| Vanguard Real Estate II Index Fund | 14.41 | 445,588,339 |
| Welltower(WELL.US) | 8.46 | 26,540,492 |
| Prologis(PLD.US) | 6.97 | 35,464,900 |
| Equinix(EQIX.US) | 5.20 | 3,751,939 |
| American Tower(AMT.US) | 4.18 | 17,731,284 |
| Simon Property(SPG.US) | 3.85 | 12,357,917 |
| Digital Realty Trust(DLR.US) | 3.35 | 13,072,172 |
| Realty Income(O.US) | 3.06 | 35,203,207 |
| Public Storage(PSA.US) | 2.81 | 6,379,972 |
| Ventas(VTR.US) | 2.30 | 18,088,066 |
| CBRE Group(CBRE.US) | 2.24 | 11,228,801 |
| Iron Mountain(IRM.US) | 1.88 | 11,317,007 |
| Crown Castle(CCI.US) | 1.72 | 16,589,444 |
| Extra Space(EXR.US) | 1.62 | 8,034,585 |
| VICI Properties(VICI.US) | 1.36 | 38,098,723 |
| Avalonbay Communities(AVB.US) | 1.34 | 5,292,197 |
| Equity Residential(EQR.US) | 1.16 | 12,828,345 |
| SBA Communications(SBAC.US) | 0.99 | 4,024,518 |
| Essex Property Trust, Inc.(ESS.US) | 0.95 | 2,452,900 |
| Weyerhaeuser(WY.US) | 0.93 | 27,430,614 |
| Kimco Realty(KIM.US) | 0.89 | 25,643,527 |
| Host Hotels & Resorts(HST.US) | 0.89 | 26,166,120 |
| Jones Lang LaSalle(JLL.US) | 0.86 | 1,782,396 |
| Invitation Homes(INVH.US) | 0.83 | 20,524,183 |
| W. P. Carey(WPC.US) | 0.83 | 8,342,383 |
| Mid-America Apartment(MAA.US) | 0.80 | 4,426,191 |
| Sun Communities(SUI.US) | 0.79 | 4,687,965 |
| Healthpeak Properties(DOC.US) | 0.79 | 26,449,738 |
| Omega Healthcare Investors Inc.(OHI.US) | 0.77 | 11,244,394 |
| Lamar Advertising(LAMR.US) | 0.71 | 3,271,346 |
| Regency Centers(REG.US) | 0.68 | 6,268,485 |
| Equity Lifestyle Properties, Inc(ELS.US) | 0.62 | 7,008,666 |
| Gaming and Leisure Properties, I(GLPI.US) | 0.62 | 10,235,839 |
| CoStar Group(CSGP.US) | 0.62 | 15,895,272 |
| EastGroup Properties(EGP.US) | 0.58 | 2,045,006 |
| UDR(UDR.US) | 0.58 | 11,158,100 |
| Camden Property Trust(CPT.US) | 0.56 | 3,685,283 |
| American Healthcare REIT(AHR.US) | 0.55 | 7,299,311 |
| American Homes 4 Rent(AMH.US) | 0.55 | 12,088,685 |
| BXP(BXP.US) | 0.54 | 5,657,998 |
| Federal Realty Investment Trust(FRT.US) | 0.50 | 2,953,968 |
| Agree Realty Corporation(ADC.US) | 0.48 | 4,569,068 |
| Brixmor Property Group Inc.(BRX.US) | 0.48 | 11,089,290 |
| CareTrust REIT(CTRE.US) | 0.48 | 8,492,619 |
| CubeSmart(CUBE.US) | 0.48 | 8,499,307 |
| NNN REIT(NNN.US) | 0.47 | 7,237,865 |
| First Industrial Realty Trust, I(FR.US) | 0.45 | 5,043,386 |
| Rexford Industrial Realty, Inc.(REXR.US) | 0.44 | 8,541,449 |
| Ryman Hospitality Properties(RHP.US) | 0.41 | 2,280,836 |
| Alexandria Real Estate Equity(ARE.US) | 0.41 | 5,927,663 |
| Compass(COMP.US) | 0.40 | 25,900,713 |
| Terreno Realty(TRNO.US) | 0.39 | 4,042,308 |
| STAG Industrial Inc.(STAG.US) | 0.38 | 7,272,739 |
| Healthcare Realty Trust(HR.US) | 0.36 | 12,607,863 |
| Essential Properties Realty Trus(EPRT.US) | 0.34 | 8,001,642 |
| Macerich(MAC.US) | 0.34 | 9,764,683 |
| VORNADO REALTY TRUST(VNO.US) | 0.33 | 6,097,125 |
| Rayonier(RYN.US) | 0.31 | 10,350,584 |
| Kite Realty Group Trust(KRG.US) | 0.30 | 7,724,888 |
| Sabra Health Care REIT(SBRA.US) | 0.28 | 9,592,677 |
| Phillips Edison(PECO.US) | 0.28 | 4,792,313 |
| Zillow Group - Class C Capital S(Z.US) | 0.27 | 5,843,031 |
| Cousins Properties(CUZ.US) | 0.27 | 6,321,091 |
| EPR Properties(EPR.US) | 0.25 | 2,910,519 |
| OUTFRONT Media(OUT.US) | 0.25 | 5,860,509 |
| Tanger(SKT.US) | 0.24 | 4,357,380 |
| Millrose Properties(MRP.US) | 0.22 | 5,865,740 |
| COPT Defense Properties(CDP.US) | 0.22 | 4,313,436 |
| Americold Realty Trust(COLD.US) | 0.21 | 10,838,011 |
| Broadstone Net Lease(BNL.US) | 0.21 | 7,289,035 |
| Kilroy Realty Corporation(KRC.US) | 0.21 | 4,057,532 |
| Independence Realty Trust(IRT.US) | 0.20 | 8,965,111 |
| Highwoods Properties(HIW.US) | 0.19 | 4,194,771 |
| Apple Hospitality REIT(APLE.US) | 0.19 | 8,517,507 |
| SL Green Realty(SLG.US) | 0.19 | 2,702,321 |
| National Health Investors Inc.(NHI.US) | 0.18 | 1,751,405 |
| LXP Industrial Trust(LXP.US) | 0.18 | 2,247,591 |
| Opendoor Technologies(OPEN.US) | 0.18 | 34,635,550 |
| Cushman & Wakefield(CWK.US) | 0.16 | 8,819,939 |
| Curbline(CURB.US) | 0.15 | 3,513,329 |
| Acadia Realty Trust(AKR.US) | 0.15 | 4,986,516 |
| Four Corners Property Trust(FCPT.US) | 0.15 | 4,175,280 |
| Park Hotels & Resorts(PK.US) | 0.15 | 7,465,455 |
| Lineage(LINE.US) | 0.15 | 2,591,701 |
| Urban Edge Properties(UE.US) | 0.15 | 4,792,688 |
| DiamondRock Hospitality(DRH.US) | 0.14 | 7,750,042 |
| InvenTrust Properties(IVT.US) | 0.14 | 2,956,085 |
| St. Joe(JOE.US) | 0.12 | 1,422,479 |
| Newmark Group(NMRK.US) | 0.12 | 5,897,217 |
| NetSTREIT(NTST.US) | 0.11 | 3,699,604 |
| LandBridge(LB.US) | 0.11 | 1,058,935 |
| Pebblebrook Hotel Trust(PEB.US) | 0.11 | 4,314,197 |
| Sunstone Hotel Investors(SHO.US) | 0.11 | 6,835,343 |
| SmartStop Self Storage REIT(SMA.US) | 0.10 | 2,105,763 |
| Xenia Hotels & Resorts(XHR.US) | 0.10 | 3,509,092 |
| LTC Properties(LTC.US) | 0.10 | 1,883,381 |
| Getty Realty(GTY.US) | 0.10 | 2,161,720 |
| Howard Hughes(HHH.US) | 0.10 | 1,190,990 |
| Douglas Emmett, Inc.(DEI.US) | 0.10 | 6,050,859 |
| Diversified Healthcare Trust(DHC.US) | 0.09 | 7,598,004 |
| Innovative Industrial Properties(IIPR.US) | 0.09 | 1,070,137 |
| Global Net Lease(GNL.US) | 0.09 | 7,332,101 |
| Medical Properties Trust(MPT.US) | 0.09 | 14,947,704 |
| RLJ Lodging Trust(RLJ.US) | 0.08 | 4,624,936 |
| Zillow Group(ZG.US) | 0.07 | 1,485,061 |
| UMH Properties(UMH.US) | 0.06 | 3,072,890 |
| Piedmont Realty Trust(PDM.US) | 0.06 | 4,756,474 |
| Easterly Government Properties(DEA.US) | 0.06 | 1,676,888 |
| American Assets Trust Inc.(AAT.US) | 0.06 | 1,868,370 |
| CBL(CBL.US) | 0.05 | 589,282 |
| Centerspace(CSR.US) | 0.05 | 638,745 |
| Service Properties Trust(SVC.US) | 0.05 | 4,557,456 |
| Safehold(SAFE.US) | 0.04 | 1,775,455 |
| Marcus & Millichap(MMI.US) | 0.04 | 869,122 |
| CTO Realty Growth(CTO.US) | 0.04 | 1,175,914 |
| Empire State Realty Trust, Inc.(ESRT.US) | 0.04 | 5,347,173 |
| Hudson Pacific Properties Inc.(HPP.US) | 0.04 | 2,010,412 |
| Summit Hotel Properties(INN.US) | 0.04 | 3,933,478 |
| JBG SMITH Properties(JBGS.US) | 0.04 | 2,244,627 |
| Gladstone Commercial Corporation(GOOD.US) | 0.03 | 1,841,254 |
| Forestar Group(FOR.US) | 0.03 | 726,381 |
| Community Healthcare Trust(CHCT.US) | 0.03 | 1,031,508 |
| Chatham Lodging Trust(CLDT.US) | 0.03 | 1,698,141 |
| Brandywine Realty Trust(BDN.US) | 0.03 | 6,278,809 |
| Alexander's Inc.(ALX.US) | 0.03 | 82,568 |
| Ah Realty Trust(AHRT.US) | 0.03 | 2,971,721 |
| NexPoint Residential Trust(NXRT.US) | 0.03 | 776,144 |
| Universal Health Realty Income T(UHT.US) | 0.03 | 487,827 |
| Tejon Ranch(TRC.US) | 0.02 | 770,074 |
| Chiron Real Estate(XRN.US) | 0.02 | 478,892 |
| Gladstone Land(LAND.US) | 0.02 | 1,516,872 |
| RMR Group(RMR.US) | 0.02 | 594,436 |
| One Liberty Properties, Inc.(OLP.US) | 0.02 | 602,926 |
| Apartment Investment and Managem(AIV.US) | 0.02 | 4,928,853 |
| AGNT(AGNT.US) | 0.02 | 3,068,042 |
| Saul Centers(BFS.US) | 0.02 | 511,907 |
| Farmland Partners(FPI.US) | 0.02 | 1,533,019 |
| Industrial Logistics Properties(ILPT.US) | 0.02 | 2,090,123 |
| Seaport Entertainment(SEG.US) | 0.01 | 279,552 |
| SITE Centers(SITC.US) | 0.01 | 1,797,794 |
