Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)
02 April 2013 - 3:50AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT COMPANY
|
Investment Company Act file number:
811-01530
|
Name of Registrant:
Vanguard Explorer Fund
|
Address of Registrant:
|
P.O. Box 2600
|
Valley Forge, PA 19482
|
Name and address of agent for service:
|
Heidi Stam, Esquire
|
P.O. Box 876
|
Valley Forge, PA 19482
|
Date of fiscal year end:
October 31
|
Date of reporting period:
January 31, 2013
|
I
tem 1:
Schedule of Investments
|
Vanguard Explorer Fund
Schedule of Investments
As of January 31, 2013
|
|
|
|
|
|
|
Market
|
|
|
|
Value
|
|
|
Shares
|
($000)
|
Common Stocks (98.1%)
1
|
|
|
Consumer Discretionary (17.2%)
|
|
|
*
|
Life Time Fitness Inc.
|
1,346,145
|
68,290
|
*
|
Urban Outfitters Inc.
|
1,480,960
|
63,370
|
*
|
Hanesbrands Inc.
|
1,262,792
|
47,329
|
|
Brunswick Corp.
|
1,260,325
|
45,573
|
*
|
Fifth & Pacific Cos. Inc.
|
2,831,790
|
42,760
|
*,^
Pandora Media Inc.
|
3,486,600
|
40,166
|
|
Cheesecake Factory Inc.
|
1,173,287
|
38,906
|
|
GameStop Corp. Class A
|
1,556,792
|
36,118
|
|
Dana Holding Corp.
|
2,225,300
|
35,783
|
*
|
LKQ Corp.
|
1,555,390
|
34,825
|
*
|
Crocs Inc.
|
2,327,300
|
34,584
|
*
|
CarMax Inc.
|
868,830
|
34,249
|
|
Texas Roadhouse Inc. Class A
|
1,927,975
|
33,913
|
|
DSW Inc. Class A
|
485,652
|
32,505
|
|
Tractor Supply Co.
|
297,915
|
30,885
|
*
|
MGM Resorts International
|
2,348,630
|
29,992
|
|
Service Corp. International
|
2,002,130
|
29,892
|
|
Churchill Downs Inc.
|
448,750
|
29,016
|
*
|
Steven Madden Ltd.
|
619,945
|
28,567
|
|
Ulta Salon Cosmetics & Fragrance Inc.
|
289,625
|
28,331
|
*
|
Tumi Holdings Inc.
|
1,253,639
|
28,194
|
*
|
Buffalo Wild Wings Inc.
|
372,686
|
27,411
|
|
Abercrombie & Fitch Co.
|
548,200
|
27,410
|
*
|
TRW Automotive Holdings Corp.
|
463,365
|
26,704
|
|
HSN Inc.
|
441,900
|
26,337
|
*
|
Sally Beauty Holdings Inc.
|
987,522
|
26,209
|
*,^
Coinstar Inc.
|
511,721
|
26,036
|
*
|
Tenneco Inc.
|
732,777
|
25,618
|
*
|
AMC Networks Inc. Class A
|
445,700
|
25,392
|
*
|
PulteGroup Inc.
|
1,221,100
|
25,326
|
|
Aaron's Inc.
|
784,100
|
23,249
|
|
Chico's FAS Inc.
|
1,284,100
|
23,024
|
*
|
DreamWorks Animation SKG Inc. Class A
|
1,294,940
|
22,545
|
*
|
ANN Inc.
|
730,571
|
22,531
|
*
|
Live Nation Entertainment Inc.
|
2,179,380
|
22,360
|
|
Cinemark Holdings Inc.
|
788,500
|
22,188
|
|
Gentex Corp.
|
1,147,350
|
21,949
|
|
Lennar Corp. Class A
|
500,925
|
20,808
|
*
|
Hibbett Sports Inc.
|
385,411
|
20,296
|
*
|
Deckers Outdoor Corp.
|
489,100
|
19,540
|
*
|
Steiner Leisure Ltd.
|
410,396
|
18,488
|
*
|
Denny's Corp.
|
3,495,200
|
17,686
|
|
Group 1 Automotive Inc.
|
260,776
|
17,665
|
*
|
Cabela's Inc.
|
336,600
|
17,375
|
|
Oxford Industries Inc.
|
343,905
|
16,982
|
|
Dunkin' Brands Group Inc.
|
463,825
|
16,934
|
*
|
Carter's Inc.
|
277,100
|
16,690
|
|
Domino's Pizza Inc.
|
342,647
|
15,957
|
|
Tiffany & Co.
|
215,100
|
14,143
|
|
|
|
|
*,^
Vera Bradley Inc.
|
556,700
|
14,079
|
|
Ryland Group Inc.
|
339,098
|
13,469
|
*
|
Krispy Kreme Doughnuts Inc.
|
1,016,395
|
13,213
|
|
Six Flags Entertainment Corp.
|
201,116
|
12,658
|
*,^
Francesca's Holdings Corp.
|
433,500
|
12,311
|
|
Men's Wearhouse Inc.
|
372,904
|
11,318
|
|
Pier 1 Imports Inc.
|
495,171
|
10,740
|
|
PetSmart Inc.
|
159,292
|
10,419
|
*
|
Bloomin' Brands Inc.
|
506,645
|
9,408
|
|
Vail Resorts Inc.
|
177,273
|
9,369
|
*
|
Lululemon Athletica Inc.
|
130,000
|
8,970
|
^
|
Sturm Ruger & Co. Inc.
|
175,474
|
8,909
|
*
|
Select Comfort Corp.
|
379,358
|
8,354
|
*
|
BJ's Restaurants Inc.
|
251,000
|
8,025
|
*
|
Genesco Inc.
|
105,300
|
6,563
|
*
|
Jos A Bank Clothiers Inc.
|
158,000
|
6,405
|
|
Sotheby's
|
170,000
|
6,106
|
*
|
American Public Education Inc.
|
155,197
|
5,980
|
*
|
O'Reilly Automotive Inc.
|
62,000
|
5,744
|
*,^
SodaStream International Ltd.
|
100,000
|
4,809
|
|
Polaris Industries Inc.
|
41,558
|
3,619
|
*
|
Meritage Homes Corp.
|
80,100
|
3,544
|
|
KB Home
|
177,100
|
3,377
|
*
|
Goodyear Tire & Rubber Co.
|
210,000
|
2,890
|
*
|
WMS Industries Inc.
|
114,500
|
2,834
|
|
American Eagle Outfitters Inc.
|
134,800
|
2,724
|
|
Brinker International Inc.
|
77,499
|
2,537
|
*
|
Asbury Automotive Group Inc.
|
67,400
|
2,397
|
*
|
Jarden Corp.
|
40,600
|
2,389
|
*
|
Papa John's International Inc.
|
41,600
|
2,334
|
|
Buckle Inc.
|
49,400
|
2,311
|
|
Foot Locker Inc.
|
64,500
|
2,216
|
|
bebe stores inc
|
522,724
|
2,185
|
|
Guess? Inc.
|
75,100
|
2,034
|
|
Sinclair Broadcast Group Inc. Class A
|
143,800
|
1,982
|
|
Thor Industries Inc.
|
45,700
|
1,923
|
*
|
Conn's Inc.
|
64,497
|
1,834
|
*
|
Smith & Wesson Holding Corp.
|
199,100
|
1,712
|
|
Regal Entertainment Group Class A
|
113,500
|
1,695
|
*
|
Lamar Advertising Co. Class A
|
39,500
|
1,684
|
|
Hot Topic Inc.
|
150,700
|
1,673
|
|
PVH Corp.
|
13,300
|
1,581
|
*
|
G-III Apparel Group Ltd.
|
33,400
|
1,199
|
*
|
DineEquity Inc.
|
15,600
|
1,143
|
|
Cracker Barrel Old Country Store Inc.
|
13,300
|
862
|
*
|
Multimedia Games Holding Co. Inc.
|
48,600
|
823
|
*,^
Zagg Inc.
|
90,219
|
624
|
|
Tupperware Brands Corp.
|
7,500
|
572
|
*
|
Panera Bread Co. Class A
|
3,550
|
567
|
*
|
Netflix Inc.
|
3,200
|
529
|
*
|
Vitamin Shoppe Inc.
|
4,600
|
281
|
|
GNC Holdings Inc. Class A
|
6,000
|
216
|
|
Ameristar Casinos Inc.
|
7,300
|
193
|
|
Movado Group Inc.
|
3,100
|
113
|
|
|
|
1,645,547
|
Consumer Staples (2.1%)
|
|
|
*
|
Smithfield Foods Inc.
|
1,684,010
|
39,254
|
|
|
|
|
*
|
United Natural Foods Inc.
|
598,194
|
32,291
|
^
|
Herbalife Ltd.
|
758,223
|
27,539
|
|
Casey's General Stores Inc.
|
478,740
|
26,201
|
*
|
Green Mountain Coffee Roasters Inc.
|
340,600
|
15,508
|
|
McCormick & Co. Inc.
|
206,850
|
12,897
|
|
PriceSmart Inc.
|
166,300
|
12,807
|
*
|
Monster Beverage Corp.
|
234,600
|
11,237
|
*
|
Boston Beer Co. Inc. Class A
|
49,000
|
6,877
|
*
|
Susser Holdings Corp.
|
151,196
|
6,329
|
*
|
Hain Celestial Group Inc.
|
76,285
|
4,347
|
*
|
Dean Foods Co.
|
151,300
|
2,770
|
|
Nu Skin Enterprises Inc. Class A
|
54,327
|
2,301
|
*
|
Pilgrim's Pride Corp.
|
257,286
|
2,174
|
|
Ingredion Inc.
|
32,600
|
2,154
|
*
|
Rite Aid Corp.
|
816,000
|
1,306
|
|
|
|
205,992
|
Energy (6.0%)
|
|
|
*
|
Superior Energy Services Inc.
|
1,575,951
|
39,352
|
*
|
Atwood Oceanics Inc.
|
710,525
|
37,494
|
*
|
SemGroup Corp. Class A
|
840,540
|
36,278
|
|
Cabot Oil & Gas Corp.
|
675,915
|
35,675
|
|
Core Laboratories NV
|
273,280
|
34,881
|
*
|
Rosetta Resources Inc.
|
578,900
|
30,693
|
|
Patterson-UTI Energy Inc.
|
1,439,300
|
29,275
|
*
|
ION Geophysical Corp.
|
3,851,597
|
26,191
|
*,^
SandRidge Energy Inc.
|
3,338,565
|
23,637
|
*
|
Comstock Resources Inc.
|
1,554,130
|
22,675
|
*
|
Whiting Petroleum Corp.
|
453,889
|
21,596
|
|
Trican Well Service Ltd.
|
1,432,300
|
19,602
|
|
RPC Inc.
|
1,190,750
|
17,826
|
*,^
Clean Energy Fuels Corp.
|
1,224,520
|
15,686
|
*
|
TETRA Technologies Inc.
|
1,843,216
|
15,667
|
|
Oceaneering International Inc.
|
225,900
|
14,279
|
*
|
Kodiak Oil & Gas Corp.
|
1,544,248
|
14,207
|
*
|
Key Energy Services Inc.
|
1,722,700
|
14,006
|
*
|
Southwestern Energy Co.
|
397,625
|
13,639
|
*
|
Rex Energy Corp.
|
1,034,080
|
13,577
|
*
|
McDermott International Inc.
|
1,068,590
|
13,005
|
*
|
Carrizo Oil & Gas Inc.
|
589,527
|
12,663
|
*
|
Pioneer Energy Services Corp.
|
1,669,949
|
12,658
|
*
|
Gulfport Energy Corp.
|
281,525
|
11,619
|
*
|
Approach Resources Inc.
|
423,050
|
11,249
|
*
|
Basic Energy Services Inc.
|
513,700
|
6,642
|
|
CONSOL Energy Inc.
|
132,000
|
4,137
|
*
|
Alpha Natural Resources Inc.
|
426,200
|
3,776
|
*
|
Oil States International Inc.
|
41,400
|
3,212
|
*,^
James River Coal Co.
|
979,200
|
2,947
|
|
Western Refining Inc.
|
76,200
|
2,563
|
|
HollyFrontier Corp.
|
44,346
|
2,316
|
|
Energy XXI Bermuda Ltd.
|
70,700
|
2,214
|
*
|
Oasis Petroleum Inc.
|
59,000
|
2,117
|
*
|
Vaalco Energy Inc.
|
237,500
|
2,016
|
*
|
CVR Energy Inc.
|
28,500
|
1,674
|
|
Rentech Inc.
|
521,825
|
1,602
|
*
|
Geospace Technologies Corp.
|
12,600
|
1,136
|
|
|
|
573,782
|
|
|
|
|
Exchange-Traded Funds (1.8%)
|
|
|
^,2
Vanguard Small-Cap ETF
|
865,083
|
74,432
|
^,2
Vanguard Small-Cap Growth ETF
|
713,200
|
67,369
|
^
|
iShares Russell 2000 Index Fund
|
308,890
|
27,682
|
|
|
|
169,483
|
Financials (7.3%)
|
|
|
*
|
Financial Engines Inc.
|
1,099,800
|
36,579
|
3
|
HFF Inc. Class A
|
2,054,118
|
35,824
|
*,3
eHealth Inc.
|
1,460,025
|
35,581
|
|
Zions Bancorporation
|
1,504,690
|
35,089
|
*
|
Affiliated Managers Group Inc.
|
242,525
|
34,907
|
|
NASDAQ OMX Group Inc.
|
1,228,577
|
34,793
|
|
East West Bancorp Inc.
|
1,254,210
|
29,411
|
*
|
WisdomTree Investments Inc.
|
3,239,384
|
28,021
|
|
Protective Life Corp.
|
862,647
|
27,294
|
|
MFA Financial Inc.
|
2,917,125
|
26,225
|
*
|
Signature Bank
|
352,699
|
26,075
|
|
National Penn Bancshares Inc.
|
2,671,593
|
26,048
|
|
International Bancshares Corp.
|
1,320,655
|
25,819
|
|
Och-Ziff Capital Management Group LLC Class A
|
2,510,379
|
24,853
|
*
|
DFC Global Corp.
|
1,053,004
|
20,281
|
|
Cathay General Bancorp
|
915,495
|
17,770
|
|
Cash America International Inc.
|
358,600
|
17,181
|
*,^
Zillow Inc. Class A
|
441,600
|
16,710
|
|
Primerica Inc.
|
500,000
|
16,440
|
|
Jefferies Group Inc.
|
788,713
|
15,719
|
|
Redwood Trust Inc.
|
765,100
|
14,613
|
*
|
National Financial Partners Corp.
|
773,282
|
13,617
|
|
Wintrust Financial Corp.
|
310,731
|
11,519
|
*
|
Ocwen Financial Corp.
|
294,841
|
11,490
|
|
First Horizon National Corp.
|
1,113,700
|
11,371
|
*
|
Walter Investment Management Corp.
|
229,750
|
10,295
|
|
Validus Holdings Ltd.
|
257,003
|
9,357
|
|
Evercore Partners Inc. Class A
|
239,730
|
9,186
|
|
Cardinal Financial Corp.
|
526,369
|
8,601
|
|
Tanger Factory Outlet Centers
|
239,096
|
8,469
|
|
TCF Financial Corp.
|
576,508
|
7,875
|
|
OFS Capital Corp.
|
314,323
|
4,517
|
|
Old National Bancorp
|
320,475
|
4,282
|
|
Federated Investors Inc. Class B
|
108,500
|
2,567
|
|
State Bank Financial Corp.
|
156,527
|
2,498
|
|
Allied World Assurance Co. Holdings AG
|
27,400
|
2,324
|
*
|
World Acceptance Corp.
|
29,376
|
2,278
|
|
Nelnet Inc. Class A
|
68,376
|
2,081
|
*
|
First Cash Financial Services Inc.
|
38,861
|
2,072
|
*
|
Nationstar Mortgage Holdings Inc.
|
57,400
|
2,072
|
|
Extra Space Storage Inc.
|
45,500
|
1,813
|
*
|
Credit Acceptance Corp.
|
18,135
|
1,806
|
|
Omega Healthcare Investors Inc.
|
69,600
|
1,779
|
|
Regency Centers Corp.
|
34,800
|
1,734
|
|
Montpelier Re Holdings Ltd.
|
71,100
|
1,733
|
|
Apartment Investment & Management Co. Class A
|
63,200
|
1,724
|
|
QC Holdings Inc.
|
476,180
|
1,586
|
|
Sovran Self Storage Inc.
|
21,300
|
1,390
|
|
Home Properties Inc.
|
22,400
|
1,377
|
*
|
Realogy Holdings Corp.
|
25,500
|
1,142
|
|
Inland Real Estate Corp.
|
115,400
|
1,048
|
|
|
|
|
*
|
St. Joe Co.
|
44,500
|
1,046
|
|
Bryn Mawr Bank Corp.
|
42,519
|
984
|
|
Ryman Hospitality Properties
|
24,000
|
959
|
|
CBL & Associates Properties Inc.
|
40,600
|
872
|
|
Macerich Co.
|
14,200
|
848
|
|
Federal Realty Investment Trust
|
6,300
|
667
|
|
Essex Property Trust Inc.
|
4,200
|
646
|
|
Rayonier Inc.
|
10,127
|
545
|
*
|
FelCor Lodging Trust Inc.
|
98,200
|
528
|
*
|
Portfolio Recovery Associates Inc.
|
4,200
|
449
|
|
CBOE Holdings Inc.
|
12,700
|
430
|
|
GAMCO Investors Inc.
|
6,800
|
383
|
*
|
Alexander & Baldwin Inc.
|
8,200
|
275
|
|
Camden Property Trust
|
3,600
|
250
|
|
Coresite Realty Corp.
|
6,600
|
195
|
*
|
Regional Management Corp.
|
10,200
|
171
|
|
First American Financial Corp.
|
5,100
|
122
|
|
|
|
698,206
|
Health Care (17.4%)
|
|
|
|
Cooper Cos. Inc.
|
945,008
|
95,777
|
*
|
Covance Inc.
|
1,217,425
|
81,214
|
*
|
Alkermes plc
|
3,416,235
|
78,744
|
|
West Pharmaceutical Services Inc.
|
1,081,770
|
64,052
|
*
|
Salix Pharmaceuticals Ltd.
|
1,211,870
|
58,049
|
*
|
Onyx Pharmaceuticals Inc.
|
745,473
|
57,789
|
*
|
Bruker Corp.
|
3,052,868
|
51,502
|
*
|
Regeneron Pharmaceuticals Inc.
|
286,980
|
49,917
|
*
|
BioMarin Pharmaceutical Inc.
|
820,200
|
45,021
|
*
|
Catamaran Corp.
|
810,663
|
42,065
|
*
|
Seattle Genetics Inc.
|
1,411,504
|
41,569
|
|
ResMed Inc.
|
939,199
|
41,137
|
|
Universal Health Services Inc. Class B
|
671,020
|
38,007
|
*
|
Health Management Associates Inc. Class A
|
3,497,785
|
36,517
|
*
|
Elan Corp. plc ADR
|
3,436,708
|
36,120
|
*
|
Henry Schein Inc.
|
415,950
|
35,913
|
*
|
ICON plc ADR
|
1,214,145
|
35,587
|
*
|
Luminex Corp.
|
1,884,600
|
34,639
|
*
|
Mettler-Toledo International Inc.
|
153,959
|
32,721
|
*,3
Kindred Healthcare Inc.
|
2,805,539
|
30,244
|
*
|
WellCare Health Plans Inc.
|
576,700
|
29,244
|
*
|
Insulet Corp.
|
1,259,215
|
29,050
|
|
DENTSPLY International Inc.
|
688,950
|
28,770
|
*
|
MedAssets Inc.
|
1,456,211
|
28,469
|
*
|
Bio-Rad Laboratories Inc. Class A
|
242,640
|
27,610
|
*
|
Actavis Inc.
|
306,835
|
26,507
|
*
|
Vertex Pharmaceuticals Inc.
|
589,500
|
26,398
|
*
|
Brookdale Senior Living Inc. Class A
|
949,972
|
25,659
|
*
|
Allscripts Healthcare Solutions Inc.
|
2,189,600
|
24,261
|
*
|
Volcano Corp.
|
917,054
|
22,963
|
*
|
QIAGEN NV
|
1,016,700
|
21,351
|
*
|
Edwards Lifesciences Corp.
|
219,400
|
19,731
|
*
|
Thoratec Corp.
|
523,237
|
19,114
|
*
|
Nektar Therapeutics
|
2,222,800
|
19,049
|
*
|
Cubist Pharmaceuticals Inc.
|
433,680
|
18,666
|
*
|
Optimer Pharmaceuticals Inc.
|
1,847,250
|
17,142
|
*
|
Incyte Corp. Ltd.
|
926,920
|
17,037
|
*
|
MWI Veterinary Supply Inc.
|
146,201
|
16,420
|
|
|
|
|
|
Air Methods Corp.
|
366,578
|
16,027
|
*
|
IPC The Hospitalist Co. Inc.
|
366,133
|
15,612
|
*
|
WuXi PharmaTech Cayman Inc. ADR
|
951,475
|
15,395
|
*
|
Jazz Pharmaceuticals plc
|
270,091
|
15,230
|
*
|
ABIOMED Inc.
|
1,063,400
|
14,834
|
*,^
Exelixis Inc.
|
2,946,847
|
13,732
|
*
|
Alexion Pharmaceuticals Inc.
|
145,689
|
13,693
|
*
|
Cyberonics Inc.
|
286,476
|
12,422
|
*
|
Isis Pharmaceuticals Inc.
|
842,639
|
12,243
|
*
|
AVEO Pharmaceuticals Inc.
|
1,514,500
|
11,980
|
*
|
ImmunoGen Inc.
|
786,800
|
11,267
|
|
Coventry Health Care Inc.
|
240,700
|
11,031
|
*
|
Akorn Inc.
|
790,820
|
10,352
|
*
|
Align Technology Inc.
|
329,200
|
10,324
|
*,^
Globus Medical Inc.
|
473,790
|
6,055
|
|
Invacare Corp.
|
363,550
|
5,719
|
*
|
Aegerion Pharmaceuticals Inc.
|
165,575
|
4,687
|
*
|
ViroPharma Inc.
|
169,600
|
4,521
|
*
|
NPS Pharmaceuticals Inc.
|
498,625
|
4,408
|
|
Meridian Bioscience Inc.
|
207,915
|
4,356
|
*
|
HeartWare International Inc.
|
46,100
|
4,166
|
|
Trinity Biotech plc ADR
|
229,550
|
3,703
|
*
|
Pharmacyclics Inc.
|
46,500
|
3,224
|
*
|
Tornier NV
|
182,278
|
3,142
|
*
|
HealthSouth Corp.
|
107,600
|
2,567
|
|
Chemed Corp.
|
33,106
|
2,501
|
*
|
Charles River Laboratories International Inc.
|
57,500
|
2,376
|
*
|
Sirona Dental Systems Inc.
|
31,500
|
2,094
|
*
|
PAREXEL International Corp.
|
60,300
|
2,041
|
*
|
Infinity Pharmaceuticals Inc.
|
55,300
|
1,905
|
*
|
Orthofix International NV
|
47,700
|
1,820
|
*
|
ICU Medical Inc.
|
25,600
|
1,547
|
|
PDL BioPharma Inc.
|
214,300
|
1,474
|
*
|
Affymax Inc.
|
78,226
|
1,471
|
*
|
Auxilium Pharmaceuticals Inc.
|
79,300
|
1,459
|
|
Select Medical Holdings Corp.
|
138,900
|
1,353
|
*
|
Array BioPharma Inc.
|
353,145
|
1,331
|
|
Questcor Pharmaceuticals Inc.
|
51,624
|
1,315
|
|
Perrigo Co.
|
12,992
|
1,306
|
*
|
Bio-Reference Labs Inc.
|
46,300
|
1,286
|
*
|
Arena Pharmaceuticals Inc.
|
138,700
|
1,171
|
*
|
Team Health Holdings Inc.
|
32,000
|
1,084
|
*
|
Molina Healthcare Inc.
|
28,350
|
814
|
*
|
LipoScience Inc.
|
69,767
|
733
|
*
|
Genomic Health Inc.
|
24,392
|
684
|
*
|
Anika Therapeutics Inc.
|
55,100
|
585
|
*
|
Celldex Therapeutics Inc.
|
53,400
|
398
|
*
|
Dyax Corp.
|
112,800
|
359
|
*
|
United Therapeutics Corp.
|
5,400
|
291
|
*
|
Medicines Co.
|
8,254
|
247
|
*
|
IDEXX Laboratories Inc.
|
2,500
|
238
|
*
|
Prothena Corp. plc
|
39,294
|
236
|
*
|
Endocyte Inc.
|
14,550
|
146
|
*
|
Agenus Inc.
|
21,925
|
100
|
|
|
|
1,667,080
|
Industrials (16.5%)
|
|
|
|
MSC Industrial Direct Co. Inc. Class A
|
943,372
|
74,640
|
|
|
|
|
|
Kennametal Inc.
|
1,796,395
|
73,670
|
|
Pentair Ltd.
|
1,116,260
|
56,572
|
*
|
Middleby Corp.
|
333,410
|
47,131
|
|
Triumph Group Inc.
|
643,684
|
45,296
|
|
Belden Inc.
|
922,290
|
44,408
|
*
|
Genesee & Wyoming Inc. Class A
|
515,538
|
43,604
|
|
Manpower Inc.
|
831,190
|
42,806
|
|
Chicago Bridge & Iron Co. NV
|
784,951
|
39,883
|
*
|
B/E Aerospace Inc.
|
760,907
|
39,179
|
*
|
IHS Inc. Class A
|
374,220
|
38,507
|
|
Flowserve Corp.
|
228,905
|
35,885
|
*
|
WESCO International Inc.
|
490,850
|
35,798
|
*
|
AerCap Holdings NV
|
2,308,116
|
33,722
|
*,^
Polypore International Inc.
|
819,434
|
31,622
|
*
|
Mobile Mini Inc.
|
1,289,000
|
30,936
|
*
|
EnerSys Inc.
|
726,315
|
29,728
|
|
Waste Connections Inc.
|
824,400
|
29,695
|
*
|
RBC Bearings Inc.
|
559,694
|
29,513
|
*
|
Moog Inc. Class A
|
666,225
|
29,181
|
|
Armstrong World Industries Inc.
|
523,635
|
28,795
|
*
|
Clean Harbors Inc.
|
495,375
|
27,538
|
*
|
Swift Transportation Co.
|
2,012,400
|
27,489
|
*
|
Beacon Roofing Supply Inc.
|
735,919
|
26,596
|
*
|
Huron Consulting Group Inc.
|
698,265
|
23,811
|
|
Towers Watson & Co. Class A
|
376,870
|
23,019
|
|
AMETEK Inc.
|
560,295
|
22,966
|
*
|
Trimas Corp.
|
740,225
|
22,866
|
*
|
Teledyne Technologies Inc.
|
333,567
|
22,769
|
|
Landstar System Inc.
|
396,530
|
22,618
|
|
Con-way Inc.
|
715,140
|
22,441
|
*
|
Old Dominion Freight Line Inc.
|
580,569
|
21,644
|
|
AO Smith Corp.
|
284,995
|
19,744
|
|
Graco Inc.
|
326,620
|
18,683
|
|
Lennox International Inc.
|
316,846
|
18,222
|
*
|
Quanta Services Inc.
|
605,505
|
17,541
|
|
UTi Worldwide Inc.
|
1,152,235
|
17,007
|
*
|
United Rentals Inc.
|
331,026
|
16,757
|
*
|
Avis Budget Group Inc.
|
778,079
|
16,752
|
*
|
Stericycle Inc.
|
174,815
|
16,494
|
*
|
American Woodmark Corp.
|
577,897
|
16,071
|
|
TAL International Group Inc.
|
377,323
|
15,810
|
|
Knight Transportation Inc.
|
988,480
|
15,766
|
|
Kaman Corp.
|
431,327
|
15,674
|
*,^
Solarcity Corp.
|
954,200
|
13,950
|
*
|
CAI International Inc.
|
553,873
|
13,891
|
*
|
Hexcel Corp.
|
508,800
|
13,631
|
*
|
Rush Enterprises Inc. Class A
|
570,526
|
13,499
|
|
Snap-on Inc.
|
153,845
|
12,465
|
|
Acuity Brands Inc.
|
169,770
|
11,680
|
|
Actuant Corp. Class A
|
392,613
|
11,574
|
|
Lindsay Corp.
|
119,432
|
11,112
|
|
Nordson Corp.
|
141,121
|
9,543
|
*
|
II-VI Inc.
|
482,100
|
8,205
|
*
|
MasTec Inc.
|
262,428
|
7,427
|
*
|
Team Inc.
|
168,583
|
7,386
|
*
|
Exponent Inc.
|
147,522
|
7,212
|
*
|
DigitalGlobe Inc.
|
253,200
|
7,082
|
|
|
|
|
|
Primoris Services Corp.
|
368,300
|
7,064
|
|
Herman Miller Inc.
|
281,712
|
6,958
|
*
|
Greenbrier Cos. Inc.
|
337,800
|
6,732
|
|
Woodward Inc.
|
167,114
|
6,419
|
*
|
Dycom Industries Inc.
|
294,507
|
6,179
|
*
|
Thermon Group Holdings Inc.
|
188,831
|
4,570
|
*
|
Advisory Board Co.
|
72,100
|
3,910
|
*
|
Copart Inc.
|
95,200
|
3,419
|
|
Lincoln Electric Holdings Inc.
|
62,500
|
3,371
|
|
Equifax Inc.
|
52,400
|
3,076
|
*
|
Hertz Global Holdings Inc.
|
160,100
|
2,927
|
*
|
Alaska Air Group Inc.
|
61,424
|
2,833
|
*
|
USG Corp.
|
93,100
|
2,736
|
|
Dun & Bradstreet Corp.
|
32,000
|
2,609
|
|
Deluxe Corp.
|
68,509
|
2,520
|
*
|
US Airways Group Inc.
|
168,200
|
2,402
|
*
|
Atlas Air Worldwide Holdings Inc.
|
50,247
|
2,266
|
|
Hubbell Inc. Class B
|
24,500
|
2,231
|
|
Steelcase Inc. Class A
|
156,479
|
2,133
|
|
Applied Industrial Technologies Inc.
|
47,797
|
2,101
|
|
ITT Corp.
|
81,100
|
2,083
|
*
|
JetBlue Airways Corp.
|
350,000
|
2,034
|
|
Mueller Water Products Inc. Class A
|
342,800
|
2,026
|
*
|
Taser International Inc.
|
213,200
|
1,784
|
|
Standex International Corp.
|
26,200
|
1,484
|
|
Cintas Corp.
|
34,600
|
1,462
|
|
Copa Holdings SA Class A
|
11,900
|
1,304
|
|
Mine Safety Appliances Co.
|
26,700
|
1,234
|
|
Generac Holdings Inc.
|
26,900
|
1,000
|
*
|
DXP Enterprises Inc.
|
16,800
|
956
|
|
H&E Equipment Services Inc.
|
44,100
|
850
|
|
Mueller Industries Inc.
|
13,700
|
731
|
|
Robert Half International Inc.
|
18,800
|
663
|
|
Argan Inc.
|
24,249
|
456
|
*
|
Republic Airways Holdings Inc.
|
54,100
|
454
|
*
|
WABCO Holdings Inc.
|
6,000
|
376
|
|
Covanta Holding Corp.
|
13,600
|
268
|
|
TransDigm Group Inc.
|
1,400
|
190
|
|
Textainer Group Holdings Ltd.
|
4,474
|
185
|
*
|
PGT Inc.
|
22,600
|
111
|
*
|
Nortek Inc.
|
103
|
7
|
|
|
|
1,573,620
|
Information Technology (23.1%)
|
|
|
*
|
Alliance Data Systems Corp.
|
668,293
|
105,323
|
*,3
TiVo Inc.
|
6,706,360
|
89,463
|
*
|
Cadence Design Systems Inc.
|
5,171,360
|
72,037
|
*
|
Sapient Corp.
|
5,513,687
|
66,771
|
*
|
Aruba Networks Inc.
|
2,846,659
|
65,587
|
*
|
Ultimate Software Group Inc.
|
580,399
|
58,934
|
*
|
Microsemi Corp.
|
2,449,390
|
51,241
|
*
|
VeriFone Systems Inc.
|
1,416,650
|
49,186
|
*
|
Teradyne Inc.
|
2,806,720
|
45,357
|
*
|
PTC Inc.
|
1,935,016
|
44,854
|
*
|
Trimble Navigation Ltd.
|
696,220
|
43,514
|
*
|
F5 Networks Inc.
|
409,273
|
42,925
|
*
|
Silicon Laboratories Inc.
|
853,345
|
37,240
|
*
|
Finisar Corp.
|
2,392,885
|
37,090
|
|
|
|
Convergys Corp.
|
2,174,885
|
37,017
|
FEI Co.
|
564,420
|
34,407
|
* MICROS Systems Inc.
|
724,512
|
33,349
|
* ValueClick Inc.
|
1,622,685
|
33,216
|
* NCR Corp.
|
1,180,874
|
32,793
|
j2 Global Inc.
|
1,009,461
|
32,121
|
* Euronet Worldwide Inc.
|
1,304,030
|
31,910
|
* Riverbed Technology Inc.
|
1,636,620
|
31,750
|
* Rovi Corp.
|
1,826,020
|
31,572
|
* QLIK Technologies Inc.
|
1,414,300
|
31,412
|
IPG Photonics Corp.
|
441,700
|
28,923
|
Cypress Semiconductor Corp.
|
2,663,040
|
27,349
|
* Dealertrack Technologies Inc.
|
865,637
|
27,337
|
* Informatica Corp.
|
724,330
|
26,807
|
* ON Semiconductor Corp.
|
3,397,540
|
26,671
|
IAC/InterActiveCorp
|
636,335
|
26,249
|
* RADWARE Ltd.
|
710,541
|
25,842
|
* JDS Uniphase Corp.
|
1,770,920
|
25,696
|
* First Solar Inc.
|
909,806
|
25,638
|
* Red Hat Inc.
|
450,400
|
25,024
|
MKS Instruments Inc.
|
890,000
|
24,742
|
FactSet Research Systems Inc.
|
252,400
|
23,352
|
* NICE Systems Ltd. ADR
|
631,945
|
23,312
|
* Acxiom Corp.
|
1,275,000
|
22,606
|
* Nuance Communications Inc.
|
882,280
|
21,219
|
* Concur Technologies Inc.
|
316,435
|
21,169
|
* Atmel Corp.
|
3,088,985
|
20,696
|
* BroadSoft Inc.
|
602,020
|
20,451
|
* Bankrate Inc.
|
1,644,830
|
20,347
|
* Salesforce.com Inc.
|
110,140
|
18,958
|
* Imperva Inc.
|
538,200
|
18,460
|
Heartland Payment Systems Inc.
|
563,919
|
17,910
|
* Sourcefire Inc.
|
412,400
|
17,568
|
* WEX Inc.
|
223,000
|
17,530
|
* Global Cash Access Holdings Inc.
|
2,090,360
|
15,782
|
Avago Technologies Ltd. Class A
|
422,630
|
15,117
|
* Infoblox Inc.
|
791,200
|
14,914
|
* Acme Packet Inc.
|
610,800
|
14,763
|
* Liquidity Services Inc.
|
462,075
|
14,726
|
* Akamai Technologies Inc.
|
357,206
|
14,542
|
* Ciena Corp.
|
925,320
|
14,491
|
Syntel Inc.
|
244,262
|
14,238
|
* Manhattan Associates Inc.
|
199,615
|
13,676
|
Fair Isaac Corp.
|
300,310
|
13,535
|
* CommVault Systems Inc.
|
174,867
|
13,418
|
* FleetCor Technologies Inc.
|
222,594
|
13,320
|
* Hittite Microwave Corp.
|
210,069
|
12,894
|
* Nanometrics Inc.
|
819,392
|
12,791
|
* NETGEAR Inc.
|
358,220
|
12,577
|
* LinkedIn Corp. Class A
|
101,100
|
12,515
|
MercadoLibre Inc.
|
141,091
|
12,472
|
* WNS Holdings Ltd. ADR
|
976,757
|
12,434
|
* Ultratech Inc.
|
305,129
|
12,428
|
* SolarWinds Inc.
|
226,391
|
12,320
|
* Ixia
|
646,411
|
12,275
|
* Entropic Communications Inc.
|
2,324,900
|
12,182
|
National Instruments Corp.
|
423,739
|
12,034
|
|
|
|
|
*
|
Super Micro Computer Inc.
|
945,402
|
11,704
|
*
|
Mentor Graphics Corp.
|
679,480
|
11,639
|
*
|
Aspen Technology Inc.
|
344,555
|
10,543
|
*
|
SPS Commerce Inc.
|
270,900
|
10,541
|
*
|
OSI Systems Inc.
|
184,792
|
10,064
|
*
|
Semtech Corp.
|
286,660
|
8,646
|
*
|
CACI International Inc. Class A
|
159,200
|
8,538
|
*
|
Cardtronics Inc.
|
328,508
|
8,505
|
*
|
Tyler Technologies Inc.
|
148,900
|
8,048
|
*,^
Ruckus Wireless Inc.
|
291,300
|
6,863
|
|
Power Integrations Inc.
|
178,160
|
6,663
|
*
|
Interactive Intelligence Group Inc.
|
155,257
|
6,244
|
^
|
Ubiquiti Networks Inc.
|
483,400
|
6,226
|
*
|
Diodes Inc.
|
317,775
|
6,044
|
|
Littelfuse Inc.
|
90,000
|
5,761
|
*
|
Progress Software Corp.
|
196,800
|
4,619
|
*
|
PROS Holdings Inc.
|
200,000
|
4,412
|
|
Monolithic Power Systems Inc.
|
180,000
|
4,194
|
*
|
Dropbox Private Placement
|
445,203
|
4,060
|
*
|
Silicon Motion Technology Corp. ADR
|
220,100
|
3,550
|
*
|
Gartner Inc.
|
66,938
|
3,448
|
*
|
LSI Corp.
|
422,700
|
2,976
|
*
|
Cavium Inc.
|
87,300
|
2,919
|
|
MAXIMUS Inc.
|
41,324
|
2,834
|
|
Total System Services Inc.
|
120,800
|
2,809
|
*
|
Demandware Inc.
|
82,800
|
2,632
|
|
Lender Processing Services Inc.
|
99,300
|
2,387
|
|
Monotype Imaging Holdings Inc.
|
130,000
|
2,350
|
|
Genpact Ltd.
|
138,700
|
2,323
|
|
Anixter International Inc.
|
33,931
|
2,283
|
|
DST Systems Inc.
|
33,496
|
2,242
|
*
|
Integrated Device Technology Inc.
|
305,175
|
2,206
|
*
|
Unisys Corp.
|
95,340
|
2,117
|
|
AOL Inc.
|
67,100
|
2,057
|
*
|
Arris Group Inc.
|
122,900
|
2,030
|
*
|
Vantiv Inc. Class A
|
95,800
|
1,995
|
*
|
Plexus Corp.
|
65,500
|
1,672
|
|
Jack Henry & Associates Inc.
|
38,300
|
1,589
|
*
|
CalAmp Corp.
|
180,461
|
1,545
|
|
Intersil Corp. Class A
|
175,495
|
1,518
|
*
|
Freescale Semiconductor Ltd.
|
100,400
|
1,451
|
|
Booz Allen Hamilton Holding Corp.
|
103,141
|
1,430
|
|
MTS Systems Corp.
|
20,500
|
1,165
|
*
|
Nova Measuring Instruments Ltd.
|
120,000
|
1,080
|
*
|
RF Micro Devices Inc.
|
197,030
|
985
|
*
|
MEMC Electronic Materials Inc.
|
231,900
|
965
|
*
|
Silicon Graphics International Corp.
|
52,900
|
769
|
*
|
Websense Inc.
|
51,251
|
750
|
*
|
Exar Corp.
|
71,200
|
747
|
*
|
Cray Inc.
|
35,000
|
650
|
*
|
Silicon Image Inc.
|
99,100
|
481
|
*
|
CSG Systems International Inc.
|
24,000
|
452
|
*
|
ATMI Inc.
|
17,200
|
351
|
*
|
Extreme Networks
|
90,400
|
334
|
|
Diebold Inc.
|
10,700
|
315
|
*
|
MaxLinear Inc.
|
31,600
|
164
|
|
|
|
2,207,254
|
|
|
|
|
Materials (5.5%)
|
|
|
*
|
WR Grace & Co.
|
560,760
|
40,263
|
*
|
Graphic Packaging Holding Co.
|
5,597,464
|
39,238
|
|
Smurfit Kappa Group plc (London Shares)
|
2,721,684
|
37,685
|
|
KapStone Paper and Packaging Corp.
|
1,500,540
|
36,013
|
|
Ashland Inc.
|
437,590
|
34,355
|
|
PolyOne Corp.
|
1,517,260
|
33,137
|
|
Albemarle Corp.
|
534,235
|
32,754
|
|
Minerals Technologies Inc.
|
759,060
|
31,402
|
|
Methanex Corp.
|
874,190
|
31,344
|
|
Ball Corp.
|
642,185
|
28,590
|
|
FMC Corp.
|
423,170
|
26,012
|
|
Schweitzer-Mauduit International Inc.
|
587,600
|
23,939
|
|
Silgan Holdings Inc.
|
541,370
|
23,225
|
|
Carpenter Technology Corp.
|
413,430
|
21,635
|
*
|
Ferro Corp.
|
3,803,855
|
19,400
|
|
Allegheny Technologies Inc.
|
527,200
|
16,686
|
|
Sensient Technologies Corp.
|
256,912
|
9,788
|
|
Globe Specialty Metals Inc.
|
601,235
|
9,115
|
*
|
LSB Industries Inc.
|
162,194
|
6,715
|
*
|
OM Group Inc.
|
192,700
|
5,322
|
|
Valspar Corp.
|
57,200
|
3,791
|
|
Packaging Corp. of America
|
68,800
|
2,644
|
^
|
Axiall Corp.
|
46,500
|
2,612
|
|
Walter Energy Inc.
|
68,900
|
2,587
|
|
NewMarket Corp.
|
9,773
|
2,494
|
|
Westlake Chemical Corp.
|
26,000
|
2,388
|
|
Myers Industries Inc.
|
57,700
|
853
|
*
|
OMNOVA Solutions Inc.
|
63,400
|
519
|
*
|
Owens-Illinois Inc.
|
13,200
|
314
|
*
|
Chemtura Corp.
|
6,700
|
159
|
|
|
|
524,979
|
Telecommunication Services (1.2%)
|
|
|
*
|
tw telecom inc Class A
|
1,135,325
|
31,369
|
*
|
SBA Communications Corp. Class A
|
445,045
|
31,002
|
*
|
Vonage Holdings Corp.
|
10,005,390
|
26,114
|
|
Cogent Communications Group Inc.
|
932,599
|
23,101
|
*,^
magicJack VocalTec Ltd.
|
111,400
|
1,465
|
|
Primus Telecommunications Group Inc.
|
24,100
|
257
|
*
|
Fairpoint Communications Inc.
|
20,700
|
192
|
|
|
|
113,500
|
Utilities (0.0%)
|
|
|
|
American States Water Co.
|
16,200
|
819
|
|
Total Common Stocks (Cost $7,079,572)
|
|
9,380,262
|
|
|
|
|
|
|
Coupon
|
|
|
|
Temporary Cash Investments (3.4%)
1
|
|
|
|
|
Money Market Fund (2.9%)
|
|
|
|
|
4,5
Vanguard Market Liquidity Fund
|
0.143%
|
|
278,427,724
|
278,428
|
|
|
|
|
Face
|
|
|
|
Maturity
|
Amount
|
|
|
|
Date
|
($000)
|
|
Repurchase Agreement (0.4%)
|
|
|
|
|
Deutsche Bank Securities, Inc.
|
|
|
|
|
(Dated 1/31/13, Repurchase Value
|
|
|
|
|
$31,000,000, collateralized by Government
|
|
|
|
|
National Mortgage Assn. 3.000%-6.000%,
|
|
|
|
|
12/15/38-12/15/42)
|
0.170%
|
2/1/13
|
31,000
|
31,000
|
|
U.S. Government and Agency Obligations (0.1%)
|
|
|
|
|
6,7
Fannie Mae Discount Notes
|
0.110%
|
3/13/13
|
200,000
|
200
|
6,7
Fannie Mae Discount Notes
|
0.095-0.097%
|
3/27/13
|
11,000,000
|
10,997
|
|
|
|
|
11,197
|
Total Temporary Cash Investments (Cost $320,626)
|
|
|
320,625
|
Total Investments (101.5%) (Cost $7,400,198)
|
|
|
|
9,700,887
|
Other Assets and Liabilities-Net (-1.5%)
5
|
|
|
|
(140,914)
|
Net Assets (100%)
|
|
|
|
9,559,973
|
* Non-income-producing security.
^ Part of security position is on loan to broker-dealers. The total value of securities on loan is $113,492,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After
giving effect to futures investments, the fund's effective common stock and temporary cash investment positions
represent 98.8% and 2.7%, respectively, of net assets.
2 Considered an affiliated company of the fund as the issuer is another member of The Vanguard Group.
3 Considered an affiliated company of the fund as the fund owns more than 5% of the outstanding voting securities
of such company.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by
Vanguard. Rate shown is the 7-day yield.
5 Includes $117,027,000 of collateral received for securities on loan.
6 The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations
have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as
needed to maintain a positive net worth, in exchange for senior preferred stock.
7 Securities with a value of $3,399,000 have been segregated as initial margin for open futures contracts.
ADR—American Depositary Receipt.
A. 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 at their fair values calculated according to procedures adopted by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund's pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard
Explorer Fund
Market Liquidity Fund are valued at that fund’s net asset value. Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.
B. Foreign Currency:
Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
C. Repurchase Agreements:
The fund may enter into repurchase agreements. Securities pledged as collateral for repurchase agreements are held by a custodian bank until the agreements mature. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. In the event of default or bankruptcy by the other party to the agreement, the fund may sell or retain the collateral; however, such action may be subject to legal proceedings.
D.
Various inputs may be used to determine the value of the fund's investments. 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).
The following table summarizes the market value of the fund's investments as of January 31, 2013, based on the inputs used to value them:
|
|
|
|
|
Level 1
|
Level 2
|
Level 3
|
Investments
|
($000)
|
($000)
|
($000)
|
Common Stocks
|
9,338,517
|
37,685
|
4,060
|
Temporary Cash Investments
|
278,428
|
42,197
|
—
|
Futures Contracts—Assets
1
|
560
|
—
|
—
|
Futures Contracts—Liabilities
1
|
(152)
|
—
|
—
|
Total
|
9,617,353
|
79,882
|
4,060
|
1 Represents variation margin on the last day of the reporting period.
|
E. Futures Contracts:
The fund uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. 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.
Explorer Fund
Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded in the Schedule of Investments as an asset (liability).
At January 31, 2013, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:
|
|
|
|
|
|
|
|
($000)
|
|
|
|
Aggregate
|
|
|
|
Number of
|
Settlement
|
Unrealized
|
|
|
Long (Short)
|
Value
|
Appreciation
|
Futures Contracts
|
Expiration
|
Contracts
|
Long (Short)
|
(Depreciation)
|
E-mini Russell 2000 Index
|
March 2013
|
379
|
34,114
|
1,997
|
E-mini S&P MidCap 400 Index
|
March 2013
|
235
|
25,643
|
1,594
|
Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized
gain (loss) for tax purposes.
F.
Certain of the fund's investments are in companies that are considered to be affiliated companies
of the fund because the fund owns more than 5% of the outstanding voting securities of the company.
Transactions during the period in securities of these companies were as follows:
|
|
|
|
|
|
|
|
Current Period Transactions
|
|
|
|
|
Proceeds
|
|
|
|
Oct. 31, 2012
|
|
from
|
|
Jan. 31, 2013
|
|
Market
|
Purchases
|
Securities
|
Dividend
|
Market
|
|
Value
|
at Cost
|
Sold
|
Income
|
Value
|
|
($000)
|
($000)
|
($000)
|
($000)
|
($000)
|
eHealth Inc.
|
32,368
|
—
|
776
|
—
|
35,581
|
HFF Inc. Class A
|
30,986
|
785
|
3,888
|
3,467
|
35,824
|
Kindred Healthcare Inc.
|
27,981
|
—
|
513
|
—
|
30,243
|
TiVo Inc.
|
63,219
|
6,409
|
937
|
—
|
89,463
|
|
154,554
|
|
|
|
191,111
|
G.
At January 31, 2013, the cost of investment securities for tax purposes was $7,400,198,000. Net unrealized appreciation of investment securities for tax purposes was $2,300,689,000, consisting of unrealized gains of $2,584,936,000 on securities that had risen in value since their purchase and $284,247,000 in unrealized losses on securities that had fallen in value since their purchase.
Item 2: Controls and Procedures
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. During the last fiscal quarter, there was no significant change in the Registrant’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3: Exhibits
(a) Certifications
|
|
|
VANGUARD EXPLORER FUND
|
|
By:
|
/s/ F. WILLIAM MCNABB III*
|
|
F. WILLIAM MCNABB III
|
|
CHIEF EXECUTIVE OFFICER
|
|
Date: March 20, 2013
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
VANGUARD EXPLORER FUND
|
By:
|
/s/ F. WILLIAM MCNABB III*
|
|
F. WILLIAM MCNABB III
|
|
CHIEF EXECUTIVE OFFICER
|
Date: March 20, 2013
|
|
|
VANGUARD EXPLORER FUND
|
By:
|
/s/ THOMAS J. HIGGINS*
|
|
THOMAS J. HIGGINS
|
|
CHIEF FINANCIAL OFFICER
|
Date: March 20, 2013
|
|
* By:/s/ Heidi Stam
Heidi Stam, pursuant to a Power of Attorney filed on
March 27, 2012 see file Number 2-11444
,
Incorporated by Reference.
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