveland-Cliffs Inc.  13,893,944       213,550
Royal Gold Inc.   1,935,653       206,689
Olin Corp.   4,254,616       196,904
* RBC Bearings Inc.     851,168       157,424
Valvoline Inc.   5,243,316       151,165
Huntsman Corp.   5,259,694       149,112
Ashland Global Holdings Inc.   1,443,598       148,763
Chemours Co.   4,591,457       147,018
          Shares Market
Value

($000)
Hexcel Corp.   2,472,043       129,313
* Univar Solutions Inc.   4,982,674       123,919
Element Solutions Inc.   6,959,677       123,882
United States Steel Corp.   6,904,544       123,660
UFP Industries Inc.   1,764,367       120,224
Commercial Metals Co.   3,580,655       118,520
Balchem Corp.     852,107       110,552
Avient Corp.   2,693,401       107,952
* Livent Corp.   4,753,552       107,858
Cabot Corp.   1,667,668       106,381
Timken Co.   1,965,046       104,246
Sensient Technologies Corp.   1,244,382       100,247
Westlake Corp.     944,050        92,536
* MP Materials Corp.   2,871,188        92,108
Scotts Miracle-Gro Co.   1,146,067        90,528
* Arconic Corp.   3,121,062        87,546
Mueller Industries Inc.   1,600,678        85,300
* Ingevity Corp.   1,141,757        72,091
Innospec Inc.     732,498        70,166
Boise Cascade Co.   1,164,269        69,262
NewMarket Corp.     227,046        68,332
Stepan Co.     627,551        63,602
Hecla Mining Co.  15,897,629        62,319
Minerals Technologies Inc.     973,103        59,690
Quaker Chemical Corp.     397,514        59,436
Tronox Holdings plc Class A   3,437,134        57,744
* GCP Applied Technologies Inc.   1,624,342        50,809
Materion Corp.     606,770        44,737
GrafTech International Ltd.   5,723,610        40,466
Carpenter Technology Corp.   1,430,192        39,917
4

 

Table of Contents
Total Stock Market Index Fund
          Shares Market
Value

($000)
Worthington Industries Inc.     887,217        39,126
Kaiser Aluminum Corp.     468,754        37,074
Compass Minerals International Inc.   1,017,920        36,024
Sylvamo Corp.     980,057        32,028
AdvanSix Inc.     789,776        26,410
*,1 Uranium Energy Corp.   8,314,150        25,608
* TimkenSteel Corp.   1,299,143        24,307
* US Silica Holdings Inc.   2,126,130        24,280
Schnitzer Steel Industries Inc. Class A     729,482        23,956
Schweitzer-Mauduit International Inc.     926,738        23,280
* Coeur Mining Inc.   7,416,303        22,546
*,1 Energy Fuels Inc.   4,396,970        21,589
Hawkins Inc.     555,530        20,016
American Vanguard Corp.     857,784        19,171
*,1 Origin Materials Inc.   3,718,023        19,036
*,1 Piedmont Lithium Inc.     499,888        18,201
Ecovyst Inc.   1,822,100        17,948
* Resolute Forest Products Inc.   1,355,417        17,295
Neenah Inc.     491,344        16,775
* Clearwater Paper Corp.     485,925        16,342
Koppers Holdings Inc.     587,127        13,293
Ryerson Holding Corp.     622,315        13,249
* LSB Industries Inc.     914,871        12,680
* Intrepid Potash Inc.     279,037        12,638
Haynes International Inc.     347,482        11,387
*,1 Amyris Inc.   6,117,706        11,318
*,1 5E Advanced Materials Inc.     922,100        11,231
* Century Aluminum Co.   1,444,160        10,643
Omega Flex Inc.      88,289         9,502
Glatfelter Corp.   1,275,904         8,778
* Northwest Pipe Co.     283,882         8,499
Tredegar Corp.     804,870         8,049
* Alto Ingredients Inc.   2,071,987         7,687
Olympic Steel Inc.     266,301         6,857
*,1 Ur-Energy Inc.   5,979,392         6,338
FutureFuel Corp.     818,795         5,961
* Unifi Inc.     422,068         5,934
* Hycroft Mining Holding Corp. Class A   4,357,713         4,837
          Shares Market
Value

($000)
* Rayonier Advanced Materials Inc.   1,782,488         4,670
*,1 Dakota Gold Corp.   1,345,100         4,506
Gold Resource Corp.   2,619,731         4,270
* Synalloy Corp.     302,356         4,251
*,1 Gatos Silver Inc.   1,369,000         3,929
Eastern Co.     163,220         3,320
*,1 NN Inc.   1,139,465         2,883
*,1 Marrone Bio Innovations Inc.   2,405,383         2,790
Northern Technologies International Corp.     243,564         2,277
*,1 Idaho Strategic Resources Inc.     276,311         2,175
*,1 Zymergen Inc.   1,572,621         1,934
* Perma-Pipe International Holdings Inc.     203,435         1,831
*,1 Westwater Resources Inc.   1,555,654         1,680
* Universal Stainless & Alloy Products Inc.     217,305         1,608
*,1 Golden Minerals Co.   4,480,131         1,601
Friedman Industries Inc.     185,959         1,514
* Ampco-Pittsburgh Corp.     357,753         1,385
Culp Inc.     270,168         1,162
* AgroFresh Solutions Inc.     636,534         1,139
United-Guardian Inc.      73,036         1,095
* United States Antimony Corp.   2,530,540         1,022
*,1 CPS Technologies Corp.     336,311         1,022
Chicago Rivet & Machine Co.      28,369           808
* US Gold Corp.     180,278           748
* Solitario Zinc Corp.   1,172,963           669
*,1 Comstock Inc.   1,025,999           636
* Paramount Gold Nevada Corp.   1,225,450           539
* Flexible Solutions International Inc.     151,258           371
* NextPlat Corp.      50,264            97
* Hycroft Mining Holding Corp. Warrants Exp. 10/6/25     155,000            47
*,2 F-star Therapeutics Inc. CVR      61,021             4
                       23,229,283
Consumer Discretionary (13.7%)
* Amazon.com Inc. 254,987,160    27,082,186
* Tesla Inc.  25,964,171    17,484,792
 
5

 

Table of Contents
Total Stock Market Index Fund
          Shares Market
Value

($000)
Home Depot Inc.  30,303,660     8,311,385
Costco Wholesale Corp.  13,067,037     6,262,769
McDonald's Corp.  21,802,801     5,382,675
* Walt Disney Co.  53,707,617     5,069,999
Walmart Inc.  40,580,429     4,933,769
NIKE Inc. Class B  37,409,962     3,823,298
Lowe's Cos. Inc.  19,224,850     3,358,005
Starbucks Corp.  33,813,480     2,583,012
* Netflix Inc.  13,100,543     2,290,892
* Booking Holdings Inc.   1,197,824     2,094,982
Target Corp.  13,672,402     1,930,953
TJX Cos. Inc.  32,903,555     1,837,664
Dollar General Corp.   6,747,542     1,656,117
Activision Blizzard Inc.  20,740,541     1,614,858
Estee Lauder Cos. Inc. Class A   6,154,770     1,567,435
Ford Motor Co. 116,425,762     1,295,819
* AutoZone Inc.     585,314     1,257,910
* General Motors Co.  38,690,186     1,228,800
* O'Reilly Automotive Inc.   1,938,196     1,224,475
Marriott International Inc. Class A   8,686,075     1,181,393
* Uber Technologies Inc.  52,126,532     1,066,509
* Chipotle Mexican Grill Inc.     783,323     1,024,007
Electronic Arts Inc.   8,251,604     1,003,808
* Dollar Tree Inc.   6,319,453       984,887
Yum! Brands Inc.   8,407,303       954,313
* Lululemon Athletica Inc.   3,440,640       937,953
Hilton Worldwide Holdings Inc.   8,211,389       915,077
* Airbnb Inc. Class A  10,145,561       903,767
* Warner Bros Discovery Inc.  64,438,018       864,758
Ross Stores Inc.  10,367,041       728,077
* Aptiv plc   7,990,930       711,752
eBay Inc.  16,512,719       688,085
* Copart Inc.   6,311,711       685,830
Tractor Supply Co.   3,300,460       639,794
* Southwest Airlines Co.  17,495,646       631,943
DR Horton Inc.   9,342,877       618,405
* Ulta Beauty Inc.   1,539,906       593,603
* Take-Two Interactive Software Inc.   4,776,291       585,239
Genuine Parts Co.   4,176,843       555,520
* Delta Air Lines Inc.  18,884,661       547,089
* Trade Desk Inc. Class A  13,039,958       546,244
Lennar Corp. Class A   7,141,543       503,979
          Shares Market
Value

($000)
VF Corp.  10,329,513       456,255
Garmin Ltd.   4,556,964       447,722
* CarMax Inc.   4,730,481       428,014
* Expedia Group Inc.   4,465,400       423,454
Darden Restaurants Inc.   3,676,806       415,920
Domino's Pizza Inc.   1,062,204       413,951
*,1 Rivian Automotive Inc. Class A  15,806,681       406,864
Pool Corp.   1,123,265       394,524
Best Buy Co. Inc.   5,965,612       388,898
Omnicom Group Inc.   6,067,563       385,958
Paramount Global Class B  15,545,484       383,663
* NVR Inc.      92,119       368,857
* Live Nation Entertainment Inc.   4,368,491       360,750
LKQ Corp.   7,097,429       348,413
* Liberty Media Corp.-Liberty Formula One Class C   5,408,365       343,269
* United Airlines Holdings Inc.   9,648,289       341,742
* Las Vegas Sands Corp.  10,118,051       339,865
Interpublic Group of Cos. Inc.  11,610,621       319,640
Advance Auto Parts Inc.   1,789,720       309,783
Service Corp. International   4,447,591       307,417
Hasbro Inc.   3,700,036       302,959
*,1 Lucid Group Inc.  17,227,882       295,630
MGM Resorts International  10,058,071       291,181
*,1 ROBLOX Corp. Class A   8,793,007       288,938
Fox Corp. Class A   8,781,125       282,401
PulteGroup Inc.   7,018,718       278,152
* Etsy Inc.   3,751,050       274,614
* Burlington Stores Inc.   1,949,390       265,565
Vail Resorts Inc.   1,196,067       260,802
Whirlpool Corp.   1,658,439       256,842
Rollins Inc.   7,262,161       253,595
* BJ's Wholesale Club Holdings Inc.   3,982,382       248,182
* American Airlines Group Inc.  19,158,697       242,932
BorgWarner Inc.   7,053,576       235,378
Lithia Motors Inc. Class A     853,631       234,586
*,1 GameStop Corp. Class A   1,912,676       233,920
Aramark   7,593,068       232,576
* Mattel Inc.  10,392,773       232,071
 
6

 

Table of Contents
Total Stock Market Index Fund
          Shares Market
Value

($000)
* Caesars Entertainment Inc.   6,017,022       230,452
Williams-Sonoma Inc.   2,066,559       229,285
Tapestry Inc.   7,428,524       226,719
* Royal Caribbean Cruises Ltd.   6,394,669       223,238
Lear Corp.   1,761,399       221,742
*,1 Carnival Corp.  24,765,487       214,221
News Corp. Class A  13,647,783       212,632
Newell Brands Inc.  10,988,273       209,217
*,1 AMC Entertainment Holdings Inc. Class A  15,256,557       206,726
* Deckers Outdoor Corp.     804,453       205,417
Churchill Downs Inc.   1,011,619       193,755
Gentex Corp.   6,920,522       193,567
* Floor & Decor Holdings Inc. Class A   2,965,037       186,679
* Five Below Inc.   1,633,641       185,304
Nexstar Media Group Inc. Class A   1,130,189       184,085
Bath & Body Works Inc.   6,665,934       179,447
Wyndham Hotels & Resorts Inc.   2,715,820       178,484
* Capri Holdings Ltd.   4,348,065       178,314
* Wynn Resorts Ltd.   3,076,124       175,278
Nielsen Holdings plc   7,412,806       172,125
* Planet Fitness Inc. Class A   2,506,029       170,435
H&R Block Inc.   4,708,351       166,299
* Liberty Media Corp.-Liberty SiriusXM Class C   4,583,856       165,248
Polaris Inc.   1,663,645       165,167
* SiteOne Landscape Supply Inc.   1,327,783       157,834
* AutoNation Inc.   1,376,488       153,836
Macy's Inc.   8,379,075       153,505
Murphy USA Inc.     642,323       149,578
* Penn National Gaming Inc.   4,911,763       149,416
* Alaska Air Group Inc.   3,723,964       149,145
* Bright Horizons Family Solutions Inc.   1,748,345       147,770
Texas Roadhouse Inc. Class A   2,015,303       147,520
Toll Brothers Inc.   3,281,339       146,348
* Terminix Global Holdings Inc.   3,583,426       145,666
1 Sirius XM Holdings Inc.  23,213,548       142,299
Fox Corp. Class B   4,780,260       141,974
          Shares Market
Value

($000)
* Skechers USA Inc. Class A   3,989,036       141,930
TEGNA Inc.   6,570,433       137,782
*,1 Norwegian Cruise Line Holdings Ltd.  12,352,677       137,362
Leggett & Platt Inc.   3,944,693       136,407
Kohl's Corp.   3,782,903       135,012
* Light & Wonder Inc.   2,829,174       132,943
New York Times Co. Class A   4,670,884       130,318
* IAA Inc.   3,962,788       129,861
Choice Hotels International Inc.   1,153,606       128,777
Marriott Vacations Worldwide Corp.   1,099,312       127,740
*,1 DraftKings Inc. Class A  10,942,899       127,704
* Avis Budget Group Inc.     855,231       125,787
AMERCO     261,178       124,903
Harley-Davidson Inc.   3,904,161       123,606
* RH     579,900       123,090
1 Dick's Sporting Goods Inc.   1,590,439       119,871
Thor Industries Inc.   1,539,785       115,068
* Helen of Troy Ltd.     702,158       114,037
PVH Corp.   1,985,939       113,000
* Lyft Inc. Class A   8,487,640       112,716
Boyd Gaming Corp.   2,260,060       112,438
* Asbury Automotive Group Inc.     651,437       110,314
Ralph Lauren Corp.   1,196,800       107,293
* Hyatt Hotels Corp. Class A   1,445,878       106,865
Hanesbrands Inc.  10,274,366       105,723
*,1 Hertz Global Holdings Inc.   6,669,582       105,646
Tempur Sealy International Inc.   4,910,429       104,936
* YETI Holdings Inc.   2,410,000       104,281
* Ollie's Bargain Outlet Holdings Inc.   1,763,523       103,607
* Fox Factory Holding Corp.   1,246,040       100,356
*,1 Wayfair Inc. Class A   2,231,984        97,225
Wendy's Co.   5,049,420        95,333
* Hilton Grand Vacations Inc.   2,663,399        95,163
Travel + Leisure Co.   2,389,278        92,752
Academy Sports & Outdoors Inc.   2,539,144        90,241
* Grand Canyon Education Inc.     951,258        89,599
* Coty Inc. Class A  11,154,673        89,349
*,1 Chewy Inc. Class A   2,572,862        89,330
* Goodyear Tire & Rubber Co.   8,312,988        89,032
 
7

 

Table of Contents
Total Stock Market Index Fund
          Shares Market
Value

($000)
* Dorman Products Inc.     795,199        87,241
* Visteon Corp.     830,864        86,061
* Crocs Inc.   1,729,089        84,155
Warner Music Group Corp. Class A   3,451,827        84,086
* Callaway Golf Co.   4,079,642        83,225
Penske Automotive Group Inc.     784,354        82,114
* Liberty Media Corp.-Liberty SiriusXM Class A   2,229,664        80,357
World Wrestling Entertainment Inc. Class A   1,280,526        80,020
LCI Industries     712,055        79,665
Carter's Inc.   1,127,662        79,478
Papa John's International Inc.     950,798        79,411
* JetBlue Airways Corp.   9,444,288        79,049
* Peloton Interactive Inc. Class A   8,590,671        78,862
Group 1 Automotive Inc.     463,909        78,772
* Meritage Homes Corp.   1,082,189        78,459
* Taylor Morrison Home Corp. Class A   3,353,678        78,342
* Endeavor Group Holdings Inc. Class A   3,766,353        77,436
*,1 Spirit Airlines Inc.   3,202,664        76,351
* Skyline Champion Corp.   1,591,814        75,484
Columbia Sportswear Co.   1,017,577        72,838
Foot Locker Inc.   2,828,097        71,409
Signet Jewelers Ltd.   1,330,230        71,114
KB Home   2,473,196        70,387
* Madison Square Garden Sports Corp.     464,634        70,160
1 Nordstrom Inc.   3,274,637        69,193
Steven Madden Ltd.   2,119,254        68,261
* Victoria's Secret & Co.   2,437,904        68,188
* Sonos Inc.   3,773,068        68,066
*,1 Carvana Co.   2,947,980        66,565
* Chegg Inc.   3,525,565        66,210
* National Vision Holdings Inc.   2,396,692        65,909
Wingstop Inc.     881,080        65,878
Gap Inc.   7,623,655        62,819
Graham Holdings Co. Class B     109,623        62,139
          Shares Market
Value

($000)
* Liberty Media Corp.-Liberty Formula One Class A   1,071,104        62,092
Rush Enterprises Inc. Class A   1,282,824        61,832
*,1 Leslie's Inc.   4,040,583        61,336
* Gentherm Inc.     975,533        60,883
* Boot Barn Holdings Inc.     880,342        60,664
Lennar Corp. Class B   1,029,913        60,466
John Wiley & Sons Inc. Class A   1,239,209        59,185
MillerKnoll Inc.   2,245,607        58,992
* Frontdoor Inc.   2,422,117        58,325
Cracker Barrel Old Country Store Inc.     692,247        57,796
* SeaWorld Entertainment Inc.   1,277,745        56,451
* Sabre Corp.   9,635,312        56,174
Kontoor Brands Inc.   1,658,376        55,340
MDC Holdings Inc.   1,689,797        54,597
Dana Inc.   3,825,951        53,831
* TripAdvisor Inc.   2,997,856        53,362
*,1 Duolingo Inc. Class A     608,034        53,233
* KAR Auction Services Inc.   3,595,430        53,104
PriceSmart Inc.     728,211        52,162
Red Rock Resorts Inc. Class A   1,550,868        51,737
* LGI Homes Inc.     594,558        51,667
*,1 QuantumScape Corp. Class A   5,990,657        51,460
* Tri Pointe Homes Inc.   3,048,549        51,429
* Allegiant Travel Co.     453,706        51,310
* Cavco Industries Inc.     257,741        50,515
* Under Armour Inc. Class C   6,643,927        50,361
1 American Eagle Outfitters Inc.   4,468,082        49,953
* Six Flags Entertainment Corp.   2,283,648        49,555
* Stride Inc.   1,208,570        49,298
Wolverine World Wide Inc.   2,382,164        48,024
* Cinemark Holdings Inc.   3,192,003        47,944
Strategic Education Inc.     665,614        46,979
* Knowles Corp.   2,697,342        46,745
* Adtalem Global Education Inc.   1,263,234        45,438
* elf Beauty Inc.   1,471,380        45,142
* Everi Holdings Inc.   2,732,745        44,571
Winnebago Industries Inc.     917,479        44,553
* Vista Outdoor Inc.   1,581,249        44,117
 
8

 

Table of Contents
Total Stock Market Index Fund
          Shares Market
Value

($000)
Laureate Education Inc. Class A   3,792,458        43,879
Bloomin' Brands Inc.   2,629,240        43,698
* Under Armour Inc. Class A   5,243,636        43,679
* Shake Shack Inc. Class A   1,096,339        43,283
* Madison Square Garden Entertainment Corp.     816,592        42,969
Levi Strauss & Co. Class A   2,602,031        42,465
* Coursera Inc.   2,977,521        42,221
* Tenneco Inc. Class A   2,449,073        42,026
Gray Television Inc.   2,474,662        41,797
HNI Corp.   1,192,395        41,364
* Driven Brands Holdings Inc.   1,487,340        40,961
Oxford Industries Inc.     457,619        40,609
Monro Inc.     946,808        40,599
Acushnet Holdings Corp.     972,110        40,518
Century Communities Inc.     883,312        39,722
*,1 Fisker Inc. Class A   4,633,236        39,707
Cheesecake Factory Inc.   1,480,381        39,112
* Central Garden & Pet Co. Class A     966,283        38,661
* Dave & Buster's Entertainment Inc.   1,154,658        37,850
Inter Parfums Inc.     517,949        37,841
* Sally Beauty Holdings Inc.   3,152,705        37,580
* ODP Corp.   1,233,583        37,304
*,1 Luminar Technologies Inc. Class A   5,965,697        35,377
Jack in the Box Inc.     617,405        34,612
*,1 Petco Health & Wellness Co. Inc. Class A   2,340,882        34,505
* Figs Inc. Class A   3,728,508        33,967
Sturm Ruger & Co. Inc.     518,265        32,988
* M/I Homes Inc.     831,424        32,974
* Malibu Boats Inc. Class A     609,055        32,103
* SkyWest Inc.   1,492,221        31,710
*,1 Overstock.com Inc.   1,266,300        31,670
*,1 Dutch Bros Inc. Class A     988,216        31,277
* Urban Outfitters Inc.   1,671,099        31,183
* Revolve Group Inc. Class A   1,194,870        30,959
La-Z-Boy Inc.   1,287,637        30,530
          Shares Market
Value

($000)
Dine Brands Global Inc.     466,845        30,382
* Lions Gate Entertainment Corp. Class B   3,425,633        30,248
*,1 Sweetgreen Inc. Class A   2,541,537        29,609
* iRobot Corp.     799,070        29,366
Franchise Group Inc.     834,174        29,254
Rent-A-Center Inc.   1,481,748        28,820
* Brinker International Inc.   1,302,388        28,692
Qurate Retail Inc. Class A   9,926,143        28,488
* PowerSchool Holdings Inc. Class A   2,332,948        28,112
Caleres Inc.   1,066,686        27,990
1 Dillard's Inc. Class A     125,623        27,709
1 Krispy Kreme Inc.   1,990,577        27,072
* PROG Holdings Inc.   1,589,148        26,221
* XPEL Inc.     569,732        26,168
Sinclair Broadcast Group Inc. Class A   1,245,164        25,401
* iHeartMedia Inc. Class A   3,202,219        25,265
* Abercrombie & Fitch Co. Class A   1,483,029        25,093
Buckle Inc.     896,846        24,834
Matthews International Corp. Class A     861,034        24,686
Standard Motor Products Inc.     542,712        24,417
* G-III Apparel Group Ltd.   1,205,677        24,391
* Funko Inc. Class A   1,089,382        24,315
* American Axle & Manufacturing Holdings Inc.   3,211,377        24,182
* Mister Car Wash Inc.   2,222,236        24,178
Steelcase Inc. Class A   2,241,633        24,053
*,1 ContextLogic Inc. Class A  14,970,537        23,953
1 Camping World Holdings Inc. Class A   1,106,772        23,895
* Golden Entertainment Inc.     594,281        23,504
* AMC Networks Inc. Class A     784,987        22,859
* Monarch Casino & Resort Inc.     388,782        22,810
* 2U Inc.   2,167,299        22,692
* Liberty Media Corp.-Liberty Braves Class C     940,129        22,563
 
9

 

Table of Contents
Total Stock Market Index Fund
          Shares Market
Value

($000)
* Perdoceo Education Corp.   1,894,742        22,320
Designer Brands Inc. Class A   1,708,467        22,313
* EW Scripps Co. Class A   1,778,726        22,181
*,1 Clean Energy Fuels Corp.   4,919,157        22,038
Interface Inc. Class A   1,744,651        21,878
* MarineMax Inc.     602,194        21,751
* ACV Auctions Inc. Class A   3,319,746        21,711
* Central Garden & Pet Co.     493,884        20,951
Sonic Automotive Inc. Class A     568,048        20,808
* Hawaiian Holdings Inc.   1,442,932        20,648
Arko Corp.   2,481,279        20,247
* GoPro Inc. Class A   3,657,631        20,227
* Cardlytics Inc.     902,620        20,137
News Corp. Class B   1,238,515        19,680
* Genesco Inc.     385,253        19,228
* Sleep Number Corp.     621,074        19,222
*,1 Bally's Corp.     931,391        18,423
* Cars.com Inc.   1,946,017        18,351
*,1 Life Time Group Holdings Inc.   1,423,289        18,332
*,1 Blink Charging Co.   1,095,113        18,102
Scholastic Corp.     488,093        17,557
Smith & Wesson Brands Inc.   1,335,687        17,538
* Accel Entertainment Inc. Class A   1,650,571        17,529
* Sun Country Airlines Holdings Inc.     940,020        17,240
* Chico's FAS Inc.   3,464,663        17,219
* America's Car-Mart Inc.     168,912        16,993
* Green Brick Partners Inc.     864,648        16,921
Global Industrial Co.     497,893        16,814
Big Lots Inc.     800,639        16,789
*,1 Udemy Inc.   1,642,008        16,765
A-Mark Precious Metals Inc.     516,684        16,663
1 Guess? Inc.     967,058        16,488
* Viad Corp.     577,747        15,952
Carriage Services Inc. Class A     402,058        15,942
* Thryv Holdings Inc.     702,193        15,722
* Lions Gate Entertainment Corp. Class A   1,662,398        15,477
          Shares Market
Value

($000)
Clarus Corp.     807,350        15,332
Ruth's Hospitality Group Inc.     932,005        15,154
*,1 Corsair Gaming Inc.   1,152,258        15,129
* Arlo Technologies Inc.   2,406,153        15,087
Hibbett Inc.     344,177        15,044
* QuinStreet Inc.   1,490,291        14,992
* Denny's Corp.   1,700,601        14,761
* Children's Place Inc.     378,118        14,716
* BJ's Restaurants Inc.     657,874        14,263
Winmark Corp.      71,038        13,893
Movado Group Inc.     445,639        13,784
Ethan Allen Interiors Inc.     677,482        13,692
1 European Wax Center Inc. Class A     757,510        13,347
*,1 Rover Group Inc. Class A   3,549,274        13,345
*,1 Holley Inc.   1,251,869        13,145
* Stoneridge Inc.     753,328        12,920
* TravelCenters of America Inc.     373,129        12,862
* Stagwell Inc.   2,345,757        12,737
*,1 Vuzix Corp.   1,792,261        12,725
* Sportsman's Warehouse Holdings Inc.   1,302,004        12,486
Aaron's Co. Inc.     853,131        12,413
* Zumiez Inc.     459,022        11,935
* Gannett Co. Inc.   4,063,386        11,784
*,1 Liberty Media Corp.-Liberty Braves Class A     445,381        11,201
RCI Hospitality Holdings Inc.     231,430        11,192
* Clear Channel Outdoor Holdings Inc.  10,445,735        11,177
* Lovesac Co.     401,588        11,044
* MasterCraft Boat Holdings Inc.     519,098        10,927
* Stitch Fix Inc. Class A   2,204,657        10,891
*,1 Allbirds Inc. Class A   2,751,448        10,813
* Chuy's Holdings Inc.     537,332        10,704
* Liquidity Services Inc.     795,167        10,687
Rush Enterprises Inc. Class B     213,248        10,579
* Boston Omaha Corp. Class A     504,858        10,425
* Marcus Corp.     695,300        10,270
* Beazer Homes USA Inc.     848,275        10,239
*,1 Wheels Up Experience Inc.   5,164,967        10,072
Haverty Furniture Cos. Inc.     430,730         9,984
 
10

 

Table of Contents
Total Stock Market Index Fund
          Shares Market
Value

($000)
Shoe Carnival Inc.     460,003         9,941
* Sciplay Corp. Class A     705,371         9,854
* WW International Inc.   1,536,511         9,818
*,1 Portillo's Inc. Class A     595,958         9,744
*,1 Playstudios Inc.   2,241,786         9,595
*,1 Bed Bath & Beyond Inc.   1,884,415         9,365
* OneWater Marine Inc. Class A     282,871         9,349
*,1 Eastman Kodak Co.   1,999,566         9,278
*,1 Vizio Holding Corp. Class A   1,357,968         9,261
*,1 Frontier Group Holdings Inc.     984,399         9,224
*,1 AMMO Inc.   2,389,053         9,198
Bluegreen Vacations Holding Corp. Class A     365,934         9,134
* CarParts.com Inc.   1,312,022         9,105
* Integral Ad Science Holding Corp.     913,509         9,071
* Selectquote Inc.   3,638,849         9,024
*,1 Mullen Automotive Inc.   8,798,551         8,974
* Latham Group Inc.   1,252,545         8,680
* Angi Inc. Class A   1,879,775         8,609
Johnson Outdoors Inc. Class A     139,239         8,516
*,1 Canoo Inc.   4,601,737         8,513
* American Public Education Inc.     511,008         8,258
*,1 Poshmark Inc. Class A     793,067         8,018
* Tupperware Brands Corp.   1,214,024         7,697
* Quotient Technology Inc.   2,571,128         7,636
Kimball International Inc. Class B     983,424         7,543
* LL Flooring Holdings Inc.     802,995         7,524
* Universal Electronics Inc.     293,728         7,511
* Lindblad Expeditions Holdings Inc.     911,279         7,381
* Rush Street Interactive Inc.   1,572,928         7,346
*,1 Faraday Future Intelligent Electric Inc.   2,819,033         7,329
* Fossil Group Inc.   1,406,415         7,271
*,1 Vinco Ventures Inc.   5,262,437         7,262
Entravision Communications Corp. Class A   1,586,226         7,233
          Shares Market
Value

($000)
* 1-800-Flowers.com Inc. Class A     746,053         7,095
Rocky Brands Inc.     205,883         7,037
*,1 Lordstown Motors Corp.   4,431,521         7,002
1 Big 5 Sporting Goods Corp.     620,900         6,960
* Daily Journal Corp.      26,386         6,829
* Universal Technical Institute Inc.     945,994         6,745
* Motorcar Parts of America Inc.     508,069         6,666
Build-A-Bear Workshop Inc.