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Annual Report - Vanguard

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Annual Report | October 31, 2014
Vanguard Total International
Stock Index Fund
The mission continues
On May 1, 1975, Vanguard began operations, a fledgling company based
on the simple but revolutionary idea that a mutual fund company should
be managed solely in the interest of its investors.
Four decades later, that revolutionary spirit continues to animate the
enterprise. Vanguard remains on a mission to give investors the best
chance of investment success.
As we mark our 40th anniversary, we thank you for entrusting your assets
to Vanguard and giving us the opportunity to help you reach your financial
goals in the decades to come.
Contents
Your Fund’s Total Returns. . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Chairman’s Letter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Fund Profile. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Performance Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Financial Statements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Your Fund’s After-Tax Returns. . . . . . . . . . . . . . . . . . . . . . . 38
About Your Fund’s Expenses. . . . . . . . . . . . . . . . . . . . . . . . 39
Glossary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice.
Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the
risks of investing in your fund are spelled out in the prospectus.
See the Glossary for definitions of investment terms used in this report.
About the cover: Since our founding, Vanguard has drawn inspiration from the enterprise and valor demonstrated by British
naval hero Horatio Nelson and his command at the Battle of the Nile in 1798. The photograph displays a replica of a merchant
ship from the same era as Nelson’s flagship, the HMS Vanguard.
Your Fund’s Total Returns
Fiscal Year Ended October 31, 2014
Total
Returns
Vanguard Total International Stock Index Fund
Investor Shares
1.00%
Admiralв„ў Shares
1.09
Institutional Shares
1.12
Institutional Plus Shares
1.14
ETF Shares
Market Price
1.40
Net Asset Value
1.10
FTSE Global All Cap ex US Index
0.37
International Funds Average
0.04
International Funds Average: Derived from data provided by Lipper, a Thomson Reuters Company.
Admiral Shares carry lower expenses and are available to investors who meet certain account-balance requirements. Institutional Shares and
Institutional Plus Shares are available to certain institutional investors who meet specific administrative, service, and account-size criteria.
The Vanguard ETFВ® Shares shown are traded on the Nasdaq exchange and are available only through brokers. The table provides ETF returns
based on both the Nasdaq market price and the net asset value for a share. U.S. Pat. Nos. 6,879,964; 7,337,138; 7,720,749; 7,925,573;
8,090,646; and 8,417,623.
For the ETF Shares, the market price is determined by the midpoint of the bid-offer spread as of the closing time of the New York Stock
Exchange (generally 4 p.m., Eastern time). The net asset value is also determined as of the NYSE closing time. For more information about
how the ETF Shares' market prices have compared with their net asset value, visit vanguard.com, select your ETF, and then select the Price
and Performance tab. The ETF premium/discount analysis there shows the percentages of days on which the ETF Shares' market price was
above or below the NAV.
Your Fund’s Performance at a Glance
October 31, 2013, Through October 31, 2014
Distributions Per Share
Starting
Share
Price
Ending
Share
Price
Income
Dividends
Capital
Gains
Investor Shares
$16.67
$16.31
$0.534
$0.000
Admiral Shares
27.89
27.29
0.916
0.000
Institutional Shares
111.51
109.12
3.682
0.000
Institutional Plus Shares
111.53
109.14
3.706
0.000
51.86
50.75
1.703
0.000
Vanguard Total International Stock Index Fund
ETF Shares
1
Dear Shareholder,
For the fiscal year ended October 31,
2014, international stocks significantly
lagged their U.S. counterparts. Returns
from foreign markets were mixed, with
stocks of emerging markets countries,
as a whole, outperforming stocks of
developed countries.
Chairman’s Letter
In this investment environment, all share
classes of Vanguard Total International
Stock Index Fund returned about 1%.
Because of temporary price differences
arising from fair-value pricing policies
(see the box on page 6), the fund’s return
diverged from that of its target index. The
fund outperformed the average return of
its peers.
From the standpoint of U.S.-based
investors, currency had a negative effect
on the returns of international stocks as
the dollar’s relative value generally rose
during the period. (For more on currency
effects and international diversification,
see the text box on page 7.)
If you own shares of this fund in a taxable
account, you may wish to review the table
of after-tax returns that appears later in
this report.
Also, please note that the conversion
of the fund’s Signal® Shares to Admiral
Shares, which was announced last
year, was completed as planned in
October 2014.
2
Their smooth ride turned jagged,
but U.S. stocks ended higher
The global stock market’s occasional
zigs and zags over the 12 months were
punctuated by a roller-coaster ride in
October that left international markets
several steps behind the broad U.S.
market for the fiscal year. Emerging
markets advanced modestly, while the
developed European and Pacific markets
finished in negative territory.
In contrast, the broad U.S. stock market
returned about 16%. Impressive corporate
earnings and various global stimulus
measures generally supported stocks
against a bleaker backdrop that included
tensions in the Middle East and Ukraine.
After falling in the first two weeks of
October, then rebounding, several major
U.S. indexes finished at record highs.
Reflecting confidence in the U.S. economy,
the Federal Reserve announced in late
October that it was ending its stimulative
bond-buying program as anticipated.
U.S. bonds posted positive returns
as already low yields declined
International bond markets (as measured
by the Barclays Global Aggregate Index
ex USD) slid in September and October
en route to a –2.53% return for the 12
months, a modestly steeper decline than
in the 12 months ended October 2013.
More than reversing its year-ago loss, the
broad U.S. taxable bond market returned
4.14%. Bond prices, which backtracked
Market Barometer
Average Annual Total Returns
Periods Ended October 31, 2014
One
Year
Three
Years
Five
Years
Stocks
Russell 1000 Index (Large-caps)
16.78%
19.90%
16.98%
Russell 2000 Index (Small-caps)
8.06
18.18
17.39
16.07
19.77
17.01
0.45
8.07
6.38
Barclays U.S. Aggregate Bond Index (Broad taxable market)
4.14%
2.73%
4.22%
Barclays Municipal Bond Index (Broad tax-exempt market)
7.82
4.93
5.26
Citigroup Three-Month U.S. Treasury Bill Index
0.04
0.04
0.06
1.66%
1.60%
1.89%
Russell 3000 Index (Broad U.S. market)
FTSE All-World ex US Index (International)
Bonds
CPI
Consumer Price Index
3
at times over the summer, climbed in
October as investors sought sanctuary
from stock market volatility.
Overall, bond returns were strong despite
many analysts’ expectations that already
low yields wouldn’t decline further. Even
as the Fed began steadily reducing its
bond purchases in January, prices rose
and the yield of the 10-year U.S. Treasury
note ended October at 2.31%, down from
2.54% a year earlier. (Bond prices and
yields move in opposite directions.)
Municipal bonds returned 7.82%, with
tax-exempt issues in high demand even
at a time of reduced supply.
The Fed’s target for short-term interest
rates remained at 0%–0.25%, restraining
returns for money market funds and
savings accounts.
Results for international stocks
were muted across most markets
Vanguard Total International Stock Index
Fund provides broad exposure to developed
markets outside the United States as well
as to the world’s emerging markets. Three
major economic groupings—developed
Europe, the developed markets of the
Pacific region, and emerging markets—
account for the bulk of the fund’s holdings.
For the fiscal year, their returns ranged
from about 4% for emerging markets to
nearly –1% for Europe.
Expense Ratios
Your Fund Compared With Its Peer Group
Total International Stock Index Fund
Investor
Shares
Admiral
Shares
Institutional
Shares
Institutional
Plus Shares
ETF
Shares
Peer
Group
Average
0.22%
0.14%
0.12%
0.10%
0.14%
1.36%
The fund expense ratios shown are from the prospectus dated February 27, 2014, and represent estimated costs for the current fiscal year.
For the fiscal year ended October 31, 2014, the fund’s expense ratios were 0.22% for Investor Shares, 0.14% for Admiral Shares, 0.12% for
Institutional Shares, 0.10% for Institutional Plus Shares, and 0.14% for ETF Shares. The peer-group expense ratio is derived from data
provided by Lipper, a Thomson Reuters Company, and captures information through year-end 2013.
Peer group: International Funds.
4
Results in emerging markets were mixed.
Several of the biggest economies, including
India, China, and Taiwan, posted gains.
India, which returned 36%, was the topperforming emerging market and the single
biggest contributor to the fund’s return.
Stocks of other large emerging-markets,
including Brazil and Russia, declined.
Amid still-high unemployment and looming
deflation, the European Central Bank cut
interest rates twice and took other steps
to try to stimulate growth.
Developed markets in the Pacific region
also posted mixed results. Declines in
its two biggest economies, Japan and
Australia, offset gains in Hong Kong and
New Zealand. As a whole, stocks in the
region were virtually flat.
Against this backdrop, European countries
turned in varied performances, while returns
for the region as a whole were slightly
negative. The United Kingdom, Europe’s
largest stock market, was just barely
positive. Several countries, including
Switzerland, Spain, Sweden, and Denmark,
posted gains, while other markets lost
ground, including France, Germany, the
Netherlands, and Italy.
Early in the fiscal year, Europe appeared to
have emerged from a double-dip recession,
but clouds reappeared on the economic
horizon in the second half of the period.
The fund has minimal exposure to
North America and the Middle East.
The North American region, made up
almost exclusively of Canadian stocks,
Total Returns
Ten Years Ended October 31, 2014
Average
Annual Return
Total International Stock Index Fund Investor Shares
6.41%
Spliced Total International Stock Index
6.41
International Funds Average
5.64
For a benchmark description, see the Glossary.
International Funds Average: Derived from data provided by Lipper, a Thomson Reuters Company.
The figures shown represent past performance, which is not a guarantee of future results. (Current performance may be
lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our
website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so
an investor’s shares, when sold, could be worth more or less than their original cost.
5
returned almost 4%. The Middle East
region, consisting solely of Israeli stocks
and constituting just a tiny percentage of
the index, had the most impressive gains—
more than 20%.
The fund has a long-term record
of closely tracking its benchmark
For the ten years ended October 31, 2014,
Vanguard Total International Stock Index
Fund delivered an average annual return of
6.41% for Investor Shares, outperforming
its peer group average.
The fund has met its primary objective of
closely tracking its target index over the
long term—no easy feat during a period
that included the worst global recession
since the Great Depression. This is a
testament to the experience, talent, and
sophisticated systems of the fund’s
advisor, Vanguard Equity Investment
Group. The advisor was helped in its task
by the fund’s low expenses, which allow
shareholders to keep more of the returns
on their investment.
When market volatility heats up,
the best response is to keep cool
After several years of strength, stocks
hit a rough patch toward the close of the
fiscal year, as I noted earlier. For the first
half of October, global stock markets (as
measured by the FTSE Global All Cap
Index) returned –5.56%. Even though
stocks rebounded in the second half of
the month, many investors undoubtedly
were left feeling unsettled.
A note on fair-value pricing
The reported return of a fund that tracks an index sometimes diverges from the index’s return
a bit more than would be expected. This may be the result of a fair-value pricing adjustment.
These adjustments, which are required by the Securities and Exchange Commission, address
pricing discrepancies that may arise because of time-zone differences among global stock
markets. Foreign stocks may trade on exchanges that close many hours before a fund’s
closing share price is calculated in the United States, generally at 4 p.m., Eastern time. In
the hours between the foreign close and the U.S. close, the value of these foreign securities
may change—because of company-specific announcements or market-wide developments,
for example. Such price changes are not immediately reflected in international index values.
Fair-value pricing takes such changes into account in calculating the fund’s daily net asset
value, thus ensuring that the NAV doesn’t include “stale” prices. The result can be a temporary
divergence between the return of the fund and that of its benchmark index—a difference that
usually corrects itself when the foreign markets reopen.
6
What’s my best advice to anxious shareholders? Remain calm and remember that
volatility is a normal part of stock market
investing. The value of keeping a cool head
is highlighted in a Vanguard research paper
that looked at how investors behaved
during the financial crisis, when global
stocks declined about 58% and U.S.
stocks about 55%.
Currency fluctuation is one reason U.S. and international stocks diverge
Diversification is a proven way to reduce volatility and manage risk. That’s why it can make
sense for investors to allocate a portion of their stock portfolios to international equities
(20% of the equity allocation can be a good starting point). International stocks, which make up
about half of the world’s stock market capitalization, perform somewhat differently than stocks
in the U.S. market. One of the many reasons for this is currency fluctuation. Currency
movements historically have not been correlated to stock price movements, meaning they
tend not to move together.
International stocks have underperformed U.S. stocks recently for U.S.-based investors,
in part because many foreign currencies have weakened against the U.S. dollar. But that
divergence actually highlights the diversification benefit of owning both U.S. and international
stocks. As you can see from the accompanying chart, at other times, international stocks have
outshone their U.S. counterparts. (For more insight, see Global Equities: Balancing Home Bias
and Diversification, available at vanguard.com/research.)
Trailing 12-month return differential between U.S. and non-U.S. stocks
Difference in total returns
40%
U.S. stocks outperform
20
0
–20
Non-U.S. stocks outperform
–40
Oct.
1994
Oct.
1998
Oct.
2002
Oct.
2006
Oct.
2010
Oct.
2014
Notes: U.S. equities are represented by the MSCI USA Index; international equities are represented by the MSCI All Country World Index ex USA.
Data are from October 31, 1994, through October 31, 2014.
Sources: Vanguard, Thomson Reuters Datastream, and MSCI.
7
The 2010 paper, Resilience in Volatile
Markets: 401(k) Participant Behavior,
September 2007–December 2009,
examined the behavior of participants
in Vanguard-administered retirement
plans. During the period studied, about
three-quarters of participants made no
changes to their accounts, and only 3%
gave up on stocks completely.
As stocks recovered, this discipline yielded
big benefits. From the end of 2008 to the
end of 2013, the average Vanguard 401(k)
portfolio nearly doubled in value, largely
because of the surge in stock prices.
I’m pleased that, over time, our clients
have demonstrated an impressive ability
to remain focused on their long-term goals.
8
They stayed the course through the 1987
correction, the dot-com boom of the 1990s,
and the more recent financial crisis, and
they continue to do so today.
As always, thank you for investing
with Vanguard.
Sincerely,
F. William McNabb III
Chairman and Chief Executive Officer
November 13, 2014
Total International Stock Index Fund
Fund Profile
As of October 31, 2014
Share-Class Characteristics
Investor
Shares
Admiral
Shares
Institutional
Shares
Institutional
Plus Shares
Ticker Symbol
VGTSX
VTIAX
VTSNX
VTPSX
VXUS
Expense Ratio1
0.22%
0.14%
0.12%
0.10%
0.14%
Volatility Measures
Portfolio Characteristics
Number of Stocks
ETF Shares
Fund
FTSE Global
All Cap
ex US
Index
5,798
5,554
Median Market Cap
$25.7B
$25.7B
Price/Earnings Ratio
17.2x
17.1x
Spliced
Total
International
Stock Index
FTSE Global
All Cap
ex US
Index
R-Squared
0.97
0.97
Beta
0.98
0.98
These measures show the degree and timing of the fund’s
fluctuations compared with the indexes over 36 months.
Price/Book Ratio
1.7x
1.7x
Return on Equity
14.3%
14.4%
Earnings Growth
Rate
11.9%
12.0%
2.8%
2.9%
3%
—
Novartis AG
Pharmaceuticals
1.0
-0.1%
—
Roche Holding AG
Pharmaceuticals
1.0
Dividend Yield
Turnover Rate
Short-Term Reserves
Sector Diversification (% of equity exposure)
Basic Materials
Consumer Goods
Consumer Services
Financials
Health Care
Fund
FTSE Global
All Cap
ex US
Index
7.8%
7.8%
14.9
14.9
8.1
8.1
26.5
26.5
7.7
7.7
Industrials
13.9
13.9
Oil & Gas
7.9
7.9
Technology
4.9
4.9
Telecommunications
4.7
4.7
Utilities
3.6
3.6
Ten Largest Holdings (% of total net assets)
Nestle SA
Food Products
1.1%
Royal Dutch Shell plc
Integrated Oil & Gas
1.1
HSBC Holdings plc
Banks
0.9
Toyota Motor Corp.
Automobiles
0.8
BHP Billiton Ltd.
General Mining
0.7
BP plc
Integrated Oil & Gas
0.6
Samsung Electronics Co. Consumer
Ltd.
Electronics
0.6
Total SA
0.6
Integrated Oil & Gas
8.4%
Top Ten
The holdings listed exclude any temporary cash investments and
equity index products.
Allocation by Region (% of portfolio)
44.4% Europe
28.8% Pacific
18.9% Emerging Markets
7.4% North America
0.5% Middle East
1 The expense ratios shown are from the prospectus dated February 27, 2014, and represent estimated costs for the current fiscal year. For the fiscal
year ended October 31, 2014, the expense ratios were 0.22% for Investor Shares, 0.14% for Admiral Shares, 0.12% for Institutional Shares, 0.10%
for Institutional Plus Shares, and 0.14% for ETF Shares.
9
Total International Stock Index Fund
Market Diversification (% of equity exposure)
Fund
FTSE
Global
All Cap
ex US
Index
Europe
United Kingdom
14.8%
14.9%
Switzerland
6.0
6.0
France
5.9
5.9
Germany
5.7
5.8
Spain
2.3
2.3
Sweden
2.1
2.2
Netherlands
1.9
1.9
Italy
1.7
1.8
Denmark
1.1
1.1
Other
Subtotal
2.9
2.9
44.4%
44.8%
16.2%
15.8%
Pacific
Japan
Australia
5.6
5.6
South Korea
3.1
3.1
Hong Kong
2.6
2.6
Singapore
1.1
1.1
Other
0.2
0.2
28.8%
28.4%
China
4.0%
4.0%
Taiwan
3.0
3.0
India
2.2
2.1
Brazil
2.2
2.2
South Africa
1.6
1.6
Mexico
1.1
1.1
Malaysia
1.0
1.0
Subtotal
Emerging Markets
Other
Subtotal
3.8
3.9
18.9%
18.9%
North America
Canada
Middle East
10
7.4%
7.4%
0.5%
0.5%
Total International Stock Index Fund
Performance Summary
All of the returns in this report represent past performance, which is not a guarantee of future
results that may be achieved by the fund. (Current performance may be lower or higher than
the performance data cited. For performance data current to the most recent month-end, visit
our website at vanguard.com/performance.) Note, too, that both investment returns and principal
value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than
their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund
distributions or on the sale of fund shares.
Cumulative Performance: October 31, 2004, Through October 31, 2014
Initial Investment of $10,000
$25,000
18,607
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
5,000
Average Annual Total Returns
Periods Ended October 31, 2014
One
Year
• • • • • • • •
Five
Years
Ten
Years
Final Value
of a $10,000
Investment
$18,607
Total International Stock Index
Fund*Investor Shares
1.00%
6.28%
6.41%
Spliced Total International Stock Index
0.37
5.94
6.41
18,613
0.04
6.72
5.64
17,309
– – – – International Funds Average
For a benchmark description, see the Glossary.
International Funds Average: Derived from data provided by Lipper, a Thomson Reuters Company.
One
Year
Since
Inception
(11/29/2010)
Final Value
of a $10,000
Investment
$12,429
Total International Stock Index Fund Admiral
Shares
1.09%
5.70%
Spliced Total International Stock Index
0.37
5.48
12,326
"Since Inception" performance is calculated from the Admiral Shares’ inception date for both the fund and its comparative standards.
See Financial Highlights for dividend and capital gains information.
11
Total International Stock Index Fund
Average Annual Total Returns
Periods Ended October 31, 2014
One
Year
Since
Inception
(11/29/2010)
Final Value
of a $5,000,000
Investment
$6,221,441
Total International Stock Index Fund
Institutional Shares
1.12%
5.73%
Spliced Total International Stock Index
0.37
5.47
6,161,541
"Since Inception" performance is calculated from the Institutional Shares’ inception date for both the fund and its comparative standards.
One
Year
Since
Inception
(11/30/2010)
Final Value
of a $100,000,000
Investment
$125,921,081
Total International Stock Index Fund
Institutional Plus Shares
1.14%
6.06%
Spliced Total International Stock Index
0.37
5.77
124,601,430
"Since Inception" performance is calculated from the Institutional Plus Shares’ inception date for both the fund and its comparative standards.
One
Year
Since
Inception
(1/26/2011)
Final Value
of a $10,000
Investment
$11,387
Total International Stock Index Fund
ETF Shares Net Asset Value
1.10%
3.51%
Spliced Total International Stock Index
0.37
3.34
11,315
"Since Inception" performance is calculated from the ETF Shares’ inception date for both the fund and its comparative standards.
Cumulative Returns of ETF Shares: January 26, 2011, Through October 31, 2014
Total International Stock Index Fund ETF Shares
Market Price
One
Year
Since
Inception
(1/26/2011)
1.40%
14.29%
Total International Stock Index Fund ETF Shares
Net Asset Value
1.10
13.87
Spliced Total International Stock Index
0.37
13.15
"Since Inception" performance is calculated from the ETF Shares’ inception date for both the fund and its comparative standards.
12
Total International Stock Index Fund
Fiscal-Year Total Returns (%): October 31, 2004, Through October 31, 2014
2006
2005
19.91
19.78
27.84
28.28
2007
32.47
2008
31.63
2009
31.41
2010
2011
2012
2013
2014
34.48
13.28
20.37
11.88
5.32
–6.54
20.65
4.06
1.00
0.37
–5.33
–48.57 –48.73
Total International Stock Index Fund Investor Shares
Spliced Total International Stock Index
For a benchmark description, see the Glossary.
Average Annual Total Returns: Periods Ended September 30, 2014
This table presents returns through the latest calendar quarter—rather than through the end of the fiscal period.
Securities and Exchange Commission rules require that we provide this information.
Inception
Date
One
Year
Five
Years
Ten
Years
Investor Shares
4/29/1996
4.77%
5.88%
6.78%
Admiral Shares
11/29/2010
4.89
—
5.901
Institutional Shares
11/29/2010
4.92
—
5.941
Institutional Plus Shares
11/30/2010
4.93
—
6.271
Market Price
5.07
—
3.721
Net Asset Value
4.87
—
3.671
ETF Shares
1/26/2011
1 Return since inception.
13
Total International Stock Index Fund
Financial Statements
Statement of Net Assets—Investments Summary
As of October 31, 2014
This Statement summarizes the fund’s holdings by asset type. Details are reported for each of the
fund’s 50 largest individual holdings and for investments that, in total for any issuer, represent more
than 1% of the fund’s net assets. The total value of smaller holdings is reported as a single amount
within each category.
The fund reports a complete list of its holdings in regulatory filings four times in each fiscal year, at
the quarter-ends. For the second and fourth fiscal quarters, the complete listing of the fund’s holdings
is available electronically on vanguard.com and on the Securities and Exchange Commission’s website
(sec.gov), or you can have it mailed to you without charge by calling 800-662-7447. For the first and
third fiscal quarters, the fund files the lists with the SEC on Form N-Q. Shareholders can look up the
fund’s Forms N-Q on the SEC’s website. Forms N-Q may also be reviewed and copied at the SEC’s
Public Reference Room (see the back cover of this report for further information).
Shares
Market
ValueJ
($000)
Percentage
of Net
Assets
—
0.0%
725,720
607,367
600,489
517,295
463,608
4,451,428
0.5%
0.5%
0.5%
0.4%
0.3%
3.3%
7,365,907
5.5%
268,849
0.2%
560,516
622,060
0.4%
0.5%
1,182,576
0.9%
2,819,767
2.1%
647,423
575,709
469,748
8,041,298
0.5%
0.4%
0.4%
6.0%
9,734,178
7.3%
386,534
0.3%
Common Stocks
Argentina †Australia
Commonwealth Bank of Australia
BHP Billiton Ltd.
Westpac Banking Corp.
Australia & New Zealand Banking Group Ltd.
National Australia Bank Ltd.
Australia—Other †10,203,463
20,348,892
19,529,633
17,478,899
15,001,031
Austria †Belgium
Anheuser-Busch InBev NV
Belgium—Other †5,057,692
Brazil †Canada
Royal Bank of Canada
Toronto-Dominion Bank
Bank of Nova Scotia
Canada—Other †Chile †14
9,119,837
11,697,375
7,670,675
Total International Stock Index Fund
China
*
Tencent Holdings Ltd.
China Mobile Ltd.
China Construction Bank Corp.
Industrial & Commercial Bank of China Ltd.
Bank of China Ltd.
PetroChina Co. Ltd.
CNOOC Ltd.
China Life Insurance Co. Ltd.
China Petroleum & Chemical Corp.
Agricultural Bank of China Ltd.
China Overseas Land & Investment Ltd.
China Telecom Corp. Ltd.
CITIC Ltd.
China Shenhua Energy Co. Ltd.
China Unicom Hong Kong Ltd.
China Resources Power Holdings Co. Ltd.
PICC Property & Casualty Co. Ltd.
China CITIC Bank Corp. Ltd.
Dongfeng Motor Group Co. Ltd.
China Resources Land Ltd.
Sinopharm Group Co. Ltd.
Kunlun Energy Co. Ltd.
China Oilfield Services Ltd.
China Longyuan Power Group Corp. Ltd.
China Communications Construction Co. Ltd.
China Resources Enterprise Ltd.
^
China Coal Energy Co. Ltd.
China State Construction International Holdings Ltd.
China Railway Group Ltd.
Zhuzhou CSR Times Electric Co. Ltd.
CSR Corp. Ltd.
China Railway Construction Corp. Ltd.
China Resources Gas Group Ltd.
*
China Taiping Insurance Holdings Co. Ltd.
*,^ Aluminum Corp. of China Ltd.
AviChina Industry & Technology Co. Ltd.
1
People’s Insurance Co. Group of China Ltd.
*
China Cinda Asset Management Co. Ltd.
Sinotrans Ltd.
China Resources Cement Holdings Ltd.
Huaneng Renewables Corp. Ltd.
China Communications Services Corp. Ltd.
Air China Ltd.
*,^ China COSCO Holdings Co. Ltd.
Beijing Capital International Airport Co. Ltd.
Sinopec Shanghai Petrochemical Co. Ltd.
1
Sinopec Engineering Group Co. Ltd.
^
China Power International Development Ltd.
1
China Galaxy Securities Co. Ltd.
Franshion Properties China Ltd.
^
Sinopec Kantons Holdings Ltd.
Angang Steel Co. Ltd.
China Agri-Industries Holdings Ltd.
Metallurgical Corp. of China Ltd.
China BlueChemical Ltd.
Shares
Market
ValueJ
($000)
Percentage
of Net
Assets
29,111,875
33,011,000
457,360,340
456,817,760
477,341,306
133,712,000
101,915,000
47,160,000
161,698,400
163,707,460
25,897,680
102,719,000
34,797,000
21,586,000
28,531,694
12,073,600
19,029,344
48,213,446
18,528,000
11,814,000
6,188,800
17,896,300
11,468,000
21,321,000
28,040,000
7,606,000
25,924,000
9,827,442
24,443,000
3,201,000
12,003,000
11,887,300
4,311,000
5,229,600
25,253,788
14,236,000
24,030,000
20,124,000
11,782,000
12,537,845
22,008,000
16,281,600
11,682,000
16,181,500
9,670,000
22,297,000
7,108,500
15,027,000
7,017,000
23,198,000
6,314,000
6,986,000
13,140,400
17,929,063
11,608,000
463,493
410,648
340,565
301,927
228,172
168,061
159,541
140,777
140,589
75,932
75,365
65,505
60,892
60,782
42,782
35,668
34,902
31,407
28,640
28,178
24,166
24,051
23,942
22,775
21,639
18,071
16,050
15,396
15,198
14,956
12,476
12,470
12,307
11,482
11,248
10,822
10,371
9,527
9,347
8,514
7,912
7,713
7,559
7,347
7,097
6,921
6,872
6,777
5,585
5,470
5,240
5,137
5,013
4,975
4,148
0.4%
0.3%
0.3%
0.3%
0.2%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
15
Total International Stock Index Fund
Shares
*
^
*,^
^
^
*
^
*,^
*
*,^
*
1
China Eastern Airlines Corp. Ltd.
China Southern Airlines Co. Ltd.
Dongfang Electric Corp. Ltd.
Hunan Nonferrous Metal Corp. Ltd.
MMG Ltd.
Dah Chong Hong Holdings Ltd.
Harbin Electric Co. Ltd.
Sinotrans Shipping Ltd.
China Datang Corp. Renewable Power Co. Ltd.
China Merchants Property Development Co. Ltd. Class B
CITIC Resources Holdings Ltd.
Sinofert Holdings Ltd.
CPMC Holdings Ltd.
China Machinery Engineering Corp.
China Foods Ltd.
China National Accord Medicines Corp. Ltd. Class B
Shanghai Baosight Software Co. Ltd. Class B
COSCO International Holdings Ltd.
Minmetals Land Ltd.
Foshan Huaxin Packaging Co. Ltd. Class B
China—Other †10,038,000
10,802,000
2,157,000
9,963,272
9,600,000
5,091,000
4,448,000
8,256,000
15,388,000
1,323,213
14,822,600
11,952,000
2,453,000
3,108,000
4,614,000
331,600
712,370
3,460,000
8,850,000
840,392
Colombia †Czech Republic †Denmark
Novo Nordisk A/S Class B
Denmark—Other †12,352,216
Egypt †Finland †France
Total SA
Sanofi
BNP Paribas SA
France—Other †Germany
Bayer AG
Siemens AG
BASF SE
Daimler AG
Allianz SE
SAP SE
Germany—Other †Greece †16
12,880,500
7,257,388
6,192,505
5,243,469
5,026,478
5,853,407
6,057,103
2,886,979
5,667,423
Market
ValueJ
($000)
Percentage
of Net
Assets
3,816
3,785
3,658
3,261
3,204
3,005
2,682
2,258
2,223
2,213
2,064
1,855
1,840
1,763
1,746
1,686
1,527
1,516
1,028
465
1,941,089
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.5%
5,279,084
4.0%
225,659
0.2%
54,657
0.0%
558,261
913,798
0.4%
0.7%
1,472,059
1.1%
19,325
0.0%
918,741
0.7%
768,635
672,242
390,499
5,963,370
0.6%
0.5%
0.3%
4.5%
7,794,746
5.9%
745,812
566,623
515,580
470,833
458,602
385,329
4,416,305
0.6%
0.4%
0.4%
0.4%
0.3%
0.3%
3.3%
7,559,084
5.7%
142,233
0.1%
Total International Stock Index Fund
Market
Valuet
($000)
Percentage
of Net
Assets
426,122
75,773
5,206
3,292
2,197
1,457
1,126
660
51
2,880,852
0.3%
0.1%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
2.2%
3,396,736
2.6%
51,438
0.0%
15,035
2,822,048
0.0%
2.1%
2,837,083
2.1%
Indonesia †722,787
0.5%
Ireland †271,174
0.2%
4,685
602,839
0.0%
0.5%
607,524
0.5%
2,317,143
1.7%
1,010,426
534,906
442,226
361,806
42,972
18,988,446
0.8%
0.4%
0.3%
0.3%
0.0%
14.3%
21,380,782
16.1%
1,250,681
0.9%
1,424,389
1.1%
471
0.0%
383,155
2,138,643
0.3%
1.6%
2,521,798
1.9%
New Zealand †235,973
0.2%
1Norway
796,480
0.6%
Shares
Hong Kong
AIA Group Ltd.
BOC Hong Kong Holdings Ltd.
^
China Travel International Investment Hong Kong Ltd.
CITIC Telecom International Holdings Ltd.
APT Satellite Holdings Ltd.
*,^ Yanchang Petroleum International Ltd.
^
China Merchants Land Ltd.
*
China Taiping Insurance Holdings Rights Exp. 11/18/2014
*
COFCO Land Holdings Ltd.
1
Hong Kong—Other †76,373,037
22,795,039
16,734,000
8,196,875
1,508,000
28,620,000
7,868,000
1,077,972
240,000
Hungary †India
Nestle India Ltd.
India—Other †Israel
Osem Investments Ltd.
Israel—Other †146,683
242,462
Italy †Japan
Toyota Motor Corp.
Mitsubishi UFJ Financial Group Inc.
SoftBank Corp.
Honda Motor Co. Ltd.
Chugai Pharmaceutical Co. Ltd.
Japan—Other †1Malaysia
16,796,710
89,710,333
5,968,063
11,371,530
1,410,945
†Mexico †Morocco †Netherlands
Unilever NV
Netherlands—Other ††9,868,521
17
Total International Stock Index Fund
Shares
Market
ValueJ
($000)
Percentage
of Net
Assets
6,544,509
279,058
0.2%
67,808
0.1%
Philippines †461,038
0.3%
Poland †477,394
0.4%
Portugal †202,736
0.2%
1,123,348
0.8%
2,969
776
1,514,160
0.0%
0.0%
1.1%
1,517,905
1.1%
2,151,145
1.6%
736,832
1,716
3,374,859
0.6%
0.0%
2.5%
4,113,407
3.1%
667,933
416,900
379,087
1,631,495
0.5%
0.3%
0.3%
1.2%
3,095,415
2.3%
2,829,353
2.1%
1,480,270
1,369,409
1,315,819
388,600
3,363,145
1.1%
1.1%
1.0%
0.3%
2.5%
7,917,243
6.0%
568,699
3,372,437
0.4%
2.6%
3,941,136
3.0%
Thailand †794,485
0.6%
Turkey †468,572
0.4%
United Arab Emirates †235,982
0.2%
Other ††2
Vanguard FTSE Emerging Markets ETF
Peru †1Russia
†Singapore
COSCO Corp. Singapore Ltd.
GMG Global Ltd.
1
Singapore—Other †^
6,391,513
15,906,000
South Africa †South Korea
Samsung Electronics Co. Ltd.
Hankook Shell Oil Co. Ltd.
1
South Korea—Other †Spain
*
Banco Santander SA
Banco Bilbao Vizcaya Argentaria SA
Telefonica SA
Spain—Other †636,046
3,759
75,703,022
37,285,313
25,208,509
Sweden †Switzerland
Nestle SA
Novartis AG
Roche Holding AG
UBS AG
Switzerland—Other †Taiwan
Taiwan Semiconductor Manufacturing Co. Ltd.
Taiwan—Other †18
20,219,307
14,765,472
4,455,020
22,358,926
131,752,063
Total International Stock Index Fund
Shares
United Kingdom
HSBC Holdings plc
BP plc
Royal Dutch Shell plc Class A
GlaxoSmithKline plc
British American Tobacco plc
AstraZeneca plc
Royal Dutch Shell plc Class B
Vodafone Group plc
Diageo plc
*
Lloyds Banking Group plc
Barclays plc
Rio Tinto plc
Prudential plc
BG Group plc
Royal Dutch Shell plc Class A (Amsterdam Shares)
1
United Kingdom—Other †120,918,328
117,020,910
22,348,749
30,827,186
11,819,361
8,001,615
15,551,368
168,451,046
15,970,860
342,720,686
103,954,006
7,911,082
16,179,940
21,579,931
2,608,252
Total Common Stocks (Cost $121,655,133)
Market
Valuet
($000)
Percentage
of Net
Assets
1,237,821
843,075
800,284
698,827
671,314
582,601
576,947
559,741
470,068
423,500
398,476
377,832
373,903
359,645
93,489
11,041,929
0.9%
0.6%
0.6%
0.5%
0.5%
0.5%
0.4%
0.4%
0.4%
0.3%
0.3%
0.3%
0.3%
0.3%
0.1%
8.3%
19,509,452
14.7%
132,223,335
99.5%3
3,077,640
2.3%
Coupon
Temporary Cash Investments
Money Market Fund
4,5 Vanguard Market Liquidity Fund
6,7U.S.
Government and Agency Obligations †Total Temporary Cash Investments (Cost $3,131,634)
Total Investments (Cost $124,786,767)
0.114% 3,077,639,759
53,994
0.0%
3,131,634
2.3%3
135,354,969
101.8%
476,592
(2,890,570)
0.4%
(2.2%)
Other Assets and Liabilities
Other Assets
Liabilities4
(2,413,978)
Net Assets
132,940,991
(1.8%)
100.0%
At October 31, 2014, net assets consisted of:
Amount
($000)
Paid-in Capital
Undistributed Net Investment Income
Accumulated Net Realized Losses
Unrealized Appreciation (Depreciation)
Investment Securities
Futures Contracts
Forward Currency Contracts
Foreign Currencies
122,613,241
228,065
(437,587)
Net Assets
132,940,991
10,568,202
(7,439)
(12,877)
(10,614)
19
Total International Stock Index Fund
Amount
($000)
Investor Shares—Net Assets
Applicable to 3,128,474,331 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)
Net Asset Value Per Share—Investor Shares
51,039,515
$16.31
Admiral Shares—Net Assets
Applicable to 1,152,398,572 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)
Net Asset Value Per Share—Admiral Shares
31,444,588
$27.29
Institutional Shares—Net Assets
Applicable to 120,804,747 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)
Net Asset Value Per Share—Institutional Shares
13,182,335
$109.12
Institutional Plus Shares—Net Assets
Applicable to 310,747,469 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)
Net Asset Value Per Share—Institutional Plus Shares
33,914,708
$109.14
ETF Shares—Net Assets
Applicable to 66,206,999 outstanding $.001 par value shares of
beneficial interest (unlimited authorization)
Net Asset Value Per Share—ETF Shares
3,359,845
$50.75
See Note A in Notes to Financial Statements.
* Non-income-producing security.
^ Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,381,553,000.
†Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer,
represent 1% or less of net assets.
††“Other” represents securities that are not classified by the fund’s benchmark.
1 Certain of the fund’s securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be
sold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2014, the aggregate value of
these securities was $144,266,000, representing 0.1% of net assets.
2 Considered an affiliated company of the fund as the issuer is another member of The Vanguard Group.
3 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 100.0% and 1.8%,
respectively, of net assets.
4 Includes $2,587,888,000 of collateral received for securities on loan.
5 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is
the 7-day yield.
6 Securities with a value of $34,166,000 have been segregated as initial margin for open futures contracts.
7 Securities with a value of $14,470,000 have been segregated as collateral for open forward currency contracts.
See accompanying Notes, which are an integral part of the Financial Statements.
J
20
Total International Stock Index Fund
Statement of Operations
Year Ended
October 31, 2014
($000)
Investment Income
Income
Dividends1,2
Interest2
Securities Lending
Total Income
Expenses
The Vanguard Group—Note B
Investment Advisory Services
Management and Administrative—Investor Shares
Management and Administrative—Admiral Shares
Management and Administrative—Signal Shares
Management and Administrative—Institutional Shares
Management and Administrative—Institutional Plus Shares
Management and Administrative—ETF Shares
Marketing and Distribution—Investor Shares
Marketing and Distribution—Admiral Shares
Marketing and Distribution—Signal Shares
Marketing and Distribution—Institutional Shares
Marketing and Distribution—Institutional Plus Shares
Marketing and Distribution—ETF Shares
Custodian Fees
Auditing Fees
Shareholders’ Reports—Investor Shares
Shareholders’ Reports—Admiral Shares
Shareholders’ Reports—Signal Shares
Shareholders’ Reports—Institutional Shares
Shareholders’ Reports—Institutional Plus Shares
Shareholders’ Reports—ETF Shares
Trustees’ Fees and Expenses
Total Expenses
Net Investment Income
Realized Net Gain (Loss)
Investment Securities Sold2
Futures Contracts
Foreign Currencies and Forward Currency Contracts
Realized Net Gain (Loss)
Change in Unrealized Appreciation (Depreciation)
Investment Securities
Futures Contracts
Foreign Currencies and Forward Currency Contracts
Change in Unrealized Appreciation (Depreciation)
Net Increase (Decrease) in Net Assets Resulting from Operations
4,011,969
837
100,793
4,113,599
5,492
81,951
24,457
3,443
8,099
13,866
2,370
10,324
3,575
1,251
2,910
6,442
615
29,778
48
99
68
80
114
73
84
94
195,233
3,918,366
741,574
39,720
(41,997)
739,297
(3,589,810)
(23,229)
(29,867)
(3,642,906)
1,014,757
1 Dividends are net of foreign withholding taxes of $468,362,000.
2 Dividend income, interest income, and realized net gain (loss) from affiliated companies of the fund were $7,972,000, $795,000, and
$8,823,000, respectively.
See accompanying Notes, which are an integral part of the Financial Statements.
21
Total International Stock Index Fund
Statement of Changes in Net Assets
Year Ended October 31,
2014
($000)
2013
($000)
3,918,366
2,603,888
Increase (Decrease) in Net Assets
Operations
Net Investment Income
Realized Net Gain (Loss)
739,297
621,418
(3,642,906)
13,845,044
1,014,757
17,070,350
Investor Shares
(1,534,033)
(1,309,409)
Admiral Shares
(819,498)
(589,421)
Signal Shares
(144,315)
(147,537)
Institutional Shares
(397,850)
(293,827)
Institutional Plus Shares
(931,850)
(547,611)
(89,095)
(48,365)
Investor Shares
—
—
Admiral Shares
—
—
Signal Shares
—
—
Institutional Shares
—
—
Institutional Plus Shares
—
—
Change in Unrealized Appreciation (Depreciation)
Net Increase (Decrease) in Net Assets Resulting from Operations
Distributions
Net Investment Income
ETF Shares
Realized Capital Gain
ETF Shares
Total Distributions
—
—
(3,916,641)
(2,936,170)
Capital Share Transactions
Investor Shares
6,874,109
3,372,512
Admiral Shares
10,709,173
3,491,370
Signal Shares
(5,394,525)
1,128,876
2,462,701
2,543,728
12,165,427
6,820,257
Institutional Shares
Institutional Plus Shares
ETF Shares
1,243,544
990,364
Net Increase (Decrease) from Capital Share Transactions
28,060,429
18,347,107
Total Increase (Decrease)
25,158,545
32,481,287
Net Assets
Beginning of Period
107,782,446
75,301,159
End of Period1
132,940,991
107,782,446
1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of $228,065,000 and $243,359,000.
See accompanying Notes, which are an integral part of the Financial Statements.
22
Total International Stock Index Fund
Financial Highlights
Investor Shares
For a Share Outstanding
Throughout Each Period
Net Asset Value, Beginning of Period
Year Ended October 31,
2014
2013
2012
2011
2010
$16.67
$14.31
$14.24
$15.48
$13.99
Investment Operations
Net Investment Income
.5261
Net Realized and Unrealized Gain (Loss)
on Investments
Total from Investment Operations
.425
.405
.4342
.356 2
(.352)
2.428
.305
(1.425)
1.478
.174
2.853
.710
(.991)
1.834
(.534)
(.493)
(.640)
(.249)
(.344)
Distributions
Dividends from Net Investment Income
Distributions from Realized Capital Gains
Total Distributions
—
—
(.534)
(.493)
—
(.640)
—
(.249)
—
(.344)
Net Asset Value, End of Period
$16.31
$16.67
$14.31
$14.24
$15.48
Total Return3
1.00%
20.37%
5.32%
-6.54%
13.28%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)
$51,040
$45,205
$35,564
$30,912
$39,443
Ratio of Total Expenses to Average Net Assets
0.22%
0.22%
0.22%
0.22%
0.26%
Ratio of Net Investment Income to
Average Net Assets
3.16%1
2.79%
3.17%
2.95%
2.52%
3%
5%
3%
3%
6%
Portfolio Turnover
Rate 4
1 Net investment income per share and the ratio of net investment income to average net assets include $.067 and 0.39%, respectively,
resulting from income received from Vodafone Group plc in the form of cash and shares in Verizon Communications Inc. in February 2014.
2 Calculated based on average shares outstanding.
3 Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund prospectuses provide
information about any applicable transaction and account service fees.
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.
23
Total International Stock Index Fund
Financial Highlights
Admiral Shares
2014
2013
2012
Nov. 29,
20101 to
Oct. 31,
2011
$27.89
$23.94
$23.81
$25.00
Year Ended October 31,
For a Share Outstanding Throughout Each Period
Net Asset Value, Beginning of Period
Investment Operations
Net Investment Income
.9042
.733
Net Realized and Unrealized Gain (Loss) on Investments
(.588)
Total from Investment Operations
.316
(.916)
.681
.842 3
4.069
.530
(1.615)
4.802
1.211
(.773)
(.852)
(1.081)
(.417)
Distributions
Dividends from Net Investment Income
Distributions from Realized Capital Gains
—
Total Distributions
(.916)
—
(.852)
—
(1.081)
—
(.417)
Net Asset Value, End of Period
$27.29
$27.89
$23.94
$23.81
Total Return 4
1.09%
20.51%
5.43%
-3.23%
$31,445
$21,438
$15,153
$13,190
0.14%
0.14%
0.16%
0.18%5
3.24%2
2.87%
3.23%
2.99%5
3%
5%
3%
3%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)
Ratio of Total Expenses to Average Net Assets
Ratio of Net Investment Income to Average Net Assets
Portfolio Turnover Rate 6
1 Inception.
2 Net investment income per share and the ratio of net investment income to average net assets include $.111 and 0.39%, respectively,
resulting from income received from Vodafone Group plc in the form of cash and shares in Verizon Communications Inc. in February 2014.
3 Calculated based on average shares outstanding.
4 Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund prospectuses provide
information about any applicable transaction and account service fees.
5 Annualized.
6 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.
24
Total International Stock Index Fund
Financial Highlights
Signal Shares
For a Share Outstanding Throughout Each Period
Nov. 1,
2013 to
Oct. 24,
20141
2013
2012
Nov. 30,
20102 to
Oct. 31,
2011
$33.45
$28.72
$28.57
$29.66
Net Asset Value, Beginning of Period
Year Ended
October 31,
Investment Operations
Net Investment Income
1.069 3
.877
Net Realized and Unrealized Gain (Loss) on Investments
(1.496)
(.427)
(1.093)
Total from Investment Operations
.821
.9314
4.875
.635
(1.520)
5.752
1.456
(.589)
(1.022)
(1.306)
(.501)
Distributions
Dividends from Net Investment Income
Distributions from Realized Capital Gains
—
Total Distributions
(1.093)
Net Asset Value, End of Period
$31.931
Total Return5
—
(1.022)
—
(1.306)
—
(.501)
$33.45
$28.72
$28.57
-1.39%
20.48%
5.44%
-2.16%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)
$—
$5,414
$3,583
$2,012
0.14%6
0.14%
0.16%
0.18%6
3.24%3,6
2.87%
3.23%
2.99%6
3%
5%
3%
3%
Ratio of Total Expenses to Average Net Assets
Ratio of Net Investment Income to Average Net Assets
Portfolio Turnover Rate7
1 Net asset value as of October 24, 2014, on which date the Signal Shares were converted to Admiral Shares.
2 Inception.
3 Net investment income per share and the ratio of net investment income to average net assets include $.134 and 0.39%, respectively,
resulting from income received from Vodafone Group plc in the form of cash and shares in Verizon Communications Inc. in February 2014.
4 Calculated based on average shares outstanding.
5 Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any
applicable transaction fees.
6 Annualized.
7 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.
25
Total International Stock Index Fund
Financial Highlights
Institutional Shares
2014
2013
2012
Nov. 29,
20101 to
Oct. 31,
2011
$111.51
$95.75
$95.29
$100.00
Year Ended October 31,
For a Share Outstanding Throughout Each Period
Net Asset Value, Beginning of Period
Investment Operations
Net Investment Income
3.630 2
2.948
Net Realized and Unrealized Gain (Loss) on Investments
(2.338)
1.292
(3.682)
Total from Investment Operations
2.818
3.208 3
16.255
2.048
(6.245)
19.203
4.866
(3.037)
(3.443)
(4.406)
(1.673)
Distributions
Dividends from Net Investment Income
Distributions from Realized Capital Gains
—
Total Distributions
Net Asset Value, End of Period
(3.682)
—
(3.443)
—
(4.406)
—
(1.673)
$109.12
$111.51
$95.75
$95.29
1.12%
20.51%
5.46%
-3.18%
$13,182
$11,024
$7,062
$3,788
0.12%
0.12%
0.12%
0.13%5
3.26%2
2.89%
3.27%
3.04%5
3%
5%
3%
3%
Total Return4
Ratios/Supplemental Data
Net Assets, End of Period (Millions)
Ratio of Total Expenses to Average Net Assets
Ratio of Net Investment Income to Average Net Assets
Portfolio Turnover Rate 6
1 Inception.
2 Net investment income per share and the ratio of net investment income to average net assets include $.446 and 0.39%, respectively,
resulting from income received from Vodafone Group plc in the form of cash and shares in Verizon Communications Inc. in February 2014.
3 Calculated based on average shares outstanding.
4 Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any
applicable transaction fees.
5 Annualized.
6 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.
26
Total International Stock Index Fund
Financial Highlights
Institutional Plus Shares
2014
2013
2012
Nov. 30,
20101 to
Oct. 31,
2011
$111.53
$95.77
$95.31
$98.88
Year Ended October 31,
For a Share Outstanding Throughout Each Period
Net Asset Value, Beginning of Period
Investment Operations
Net Investment Income
3.6552
2.968
Net Realized and Unrealized Gain (Loss) on Investments
(2.339)
1.316
(3.706)
Total from Investment Operations
2.778
2.596 3
16.259
2.110
(4.492)
19.227
4.888
(1.896)
(3.467)
(4.428)
(1.674)
Distributions
Dividends from Net Investment Income
Distributions from Realized Capital Gains
—
Total Distributions
Net Asset Value, End of Period
(3.706)
—
(3.467)
—
(4.428)
—
(1.674)
$109.14
$111.53
$95.77
$95.31
1.14%
20.54%
5.48%
-2.08%
$33,915
$22,504
$12,973
$6,965
0.10%
0.10%
0.10%
0.10%5
3.28%2
2.91%
3.29%
3.07%5
3%
5%
3%
3%
Total Return4
Ratios/Supplemental Data
Net Assets, End of Period (Millions)
Ratio of Total Expenses to Average Net Assets
Ratio of Net Investment Income to Average Net Assets
Portfolio Turnover Rate 6
1 Inception.
2 Net investment income per share and the ratio of net investment income to average net assets include $.446 and 0.39%, respectively,
resulting from income received from Vodafone Group plc in the form of cash and shares in Verizon Communications Inc. in February 2014.
3 Calculated based on average shares outstanding.
4 Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any
applicable transaction fees.
5 Annualized.
6 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.
27
Total International Stock Index Fund
Financial Highlights
ETF Shares
2014
2013
2012
Jan. 26,
20111 to
Oct. 31,
2011
$51.86
$44.53
$44.33
$50.00
Year Ended October 31,
For a Share Outstanding Throughout Each Period
Net Asset Value, Beginning of Period
Investment Operations
Net Investment Income
1.680 2
Net Realized and Unrealized Gain (Loss) on Investments
(1.087)
.593
(1.703)
(1.590)
(2.048)
Total from Investment Operations
1.365
1.283
1.0213
7.555
.965
(6.691)
8.920
2.248
(5.670)
Distributions
Dividends from Net Investment Income
Distributions from Realized Capital Gains
Total Distributions
Net Asset Value, End of Period
Total Return
—
(1.703)
—
(1.590)
—
(2.048)
—
—
—
$50.75
$51.86
$44.53
$44.33
1.10%
20.50%
5.43%
-11.34%
$3,360
$2,198
$966
$435
0.14%
0.14%
0.16%
0.18%4
3.24%2
2.87%
3.23%
2.99%4
3%
5%
3%
3%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)
Ratio of Total Expenses to Average Net Assets
Ratio of Net Investment Income to Average Net Assets
Portfolio Turnover Rate5
1 Inception.
2 Net investment income per share and the ratio of net investment income to average net assets include $.208 and 0.39%, respectively,
resulting from income received from Vodafone Group plc in the form of cash and shares in Verizon Communications Inc. in February 2014.
3 Calculated based on average shares outstanding.
4 Annualized.
5 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.
28
Total International Stock Index Fund
Notes to Financial Statements
Vanguard Total International Stock Index Fund is registered under the Investment Company Act of 1940
as an open-end investment company, or mutual fund. The fund invests in securities of foreign issuers,
which may subject it to investment risks not normally associated with investing in securities of U.S.
corporations. The fund offers five classes of shares: Investor Shares, Admiral Shares, Institutional
Shares, Institutional Plus Shares, and ETF Shares. Investor Shares are available to any investor who
meets the fund’s minimum purchase requirements. Admiral Shares, Institutional Shares, and
Institutional Plus Shares are designed for investors who meet certain administrative, service, and
account-size criteria. ETF Shares are listed for trading on NYSE Arca; they can be purchased and
sold through a broker. Prior to October 24, 2014, the fund offered Signal Shares. Effective at the
close of business on October 24, 2014, the Signal Shares were converted to Admiral Shares.
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 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 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.
2. 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).
3. Futures and Forward Currency Contracts: The fund uses index futures contracts to a limited extent,
with the objectives of maintaining full exposure to the stock market, enhancing returns, 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 fund
29
Total International Stock Index Fund
may seek to enhance returns by using futures contracts instead of the underlying securities when
futures are believed to be priced more attractively than the underlying securities. 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.
The fund also enters into forward currency contracts to provide the appropriate currency exposure
related to any open futures contracts. The fund’s risks in using these contracts include movement
in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties
to fulfill their obligations under the contracts. The fund mitigates its counterparty risk by entering into
forward currency contracts 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. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may
terminate the forward currency contracts, 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 forward currency 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 assets pledged as collateral for open contracts are noted in the Statement of Net
Assets. The value of collateral received or pledged is compared daily to the value of the forward
currency 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.
Futures contracts are valued at their quoted daily settlement prices. Forward currency contracts are
valued at their quoted daily prices obtained from an independent third party, adjusted for currency
risk based on the expiration date of each contract. The aggregate settlement values and notional
amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the
value of the contracts are recorded in the Statement of Net Assets 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 or forward currency contracts.
During the year ended October 31, 2014, the fund’s average investments in long and short futures
contracts represented 1% and 0% of net assets, respectively, based on the average of aggregate
settlement values at each quarter-end during the period. The fund’s average investment in forward
currency contracts represented less than 1% of net assets, based on the average notional amounts
at each quarter-end during the period.
4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company
and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for
all open federal income tax years (October 31, 2011–2014), and has concluded that no provision for
federal income tax is required in the fund’s financial statements.
30
Total International Stock Index Fund
5. Distributions: Distributions to shareholders are recorded on the ex-dividend date.
6. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional
borrowers. Security loans 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 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 absence 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 Net Assets for the return of the collateral, during the period the securities
are on loan. Securities lending income represents fees charged to borrowers plus income earned on
invested cash collateral, less expenses associated with the loan.
7. Credit Facility: The fund and certain other funds managed by The Vanguard Group participate
in a $2.89 billion committed credit facility provided by a syndicate of lenders pursuant to a credit
agreement that may be renewed annually; each fund is individually liable for its borrowings, if any,
under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and
are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds
are charged administrative fees and an annual commitment fee of 0.06% of the undrawn amount
of the facility; these fees 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 this facility bear interest at a rate equal to the higher of the federal
funds rate or LIBOR reference rate plus an agreed-upon spread.
The fund had no borrowings outstanding at October 31, 2014, or at any time during the period
then ended.
8. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income
distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and
discounts on debt securities purchased are amortized and accreted, respectively, to interest income
over the lives of the respective securities. 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.
31
Total International Stock Index Fund
B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative,
marketing, and distribution services. The costs of such services are allocated to the fund based on
methods approved by the board of trustees. The fund has committed to invest up to 0.40% of its net
assets in Vanguard. At October 31, 2014, the fund had contributed capital of $12,972,000 to Vanguard
(included in Other Assets), representing 0.01% of the fund’s net assets and 5.19% of Vanguard’s
capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.
C. 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 October 31, 2014,
based on the inputs used to value them:
Investments
Common Stocks—North America and South America
Common Stocks—Other
Temporary Cash Investments
Futures Contracts—Assets1
Forward Currency Contracts—Assets
Forward Currency Contracts—Liabilities
Total
Level 1
($000)
Level 2
($000)
Level 3
($000)
12,192,898
2,740,608
3,887
474,739
116,727,520
83,683
3,077,640
53,994
—
14,027
—
—
—
1,310
—
—
(14,187)
—
15,759,304
119,509,245
87,570
1 Represents variation margin on the last day of the reporting period.
Securites in certain countries may transfer between Level 1 and Level 2 because of differences in
stock market closure times that may result from transitions between standard and daylight saving
time in those countries and the United States. Based on values on the date of transfer, securities
valued at $2,157,465,000 based on Level 1 inputs were transferred from Level 2 during the fiscal
year. Additionally, based on values on the date of transfer, securities valued at $2,687,981,000
based on Level 2 inputs were transferred from Level 1 during the fiscal year.
32
Total International Stock Index Fund
D. At October 31, 2014, the fair values of derivatives were reflected in the Statement of Net Assets
as follows:
Equity
Contracts
($000)
Statement of Net Assets Caption
Other Assets
Liabilities
Foreign
Exchange
Contracts
($000)
Total
($000)
14,027
1,310
15,337
—
(14,187)
(14,187)
Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the
year ended October 31, 2014, were:
Equity
Contracts
($000)
Realized Net Gain (Loss) on Derivatives
Futures Contracts
Forward Currency Contracts
Realized Net Gain (Loss) on Derivatives
Foreign
Exchange
Contracts
($000)
Total
($000)
39,720
—
39,720
—
(11,230)
(11,230)
39,720
(11,230)
28,490
(23,229)
—
(23,229)
—
(19,009)
(19,009)
(23,229)
(19,009)
(42,238)
Change in Unrealized Appreciation (Depreciation) on Derivatives
Futures Contracts
Forward Currency Contracts
Change in Unrealized Appreciation (Depreciation) on Derivatives
At October 31, 2014, the aggregate settlement value of open futures contracts and the related
unrealized appreciation (depreciation) were:
($000)
Aggregate
Settlement
Value
Long (Short)
Unrealized
Appreciation
(Depreciation)
Expiration
Number of
Long (Short)
Contracts
FTSE 100 Index
December 2014
2,002
208,367
(8,696)
Dow Jones EURO STOXX 50 Index
December 2014
4,734
183,929
(7,221)
Topix Index
December 2014
1,101
131,309
4,026
S&P ASX 200 Index
December 2014
699
84,760
1,211
E-mini S&P 500 Index
December 2014
500
50,285
3,241
Futures Contracts
(7,439)
Unrealized appreciation (depreciation) on open FTSE 100 Index, Dow Jones EURO STOXX 50
Index, and E-mini S&P 500 Index futures contracts are required to be treated as realized gain
(loss) for tax purposes.
33
Total International Stock Index Fund
At October 31, 2014, the fund had open forward currency contracts to receive and deliver currencies
as follows. Unrealized appreciation (depreciation) on open forward currency contracts is treated as
realized gain (loss) for tax purposes.
Counterparty
Contract
Settlement
Date
Contract Amount (000)
Receive
Deliver
Unrealized
Appreciation
(Depreciation)
($000)
UBS AG
12/24/14
GBP
137,868
USD
224,726
(4,271)
BNP Paribas
12/24/14
EUR
140,611
USD
182,421
(6,151)
Bank of America, N.A.
12/23/14
AUD
102,433
USD
91,907
(2,109)
Credit Suisse International
12/24/14
GBP
14,247
USD
23,162
(381)
Morgan Stanley
12/16/14
JPY
1,842,120
USD
17,195
(786)
Morgan Stanley
12/24/14
EUR
11,881
USD
15,383
(489)
BNP Paribas
12/24/14
USD
26,884
GBP
16,417
632
Bank of America, N.A.
12/16/14
USD
15,688
JPY
1,708,285
471
BNP Paribas
12/23/14
USD
6,533
AUD
7,319
117
BNP Paribas
12/16/14
USD
3,453
JPY
377,509
90
(12,877)
AUD—Australian dollar.
EUR—Euro.
GBP—British pound.
JPY—Japanese yen.
USD—U.S. dollar.
E. Distributions are determined on a tax basis and may differ from net investment income and
realized capital gains for financial reporting purposes. Differences may be permanent or temporary.
Permanent differences are reclassified among capital accounts in the financial statements to reflect
their tax character. Temporary differences arise when certain items of income, expense, gain, or loss
are recognized in different periods for financial statement and tax purposes. These differences will
reverse at some time in the future. Differences in classification may also result from the treatment
of short-term gains as ordinary income for tax purposes.
During the year ended October 31, 2014, the fund realized net foreign currency losses of $30,767,000,
which decreased distributable net income for tax purposes; accordingly, such losses have been
reclassified from accumulated net realized losses to undistributed net investment income. Certain
of the fund’s investments are in securities considered to be passive foreign investment companies,
for which any unrealized appreciation and/or realized gains are required to be included in distributable
net income for tax purposes. During the year ended October 31, 2014, the fund realized gains on the
sale of passive foreign investment companies of $13,748,000, which have been included in current
and prior periods’ taxable income; accordingly, such gains have been reclassified from accumulated
net realized losses to undistributed net investment income. Passive foreign investment companies
held at October 31, 2014, had unrealized appreciation of $381,866,000.
34
Total International Stock Index Fund
During the year ended October 31, 2014, the fund realized $4,947,000 of net capital gains resulting
from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the
fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to
shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.
For tax purposes, at October 31, 2014, the fund had $677,321,000 of ordinary income available for
distribution. The fund used capital loss carryforwards of $706,293,000 to offset taxable capital gains
realized during the year ended October 31, 2014. At October 31, 2014, the fund had available capital
losses totaling $463,013,000 to offset future net capital gains through October 31, 2017.
At October 31, 2014, the cost of investment securities for tax purposes was $125,168,633,000. Net
unrealized appreciation of investment securities for tax purposes was $10,186,336,000, consisting
of unrealized gains of $21,504,066,000 on securities that had risen in value since their purchase and
$11,317,730,000 in unrealized losses on securities that had fallen in value since their purchase.
F. During the year ended October 31, 2014, the fund purchased $30,708,463,000 of investment
securities and sold $3,254,273,000 of investment securities, other than temporary cash investments.
Purchases and sales include $1,271,335,000 and $9,947,000, respectively, in connection with in-kind
purchases and redemptions of the fund’s capital shares.
G. Capital share transactions for each class of shares were:
Year Ended October 31,
2014
Amount
($000)
Shares
(000)
Issued
9,303,349
Issued in Lieu of Cash Distributions
1,523,991
2013
Amount
($000)
Shares
(000)
563,187
7,729,601
505,198
91,155
1,297,848
86,811
(3,953,231)
(237,198)
(5,654,937)
(365,930)
6,874,109
417,144
3,372,512
226,079
12,409,332
444,554
4,839,204
187,784
728,068
25,999
523,852
20,925
Redeemed
(2,428,227)
(86,941)
(1,871,686)
(72,877)
Net Increase (Decrease)—Admiral Shares
10,709,173
383,612
3,491,370
135,832
1,413,050
42,230
2,320,703
75,263
129,836
3,891
133,247
4,437
(6,937,411)
(207,962)
(1,325,074)
(42,607)
(5,394,525)
(161,841)
1,128,876
37,093
4,631,261
41,269
4,566,743
44,639
382,641
3,420
282,389
2,820
Redeemed
(2,551,201)
(22,745)
(2,305,404)
(22,352)
Net Increase (Decrease)—Institutional Shares
2,462,701
21,944
2,543,728
25,107
Investor Shares
Redeemed
Net Increase (Decrease)—Investor Shares
Admiral Shares
Issued1
Issued in Lieu of Cash Distributions
Signal Shares
Issued
Issued in Lieu of Cash Distributions
Redeemed1
Net Increase (Decrease)—Signal Shares
Institutional Shares
Issued
Issued in Lieu of Cash Distributions
35
Total International Stock Index Fund
Year Ended October 31,
2014
2013
Amount
($000)
Shares
(000)
Amount
($000)
Shares
(000)
12,404,005
111,084
7,960,601
77,447
903,727
8,072
524,781
5,233
Redeemed
(1,142,305)
(10,174)
(1,665,125)
(16,374)
Net Increase (Decrease)—Institutional Plus Shares
12,165,427
108,982
6,820,257
66,306
1,253,978
24,021
1,043,278
21,792
—
—
—
—
(10,434)
(200)
(52,914)
(1,100)
1,243,544
23,821
990,364
20,692
Institutional Plus Shares
Issued
Issued in Lieu of Cash Distributions
ETF Shares
Issued
Issued in Lieu of Cash Distributions
Redeemed
Net Increase (Decrease)—ETF Shares
1 Admiral Shares Issued and Signal Shares Redeemed include $4,028,000,000 from the conversion of Signal Shares to Admiral Shares during
the 2014 fiscal year.
H. Management has determined that no material events or transactions occurred subsequent to
October 31, 2014, that would require recognition or disclosure in these financial statements.
36
Report of Independent Registered
Public Accounting Firm
To the Board of Trustees of Vanguard STAR Funds and the Shareholders of Vanguard Total
International Stock Index Fund:
In our opinion, the accompanying statement of net assets—investments summary and the related
statements of operations and of changes in net assets and the financial highlights present fairly, in all
material respects, the financial position of Vanguard Total International Stock Index Fund (constituting
a separate portfolio of Vanguard STAR Funds, hereafter referred to as the “Fund”) at October 31, 2014,
the results of its operations for the year then ended, the changes in its net assets for each of the
two years in the period then ended, and the financial highlights for each of the periods indicated, in
conformity with accounting principles generally accepted in the United States of America. These
financial statements and financial highlights (hereafter referred to as “financial statements”) are
the responsibility of the Fund’s management. Our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits of these financial statements in
accordance with the standards of the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on
a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing
the accounting principles used and significant estimates made by management, and evaluating the
overall financial statement presentation. We believe that our audits, which included confirmation of
securities at October 31, 2014 by correspondence with the custodian and brokers, by agreement
to the underlying ownership records of the transfer agent and the application of alternative auditing
procedures where securities purchased had not been received, provide a reasonable basis for
our opinion.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
December 11, 2014
Special 2014 tax information (unaudited) for Vanguard Total International Stock Index Fund
This information for the fiscal year ended October 31, 2014, is included pursuant to provisions of
the Internal Revenue Code.
The fund distributed $2,772,799,000 of qualified dividend income to shareholders during the
fiscal year.
The fund designates to shareholders foreign source income of $3,602,900,000 and foreign taxes paid
of $207,740,000. Shareholders will receive more detailed information with their Form 1099-DIV in
January 2014 to determine the calendar-year amounts to be included on their 2014 tax returns.
37
Your Fund’s After-Tax Returns
This table presents returns for your fund both before and after taxes. The after-tax returns are shown
in two ways: (1) assuming that an investor owned the fund during the entire period and paid taxes
on the fund’s distributions, and (2) assuming that an investor paid taxes on the fund’s distributions
and sold all shares at the end of each period.
Calculations are based on the highest individual federal income tax and capital gains tax rates in
effect at the times of the distributions and the hypothetical sales. State and local taxes were not
considered. After-tax returns reflect any qualified dividend income, using actual prior-year figures and
estimates for 2014. (In the example, returns after the sale of fund shares may be higher than those
assuming no sale. This occurs when the sale would have produced a capital loss. The calculation
assumes that the investor received a tax deduction for the loss.)
The table shows returns for Investor Shares only; returns for other share classes will differ. Please
note that your actual after-tax returns will depend on your tax situation and may differ from those
shown. Also note that if you own the fund in a tax-deferred account, such as an individual retirement
account or a 401(k) plan, this information does not apply to you. Such accounts are not subject to
current taxes.
Finally, keep in mind that a fund’s performance—whether before or after taxes—does not guarantee
future results.
Average Annual Total Returns: Total International Stock Index Fund Investor Shares
Periods Ended October 31, 2014
One
Year
Ten
Years
Returns Before Taxes
1.00%
6.28%
6.41%
Returns After Taxes on Distributions
-0.05
5.59
5.81
0.91
4.89
5.15
Returns After Taxes on Distributions and Sale of Fund Shares
38
Five
Years
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.
39
Six Months Ended October 31, 2014
Beginning
Account Value
4/30/2014
Ending
Account Value
10/31/2014
Expenses
Paid During
Period
Investor Shares
$1,000.00
$975.98
$1.10
Admiral Shares
1,000.00
976.78
0.70
Institutional Shares
1,000.00
976.84
0.60
Institutional Plus Shares
1,000.00
976.95
0.50
ETF Shares
1,000.00
976.88
0.70
Investor Shares
$1,000.00
$1,024.10
$1.12
Admiral Shares
1,000.00
1,024.50
0.71
Institutional Shares
1,000.00
1,024.60
0.61
Institutional Plus Shares
1,000.00
1,024.70
0.51
ETF Shares
1,000.00
1,024.50
0.71
Total International Stock Index Fund
Based on Actual Fund Return
Based on Hypothetical 5% Yearly Return
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 0.22% for Investor Shares, 0.14% for Admiral Shares, 0.12% for Institutional Shares, 0.10% for Institutional Plus Shares, and
0.14% for ETF 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.
40
Glossary
Beta. A measure of the magnitude of a fund’s past share-price fluctuations in relation to the ups and
downs of a given market index. The index is assigned a beta of 1.00. Compared with a given index,
a fund with a beta of 1.20 typically would have seen its share price rise or fall by 12% when the
index rose or fell by 10%. For this report, beta is based on returns over the past 36 months for both
the fund and the index. Note that a fund’s beta should be reviewed in conjunction with its R-squared
(see definition). The lower the R-squared, the less correlation there is between the fund and the
index, and the less reliable beta is as an indicator of volatility.
Dividend Yield. Dividend income earned by stocks, expressed as a percentage of the aggregate
market value (or of net asset value, for a fund). The yield is determined by dividing the amount of the
annual dividends by the aggregate value (or net asset value) at the end of the period. For a fund, the
dividend yield is based solely on stock holdings and does not include any income produced by other
investments.
Earnings Growth Rate. The average annual rate of growth in earnings over the past five years for
the stocks now in a fund.
Equity Exposure. A measure that reflects a fund’s investments in stocks and stock futures. Any
holdings in short-term reserves are excluded.
Expense Ratio. A fund’s total annual operating expenses expressed as a percentage of the fund’s
average net assets. The expense ratio includes management and administrative expenses, but does
not include the transaction costs of buying and selling portfolio securities.
Inception Date. The date on which the assets of a fund (or one of its share classes) are first
invested in accordance with the fund’s investment objective. For funds with a subscription period,
the inception date is the day after that period ends. Investment performance is measured from the
inception date.
Median Market Cap. An indicator of the size of companies in which a fund invests; the midpoint of
market capitalization (market price x shares outstanding) of a fund’s stocks, weighted by the
proportion of the fund’s assets invested in each stock. Stocks representing half of the fund’s assets
have market capitalizations above the median, and the rest are below it.
Price/Book Ratio. The share price of a stock divided by its net worth, or book value, per share. For a
fund, the weighted average price/book ratio of the stocks it holds.
Price/Earnings Ratio. The ratio of a stock’s current price to its per-share earnings over the past
year. For a fund, the weighted average P/E of the stocks it holds. P/E is an indicator of market
expectations about corporate prospects; the higher the P/E, the greater the expectations for a
company’s future growth.
R-Squared. A measure of how much of a fund’s past returns can be explained by the returns from
the market in general, as measured by a given index. If a fund’s total returns were precisely
synchronized with an index’s returns, its R-squared would be 1.00. If the fund’s returns bore no
relationship to the index’s returns, its R-squared would be 0. For this report, R-squared is based on
returns over the past 36 months for both the fund and the index.
41
Return on Equity. The annual average rate of return generated by a company during the past five
years for each dollar of shareholder’s equity (net income divided by shareholder’s equity). For a fund,
the weighted average return on equity for the companies whose stocks it holds.
Short-Term Reserves. The percentage of a fund invested in highly liquid, short-term securities that
can be readily converted to cash.
Turnover Rate. An indication of the fund’s trading activity. Funds with high turnover rates incur
higher transaction costs and may be more likely to distribute capital gains (which may be taxable to
investors). The turnover rate excludes in-kind transactions, which have minimal impact on costs.
Benchmark Information
Spliced Total International Stock Index: Total International Composite Index through August 31,
2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex USA IMI
Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter. Benchmark returns are
adjusted for withholding taxes.
42
The People Who Govern Your Fund
The trustees of your mutual fund are there to see that the fund is operated and managed in your best
interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on
the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and
provides services to them on an at-cost basis.
A majority of Vanguard’s board members are independent, meaning that they have no affiliation with
Vanguard or the funds they oversee, apart from the sizable personal investments they have made as
private individuals. The independent board members have distinguished backgrounds in business,
academia, and public service. Each of the trustees and executive officers oversees 177 Vanguard funds.
The following table provides information for each trustee and executive officer of the fund. More
information about the trustees is in the Statement of Additional Information, which can be obtained,
without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.
Interested Trustee1
F. William McNabb III
Born 1957. Trustee Since July 2009. Chairman of the
Board. Principal Occupation(s) During the Past Five
Years: Chairman of the Board of The Vanguard Group,
Inc., and of each of the investment companies served
by The Vanguard Group, since January 2010; Director
of The Vanguard Group since 2008; Chief Executive
Officer and President of The Vanguard Group, and of
each of the investment companies served by The
Vanguard Group, since 2008; Director of Vanguard
Marketing Corporation; Managing Director of The
Vanguard Group (1995–2008).
Independent Trustees
Emerson U. Fullwood
Born 1948. Trustee Since January 2008. Principal
Occupation(s) During the Past Five Years: Executive
Chief Staff and Marketing Officer for North America
and Corporate Vice President (retired 2008) of Xerox
Corporation (document management products and
services); Executive in Residence and 2009–2010
Distinguished Minett Professor at the Rochester
Institute of Technology; Director of SPX Corporation
(multi-industry manufacturing), the United Way of
Rochester, Amerigroup Corporation (managed health
care), the University of Rochester Medical Center,
Monroe Community College Foundation, and North
Carolina A&T University.
Rajiv L. Gupta
Born 1945. Trustee Since December 2001. 2
Principal Occupation(s) During the Past Five Years:
Chairman and Chief Executive Officer (retired 2009)
and President (2006–2008) of Rohm and Haas Co.
(chemicals); Director of Tyco International, Ltd.
(diversified manufacturing and services), HewlettPackard Co. (electronic computer manufacturing),
and Delphi Automotive LLP (automotive components);
Senior Advisor at New Mountain Capital.
Amy Gutmann
Born 1949. Trustee Since June 2006. Principal
Occupation(s) During the Past Five Years: President of
the University of Pennsylvania; Christopher H. Browne
Distinguished Professor of Political Science, School of
Arts and Sciences, and Professor of Communication,
Annenberg School for Communication, with secondary
faculty appointments in the Department of Philosophy,
School of Arts and Sciences, and at the Graduate
School of Education, University of Pennsylvania;
Trustee of the National Constitution Center; Chair
of the Presidential Commission for the Study of
Bioethical Issues.
JoAnn Heffernan Heisen
Born 1950. Trustee Since July 1998. Principal
Occupation(s) During the Past Five Years: Corporate
Vice President and Chief Global Diversity Officer
(retired 2008) and Member of the Executive
Committee (1997–2008) of Johnson & Johnson
(pharmaceuticals/medical devices/consumer
products); Director of Skytop Lodge Corporation
(hotels), the University Medical Center at Princeton,
the Robert Wood Johnson Foundation, and the Center
for Talent Innovation; Member of the Advisory Board
of the Maxwell School of Citizenship and Public Affairs
at Syracuse University.
F. Joseph Loughrey
Born 1949. Trustee Since October 2009. Principal
Occupation(s) During the Past Five Years: President
and Chief Operating Officer (retired 2009) of Cummins
Inc. (industrial machinery); Chairman of the Board
of Hillenbrand, Inc. (specialized consumer services),
and of Oxfam America; Director of SKF AB (industrial
machinery), Hyster-Yale Materials Handling, Inc.
(forklift trucks), the Lumina Foundation for Education,
and the V Foundation for Cancer Research; Member
of the Advisory Council for the College of Arts and
Letters and of the Advisory Board to the Kellogg
Institute for International Studies, both at the
University of Notre Dame.
Mark Loughridge
Born 1953. Trustee Since March 2012. Principal
Occupation(s) During the Past Five Years: Senior Vice
President and Chief Financial Officer (retired 2013)
at IBM (information technology services); Fiduciary
Member of IBM’s Retirement Plan Committee (2004–
2013); Member of the Council on Chicago Booth.
Scott C. Malpass
Born 1962. Trustee Since March 2012. Principal
Occupation(s) During the Past Five Years: Chief
Investment Officer and Vice President at the University
of Notre Dame; Assistant Professor of Finance at the
Mendoza College of Business at Notre Dame; Member
of the Notre Dame 403(b) Investment Committee;
Board Member of TIFF Advisory Services, Inc.
(investment advisor); Member of the Investment
Advisory Committees of the Financial Industry
Regulatory Authority (FINRA) and of Major League
Baseball.
AndrГ© F. Perold
Born 1952. Trustee Since December 2004. Principal
Occupation(s) During the Past Five Years: George
Gund Professor of Finance and Banking, Emeritus
at the Harvard Business School (retired 2011);
Chief Investment Officer and Managing Partner of
HighVista Strategies LLC (private investment firm);
Director of Rand Merchant Bank; Overseer of the
Museum of Fine Arts Boston.
Alfred M. Rankin, Jr.
Born 1941. Trustee Since January 1993. Principal
Occupation(s) During the Past Five Years: Chairman,
President, and Chief Executive Officer of NACCO
Industries, Inc. (housewares/lignite), and of HysterYale Materials Handling, Inc. (forklift trucks); Chairman
of the Board of University Hospitals of Cleveland.
Peter F. Volanakis
Born 1955. Trustee Since July 2009. Principal
Occupation(s) During the Past Five Years: President
and Chief Operating Officer (retired 2010) of Corning
Incorporated (communications equipment); Trustee of
Colby-Sawyer College; Member of the Advisory Board
of the Norris Cotton Cancer Center and of the Advisory
Board of the Parthenon Group (strategy consulting).
Executive Officers
Glenn Booraem
Born 1967. Controller Since July 2010. Principal
Occupation(s) During the Past Five Years: Principal
of The Vanguard Group, Inc.; Controller of each of
the investment companies served by The Vanguard
Group; Assistant Controller of each of the investment
companies served by The Vanguard Group (2001–2010).
Thomas J. Higgins
Born 1957. Chief Financial Officer Since September
2008. Principal Occupation(s) During the Past Five
Years: Principal of The Vanguard Group, Inc.; Chief
Financial Officer of each of the investment companies
served by The Vanguard Group; Treasurer of each of
the investment companies served by The Vanguard
Group (1998–2008).
Kathryn J. Hyatt
Born 1955. Treasurer Since November 2008. Principal
Occupation(s) During the Past Five Years: Principal of
The Vanguard Group, Inc.; Treasurer of each of the
investment companies served by The Vanguard
Group; Assistant Treasurer of each of the investment
companies served by The Vanguard Group (1988–2008).
Heidi Stam
Born 1956. Secretary Since July 2005. Principal
Occupation(s) During the Past Five Years: Managing
Director of The Vanguard Group, Inc.; General Counsel
of The Vanguard Group; Secretary of The Vanguard
Group and of each of the investment companies
served by The Vanguard Group; Director and Senior
Vice President of Vanguard Marketing Corporation.
Vanguard Senior Management Team
Mortimer J. Buckley
Kathleen C. Gubanich
Paul A. Heller
Martha G. King
John T. Marcante
Chris D. McIsaac
Michael S. Miller
James M. Norris
Glenn W. Reed
Chairman Emeritus and Senior Advisor
John J. Brennan
Chairman, 1996–2009
Chief Executive Officer and President, 1996–2008
Founder
John C. Bogle
Chairman and Chief Executive Officer, 1974–1996
1 Mr. McNabb is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the
Vanguard funds.
2 December 2002 for Vanguard Equity Income Fund, the Vanguard Municipal Bond Funds, and the Vanguard State Tax-Exempt Funds.
P.O. Box 2600
Valley Forge, PA 19482-2600
Connect with VanguardВ® > vanguard.com
Fund Information > 800-662-7447
Direct Investor Account Services > 800-662-2739
Institutional Investor Services > 800-523-1036
Text Telephone for People
Who Are Deaf or Hard of Hearing > 800-749-7273
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.
All comparative mutual fund data are from Lipper, a
Thomson Reuters Company, or Morningstar, Inc., unless
otherwise noted.
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, 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 sec.gov.
You can review and copy information about your fund at
the SEC’s Public Reference Room in Washington, D.C. To
find out more about this public service, call the SEC at
202-551-8090. Information about your fund is also
available on the SEC’s website, and you can receive
copies of this information, for a fee, by sending a
request in either of two ways: via e-mail addressed to
[email protected] or via regular mail addressed to the
Public Reference Section, Securities and Exchange
Commission, Washington, DC 20549-1520.
В© 2014 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Q1130 122014
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
390
—
10,203,463
20,348,892
19,529,633
17,478,899
15,001,031
7,219,867
7,781,480
3,249,018
4,542,266
2,761,633
27,792,000
8,162,973
32,841,616
1,848,188
18,562,036
6,879,798
8,501,464
12,246,929
14,567,505
9,842,871
11,387,852
7,649,598
6,056,498
7,271,639
14,607,464
12,990,096
10,845,140
4,180,206
3,406,755
2,307,313
2,507,012
11,196,187
36,542,295
1,218,485
818,060
4,724,082
23,256,200
5,137,015
6,196,336
3,138,895
10,195,134
2,125,799
2,407,404
2,780,927
2,759,677
3,405,852
8,743,031
10,316,812
14,201,927
6,623,224
2,183,720
856,506
361,910
3,671,728
3,936,801
15,416,603
9,069,804
4,876,338
4,263,437
725,720
607,367
600,489
517,295
463,608
281,522
247,163
230,027
160,920
147,359
138,012
105,591
102,749
99,901
95,975
86,682
86,530
85,826
83,866
82,902
81,840
79,162
69,023
55,470
54,827
53,735
53,122
50,072
47,111
42,057
41,354
40,705
39,076
38,705
37,743
37,703
36,851
35,688
34,310
34,032
31,627
31,161
30,795
30,542
30,323
27,482
26,777
26,560
26,335
25,769
24,330
23,490
23,464
22,524
22,286
22,273
21,796
21,600
21,352
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Common Stocks (99.5%)1
Argentina (0.0%)
Siderar SAIC Class A
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Australia (5.5%)
Commonwealth Bank of Australia
BHP Billiton Ltd.
Westpac Banking Corp.
Australia & New Zealand Banking Group Ltd.
National Australia Bank Ltd.
Wesfarmers Ltd.
Woolworths Ltd.
CSL Ltd.
Woodside Petroleum Ltd.
Rio Tinto Ltd.
Telstra Corp. Ltd.
Suncorp Group Ltd.
*
Scentre Group
Macquarie Group Ltd.
AMP Ltd.
Origin Energy Ltd.
QBE Insurance Group Ltd.
*
Westfield Corp.
Insurance Australia Group Ltd.
Brambles Ltd.
Transurban Group
Amcor Ltd.
Santos Ltd.
Oil Search Ltd.
Stockland
Aurizon Holdings Ltd.
Goodman Group
AGL Energy Ltd.
Lend Lease Group
Orica Ltd.
Sonic Healthcare Ltd.
GPT Group
Dexus Property Group
ASX Ltd.
Ramsay Health Care Ltd.
*
Newcrest Mining Ltd.
Mirvac Group
APA Group
Asciano Ltd.
Computershare Ltd.
Fortescue Metals Group Ltd.
Seek Ltd.
Crown Resorts Ltd.
James Hardie Industries plc
Bendigo & Adelaide Bank Ltd.
Coca-Cola Amatil Ltd.
Tatts Group Ltd.
Incitec Pivot Ltd.
Novion Property Group
Sydney Airport
Bank of Queensland Ltd.
Caltex Australia Ltd.
Cochlear Ltd.
Challenger Ltd.
Aristocrat Leisure Ltd.
*
Alumina Ltd.
Federation Centres
Boral Ltd.
Toll Holdings Ltd.
1
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
5,208,392
2,656,871
972,001
7,831,982
4,074,155
4,640,713
1,368,856
3,536,015
1,898,522
5,587,904
331,587
351,884
10,608,295
1,289,059
634,907
2,979,001
3,824,399
2,354,855
1,817,768
7,571,979
2,707,244
275,379
2,321,201
3,237,355
7,092,001
1,958,522
1,006,994
3,179,642
4,377,858
387,322
2,097,183
1,940,934
2,675,229
1,137,246
622,728
2,836,296
2,897,294
8,069,653
1,426,674
9,227,455
10,690,437
640,890
2,727,426
1,081,179
3,673,996
694,064
3,303,081
1,867,151
1,967,048
3,808,566
2,587,271
785,117
291,767
1,950,771
874,589
4,095,217
1,211,526
1,050,726
4,178,546
11,185,480
3,674,482
543,461
845,464
886,477
18,062
17,601
17,076
16,980
16,718
16,668
16,408
16,392
15,158
13,968
13,279
13,031
12,872
12,357
12,347
12,242
12,012
11,727
11,673
11,616
11,357
11,323
10,965
10,856
10,546
10,033
9,916
9,691
9,460
9,297
9,251
9,062
8,852
8,783
8,570
8,413
8,374
8,306
8,286
8,104
7,705
7,631
7,547
7,502
7,442
7,433
7,345
7,205
7,061
6,932
6,925
6,839
6,692
6,684
6,584
6,542
6,540
6,463
6,339
6,304
6,290
6,020
5,979
5,736
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
^
*
*
*,^
^
^
*,^
^
^
Echo Entertainment Group Ltd.
Iluka Resources Ltd.
Ansell Ltd.
DUET Group
Treasury Wine Estates Ltd.
Tabcorp Holdings Ltd.
WorleyParsons Ltd.
BlueScope Steel Ltd.
IOOF Holdings Ltd.
Metcash Ltd.
REA Group Ltd.
Flight Centre Travel Group Ltd.
AusNet Services
carsales.com Ltd.
Leighton Holdings Ltd.
Primary Health Care Ltd.
Investa Office Fund
ALS Ltd.
TPG Telecom Ltd.
Orora Ltd.
Downer EDI Ltd.
Perpetual Ltd.
DuluxGroup Ltd.
Harvey Norman Holdings Ltd.
Qantas Airways Ltd.
Recall Holdings Ltd.
Sims Metal Management Ltd.
CSR Ltd.
Qube Holdings Ltd.
Domino's Pizza Enterprises Ltd.
G8 Education Ltd.
Navitas Ltd.
Liquefied Natural Gas Ltd.
GrainCorp Ltd. Class A
JB Hi-Fi Ltd.
Adelaide Brighton Ltd.
nib holdings Ltd.
Beach Energy Ltd.
Platinum Asset Management Ltd.
Cromwell Property Group
Fairfax Media Ltd.
Magellan Financial Group Ltd.
Ardent Leisure Group
M2 Group Ltd.
Veda Group Ltd.
Invocare Ltd.
BWP Trust
Charter Hall Group
Charter Hall Retail REIT
Nine Entertainment Co. Holdings Ltd.
Macquarie Atlas Roads Group
Iress Ltd.
Sirtex Medical Ltd.
OZ Minerals Ltd.
Mineral Resources Ltd.
Shopping Centres Australasia Property Group
Slater & Gordon Ltd.
UGL Ltd.
Seven West Media Ltd.
Goodman Fielder Ltd.
Myer Holdings Ltd.
Monadelphous Group Ltd.
iiNET Ltd.
Super Retail Group Ltd.
2
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,423,764
3,770,457
3,300,474
6,605,156
17,552,598
7,398,520
3,690,020
1,460,899
1,276,457
809,081
3,109,911
1,089,005
1,729,802
1,962,389
499,666
951,332
958,852
1,282,154
388,139
2,361,149
1,321,718
1,743,663
1,088,370
513,969
1,125,032
2,280,475
617,265
813,985
1,045,036
725,702
1,334,005
7,193,081
543,308
771,454
3,191,849
1,675,764
3,466,623
586,770
1,525,882
2,432,883
1,354,893
312,005
896,808
3,355,374
1,458,678
4,237,517
435,926
529,360
2,068,361
1,053,443
2,229,744
883,280
774,342
4,256,553
950,626
6,012,059
7,330,704
2,382,351
374,543
7,709,017
11,312,430
1,081,737
1,158,865
1,611,873
5,719
5,705
5,548
5,243
5,200
5,066
4,950
4,925
4,903
4,868
4,814
4,773
4,756
4,744
4,723
4,719
4,705
4,592
4,501
4,315
4,187
4,155
4,044
3,908
3,788
3,753
3,724
3,721
3,567
3,567
3,488
3,402
3,370
3,362
3,288
3,258
3,237
3,234
3,035
3,010
2,993
2,942
2,931
2,909
2,871
2,803
2,758
2,745
2,703
2,655
2,645
2,624
2,621
2,585
2,542
2,493
2,484
2,479
2,459
2,378
2,265
2,258
2,253
2,199
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*,^
^
*
*
*,^
*
*,^
*
*
*
*
*
*
^
*,^
*
*
*
*,^
*
*
Independence Group NL
PanAust Ltd.
Transfield Services Ltd.
Transpacific Industries Group Ltd.
Arrium Ltd.
Sigma Pharmaceuticals Ltd.
Whitehaven Coal Ltd.
Automotive Holdings Group Ltd.
Western Areas Ltd.
Breville Group Ltd.
AWE Ltd.
Nufarm Ltd.
Sirius Resources NL
GWA Group Ltd.
Premier Investments Ltd.
Sandfire Resources NL
Cardno Ltd.
SAI Global Ltd.
ARB Corp. Ltd.
Aveo Group
FlexiGroup Ltd.
Abacus Property Group
Mesoblast Ltd.
Greencross Ltd.
Pact Group Holdings Ltd.
Mermaid Marine Australia Ltd.
Seven Group Holdings Ltd.
Bega Cheese Ltd.
Bradken Ltd.
Retail Food Group Ltd.
Karoon Gas Australia Ltd.
Senex Energy Ltd.
Village Roadshow Ltd.
Cabcharge Australia Ltd.
Sundance Energy Australia Ltd.
Cover-More Group Ltd.
Northern Star Resources Ltd.
BT Investment Management Ltd.
New Hope Corp. Ltd.
Australian Agricultural Co. Ltd.
OzForex Group Ltd.
McMillan Shakespeare Ltd.
Tassal Group Ltd.
Southern Cross Media Group Ltd.
Amcom Telecommunications Ltd.
APN News & Media Ltd.
GUD Holdings Ltd.
Vocus Communications Ltd.
Steadfast Group Ltd.
Growthpoint Properties Australia Ltd.
Regis Resources Ltd.
Technology One Ltd.
Syrah Resources Ltd.
Roc Oil Co. Ltd.
Ainsworth Game Technology Ltd.
Pacific Brands Ltd.
Virgin Australia Holdings Ltd.
Drillsearch Energy Ltd.
Virtus Health Ltd.
Energy World Corp. Ltd.
Ten Network Holdings Ltd.
SKILLED Group Ltd.
Dick Smith Holdings Ltd.
TFS Corp. Ltd.
3
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
830,657
1,399,930
74,425
3,208,618
351,643
2,822,267
937,749
3,549,945
7,936,354
2,008,659
240,220
6,324,630
2,443,120
988,669
749,068
1,773,073
4,262,608
790,316
2,008,097
5,486,402
667,490
1,325,409
510,139
2,867,930
436,390
6,435,008
638,003
363,206
185,127
881,484
1,139,805
812,738
1,035,336
1,636,672
747,582
4,647,810
996,540
1,685,958
1,953,210
4,383,020
4,705,279
1,609,262
1,000,202
3,500,881
4,422,465
3,591,108
16,268,629
1,642,190
107,626
1,347,985
1,524,457
3,435,073
1,014,047
481,811
13,665,171
1,471,028
1,662,839
573,281
3,314,276
66,577
2,781,424
1,186,419
833,488
623,537
2,195
2,176
2,161
2,151
2,147
2,146
2,089
2,083
2,065
2,049
2,048
1,824
1,774
1,736
1,705
1,702
1,700
1,700
1,661
1,627
1,601
1,564
1,543
1,521
1,507
1,483
1,429
1,419
1,351
1,335
1,330
1,303
1,265
1,198
1,198
1,146
1,134
1,124
1,085
1,065
1,018
974
969
953
944
918
892
866
858
829
827
819
810
808
797
779
724
696
658
652
640
627
620
595
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*,^
*,^
*,^
*,^
*,^
^
^
*,^
*
^
^
*,^
*
*,^
*,^
*
*,^
*,^
^
*
*,^
*,^
*,^
*,^
*,^
*,^
*
^
*,^
*
*
*,^
*,^
*,^
^
Wotif.com Holdings Ltd.
Platinum Capital Ltd.
Blackmores Ltd.
Mayne Pharma Group Ltd.
Cedar Woods Properties Ltd.
GDI Property Group
Thorn Group Ltd.
Billabong International Ltd.
Horizon Oil Ltd.
STW Communications Group Ltd.
Credit Corp. Group Ltd.
Paladin Energy Ltd.
Australian Pharmaceutical Industries Ltd.
NEXTDC Ltd.
Programmed Maintenance Services Ltd.
Cash Converters International Ltd.
Mount Gibson Iron Ltd.
Tox Free Solutions Ltd.
Linc Energy Ltd.
Atlas Iron Ltd.
RCR Tomlinson Ltd.
Hills Ltd.
Webjet Ltd.
Evolution Mining Ltd.
SMS Management & Technology Ltd.
Tiger Resources Ltd.
iProperty Group Ltd.
Astro Japan Property Group
Reject Shop Ltd.
Sunland Group Ltd.
MACA Ltd.
ERM Power Ltd.
CuDeco Ltd.
UXC Ltd.
Decmil Group Ltd.
Indophil Resources NL
Energy Resources of Australia Ltd.
NRW Holdings Ltd.
Starpharma Holdings Ltd.
Saracen Mineral Holdings Ltd.
Boart Longyear Ltd.
Buru Energy Ltd.
Acrux Ltd.
Resolute Mining Ltd.
Beadell Resources Ltd.
Perseus Mining Ltd.
Sundance Resources Ltd.
Ausdrill Ltd.
Newcrest Mining Ltd. ADR
Kingsgate Consolidated Ltd.
Tap Oil Ltd.
Infigen Energy
Vocation Ltd.
Oakton Ltd.
Lynas Corp. Ltd.
Panoramic Resources Ltd.
Crowe Horwath Australasia Ltd.
Mineral Deposits Ltd.
Intrepid Mines Ltd.
Sims Metal Management Ltd. ADR
Silver Lake Resources Ltd.
Imdex Ltd.
Watpac Ltd.
BC Iron Ltd.
4
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,164,902
3,496,582
341,941
5,743,072
913,826
948,043
884,942
3,024,191
1,302,691
2,282,838
3,440
5,925,255
593
570
521
500
494
470
452
426
420
241
129
68
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*,^
*,^
*,^
*,^
*
*
*
Medusa Mining Ltd.
Emeco Holdings Ltd.
Fleetwood Corp. Ltd.
Macmahon Holdings Ltd.
Mincor Resources NL
Troy Resources Ltd.
Silex Systems Ltd.
Gunns Ltd.
Kingsrose Mining Ltd.
Kagara Ltd.
Gunns Ltd.
Nexus Energy Ltd.
7,365,907
Austria (0.2%)
Erste Group Bank AG
OMV AG
Voestalpine AG
ANDRITZ AG
*
IMMOFINANZ AG
Raiffeisen Bank International AG
Vienna Insurance Group AG Wiener Versicherung Gruppe
Oesterreichische Post AG
CA Immobilien Anlagen AG
Wienerberger AG
^
Verbund AG
Schoeller-Bleckmann Oilfield Equipment AG
Flughafen Wien AG
BUWOG AG
Atrium European Real Estate Ltd.
Mayr Melnhof Karton AG
Conwert Immobilien Invest SE
RHI AG
Zumtobel Group AG
Lenzing AG
Semperit AG Holding
S IMMO AG
Strabag SE
EVN AG
Telekom Austria AG
Palfinger AG
*
Kapsch TrafficCom AG
1,849,553
913,506
711,220
461,081
6,086,491
744,628
242,031
214,579
510,576
728,920
419,524
70,689
65,718
321,084
1,044,114
50,746
381,357
160,799
173,437
52,451
60,270
339,210
117,037
190,349
305,251
69,253
28,349
47,232
28,758
28,486
22,281
18,419
15,983
11,649
10,481
9,783
8,816
8,492
6,103
6,033
5,931
5,468
5,443
4,231
4,124
3,059
3,032
2,990
2,612
2,535
2,411
2,287
1,613
597
___________
268,849
Belgium (0.9%)
Anheuser-Busch InBev NV
*
KBC Groep NV
UCB SA
Solvay SA Class A
Ageas
Delhaize Group SA
Groupe Bruxelles Lambert SA
Belgacom SA
Umicore SA
RTL Group SA
Ackermans & van Haaren NV
Colruyt SA
*
Telenet Group Holding NV
bpost SA
Cofinimmo SA
Sofina SA
Elia System Operator SA
Befimmo SA
5,057,692
1,746,022
773,287
357,210
1,345,010
643,357
491,259
887,598
697,866
246,197
156,902
428,106
309,716
631,872
109,545
107,762
166,985
104,187
5
560,516
93,769
62,475
48,731
44,949
44,020
43,906
33,513
27,339
23,015
19,570
19,515
17,533
15,648
12,723
11,678
8,284
8,033
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
194,715
226,423
1,967,134
171,884
134,793
120,984
473,019
70,096
44,158
186,181
51,299
110,133
97,242
1,032,118
422,946
351,501
125,032
109,031
42,807
59,850
179,804
11,488
42,464
2,875,273
7,794
7,118
6,633
6,229
6,158
5,498
5,016
5,007
4,778
3,994
3,781
2,860
2,819
2,604
2,306
2,271
2,185
2,132
1,983
1,940
1,582
1,400
1,173
98
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*,^
*,^
*
*,^
*
*
*
*
^
*,^
*,^
Arseus NV
NV Bekaert SA
Nyrstar (Voting Shares)
D'ieteren SA
Melexis NV
Gimv NV
Euronav NV
Warehouses De Pauw SCA
Cie d'Entreprises CFE
Mobistar SA
Barco NV
Tessenderlo Chemie NV (Voting Shares)
KBC Ancora
AGFA-Gevaert NV
RHJ International SA
Econocom Group SA
Ion Beam Applications
Cie Maritime Belge SA
Van de Velde NV
EVS Broadcast Equipment SA
ThromboGenics NV
Wereldhave Belgium NV
Intervest Offices & Warehouses NV
Dexia SA
1,182,576
Brazil (2.1%)
Itau Unibanco Holding SA Preference Shares
AMBEV SA
Banco Bradesco SA Preference Shares
Petroleo Brasileiro SA Preference Shares
BRF SA
Petroleo Brasileiro SA
Itau Unibanco Holding SA ADR
Itausa - Investimentos Itau SA Preference Shares
Cielo SA
Vale SA Preference Shares
Kroton Educacional SA
Banco do Brasil SA
Banco Bradesco SA ADR
Vale SA
Ultrapar Participacoes SA
BB Seguridade Participacoes SA
BM&FBovespa SA
Petroleo Brasileiro SA ADR
AMBEV SA ADR
Banco Bradesco SA
CCR SA
Vale SA Class B ADR
Petroleo Brasileiro SA ADR
BRF SA ADR
Embraer SA
Telefonica Brasil SA Preference Shares
Vale SA Class B ADR
Lojas Renner SA
Cia Brasileira de Distribuicao Grupo Pao de Acucar Preference Shares
Tim Participacoes SA
*
Banco Santander SA
BR Malls Participacoes SA
WEG SA
Grupo BTG Pactual
JBS SA
Lojas Americanas SA Preference Shares
Souza Cruz SA
Estacio Participacoes SA
10,231,725
22,320,570
9,353,946
19,098,361
4,415,353
18,208,687
6,136,349
19,948,208
4,582,702
8,293,218
9,637,216
5,431,502
4,004,550
5,818,093
2,431,116
3,803,382
11,464,529
4,121,524
7,340,516
3,194,785
5,501,377
4,045,409
2,697,186
1,114,368
2,984,281
1,332,900
2,553,789
799,000
556,702
4,185,638
7,316,494
2,719,876
1,734,380
1,611,744
4,511,014
3,310,420
2,421,426
1,636,487
6
151,836
147,771
140,898
117,471
115,013
107,286
90,572
79,603
75,195
72,162
68,668
60,784
59,988
58,685
52,982
50,740
50,448
50,406
49,035
47,058
40,953
35,438
31,557
29,029
28,831
27,245
25,768
23,885
23,307
22,754
22,441
21,838
20,464
20,416
20,106
19,543
19,543
18,944
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,326,032
3,126,478
1,386,013
3,819,368
2,380,310
3,345,333
1,080,181
366,124
1,130,066
1,570,554
367,303
1,359,071
905,926
877,614
1,170,961
1,539,760
556,151
289,794
20,461,451
481,687
1,261,094
810,455
702,494
1,432,707
1,759,641
889,255
1,549,030
2,622,981
665,653
1,694,519
1,541,400
1,889,406
823,400
2,781,674
734,602
603,062
1,620,278
609,770
915,690
1,089,696
1,267,249
1,777,435
1,878,712
1,678,996
2,596,902
1,799,189
1,501,782
207,108
1,271,162
344,898
3,188,168
713,246
285,000
343,256
955,325
8,313,914
604,160
290,339
589,677
378,443
301,550
8,449,332
200,000
295,550
18,051
17,950
17,532
17,107
16,608
16,538
15,694
15,304
14,905
14,242
14,193
13,823
13,051
12,791
11,546
11,545
11,368
11,261
10,755
9,959
9,870
9,817
9,805
9,681
9,528
8,971
8,953
8,714
8,678
8,420
8,182
7,984
7,907
7,597
7,495
7,375
7,340
7,309
7,106
6,510
6,403
6,389
6,214
6,066
5,971
5,901
5,863
5,700
5,681
5,534
5,457
5,219
4,926
4,840
4,689
4,598
4,568
4,567
4,382
4,309
4,229
4,161
4,155
4,129
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*,^
*
^
*
*
Tractebel Energia SA
Cia Energetica de Minas Gerais Preference Shares
CETIP SA - Mercados Organizados
Gerdau SA Preference Shares
Hypermarcas SA
Klabin SA
Natura Cosmeticos SA
Cia Brasileira de Distribuicao ADR
Itau Unibanco Holding SA
Raia Drogasil SA
Embraer SA ADR
Qualicorp SA
Localiza Rent a Car SA
Totvs SA
Cia Energetica de Sao Paulo Preference Shares
CPFL Energia SA
Telefonica Brasil SA ADR
M Dias Branco SA
Oi SA Preference Shares
Multiplan Empreendimentos Imobiliarios SA
Cia de Saneamento Basico do Estado de Sao Paulo
Fibria Celulose SA
Cosan SA Industria e Comercio
Bradespar SA Preference Shares
Metalurgica Gerdau SA Preference Shares Class A
Cia Hering
Cia Energetica de Minas Gerais ADR
Cia Siderurgica Nacional SA
B2W Cia Digital
Cyrela Brazil Realty SA Empreendimentos e Participacoes
Sul America SA
Suzano Papel e Celulose SA Preference Shares Class A
Via Varejo SA
ALL - America Latina Logistica SA
Equatorial Energia SA
Fibria Celulose SA ADR
Gerdau SA ADR
Porto Seguro SA
Cia de Saneamento Basico do Estado de Sao Paulo ADR
Banco do Estado do Rio Grande do Sul SA Preference Shares
BR Properties SA
Duratex SA
MRV Engenharia e Participacoes SA
Odontoprev SA
Usinas Siderurgicas de Minas Gerais SA Preference Shares
Cia Siderurgica Nacional SA ADR
EDP - Energias do Brasil SA
Tim Participacoes SA ADR
EcoRodovias Infraestrutura e Logistica SA
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A
Marcopolo SA Preference Shares
Braskem SA Preference Shares
Smiles SA
Cia Paranaense de Energia ADR
Lojas Americanas SA
Oi SA
AES Tiete SA Preference Shares
Sao Martinho SA
Transmissora Alianca de Energia Eletrica SA
Cia de Saneamento de Minas Gerais-COPASA
Multiplus SA
PDG Realty SA Empreendimentos e Participacoes
Linx SA
Cia Paranaense de Energia Preference Shares
7
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,679,752
381,900
1,017,368
516,140
452,693
223,619
491,523
267,314
460,400
500,706
544,030
751,100
488,279
685,180
604,000
265,706
445,957
868,111
805,103
393,469
500,068
522,800
312,804
1,216,733
1,014,200
1,000,956
654,075
391,602
245,839
319,275
364,287
149,647
322,154
197,600
509,942
781,400
1,340,505
772,134
765,947
295,500
46,925
1,600,223
271,449
111,300
81,733
1,237,245
527,441
363,858
410,800
389,785
130,900
599,200
969,850
603,177
161,400
387,034
83,153
687,194
158,846
1,061,153
1,613,420
651,155
3,156,360
722,283
4,108
3,867
3,849
3,795
3,720
3,469
3,469
3,398
3,377
3,323
3,295
3,200
3,186
3,166
3,108
3,077
3,070
3,042
2,984
2,795
2,743
2,698
2,676
2,635
2,545
2,521
2,376
2,363
2,319
2,282
2,257
2,230
2,196
2,149
2,098
2,083
1,966
1,953
1,872
1,870
1,761
1,745
1,724
1,633
1,612
1,474
1,473
1,434
1,409
1,298
1,294
1,282
1,241
1,200
1,184
1,165
1,158
1,151
1,147
965
855
828
716
706
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
^
*
*
*
*
Marfrig Global Foods SA
Iguatemi Empresa de Shopping Centers SA
Centrais Eletricas Brasileiras SA Preference Shares
Aliansce Shopping Centers SA
Light SA
Cia de Transmissao de Energia Eletrica Paulista Preference Shares
Grendene SA
GAEC Educacao SA
Alupar Investimento SA
Fleury SA
Cia Energetica de Minas Gerais
Diagnosticos da America SA
Mills Estruturas e Servicos de Engenharia SA
Abril Educacao SA
Minerva SA
Arezzo Industria e Comercio SA
Iochpe-Maxion SA
Alpargatas SA Preference Shares
Gerdau SA
Tupy SA
JSL SA
Gol Linhas Aereas Inteligentes SA Preference Shares
Ez Tec Empreendimentos e Participacoes SA
Even Construtora e Incorporadora SA
Centrais Eletricas Brasileiras SA
Randon Participacoes SA Preference Shares
QGEP Participacoes SA
AES Tiete SA
Mahle-Metal Leve SA Industria e Comercio
International Meal Co. Holdings SA
Arteris SA
CPFL Energia SA ADR
SLC Agricola SA
Ser Educacional SA
Direcional Engenharia SA
Usinas Siderurgicas de Minas Gerais SA
Brasil Pharma SA
Centrais Eletricas Brasileiras SA ADR
Helbor Empreendimentos SA
Marisa Lojas SA
Guararapes Confeccoes SA
Gafisa SA
Santos Brasil Participacoes SA
Braskem SA ADR
Cia de Gas de Sao Paulo COMGAS Preference Shares Class A
Magnesita Refratarios SA
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA Preference Shares
Centrais Eletricas Brasileiras SA ADR
LPS Brasil Consultoria de Imoveis SA
Magazine Luiza SA
Cia Paranaense de Energia
Gafisa SA ADR
Brasil Brokers Participacoes SA
Tecnisa SA
Tegma Gestao Logistica
Brasil Insurance Participacoes e Administracao SA
Cia Energetica do Ceara Preference Shares
Cosan Logistica SA
Sonae Sierra Brasil SA
Paranapanema SA
Oi SA ADR
JHSF Participacoes SA
Prumo Logistica SA
Klabin SA Preference Shares
8
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,726,188
128,200
1,636,523
31,700
20,500
87,138
45,455
1,775,768
683
663
356
194
112
52
36
___________7
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
Rossi Residencial SA
Gol Linhas Aereas Inteligentes SA ADR
Eneva SA
Banco Santander Brasil SA
Banco Santander Brasil SA
Oi SA ADR
Contax Participacoes SA Preference Shares
Prumo Logistica SA Rights Exp. 11/28/2014
2,819,767
Canada (7.3%)
Royal Bank of Canada
Toronto-Dominion Bank
Bank of Nova Scotia
Suncor Energy Inc.
Canadian National Railway Co.
^
Bank of Montreal
*
Valeant Pharmaceuticals International Inc.
Enbridge Inc.
Canadian Natural Resources Ltd.
Canadian Imperial Bank of Commerce
Manulife Financial Corp.
TransCanada Corp.
Canadian Pacific Railway Ltd.
Potash Corp. of Saskatchewan Inc.
Brookfield Asset Management Inc. Class A
^
Sun Life Financial Inc.
Magna International Inc.
Cenovus Energy Inc.
National Bank of Canada
Goldcorp Inc.
Agrium Inc.
^
Crescent Point Energy Corp.
Encana Corp.
Rogers Communications Inc. Class B
Thomson Reuters Corp.
Alimentation Couche-Tard Inc. Class B
Pembina Pipeline Corp.
Barrick Gold Corp.
Imperial Oil Ltd.
BCE Inc.
Loblaw Cos. Ltd.
Tim Hortons Inc.
Shaw Communications Inc. Class B
Inter Pipeline Ltd.
*
Catamaran Corp.
Fairfax Financial Holdings Ltd.
Power Corp. of Canada
First Quantum Minerals Ltd.
*
CGI Group Inc. Class A
Intact Financial Corp.
Great-West Lifeco Inc.
Canadian Tire Corp. Ltd. Class A
Canadian Oil Sands Ltd.
Teck Resources Ltd. Class B
^
ARC Resources Ltd.
TELUS Corp.
Franco-Nevada Corp.
Gildan Activewear Inc.
Saputo Inc.
^
RioCan REIT
Husky Energy Inc.
^
Fortis Inc.
CI Financial Corp.
Cameco Corp.
9,119,837
11,697,375
7,670,675
9,377,031
4,624,223
4,027,664
1,960,955
5,293,060
6,953,870
2,535,355
11,756,749
4,460,657
1,003,271
5,258,554
3,600,616
3,870,325
1,302,720
4,760,376
2,074,423
5,121,077
918,559
2,669,527
4,701,128
2,301,138
2,318,855
2,471,412
2,019,420
6,845,508
1,668,170
1,760,459
1,464,403
843,153
2,529,335
2,053,681
1,316,217
134,349
2,204,836
3,808,634
1,662,709
833,679
1,904,021
478,879
3,067,162
2,986,609
1,996,610
1,300,367
989,365
773,799
1,611,812
1,929,065
1,870,280
1,359,814
1,489,868
2,492,998
9
647,423
575,709
469,748
332,965
326,020
292,073
260,637
250,458
242,665
231,456
223,128
219,857
208,684
179,492
176,253
137,670
128,579
117,800
96,962
96,101
89,871
88,230
87,595
86,529
86,269
83,875
83,783
81,268
80,267
78,178
76,296
68,317
64,947
64,705
62,713
61,382
58,180
57,448
57,078
55,899
53,351
52,504
48,060
47,195
47,087
46,601
46,315
46,096
45,735
45,443
45,154
44,304
43,319
43,288
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,476,414
770,319
530,376
6,536,630
965,395
1,182,422
1,113,216
2,265,016
543,650
604,528
841,349
1,712,539
599,112
3,155,439
1,047,722
362,971
557,510
1,330,452
1,994,166
9,047,158
100,400
1,079,443
323,062
628,803
624,142
4,500,411
836,266
949,564
326,308
775,482
5,569,243
1,393,496
1,677,352
445,640
728,510
395,492
203,218
645,084
482,050
1,488,579
436,505
1,605,276
1,286,622
227,572
270,517
508,696
5,050,827
662,985
1,705,474
323,621
513,683
368,780
650,690
250,438
1,095,958
7,257,801
697,813
1,853,036
908,595
628,458
396,776
471,805
3,093,762
330,022
43,242
42,547
42,193
41,700
41,595
40,874
39,934
39,370
38,203
35,927
34,712
34,082
34,000
33,149
32,016
31,890
31,456
31,353
30,079
29,781
28,284
27,871
26,394
25,341
24,965
24,597
23,603
22,917
22,574
22,555
22,187
21,872
21,491
21,360
21,279
20,749
20,544
19,603
19,589
19,270
19,167
18,659
18,425
17,353
17,140
17,039
16,940
16,783
16,585
16,531
16,408
16,246
15,923
15,866
15,802
15,520
15,479
15,439
15,382
15,368
14,948
14,890
14,000
13,821
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*,^
^
*
*
^
^
*
^
*
^
^
*
^
^
^
*
Power Financial Corp.
Open Text Corp.
Keyera Corp.
Talisman Energy Inc.
SNC-Lavalin Group Inc.
Canadian Utilities Ltd. Class A
Tourmaline Oil Corp.
Silver Wheaton Corp.
Metro Inc.
Methanex Corp.
AltaGas Ltd.
H&R REIT
Vermilion Energy Inc.
BlackBerry Ltd.
Baytex Energy Corp.
Dollarama Inc.
Onex Corp.
Agnico Eagle Mines Ltd.
Pacific Rubiales Energy Corp.
Bombardier Inc. Class B
Constellation Software Inc.
Finning International Inc.
George Weston Ltd.
Industrial Alliance Insurance & Financial Services Inc.
IGM Financial Inc.
Eldorado Gold Corp.
Peyto Exploration & Development Corp.
MEG Energy Corp.
Empire Co. Ltd.
Gibson Energy Inc.
Yamana Gold Inc.
Veresen Inc.
CAE Inc.
Home Capital Group Inc. Class B
Progressive Waste Solutions Ltd.
West Fraser Timber Co. Ltd.
CCL Industries Inc. Class B
Amaya Gaming Group Inc.
Atco Ltd.
Whitecap Resources Inc.
Canadian REIT
Element Financial Corp.
Enerplus Corp.
MacDonald Dettwiler & Associates Ltd.
Stantec Inc.
Canadian Western Bank
Turquoise Hill Resources Ltd.
Dream Office REIT
TransAlta Corp.
Linamar Corp.
DH Corp.
ShawCor Ltd.
Calloway REIT
Boardwalk REIT
Aimia Inc.
Kinross Gold Corp.
Canadian Apartment Properties REIT
Precision Drilling Corp.
Cominar REIT
TransForce Inc.
Cineplex Inc.
Allied Properties REIT
Penn West Petroleum Ltd.
Paramount Resources Ltd. Class A
10
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
563,214
529,489
731,240
3,318,041
741,450
2,774,934
1,286,285
862,011
391,544
520,149
501,700
382,734
3,202,507
237,832
389,811
1,480,233
490,225
1,086,671
1,009,408
206,957
295,515
428,826
421,374
504,357
554,160
513,976
5,640,983
757,875
260,955
803,692
454,003
1,148,212
805,643
501,921
582,958
530,301
1,048,366
905,283
931,282
180,989
176,109
1,388,891
264,303
828,488
224,903
2,301,030
524,462
1,054,003
500,037
97,876
258,971
416,153
542,335
700,467
1,670,476
508,551
633,059
1,352,643
111,005
296,041
815,918
979,822
679,504
860,555
13,767
13,591
13,541
13,395
12,868
12,384
12,086
12,039
11,919
11,806
11,681
11,665
11,622
11,439
11,362
11,334
11,239
11,088
11,088
10,937
10,894
10,239
10,083
9,800
9,603
9,458
9,410
9,246
9,123
9,071
8,882
8,863
8,728
8,684
8,674
8,662
8,558
8,370
8,346
7,962
7,918
7,702
7,675
7,623
7,561
7,452
7,338
7,164
7,143
7,106
6,827
6,484
6,437
6,420
6,418
6,362
6,195
6,168
6,166
6,120
6,088
5,738
5,722
5,604
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
*
^
^
*
*
^
*
*,^
*,^
^
^
^
^
^
*
^
*,^
*
*
^
^
^
*
*
*
^
*
*,^
*
Ritchie Bros Auctioneers Inc.
Quebecor Inc. Class B
Secure Energy Services Inc.
Pengrowth Energy Corp.
Hudson's Bay Co.
Lundin Mining Corp.
Bonavista Energy Corp.
Artis REIT
WSP Global Inc.
Capital Power Corp.
Canfor Corp.
Westshore Terminals Investment Corp.
New Gold Inc.
TMX Group Ltd.
Russel Metals Inc.
HudBay Minerals Inc.
Jean Coutu Group PJC Inc. Class A
Chartwell Retirement Residences
Celestica Inc.
FirstService Corp.
Granite REIT
Toromont Industries Ltd.
Pason Systems Inc.
Mullen Group Ltd.
Tahoe Resources Inc.
Corus Entertainment Inc. Class B
B2Gold Corp.
RONA Inc.
Genworth MI Canada Inc.
Ensign Energy Services Inc.
Parkland Fuel Corp.
Canadian Energy Services & Technology Corp.
Superior Plus Corp.
Maple Leaf Foods Inc.
Northland Power Inc.
First Capital Realty Inc.
Algonquin Power & Utilities Corp.
Pan American Silver Corp.
Trican Well Service Ltd.
Laurentian Bank of Canada
Bonterra Energy Corp.
Surge Energy Inc.
Stella-Jones Inc.
NuVista Energy Ltd.
Emera Inc.
Athabasca Oil Corp.
Dominion Diamond Corp.
Raging River Exploration Inc.
Enerflex Ltd.
Bank of Montreal
Manitoba Telecom Services Inc.
Trilogy Energy Corp.
Barrick Gold Corp.
Parex Resources Inc.
Bankers Petroleum Ltd.
ATS Automation Tooling Systems Inc.
Innergex Renewable Energy Inc.
Gran Tierra Energy Inc.
AutoCanada Inc.
North West Co. Inc.
Alamos Gold Inc.
Detour Gold Corp.
Kelt Exploration Ltd.
Trinidad Drilling Ltd.
11
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
302,944
398,451
447,471
1,141,503
566,258
673,374
201,737
610,683
164,113
1,210,050
541,555
1,531,145
4,549,104
757,880
360,870
437,517
1,849,857
1,070,048
2,403,742
2,365,565
1,749,780
1,257,735
288,367
561,719
829,575
236,200
1,015,116
1,138,362
70,508
323,981
738,188
301,431
1,473,944
589,434
217,200
1,007,934
1,264,071
240,780
168,701
150,614
1,895,687
2,108,071
511,079
544,000
1,510,890
596,745
448,280
2,736,158
1,344,441
752,230
1,494,285
289,175
420,287
373,355
475,500
496,442
943,065
925,658
635,604
665,483
798,109
293,657
375,562
1,236,043
5,494
5,441
5,360
5,338
5,311
5,210
5,198
5,169
5,099
4,928
4,920
4,904
4,844
4,734
4,691
4,639
4,596
4,586
4,564
4,429
4,269
4,252
4,089
4,067
4,041
4,034
3,963
3,909
3,845
3,797
3,786
3,766
3,623
3,572
3,565
3,443
3,342
3,331
3,301
3,114
3,095
3,030
2,984
2,935
2,896
2,732
2,617
2,573
2,541
2,490
2,479
2,445
2,338
2,296
2,177
2,163
2,008
1,988
1,940
1,895
1,784
1,738
1,713
1,623
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
^
*
*
*
*
*
*
*
^
^
*,^
*,^
*
*,^
*
^
*,^
^
*
*,^
*,^
*
*,^
*
^
^
*,^
*,^
^
*,^
*
^
*,^
*,^
^
*
*
Great Canadian Gaming Corp.
Transcontinental Inc. Class A
Calfrac Well Services Ltd.
Bellatrix Exploration Ltd.
TORC Oil & Gas Ltd.
Birchcliff Energy Ltd.
Northern Property REIT
Canaccord Genuity Group Inc.
Dorel Industries Inc. Class B
Legacy Oil & Gas Inc.
AGF Management Ltd. Class B
AuRico Gold Inc.
Torex Gold Resources Inc.
Crew Energy Inc.
Aecon Group Inc.
Martinrea International Inc.
Sherritt International Corp.
Advantage Oil & Gas Ltd.
IAMGOLD Corp.
Capstone Mining Corp.
SEMAFO Inc.
Nevsun Resources Ltd.
Dundee Corp. Class A
Extendicare Inc.
Just Energy Group Inc.
Black Diamond Group Ltd.
Centerra Gold Inc.
Canexus Corp.
Cogeco Cable Inc.
Dream Unlimited Corp. Class A
First Majestic Silver Corp.
Osisko Gold Royalties Ltd.
NovaGold Resources Inc.
Cott Corp.
Morguard REIT
Primero Mining Corp.
Lightstream Resources Ltd.
Avigilon Corp.
Norbord Inc.
First National Financial Corp.
OceanaGold Corp.
BlackPearl Resources Inc.
Major Drilling Group International Inc.
Savanna Energy Services Corp.
China Gold International Resources Corp. Ltd.
Pretium Resources Inc.
Torstar Corp. Class B
Denison Mines Corp.
Thompson Creek Metals Co. Inc.
Wi-Lan Inc.
Alacer Gold Corp.
Imperial Metals Corp.
Cascades Inc.
Westport Innovations Inc.
InnVest REIT
Silver Standard Resources Inc.
Argonaut Gold Inc.
Sprott Inc.
Endeavour Silver Corp.
Dundee Precious Metals Inc.
Atlantic Power Corp.
GMP Capital Inc.
Gran Tierra Energy Inc.
Taseko Mines Ltd.
12
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
321,743
633,071
38,000
320,721
1,076
1,062
234
—
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
*,^
*
Bombardier Inc. Class A
Continental Gold Ltd.
Westport Innovations Inc.
Poseidon Concepts Corp.
9,734,178
Chile (0.3%)
Enersis SA
Empresas COPEC SA
Empresa Nacional de Electricidad SA
SACI Falabella
*
Latam Airlines Group SA
Cencosud SA
Banco de Chile
Empresas CMPC SA
Banco Santander Chile
Banco de Credito e Inversiones
Corpbanca SA
Colbun SA
Aguas Andinas SA Class A
Cia Cervecerias Unidas SA
Sociedad Quimica y Minera de Chile SA Preference Shares Class B
AES Gener SA
Empresa Nacional de Electricidad SA ADR
Enersis SA ADR
ENTEL Chile SA
Sonda SA
Parque Arauco SA
Vina Concha y Toro SA
E.CL SA
Banco Santander Chile ADR
CAP SA
Embotelladora Andina SA Preference Shares
Inversiones Aguas Metropolitanas SA
Sociedad Quimica y Minera de Chile SA ADR
Administradora de Fondos de Pensiones Habitat SA
Ripley Corp. SA
Inversiones La Construccion SA
Sociedad Matriz SAAM SA
*
Latam Airlines Group SA
Sigdo Koppers SA
Forus SA
Salfacorp SA
Coca-Cola Embonor SA Preference Shares Class B
*
Cia Sud Americana de Vapores SA
Besalco SA
*
Latam Airlines Group SA ADR
99,483,966
2,389,896
16,008,040
3,031,746
1,812,562
7,099,759
150,481,677
7,083,843
303,379,383
275,748
1,011,920,880
44,266,312
18,494,523
928,384
411,472
16,115,491
175,999
507,395
689,130
2,951,589
3,313,349
3,563,204
3,297,934
229,722
484,656
1,496,683
2,827,389
172,961
2,070,574
5,552,188
210,186
34,346,807
217,064
1,612,994
538,145
2,632,661
1,045,588
47,777,113
2,451,379
73,423
31,607
29,168
25,042
23,056
22,261
20,910
18,606
17,583
16,189
15,517
13,689
12,382
11,183
9,915
9,786
8,959
8,216
8,012
7,464
7,174
6,970
6,786
4,879
4,868
4,833
4,719
4,282
4,104
3,349
3,034
3,031
2,881
2,746
2,526
2,397
2,266
1,816
1,801
1,631
896
___________
386,534
China (4.0%)
*
Tencent Holdings Ltd.
China Mobile Ltd.
China Construction Bank Corp.
Industrial & Commercial Bank of China Ltd.
Bank of China Ltd.
PetroChina Co. Ltd.
CNOOC Ltd.
China Life Insurance Co. Ltd.
China Petroleum & Chemical Corp.
Ping An Insurance Group Co. of China Ltd.
Agricultural Bank of China Ltd.
China Overseas Land & Investment Ltd.
China Telecom Corp. Ltd.
CITIC Ltd.
China Shenhua Energy Co. Ltd.
Lenovo Group Ltd.
29,111,875
33,011,000
457,360,340
456,817,760
477,341,306
133,712,000
101,915,000
47,160,000
161,698,400
12,098,200
163,707,460
25,897,680
102,719,000
34,797,000
21,586,000
38,340,000
13
463,493
410,648
340,565
301,927
228,172
168,061
159,541
140,777
140,589
99,079
75,932
75,365
65,505
60,892
60,782
57,602
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
29,072,122
14,061,238
4,638,500
28,531,694
33,207,000
38,654,918
50,970,150
12,073,600
19,029,344
48,213,446
4,660,000
17,386,000
6,573,000
18,528,000
11,814,000
4,346,758
3,300,500
7,554,500
6,188,800
17,896,300
19,432,000
11,468,000
16,798,000
7,266,000
21,321,000
66,554,000
28,040,000
14,230,000
22,913,000
7,606,000
17,932,000
9,752,000
2,402,000
24,606,000
18,572,000
7,906,500
4,498,267
9,466,800
71,128,000
17,548,579
25,924,000
8,306,374
9,827,442
24,443,000
8,487,000
3,201,000
37,835,883
5,596,000
10,190,000
4,796,000
22,464,000
28,485,000
12,003,000
11,887,300
13,931,883
4,311,000
3,563,000
3,083,560
29,539,962
5,327,813
73,357,612
5,229,600
11,348,000
25,253,788
53,782
52,728
49,398
42,782
42,234
38,696
38,595
35,668
34,902
31,407
30,208
30,020
28,790
28,640
28,178
27,592
27,055
24,722
24,166
24,051
24,008
23,942
23,581
22,940
22,775
22,471
21,639
18,872
18,276
18,071
18,027
17,803
17,753
17,617
17,204
16,986
16,809
16,244
16,235
16,146
16,050
15,697
15,396
15,198
15,141
14,956
14,641
13,938
13,394
12,950
12,820
12,749
12,476
12,470
12,402
12,307
12,290
11,855
11,777
11,768
11,534
11,482
11,432
11,248
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
*
*,^
^
*,^
^
*
*,^
China Merchants Bank Co. Ltd.
China Pacific Insurance Group Co. Ltd.
Hengan International Group Co. Ltd.
China Unicom Hong Kong Ltd.
Belle International Holdings Ltd.
China Minsheng Banking Corp. Ltd.
Bank of Communications Co. Ltd.
China Resources Power Holdings Co. Ltd.
PICC Property & Casualty Co. Ltd.
China CITIC Bank Corp. Ltd.
ENN Energy Holdings Ltd.
Brilliance China Automotive Holdings Ltd.
Great Wall Motor Co. Ltd.
Dongfeng Motor Group Co. Ltd.
China Resources Land Ltd.
Byd Co. Ltd.
Beijing Enterprises Holdings Ltd.
Anhui Conch Cement Co. Ltd.
Sinopharm Group Co. Ltd.
Kunlun Energy Co. Ltd.
Huaneng Power International Inc.
China Oilfield Services Ltd.
China Everbright International Ltd.
China Merchants Holdings International Co. Ltd.
China Longyuan Power Group Corp. Ltd.
GCL-Poly Energy Holdings Ltd.
China Communications Construction Co. Ltd.
Guangdong Investment Ltd.
Sihuan Pharmaceutical Holdings Group Ltd.
China Resources Enterprise Ltd.
Sino Biopharmaceutical Ltd.
China Gas Holdings Ltd.
Tsingtao Brewery Co. Ltd.
Beijing Enterprises Water Group Ltd.
China National Building Material Co. Ltd.
Shimao Property Holdings Ltd.
New China Life Insurance Co. Ltd.
Haitong Securities Co. Ltd.
Hanergy Thin Film Power Group Ltd.
CSPC Pharmaceutical Group Ltd.
China Coal Energy Co. Ltd.
China Vanke Co. Ltd.
China State Construction International Holdings Ltd.
China Railway Group Ltd.
Jiangxi Copper Co. Ltd.
Zhuzhou CSR Times Electric Co. Ltd.
Evergrande Real Estate Group Ltd.
CITIC Securities Co. Ltd.
COSCO Pacific Ltd.
Haier Electronics Group Co. Ltd.
Sino-Ocean Land Holdings Ltd.
Geely Automobile Holdings Ltd.
CSR Corp. Ltd.
China Railway Construction Corp. Ltd.
Guangzhou Automobile Group Co. Ltd.
China Resources Gas Group Ltd.
Shenzhou International Group Holdings Ltd.
Weichai Power Co. Ltd.
Country Garden Holdings Co. Ltd.
Chongqing Changan Automobile Co. Ltd. Class B
GOME Electrical Appliances Holding Ltd.
China Taiping Insurance Holdings Co. Ltd.
Shandong Weigao Group Medical Polymer Co. Ltd.
Aluminum Corp. of China Ltd.
14
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
5,660,000
4,621,000
9,165,000
14,236,000
6,621,294
5,432,000
12,445,590
24,030,000
20,711,231
5,390,500
44,375,368
8,562,000
37,951,000
11,123,000
3,950,982
20,124,000
17,960,000
9,276,000
11,782,000
2,582,500
18,090,000
3,640,700
9,782,598
2,907,000
7,806,000
3,677,553
5,377,750
12,537,845
4,248,900
17,616,000
22,008,000
3,673,000
10,252,000
9,982,669
16,281,600
11,682,000
39,963,536
16,181,500
9,970,000
9,670,000
22,297,000
7,108,500
24,091,000
6,195,200
15,027,000
6,473,000
8,094,000
4,142,000
14,422,000
11,793,000
10,662,014
5,075,500
6,934,500
13,383,000
16,060,000
7,017,000
8,194,000
23,198,000
4,028,000
3,202,146
6,762,000
11,979,000
6,314,000
7,389,500
11,136
11,009
10,855
10,822
10,654
10,553
10,509
10,371
10,145
10,099
9,950
9,919
9,724
9,627
9,572
9,527
9,428
9,350
9,347
9,280
9,203
9,113
9,076
8,953
8,713
8,572
8,536
8,514
8,471
8,466
7,912
7,884
7,822
7,726
7,713
7,559
7,362
7,347
7,318
7,097
6,921
6,872
6,858
6,851
6,777
6,763
6,754
6,726
6,531
6,464
6,128
6,060
6,042
5,904
5,727
5,585
5,483
5,470
5,438
5,380
5,330
5,298
5,240
5,215
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
2
*
^
^
*
*,^
2
*,^
^
*
^
*,^
*
2
*
*
*,^
^
ANTA Sports Products Ltd.
Kingsoft Corp. Ltd.
Fosun International Ltd.
AviChina Industry & Technology Co. Ltd.
Inner Mongolia Yitai Coal Co. Ltd. Class B
China Everbright Ltd.
Yanzhou Coal Mining Co. Ltd.
People's Insurance Co. Group of China Ltd.
China Everbright Bank Co. Ltd.
China Medical System Holdings Ltd.
China Huishan Dairy Holdings Co. Ltd.
Longfor Properties Co. Ltd.
Zijin Mining Group Co. Ltd.
Sunac China Holdings Ltd.
ZTE Corp.
China Cinda Asset Management Co. Ltd.
Datang International Power Generation Co. Ltd.
Zhejiang Expressway Co. Ltd.
Sinotrans Ltd.
Shanghai Fosun Pharmaceutical Group Co. Ltd.
Shanghai Electric Group Co. Ltd.
Shanghai Pharmaceuticals Holding Co. Ltd.
Far East Horizon Ltd.
Shanghai Industrial Holdings Ltd.
Jiangsu Expressway Co. Ltd.
China International Marine Containers Group Co. Ltd.
Shenzhen International Holdings Ltd.
China Resources Cement Holdings Ltd.
Kingboard Chemical Holdings Ltd.
Chongqing Rural Commercial Bank Co. Ltd.
Huaneng Renewables Corp. Ltd.
Haitian International Holdings Ltd.
Huadian Power International Corp. Ltd.
Nine Dragons Paper Holdings Ltd.
China Communications Services Corp. Ltd.
Air China Ltd.
Yuexiu Property Co. Ltd.
China COSCO Holdings Co. Ltd.
SOHO China Ltd.
Beijing Capital International Airport Co. Ltd.
Sinopec Shanghai Petrochemical Co. Ltd.
Sinopec Engineering Group Co. Ltd.
China Shipping Container Lines Co. Ltd.
Guangzhou R&F Properties Co. Ltd.
China Power International Development Ltd.
TravelSky Technology Ltd.
Shunfeng Photovoltaic International Ltd.
Sunny Optical Technology Group Co. Ltd.
China South City Holdings Ltd.
Skyworth Digital Holdings Ltd.
Huadian Fuxin Energy Corp. Ltd.
BYD Electronic International Co. Ltd.
Intime Retail Group Co. Ltd.
China Modern Dairy Holdings Ltd.
Hua Han Bio-Pharmaceutical Holdings Ltd.
China Galaxy Securities Co. Ltd.
China Shipping Development Co. Ltd.
Franshion Properties China Ltd.
Tong Ren Tang Technologies Co. Ltd.
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class B
China High Speed Transmission Equipment Group Co. Ltd.
Sinopec Yizheng Chemical Fibre Co. Ltd.
Sinopec Kantons Holdings Ltd.
BBMG Corp.
15
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
7,420,000
6,986,000
4,858,500
9,204,000
13,140,400
17,929,063
8,340,000
2,735,200
8,070,000
6,242,000
1,394,000
2,461,400
5,113,000
8,787,495
8,116,000
10,014,000
5,838,075
11,529,000
6,807,000
3,618,000
4,073,000
11,640,000
8,730,000
1,338,881
4,102,500
11,608,000
8,454,022
11,058,000
13,864,000
9,352,665
18,036,000
9,002,000
10,038,000
10,802,000
8,661,413
23,540,000
1,313,095
11,203,600
2,157,000
4,100,000
3,608,000
3,374,000
4,693,500
942,548
4,755,748
11,067,000
19,433,827
1,814,000
9,963,272
6,117,249
9,146,000
9,600,000
17,017,000
2,568,000
5,446,500
5,432,000
11,595,000
2,924,000
5,792,000
9,758,000
5,091,000
5,584,500
3,316,000
62,320,000
5,150
5,137
5,085
5,050
5,013
4,975
4,964
4,926
4,892
4,855
4,807
4,782
4,757
4,676
4,567
4,491
4,488
4,462
4,458
4,431
4,371
4,319
4,253
4,227
4,213
4,148
4,123
4,076
4,060
4,010
3,936
3,863
3,816
3,785
3,748
3,731
3,730
3,672
3,658
3,640
3,626
3,596
3,589
3,575
3,492
3,422
3,383
3,284
3,261
3,240
3,217
3,204
3,164
3,123
3,085
3,081
3,081
3,048
3,041
3,014
3,005
2,952
2,893
2,893
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
*,^
^
^
^
^
^
^
*
^
^
^
^
^
*
*,^
*,^
^
*
*,^
^
*,^
*,^,2
*,^
*,^
^
^
*
^
*,^
^
^
^
^
^
*,^
KWG Property Holding Ltd.
Angang Steel Co. Ltd.
Greentown China Holdings Ltd.
Lee & Man Paper Manufacturing Ltd.
China Agri-Industries Holdings Ltd.
Metallurgical Corp. of China Ltd.
China Molybdenum Co. Ltd.
Xinjiang Goldwind Science & Technology Co. Ltd.
Goldin Properties Holdings Ltd.
Tech Pro Technology Development Ltd.
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd.
China Singyes Solar Technologies Holdings Ltd.
Digital China Holdings Ltd.
China Zhongwang Holdings Ltd.
Agile Property Holdings Ltd.
Beijing Jingneng Clean Energy Co. Ltd.
China Hongqiao Group Ltd.
Poly Property Group Co. Ltd.
Greatview Aseptic Packaging Co. Ltd.
Golden Eagle Retail Group Ltd.
PAX Global Technology Ltd.
Kaisa Group Holdings Ltd.
Lijun International Pharmaceutical Holding Co. Ltd.
Yantai Changyu Pioneer Wine Co. Ltd. Class B
Zhongsheng Group Holdings Ltd.
China BlueChemical Ltd.
Zoomlion Heavy Industry Science and Technology Co. Ltd.
China Shanshui Cement Group Ltd.
Shenzhen Investment Ltd.
Huishang Bank Corp. Ltd.
Coolpad Group Ltd.
Guangshen Railway Co. Ltd.
China Eastern Airlines Corp. Ltd.
China Southern Airlines Co. Ltd.
China Yurun Food Group Ltd.
China Oil & Gas Group Ltd.
Lao Feng Xiang Co. Ltd. Class B
Kingdee International Software Group Co. Ltd.
Dongfang Electric Corp. Ltd.
Hopson Development Holdings Ltd.
CIMC Enric Holdings Ltd.
CT Environmental Group Ltd.
Baoxin Auto Group Ltd.
Weifu High-Technology Group Co. Ltd. Class B
CSG Holding Co. Ltd. Class B
Hi Sun Technology China Ltd.
Tianhe Chemicals Group Ltd.
China Shineway Pharmaceutical Group Ltd.
Hunan Nonferrous Metal Corp. Ltd.
Li Ning Co. Ltd.
Tibet 5100 Water Resources Holdings Ltd.
MMG Ltd.
China Dongxiang Group Co. Ltd.
China Metal Recycling Holdings Ltd.
China ZhengTong Auto Services Holdings Ltd.
China Traditional Chinese Medicine Co. Ltd.
China Suntien Green Energy Corp. Ltd.
Wasion Group Holdings Ltd.
China Lesso Group Holdings Ltd.
Phoenix Satellite Television Holdings Ltd.
Dah Chong Hong Holdings Ltd.
Zhaojin Mining Industry Co. Ltd.
Wumart Stores Inc.
North Mining Shares Co. Ltd.
16
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,388,361
5,538,000
4,394,000
10,600,000
1,326,000
4,251,900
8,374,268
8,008,000
5,784,018
360,611
4,448,000
6,550,000
4,980,500
64,515,635
5,515,600
17,196,000
24,152,000
4,154,000
1,476,508
35,820,000
6,480,000
90,400,000
4,816,000
1,218,500
5,261,767
5,305,500
10,418,000
3,021,000
2,558,000
1,254,613
3,318,400
8,256,000
6,692,000
3,223,000
15,294,000
15,388,000
4,263,000
1,323,213
6,368,000
13,488,000
1,720,700
1,695,900
3,103,500
545,094
5,444,000
19,848,000
1,804,500
12,112,000
11,082,000
5,580,000
14,822,600
1,839,436
25,010,000
896,000
2,282,000
1,601,000
752,927
1,091,800
1,745,125
3,691,800
8,187,000
3,293,000
11,952,000
2,453,000
2,860
2,846
2,811
2,791
2,778
2,758
2,748
2,745
2,706
2,701
2,682
2,668
2,628
2,598
2,589
2,565
2,552
2,518
2,518
2,491
2,462
2,423
2,421
2,415
2,368
2,366
2,352
2,338
2,297
2,293
2,263
2,258
2,250
2,237
2,229
2,223
2,222
2,213
2,199
2,174
2,172
2,152
2,137
2,126
2,105
2,100
2,083
2,076
2,073
2,071
2,064
2,049
2,033
2,029
2,003
2,002
1,991
1,934
1,914
1,872
1,869
1,866
1,855
1,840
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*
*,^
*
^
^
^
*,^
*,^
^
*,^
^
*,^
^
*,^
*
^
^
*
*
*,^
*
^
*,^
^
*,^
*,^
^
^
*,^
*,^
^
*
^
*
Shanghai Mechanical and Electrical Industry Co. Ltd. Class B
China Water Affairs Group Ltd.
Shenzhen Expressway Co. Ltd.
Maanshan Iron & Steel Co. Ltd.
China Conch Venture Holdings Ltd.
Guangdong Electric Power Development Co. Ltd. Class B
BOE Technology Group Co. Ltd. Class B
Shanghai Jin Jiang International Hotels Group Co. Ltd.
Comba Telecom Systems Holdings Ltd.
Livzon Pharmaceutical Group Inc.
Harbin Electric Co. Ltd.
Kingboard Laminates Holdings Ltd.
China Overseas Grand Oceans Group Ltd.
Renhe Commercial Holdings Co. Ltd.
Fufeng Group Ltd.
Bosideng International Holdings Ltd.
China Precious Metal Resources Holdings Co. Ltd.
Yuexiu Transport Infrastructure Ltd.
NetDragon Websoft Inc.
China Power New Energy Development Co. Ltd.
Dongyue Group Ltd.
China Resources and Transportation Group Ltd.
Daphne International Holdings Ltd.
Phoenix Healthcare Group Co. Ltd.
Shanghai Zhenhua Heavy Industries Co. Ltd. Class B
XTEP International Holdings Ltd.
Tianjin Port Development Holdings Ltd.
Wisdom Holdings Group
Hisense Kelon Electrical Holdings Co. Ltd. Class A
Shanghai Waigaoqiao Free Trade Zone Development Co. Ltd. Class B
Dazhong Transportation Group Co. Ltd. Class B
Sinotrans Shipping Ltd.
Chinasoft International Ltd.
Ajisen China Holdings Ltd.
Glorious Property Holdings Ltd.
China Datang Corp. Renewable Power Co. Ltd.
Sinotruk Hong Kong Ltd.
China Merchants Property Development Co. Ltd. Class B
Beijing Capital Land Ltd.
China Lumena New Materials Corp.
Luthai Textile Co. Ltd. Class B
Hubei Sanonda Co. Ltd. Class B
Bank of Chongqing Co. Ltd.
Jiangling Motors Corp. Ltd. Class B
Sichuan Expressway Co. Ltd.
V1 Group Ltd.
China Tian Lun Gas Holdings Ltd.
Lonking Holdings Ltd.
CIFI Holdings Group Co. Ltd.
Yashili International Holdings Ltd.
CITIC Resources Holdings Ltd.
Hangzhou Steam Turbine Co. Class B
China WindPower Group Ltd.
Biostime International Holdings Ltd.
Tianjin Development Hldgs Ltd.
Boer Power Holdings Ltd.
Anhui Gujing Distillery Co. Ltd. Class B
Guangzhou Shipyard International Co. Ltd.
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class B
Jiangsu Future Land Co. Ltd. Class B
NVC Lighting Holding Ltd.
Chaowei Power Holdings Ltd.
Sinofert Holdings Ltd.
CPMC Holdings Ltd.
17
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
5,266,000
2,553,000
7,040,000
2,960,000
5,008,000
5,143,000
10,853,600
3,108,000
947,222
2,236,376
6,133,000
4,614,000
6,138,000
331,600
7,221,000
2,202,000
1,908,000
1,052,200
756,136
2,456,000
3,122,000
8,366,000
4,804,000
2,079,060
712,370
1,005,000
3,460,000
3,070,995
5,616,000
1,360,530
1,102,000
26,380,000
14,534,000
7,302,000
4,780,000
880,000
3,517,000
812,711
6,696,000
3,993,000
7,677,000
2,707,500
4,490,000
4,731,000
4,058,000
2,514,194
5,998,000
13,912,000
3,182,875
1,355,859
7,004,000
11,352,000
5,475,200
25,202,000
2,805,034
2,385,800
1,676,000
8,124,000
1,484,500
13,728,000
7,836,000
1,862,900
17,136,000
2,944,000
1,838
1,826
1,820
1,812
1,789
1,776
1,765
1,763
1,755
1,750
1,750
1,746
1,732
1,686
1,637
1,588
1,587
1,580
1,572
1,569
1,549
1,543
1,529
1,528
1,527
1,523
1,516
1,501
1,478
1,467
1,458
1,446
1,442
1,440
1,411
1,403
1,402
1,400
1,366
1,365
1,364
1,361
1,354
1,353
1,353
1,338
1,329
1,290
1,284
1,281
1,265
1,205
1,185
1,170
1,150
1,150
1,143
1,130
1,116
1,116
1,081
1,073
1,061
1,036
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
*,^
*,^
*
^
*,^
*,^
^
*
^
*,^
^
*
^
^
^
*
*
^
*
^
*,^
*
^
*
*
^
^
*,^
Dalian Port PDA Co. Ltd.
China Lilang Ltd.
Tiangong International Co. Ltd.
Anhui Expressway Co. Ltd.
Tianneng Power International Ltd.
Xingda International Holdings Ltd.
Hengdeli Holdings Ltd.
China Machinery Engineering Corp.
Shanghai Jinjiang International Hotels Development Co. Ltd. Class B
Inner Mongolia Eerduosi Resourses Co. Ltd. Class B
Mingfa Group International Co. Ltd.
China Foods Ltd.
Shenguan Holdings Group Ltd.
China National Accord Medicines Corp. Ltd. Class B
China National Materials Co. Ltd.
Tianjin Capital Environmental Protection Group Co. Ltd.
Changshouhua Food Co. Ltd.
Huangshan Tourism Development Co. Ltd. Class B
Shenzhen Chiwan Petroleum Class B
First Tractor Co. Ltd.
Lianhua Supermarket Holdings Co. Ltd.
Shanghai Industrial Urban Development Group Ltd.
Qingling Motors Co. Ltd.
Shanghai Diesel Engine Co. Ltd. Class B
Shanghai Baosight Software Co. Ltd. Class B
Vinda International Holdings Ltd.
COSCO International Holdings Ltd.
Shandong Chenming Paper Holdings Ltd. Class B
Xiamen International Port Co. Ltd.
Huaxin Cement Co. Ltd. Class B
Shanghai Bailian Group Co. Ltd. Class B
EverChina International Holdings Co. Ltd.
West China Cement Ltd.
China SCE Property Holdings Ltd.
Peak Sport Products Co. Ltd.
Bloomage BioTechnology Corp. Ltd.
China Huiyuan Juice Group Ltd.
Shenzhen Chiwan Wharf Holdings Ltd. Class B
Hydoo International Holding Ltd.
Real Nutriceutical Group Ltd.
C C Land Holdings Ltd.
Weiqiao Textile Co.
Beijing North Star Co. Ltd.
361 Degrees International Ltd.
Hilong Holding Ltd.
Shanghai Haixin Group Co. Class B
Sany Heavy Equipment International Holdings Co. Ltd.
Anxin-China Holdings Ltd.
Chengde Nanjiang Co. Ltd. Class B
Foshan Electrical and Lighting Co. Ltd. Class B
Chongqing Machinery & Electric Co. Ltd.
Fantasia Holdings Group Co. Ltd.
Welling Holding Ltd.
Shougang Concord International Enterprises Co. Ltd.
Huadian Energy Co. Ltd. Class B
Shanghai Chlor-Alkali Chemical Co. Ltd. Class B
Texhong Textile Group Ltd.
Powerlong Real Estate Holdings Ltd.
Double Coin Holdings Ltd. Class B
Sinolink Worldwide Holdings Ltd.
MIE Holdings Corp.
Shanghai Highly Group Co. Ltd. Class B
Yuanda China Holdings Ltd.
TCL Multimedia Technology Holdings Ltd.
18
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
8,850,000
1,682,600
2,188,000
1,668,790
6,358,000
4,490,000
1,951,173
2,621,372
1,403,896
990,020
4,615,000
3,123,000
1,581,600
6,336,000
2,107,800
3,344,000
983,900
529,380
739,700
1,022,400
6,194,000
5,777,000
794,000
909,600
2,777,000
5,927,000
1,455,101
835,700
3,856,000
1,218,954
10,916,000
17,190,000
514,500
840,392
12,162,000
472,720
18,142,000
1,045,000
1,578,000
10,180,000
464,100
1,342,000
6,237,000
1,345,000
1,562,000
965,500
58,000
1,793,400
1,028
1,016
1,012
1,006
991
987
981
970
948
938
898
869
818
817
810
737
685
658
643
636
631
626
621
605
602
596
582
567
538
536
504
490
483
465
462
449
436
344
342
323
305
249
153
145
127
63
9
___________9
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*,^
*
*
*
*
*
*,^
*,^
*
*
*
*,^
*
*
*
^
*,^
*
*
*
*
*
*
*,^
*,^
*
*
*,^
*
*
Minmetals Land Ltd.
Eastern Communications Co. Ltd. Class B
Shandong Chenming Paper Holdings Ltd.
China Fangda Group Co. Ltd. Class B
Maoye International Holdings Ltd.
Xinjiang Xinxin Mining Industry Co. Ltd.
INESA Electron Co. Ltd. Class B
Bengang Steel Plates Co. Class B
Shang Gong Group Co. Ltd. Class B
Shanghai Jinjiang International Industrial Investment Co. Ltd. Class B
China Automation Group Ltd.
O-Net Communications Group Ltd.
Kama Co. Ltd. Class B
China Rare Earth Holdings Ltd.
Guangdong Provincial Expressway Development Co. Ltd. Class B
Chongqing Iron & Steel Co. Ltd.
Jinshan Development & Construction Co. Ltd. Class B
Shenzhen International Enterprise Co. Ltd. Class B
Shanghai Potevio Co. Ltd. Class B
Shanghai Yaohua Pilkington Glass Group Co. Ltd.
China Vanadium Titano - Magnetite Mining Co. Ltd.
Hidili Industry International Development Ltd.
Hainan Meilan International Airport Co. Ltd.
Hefei Meiling Co. Ltd. Class B
Boshiwa International Holding Ltd.
Jinchuan Group International Resources Co. Ltd.
Shanghai Dajiang Food Group Co. Ltd. Class B
Changchai Co. Ltd. Class B
China ITS Holdings Co. Ltd.
Jinzhou Port Co. Ltd. Class B
Winsway Enterprises Holdings Ltd.
SRE Group Ltd.
Dalian Refrigeration Co. Ltd. Class B
Foshan Huaxin Packaging Co. Ltd. Class B
Global Bio-Chem Technology Group Co. Ltd.
Fiyta Holdings Ltd. Class B
Chigo Holding Ltd.
Ausnutria Dairy Corp. Ltd.
Daqing Dairy Holdings Ltd.
Titan Petrochemicals Group Ltd.
Shanghai Automation Instrumentation Co. Ltd. Class B
Dynasty Fine Wines Group Ltd.
HKC Holdings Ltd.
Real Gold Mining Ltd.
Trony Solar Holdings Co. Ltd.
Agile Property Holdings Ltd Rights Exp. 11/11/2014
Lingbao Gold Co. Ltd.
HKC Holdings Ltd. Warrants Exp. 10/17/2015
5,279,084
Colombia (0.2%)
Bancolombia SA ADR
Grupo de Inversiones Suramericana SA
Ecopetrol SA
Almacenes Exito SA
^
Ecopetrol SA ADR
Cementos Argos SA
Grupo Aval Acciones y Valores Preference Shares
Corp Financiera Colombiana SA
Grupo de Inversiones Suramericana SA Preference Shares
Banco Davivienda SA Preference Shares
*
Cemex Latam Holdings SA
Interconexion Electrica SA ESP
Isagen SA ESP
*
Avianca Holdings SA Preference Shares
718,205
1,487,827
16,476,907
1,427,233
739,803
2,633,457
18,311,499
624,088
590,795
633,614
1,052,449
2,121,943
5,129,078
2,148,910
19
40,629
30,935
22,023
20,130
19,827
13,439
12,415
12,285
11,911
9,454
9,391
9,076
6,756
4,031
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
249,000
3,357
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Grupo Aval Acciones y Valores ADR
225,659
Czech Republic (0.0%)
CEZ AS
Komercni banka as
O2 Czech Republic AS
Philip Morris CR AS
1,016,087
96,400
415,389
2,839
28,099
20,660
4,639
1,259
___________
54,657
Denmark (1.1%)
Novo Nordisk A/S Class B
Danske Bank A/S
AP Moeller - Maersk A/S Class B
Novozymes A/S
AP Moeller - Maersk A/S Class A
Pandora A/S
Carlsberg A/S Class B
Coloplast A/S Class B
*
Vestas Wind Systems A/S
TDC A/S
DSV A/S
*
Jyske Bank A/S
GN Store Nord A/S
Chr Hansen Holding A/S
*
ISS A/S
*
Topdanmark A/S
Tryg A/S
*
Sydbank A/S
^
FLSmidth & Co. A/S
*
Genmab A/S
*
William Demant Holding A/S
*
Royal UNIBREW
H Lundbeck A/S
NKT Holding A/S
SimCorp A/S
Rockwool International A/S Class B
Spar Nord Bank A/S
Matas A/S
ALK-Abello A/S
*
Bavarian Nordic A/S
*
Auriga Industries A/S Class B
Dfds A/S
Schouw & Co.
*
Alm Brand A/S
*
OW Bunker A/S
Solar A/S Class B
*,^
Bang & Olufsen A/S
^
D/S Norden A/S
*
Amagerbanken A/S
12,352,216
4,985,546
42,579
1,483,549
28,571
762,186
669,393
635,327
1,406,785
5,070,175
1,100,367
448,707
1,029,726
555,783
599,257
518,420
150,871
465,216
301,034
288,450
157,386
51,311
377,032
148,810
204,210
40,210
527,020
223,596
36,029
122,631
72,790
43,664
72,665
415,057
129,331
35,811
190,625
54,047
537,565
558,261
136,883
99,364
68,776
64,998
64,173
58,950
55,361
47,169
38,705
32,926
24,197
23,997
22,377
16,728
16,514
16,326
14,766
13,648
12,560
11,935
8,381
8,012
7,721
6,165
5,855
5,333
4,914
4,055
3,797
3,760
3,703
3,225
2,266
1,701
1,658
1,478
1,421
—
___________
1,472,059
Egypt (0.0%)
*
Global Telecom Holding SAE GDR
Talaat Moustafa Group
Commercial International Bank Egypt SAE
*
Egyptian Financial Group-Hermes Holding
*
Orascom Telecom Media And Technology Holding SAE GDR
Telecom Egypt Co.
*
Egypt Kuwait Holding Co. SAE
*
Juhayna Food Industries
*
Six of October Development & Investment
*
Pioneers Holding for Financial Investments SAE
*
Medinet Nasr Housing
*
Palm Hills Developments SAE
Sidi Kerir Petrochemicals Co.
2,596,259
2,064,936
404,115
739,881
1,591,123
439,252
536,878
137,456
75,146
79,221
19,744
196,875
37,514
20
7,804
3,035
2,729
1,740
1,217
841
473
183
169
138
113
111
94
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
149,479
10,370
68,038
9,000
384,466
111,842
24,529
81,350
299,524
218,557
22,369
15,071
10,166
702
91
80
68
63
63
62
56
52
47
38
22
22
10
___________4
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
Global Telecom Holding SAE
Heliopolis Co. for Housing and Construction SAE
South Valley Cement
Oriental Weavers
Orascom Telecom Media And Technology Holding SAE
Citadel Capital SAE
Ezz Steel
Arab Cotton Ginning
Amer Group Holding
Egyptian Resorts Co.
Abu Dhabi Islamic Bank
Egyptian Financial & Industrial Co.
Maridive & Oil Services SAE
ElSwedy Electric Co.
19,325
Finland (0.7%)
Nokia Oyj
Sampo Oyj Class A
^
Kone Oyj Class B
Fortum Oyj
UPM-Kymmene Oyj
Wartsila OYJ Abp
Stora Enso Oyj
^
Elisa Oyj
Metso Oyj
Nokian Renkaat Oyj
Orion Oyj Class B
Neste Oil Oyj
Huhtamaki Oyj
Kesko Oyj Class B
Amer Sports Oyj
Tieto Oyj
Konecranes Oyj
Valmet Oyj
^
Cargotec Oyj Class B
^
Outotec Oyj
*
Outokumpu Oyj
Sponda Oyj
^
Kemira Oyj
Caverion Corp.
Metsa Board Oyj
^
YIT Oyj
Citycon Oyj
Uponor Oyj
Raisio Oyj
Ramirent Oyj
^
Sanoma Oyj
Cramo Oyj
*
Oriola-KD Oyj
^
Stockmann OYJ Abp Class B
*
Finnair Oyj
F-Secure Oyj
23,735,606
2,981,687
2,408,703
2,825,577
3,369,041
988,258
3,650,446
1,012,254
849,483
844,037
626,481
806,910
655,590
430,662
745,696
464,057
363,049
851,441
257,418
1,132,080
1,295,588
1,538,412
512,384
782,032
1,266,267
802,781
1,640,508
361,628
789,269
425,154
542,272
161,705
641,528
176,243
366,527
388,660
198,319
142,845
103,666
65,543
53,401
45,815
30,145
27,807
27,735
23,859
21,252
17,455
16,649
16,345
14,284
11,770
10,168
9,003
7,763
7,497
7,352
7,039
6,621
6,291
5,657
5,362
5,312
4,804
3,940
3,390
3,122
2,360
2,124
1,950
1,146
950
___________
918,741
France (5.9%)
Total SA
Sanofi
BNP Paribas SA
AXA SA
Schneider Electric SE
LVMH Moet Hennessy Louis Vuitton SA
Air Liquide SA
Danone SA
L'Oreal SA
Societe Generale SA
12,880,500
7,257,388
6,192,505
12,033,425
3,504,514
1,588,304
2,171,279
3,534,516
1,506,846
4,527,870
21
768,635
672,242
390,499
278,040
277,433
270,061
262,288
240,252
236,782
219,069
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
9,023,056
3,514,877
8,054,730
11,427,556
3,018,135
1,244,252
1,246,811
2,896,855
3,748,856
1,665,106
1,187,428
6,524,558
1,685,692
468,040
1,182,662
1,243,670
1,156,914
1,884,784
931,951
328,494
491,582
572,649
17,375,097
803,738
680,918
1,649,592
1,365,920
1,097,227
2,742,492
1,192,354
5,877,341
364,924
1,213,691
2,908,146
1,279,224
1,384,853
493,041
1,038,432
147,599
642,981
1,844,742
250,596
217,215
2,365,362
281,763
1,645,977
890,738
741,678
3,995,153
617,116
378,205
361,968
196,775
171,631
214,120
1,049,445
224,628
716,583
34,630
52,702
242,561
217,531
244,646
208,092
219,039
210,423
197,057
181,857
172,711
141,915
137,850
124,590
109,888
105,710
103,263
96,891
90,808
90,512
88,099
86,310
80,468
65,092
61,387
58,220
55,253
55,227
53,443
50,992
49,389
48,770
47,618
46,152
45,911
41,285
40,495
37,512
37,042
36,760
35,486
34,318
34,098
33,721
32,275
31,982
31,032
29,646
29,450
28,161
28,095
27,743
27,326
27,310
26,737
26,694
23,388
22,814
21,711
21,398
19,708
19,626
17,878
17,490
16,475
16,334
16,230
15,142
14,950
14,932
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
*
*
*
^
^
GDF Suez
Airbus Group NV
Vivendi SA
Orange SA
Vinci SA
Pernod Ricard SA
Essilor International SA
Cie de St-Gobain
Carrefour SA
Safran SA
Cie Generale des Etablissements Michelin
Credit Agricole SA
Legrand SA
Kering
Renault SA
Publicis Groupe SA
Lafarge SA
SES SA
Cap Gemini SA
Christian Dior SA
Valeo SA
Sodexo
Alcatel-Lucent
Dassault Systemes
Technip SA
Electricite de France SA
Alstom SA
Accor SA
Veolia Environnement SA
Bouygues SA
Natixis SA
Casino Guichard Perrachon SA
Zodiac Aerospace
Groupe Eurotunnel SA
Edenred
Bureau Veritas SA
AtoS
Eutelsat Communications SA
Iliad SA
Thales SA
Rexel SA
Aeroports de Paris
Gecina SA
Peugeot SA
Ingenico
Suez Environnement Co.
SCOR SE
Vallourec SA
STMicroelectronics NV
Klepierre
Arkema SA
Teleperformance
Wendel SA
Societe BIC SA
Fonciere Des Regions
CNP Assurances
ICADE
Lagardere SCA
Bollore SA
Hermes International
Eurazeo SA
Neopost SA
Orpea
Imerys SA
22
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
419,940
168,737
256,774
53,792
1,560,654
384,743
201,482
1,864,159
217,994
150,326
585,400
674,483
89,356
237,768
364,832
82,956
943,618
203,324
750,129
414,303
97,242
1,092,959
208,279
27,989
145,894
203,324
502,938
78,411
264,309
219,287
151,778
137,180
56,810
164,139
86,461
25,209
31,207
171,670
244,347
35,353
117,035
35,995
420,104
121,350
1,073,354
59,965
41,811
480,757
106,137
81,254
33,234
3,196,382
461,649
78,093
25,252
29,483
76,797
1,899
20,488
62,139
500,023
58,065
70,399
51,991
13,943
13,809
13,659
13,620
12,648
12,491
11,860
11,019
10,716
10,714
10,626
10,044
9,429
8,601
8,328
8,134
7,991
7,521
7,374
7,170
6,650
6,378
6,376
6,256
6,248
6,029
6,016
5,885
5,838
5,691
5,461
5,313
5,284
4,894
4,841
4,595
4,559
4,458
3,619
3,549
3,378
3,201
3,120
3,044
2,670
2,522
2,515
2,470
2,305
2,049
2,015
1,972
1,933
1,882
1,418
1,372
1,312
1,298
1,285
1,259
1,255
1,159
1,064
1,050
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*
*,^
*,^
*,^
*,^
*
*
^
*,^
*
^
*
^
*,^
*
*
*
*
*,^
*
^
JCDecaux SA
SEB SA
Eiffage SA
Eurofins Scientific SE
Havas SA
Faurecia
Rubis SCA
Technicolor SA
Ipsen SA
Remy Cointreau SA
UBISOFT Entertainment
Societe Television Francaise 1
BioMerieux
Korian-Medica
Plastic Omnium SA
Euler Hermes Group
Air France-KLM
Numericable Group SA
Altran Technologies SA
Metropole Television SA
Vicat
CGG SA
Nexans SA
Virbac SA
Alten SA
Numericable Group SA Rights Exp. 11/12/2014
Etablissements Maurel et Prom
Sopra Group SA
Mercialys SA
IPSOS
Nexity SA
Rallye SA
Eramet
Saft Groupe SA
Gaztransport Et Technigaz SA
Sartorius Stedim Biotech
Norbert Dentressangle SA
Bourbon SA
Beneteau SA
Vilmorin & Cie SA
Tarkett SA
Boiron SA
Societe d'Edition de Canal &
LISI
SOITEC
Groupe Fnac
Faiveley Transport SA
GameLoft SE
Albioma SA
Bonduelle S.C.A.
FFP
Solocal Group
MPI
Mersen
Societe de la Tour Eiffel
Guerbet
Jacquet Metal Service
Burelle SA
Stallergenes SA
Trigano SA
Derichebourg SA
GL Events
Haulotte Group SA
Assystem
23
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
47,093
58,244
19,633
22,354
14,429
18,209
4,799
894
811
666
616
558
536
90
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
^
*
^
Parrot SA
Manitou BF SA
Maisons France Confort SA
Union Financiere de France BQE SA
Esso SA Francaise
Seche Environnement SA
Groupe Steria SCA
7,794,746
Germany (5.7%)
Bayer AG
Siemens AG
BASF SE
Daimler AG
Allianz SE
SAP SE
Deutsche Telekom AG
Deutsche Bank AG
Bayerische Motoren Werke AG
Linde AG
Volkswagen AG Preference Shares
E.ON SE
Muenchener Rueckversicherungs-Gesellschaft AG
Deutsche Post AG
Continental AG
Fresenius SE & Co. KGaA
Henkel AG & Co. KGaA Preference Shares
RWE AG
Fresenius Medical Care AG & Co. KGaA
adidas AG
*
Commerzbank AG
Deutsche Boerse AG
Porsche Automobil Holding SE Preference Shares
Merck KGaA
Infineon Technologies AG
Henkel AG & Co. KGaA
*
ThyssenKrupp AG
HeidelbergCement AG
ProSiebenSat.1 Media AG
GEA Group AG
Beiersdorf AG
Brenntag AG
Symrise AG
Deutsche Wohnen AG
Volkswagen AG
HUGO BOSS AG
*
QIAGEN NV
K&S AG
Hannover Rueck SE
LANXESS AG
MTU Aero Engines AG
United Internet AG
*
METRO AG
Wirecard AG
*
GAGFAH SA
MAN SE
*
Sky Deutschland AG
LEG Immobilien AG
Deutsche Lufthansa AG
*
OSRAM Licht AG
TUI AG
*
Kabel Deutschland Holding AG
Freenet AG
Telefonica Deutschland Holding AG
Fuchs Petrolub SE Preference Shares
5,243,469
5,026,478
5,853,407
6,057,103
2,886,979
5,667,423
19,764,983
8,746,769
2,062,063
1,173,419
972,997
11,753,314
970,959
6,026,150
684,485
2,485,229
1,100,745
3,067,292
1,339,616
1,327,403
5,982,910
1,166,569
970,419
819,157
7,113,445
741,709
2,692,910
890,286
1,352,826
1,121,342
631,600
978,396
772,156
1,812,978
186,856
266,007
1,488,535
1,214,247
381,542
581,040
322,496
709,916
840,513
726,740
1,362,740
223,312
2,837,217
321,707
1,445,871
539,780
1,200,848
135,111
680,781
3,399,738
429,864
24
745,812
566,623
515,580
470,833
458,602
385,329
297,941
272,910
220,624
216,430
207,499
202,208
190,870
189,299
134,380
127,930
108,696
108,597
98,271
96,648
90,135
79,647
79,510
74,008
69,015
67,412
64,684
60,636
54,573
51,621
51,125
47,381
43,444
40,844
39,760
35,304
34,949
33,863
31,820
30,214
28,248
27,772
26,796
25,997
25,471
25,434
23,953
22,192
21,357
18,943
18,355
18,297
17,822
16,708
16,690
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
162,922
236,984
444,432
284,034
379,914
234,785
262,786
416,233
435,712
289,522
166,851
286,316
207,514
94,765
198,013
173,645
159,983
293,281
377,279
202,663
271,895
784,444
93,006
352,801
241,458
26,006
173,967
217,820
239,832
240,769
497,269
585,096
547,634
392,717
162,930
58,903
88,234
476,647
74,447
370,082
99,689
212,374
178,515
115,731
424,796
62,892
47,622
14,477
42,097
121,428
20,050
29,550
1,514,197
39,574
145,865
84,155
143,866
56,891
202,557
158,692
110,142
71,365
225,312
260,503
15,460
15,300
14,842
14,822
14,641
14,523
14,444
14,315
12,976
12,949
12,344
12,277
11,880
11,445
11,018
10,925
10,436
9,666
9,634
9,483
9,442
9,178
8,912
8,863
8,791
8,145
7,991
7,986
7,735
7,254
6,914
6,876
6,672
6,639
6,548
6,428
6,183
6,103
5,789
5,726
5,628
5,601
5,454
5,312
5,269
4,891
4,737
4,722
4,262
4,225
4,207
3,862
3,855
3,852
3,345
3,327
3,281
3,274
3,160
3,082
3,073
3,067
3,042
2,978
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
^
^
^
*
*,^
*
*,^
*,^
*,^
^
^
^
*
MorphoSys AG
Bilfinger SE
Evonik Industries AG
Aurubis AG
Stada Arzneimittel AG
Fraport AG Frankfurt Airport Services Worldwide
Axel Springer SE
Dialog Semiconductor plc
Rhoen Klinikum AG
Deutsche Euroshop AG
HOCHTIEF AG
Aareal Bank AG
Leoni AG
Wacker Chemie AG
Gerresheimer AG
KUKA AG
Fielmann AG
Celesio AG
DMG MORI SEIKI AG
Norma Group SE
Drillisch AG
TAG Immobilien AG
Krones AG
Software AG
KION Group AG
Rational AG
Wincor Nixdorf AG
Fuchs Petrolub SE
Talanx AG
Salzgitter AG
Suedzucker AG
Kloeckner & Co. SE
Aixtron SE
Nordex SE
Gerry Weber International AG
Sartorius AG Preference Shares
Duerr AG
Grand City Properties SA
Bechtle AG
SGL Carbon SE
Jungheinrich AG Preference Shares
CTS Eventim AG & Co. KGaA
ElringKlinger AG
Indus Holding AG
alstria office REIT-AG
Pfeiffer Vacuum Technology AG
Grenkeleasing AG
KWS Saat AG
Biotest AG Preference Shares
Aurelius AG
Puma SE
Bertrandt AG
Heidelberger Druckmaschinen AG
Draegerwerk AG & Co. KGaA Preference Shares
CompuGroup Medical AG
BayWa AG
Stroeer Media SE
Vossloh AG
Takkt AG
Wacker Neuson SE
Sixt SE Preference Shares
Rheinmetall AG
Patrizia Immobilien AG
Jenoptik AG
25
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
87,729
104,472
5,284
618,518
126,899
121,305
319,592
213,569
177,355
63,289
68,053
19,447
444,555
54,098
96,104
30,711
125,912
435,712
2,838
2,812
2,806
2,782
2,780
2,312
1,849
1,798
1,794
1,731
1,694
1,610
859
838
825
641
625
367
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
*
*,^
^
*
*,^
^
*,^
Sixt SE
Carl Zeiss Meditec AG
KSB AG Preference Shares
Deutz AG
Hamburger Hafen und Logistik AG
CAT Oil AG
Kontron AG
DIC Asset AG
comdirect bank AG
Deutsche Beteiligungs AG
SMA Solar Technology AG
Draegerwerk AG & Co. KGaA
QSC AG
Bauer AG
H&R AG
Delticom AG
CropEnergies AG
Rhoen-Klinikum AG Tender Rights Exp. 11/14/2014
7,559,084
Greece (0.1%)
*
National Bank of Greece SA
*
Piraeus Bank SA
OPAP SA
*
Alpha Bank AE
*
Hellenic Telecommunications Organization SA
FF Group
*
Hellenic Telecommunications Organization SA ADR
JUMBO SA
Titan Cement Co. SA
*
Public Power Corp. SA
*
Mytilineos Holdings SA
Grivalia Properties REIC
Hellenic Exchanges SA
Motor Oil Hellas Corinth Refineries SA
*
Ellaktor SA
*
Hellenic Petroleum SA
*
Bank of Cyprus PCL
Athens Water Supply & Sewage Co. SA
Metka SA
*
Intralot SA-Integrated Lottery Systems & Services
*
Marfin Investment Group Holdings SA
*
Cyprus Popular Bank PCL
9,673,144
12,731,246
1,338,130
24,187,533
875,038
281,040
1,341,580
616,600
283,623
681,565
519,074
243,270
389,242
340,697
862,623
460,274
7,567,873
255,077
158,484
672,359
2,952,029
12,597,118
23,317
18,535
16,251
15,781
9,887
9,208
7,459
6,766
6,294
5,181
3,340
2,637
2,622
2,505
2,443
2,367
1,963
1,762
1,549
953
782
631
___________
142,233
Hong Kong (2.6%)
AIA Group Ltd.
Hong Kong Exchanges and Clearing Ltd.
Hutchison Whampoa Ltd.
Cheung Kong Holdings Ltd.
Sun Hung Kai Properties Ltd.
Sands China Ltd.
Hong Kong & China Gas Co. Ltd.
Jardine Matheson Holdings Ltd.
Galaxy Entertainment Group Ltd.
Link REIT
CLP Holdings Ltd.
Hang Seng Bank Ltd.
Power Assets Holdings Ltd.
BOC Hong Kong Holdings Ltd.
Wharf Holdings Ltd.
Want Want China Holdings Ltd.
Swire Pacific Ltd. Class A
Hongkong Land Holdings Ltd.
Jardine Strategic Holdings Ltd.
Henderson Land Development Co. Ltd.
76,373,037
7,287,170
12,703,075
8,370,960
9,775,039
15,327,958
39,381,543
1,510,800
13,241,811
14,476,214
9,764,843
4,846,750
8,387,820
22,795,039
9,591,270
41,815,500
4,017,608
7,440,000
1,419,500
7,180,397
26
426,122
161,353
161,059
148,323
145,569
95,523
91,850
91,024
90,470
85,100
84,060
82,134
80,906
75,773
70,793
57,784
52,700
51,881
50,593
48,563
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
36,504,479
14,179,915
31,801,716
8,549,000
8,804,924
8,438,144
18,876,066
12,020,000
4,436,000
8,085,400
5,167,000
5,179,464
7,940,500
11,571,219
6,585,997
7,416,994
3,156,311
3,247,600
3,953,802
5,241,942
1,512,684
8,584,292
14,810,395
4,821,600
24,772,452
148,285,000
11,841,003
13,844,500
4,083,592
5,062,000
9,103,676
19,988,744
1,017,300
3,467,137
6,444,514
1,841,000
16,540,000
6,918,400
11,215,279
14,102,000
12,115,000
36,426,479
8,242,200
14,298,714
2,243,750
2,082,000
1,263,603
8,532,000
11,830,000
2,406,000
31,182,957
2,818,750
14,879,000
2,146,000
3,280,000
18,998,000
10,740,000
951,240
11,444,500
2,986,500
3,411,296
11,174,000
50,850,000
1,574,000
44,709
44,259
39,897
37,741
36,075
35,230
31,166
30,163
27,007
26,998
25,965
25,214
24,841
24,408
24,222
23,744
23,042
20,238
18,012
17,673
16,626
16,267
15,996
15,776
15,738
15,417
14,963
14,847
14,130
13,693
13,212
13,070
12,734
12,291
12,172
10,075
10,043
9,757
9,273
8,882
8,757
8,080
7,617
7,616
7,594
7,506
7,188
7,168
6,983
6,942
6,715
6,648
6,570
6,479
6,283
6,054
5,921
5,921
5,826
5,646
5,596
5,377
5,321
5,294
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
*
^
^
*,2
^
*,^
*
*
*
*
^
*,^
^
*,^
*
^
Li & Fung Ltd.
Hang Lung Properties Ltd.
New World Development Co. Ltd.
China Mengniu Dairy Co. Ltd.
MTR Corp. Ltd.
Bank of East Asia Ltd.
Sino Land Co. Ltd.
Tingyi Cayman Islands Holding Corp.
AAC Technologies Holdings Inc.
Samsonite International SA
Hang Lung Group Ltd.
Wheelock & Co. Ltd.
Techtronic Industries Co. Ltd.
SJM Holdings Ltd.
Wynn Macau Ltd.
Swire Properties Ltd.
Cheung Kong Infrastructure Holdings Ltd.
Prada SPA
Hysan Development Co. Ltd.
Yue Yuen Industrial Holdings Ltd.
ASM Pacific Technology Ltd.
NWS Holdings Ltd.
First Pacific Co. Ltd.
MGM China Holdings Ltd.
PCCW Ltd.
Semiconductor Manufacturing International Corp.
Esprit Holdings Ltd.
Sun Art Retail Group Ltd.
Kerry Properties Ltd.
Melco International Development Ltd.
Shangri-La Asia Ltd.
WH Group Ltd.
VTech Holdings Ltd.
Hopewell Holdings Ltd.
Cathay Pacific Airways Ltd.
Television Broadcasts Ltd.
New World China Land Ltd.
Chow Tai Fook Jewellery Group Ltd.
Goldin Financial Holdings Ltd.
Alibaba Health Information Technology Ltd.
Huabao International Holdings Ltd.
Global Brands Group Holding Ltd.
Uni-President China Holdings Ltd.
FIH Mobile Ltd.
Johnson Electric Holdings Ltd.
Cafe de Coral Holdings Ltd.
Orient Overseas International Ltd.
NagaCorp Ltd.
Xinyi Glass Holdings Ltd.
Stella International Holdings Ltd.
Superb Summit International Group Ltd.
L'Occitane International SA
Champion REIT
Luk Fook Holdings International Ltd.
Minth Group Ltd.
Brightoil Petroleum Holdings Ltd.
United Co. RUSAL plc
Dah Sing Financial Holdings Ltd.
Shun Tak Holdings Ltd.
Lifestyle International Holdings Ltd.
Kerry Logistics Network Ltd.
Pacific Basin Shipping Ltd.
REXLot Holdings Ltd.
Great Eagle Holdings Ltd.
27
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
16,734,000
10,220,000
6,470,000
22,397,018
21,907,763
14,344,000
1,698,200
4,542,000
41,620,000
2,360,556
6,134,000
6,715,000
5,411,000
8,072,000
3,080,000
57,880,000
4,368,000
7,638,000
7,103,000
1,492,000
2,824,500
143,597,559
4,964,000
21,848,000
3,900,000
8,196,875
6,592,000
58,720,000
7,856,000
3,142,000
6,123,356
18,287,804
6,613,000
5,050,000
4,674,000
16,881,556
1,807,200
3,601,000
4,800,000
6,910,343
5,576,000
8,961,000
20,156,000
2,132,000
17,792,885
3,112,500
88,080,000
5,634,000
6,747,000
1,508,000
5,830,000
5,319,536
4,304,000
10,585,000
13,802,000
4,510,052
14,980,000
68,843,833
8,261,000
2,834,000
13,780,000
47,612,000
9,502,000
3,334,000
5,206
5,136
5,062
5,053
4,996
4,867
4,775
4,766
4,403
4,284
4,279
4,204
4,145
4,139
4,131
4,105
3,913
3,887
3,836
3,721
3,632
3,517
3,465
3,434
3,420
3,292
3,270
3,158
3,131
3,087
2,961
2,926
2,891
2,834
2,775
2,750
2,704
2,682
2,678
2,637
2,636
2,632
2,624
2,549
2,502
2,386
2,295
2,280
2,252
2,197
2,192
2,167
2,082
2,032
2,018
1,959
1,937
1,776
1,756
1,729
1,671
1,669
1,641
1,638
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
^
^
*
^
*,^
^
^
*,^
*
^
^
*
*
^
^
*,^
^
^
^
^
*
*,^
^
^
*,^
^
*,^
*,^
*,^
^
^
^
^
^
*,^
*
^
^
*
*,^
^
*,^
China Travel International Investment Hong Kong Ltd.
Macau Legend Development Ltd.
Yingde Gases Group Co. Ltd.
Shougang Fushan Resources Group Ltd.
Shui On Land Ltd.
Xinyi Solar Holdings Ltd.
Dynam Japan Holdings Co. Ltd.
Towngas China Co. Ltd.
China LotSynergy Holdings Ltd.
Dah Sing Banking Group Ltd.
SA Sa International Holdings Ltd.
K Wah International Holdings Ltd.
Value Partners Group Ltd.
Truly International Holdings Ltd.
Pacific Textiles Holdings Ltd.
FDG Electric Vehicles Ltd.
Nexteer Automotive Group Ltd.
Giordano International Ltd.
SITC International Holdings Co. Ltd.
Chow Sang Sang Holdings International Ltd.
SmarTone Telecommunications Holdings Ltd.
G-Resources Group Ltd.
Guotai Junan International Holdings Ltd.
Town Health International Medical Group Ltd.
Texwinca Holdings Ltd.
CITIC Telecom International Holdings Ltd.
Yuexiu REIT
Landing International Development Ltd.
Hutchison Telecommunications Hong Kong Holdings Ltd.
TCL Communication Technology Holdings Ltd.
Hopewell Highway Infrastructure Ltd.
China Rongsheng Heavy Industries Group Holdings Ltd.
Sunlight REIT
Ju Teng International Holdings Ltd.
Haitong International Securities Group Ltd.
Carnival Group International Holdings Ltd.
Man Wah Holdings Ltd.
Sun Hung Kai & Co. Ltd.
Xinchen China Power Holdings Ltd.
Springland International Holdings Ltd.
Newocean Energy Holdings Ltd.
Parkson Retail Group Ltd.
United Photovoltaics Group Ltd.
Kowloon Development Co. Ltd.
Lung Cheong International Holdings Ltd.
United Laboratories International Holdings Ltd.
Sino Oil And Gas Holdings Ltd.
TCC International Holdings Ltd.
Prosperity REIT
APT Satellite Holdings Ltd.
Far East Consortium International Ltd.
Goodbaby International Holdings Ltd.
HKR International Ltd.
Honghua Group Ltd.
China Aerospace International Holdings Ltd.
Summit Ascent Holdings Ltd.
China Dynamics Holdings Ltd.
Lai Sun Development Co. Ltd.
Wanda Hotel Development Co. Ltd.
Regal Hotels International Holdings Ltd.
China Household Holdings Ltd.
China Public Procurement Ltd.
Singamas Container Holdings Ltd.
Midland Holdings Ltd.
28
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
5,980,000
728,419
4,822,000
16,392,000
28,620,000
6,798,000
1,649,000
5,714,000
1,056,018
1,599,000
62,250,000
2,615,000
1,508,353
8,345,000
10,516,000
2,512,000
3,111,000
7,868,000
1,620,000
1,976,500
21,360,000
2,602,000
21,490,000
4,716,000
3,413,000
2,846,000
22,120,000
120,984,000
1,288,000
1,077,972
1,880,000
3,050,000
5,897,000
3,381,500
23,372,000
3,756,225
1,573,000
23,385,000
2,774,000
1,027,000
240,000
244,600
1,612
1,582
1,522
1,512
1,457
1,438
1,438
1,377
1,347
1,341
1,331
1,322
1,252
1,225
1,205
1,176
1,139
1,126
1,091
1,084
1,047
1,034
998
924
871
855
718
697
676
660
654
570
555
545
528
465
409
344
318
181
51
39
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
^
*,^
^
^
^
*,^
*,^
^
*,^
^
^
*,^
*
*
*
*
*
*
*
*,^
*,^
*,^
*
*,^
*
*
EVA Precision Industrial Holdings Ltd.
Sun Hung Kai Properties Ltd. Warrants Exp. 04/08/2016
SPT Energy Group Inc.
Hutchison Harbour Ring Ltd.
Yanchang Petroleum International Ltd.
Anton Oilfield Services Group
Road King Infrastructure Ltd.
Trinity Ltd.
Liu Chong Hing Investment Ltd.
Varitronix International Ltd.
Suncorp Technologies Ltd.
Microport Scientific Corp.
SOCAM Development Ltd.
Polytec Asset Holdings Ltd.
Sunshine Oilsands Ltd.
AMVIG Holdings Ltd.
New World Department Store China Ltd.
China Merchants Land Ltd.
Yip's Chemical Holdings Ltd.
Louis XIII Holdings Ltd.
L'sea Resources International Holdings Ltd.
Hong Kong Television Network Ltd.
Emperor Watch & Jewellery Ltd.
TPV Technology Ltd.
Inspur International Ltd.
IT Ltd.
PetroAsian Energy Holdings Ltd.
CST Mining Group Ltd.
Dickson Concepts International Ltd.
China Taiping Insurance Holdings Rights Exp. 11/18/2014
Ports Design Ltd.
China Forestry Holdings Co. Ltd.
Henderson Investment Ltd.
Neo-Neon Holdings Ltd.
Mongolia Energy Corp. Ltd.
Silver base Group Holdings Ltd.
Qunxing Paper Holdings Co. Ltd.
Heng Tai Consumables Group Ltd.
Oriental Press Group
Sijia Group Co.
COFCO Land Holdings Ltd.
China Environmental Energy Investment Ltd.
3,396,736
Hungary (0.0%)
OTP Bank plc
MOL Hungarian Oil & Gas plc
Richter Gedeon Nyrt
*
Magyar Telekom Telecommunications plc
1,189,851
305,559
880,579
2,693,211
19,715
14,560
13,439
3,724
___________
51,438
India (2.1%)
Infosys Ltd.
Housing Development Finance Corp.
Reliance Industries Ltd.
Tata Consultancy Services Ltd.
Oil & Natural Gas Corp. Ltd.
HDFC Bank Ltd.
ICICI Bank Ltd.
ITC Ltd.
Sun Pharmaceutical Industries Ltd.
Hindustan Unilever Ltd.
Tata Motors Ltd.
Bharti Airtel Ltd.
*
Axis Bank Ltd.
HCL Technologies Ltd.
2,941,204
9,879,746
10,052,429
2,977,344
13,015,285
5,340,029
2,926,867
12,063,941
4,860,719
4,511,271
6,002,735
8,109,857
7,268,735
1,682,286
29
195,480
178,153
163,788
127,700
86,850
79,398
77,641
69,898
66,915
54,243
53,153
52,681
52,102
44,089
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,908,493
857,338
1,400,285
1,948,779
8,397,048
12,509,625
708,472
507,355
4,014,476
9,121,117
9,974,255
447,308
412,006
2,042,776
1,819,780
1,624,413
2,059,622
440,818
836,081
325,685
417,540
2,967,359
1,935,595
366,350
752,582
3,701,715
146,683
289,334
3,144,100
3,886,793
5,022,603
5,250,864
1,229,645
2,850,184
2,891,183
842,032
1,662,259
1,092,458
1,052,621
238,057
785,389
3,277,806
4,761,790
758,654
1,483,980
1,994,426
6,373,731
2,192,213
2,024,801
1,577,299
1,346,446
6,015,198
489,734
41,422
1,337,908
1,256,407
814,872
547,684
1,719,688
803,894
679,485
755,516
52,674
1,371,946
40,595
37,800
37,744
35,486
35,290
30,577
29,166
25,468
24,389
24,379
23,682
23,452
22,509
22,331
19,625
19,067
18,999
18,744
18,629
18,356
17,433
16,750
16,667
16,513
15,515
15,471
15,035
14,930
14,624
14,483
14,047
13,995
13,729
13,683
13,426
13,280
13,106
13,039
12,842
12,448
12,205
12,148
12,143
11,974
11,970
11,952
11,019
10,779
9,328
9,299
9,289
9,235
8,909
8,702
8,613
8,599
8,454
8,305
8,293
8,291
7,957
7,889
7,820
7,787
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
Mahindra & Mahindra Ltd.
State Bank of India
Larsen & Toubro Ltd.
Kotak Mahindra Bank Ltd.
Sesa Sterlite Ltd.
NTPC Ltd.
Tech Mahindra Ltd.
Hero MotoCorp Ltd.
Coal India Ltd.
Idea Cellular Ltd.
Power Grid Corp. of India Ltd.
HDFC Bank Ltd. ADR
Maruti Suzuki India Ltd.
Cipla Ltd.
Asian Paints Ltd.
IndusInd Bank Ltd.
Wipro Ltd.
Bajaj Auto Ltd.
Lupin Ltd.
ICICI Bank Ltd. ADR
Ultratech Cement Ltd.
Zee Entertainment Enterprises Ltd.
GAIL India Ltd.
United Spirits Ltd.
JSW Steel Ltd.
Bharat Heavy Electricals Ltd.
Nestle India Ltd.
Dr Reddy's Laboratories Ltd.
Adani Ports & Special Economic Zone Ltd.
Ambuja Cements Ltd.
NMDC Ltd.
Hindalco Industries Ltd.
Yes Bank Ltd.
Bharti Infratel Ltd.
Cairn India Ltd.
Aurobindo Pharma Ltd.
Adani Enterprises Ltd.
Bharat Petroleum Corp. Ltd.
Wipro Ltd. ADR
Dr Reddy's Laboratories Ltd. ADR
Shriram Transport Finance Co. Ltd.
Dabur India Ltd.
IDFC Ltd.
Godrej Consumer Products Ltd.
Tata Steel Ltd.
Indian Oil Corp. Ltd.
Reliance Communications Ltd.
Rural Electrification Corp. Ltd.
Power Finance Corp. Ltd.
LIC Housing Finance Ltd.
Motherson Sumi Systems Ltd.
Tata Power Co. Ltd.
Apollo Hospitals Enterprise Ltd.
Eicher Motors Ltd.
Titan Co. Ltd.
Indiabulls Housing Finance Ltd.
Reliance Infrastructure Ltd.
Bank of Baroda
Mahindra & Mahindra Financial Services Ltd.
Ranbaxy Laboratories Ltd.
Glenmark Pharmaceuticals Ltd.
Oil India Ltd.
Shree Cement Ltd.
UPL Ltd.
30
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
586,109
428,466
134,424
249,619
535,335
1,443,737
130,579
1,528,170
5,233,733
308,286
531,028
458,445
283,642
2,963,955
325,960
2,364,659
769,161
63,719
203,692
126,307
2,664,633
789,829
752,962
439,560
181,846
414,454
808,450
350,833
1,627,166
515,589
180,494
3,599,855
30,509
97,102
64,570
1,200,256
205,740
241,832
377,561
44,251
782,687
279,976
166,538
1,393,883
169,233
572,596
255,051
1,120,325
770,253
340,318
4,678,400
9,713,069
529,138
1,320,183
6,702,640
100,982
1,989,451
523,505
2,567,955
1,312,741
6,578
604,316
9,638,949
1,160,734
7,760
7,697
7,679
7,625
7,612
7,318
7,273
7,169
7,082
7,051
6,952
6,949
6,925
6,871
6,230
6,230
5,964
5,740
5,628
5,591
5,411
5,348
5,083
4,998
4,984
4,935
4,688
4,644
4,543
4,519
4,515
4,475
4,446
4,443
4,317
4,282
4,219
4,207
4,168
3,889
3,856
3,854
3,810
3,797
3,762
3,758
3,678
3,660
3,587
3,586
3,538
3,464
3,458
3,442
3,431
3,426
3,410
3,400
3,387
3,369
3,355
3,259
3,241
3,224
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
Bharat Forge Ltd.
Mindtree Ltd.
Grasim Industries Ltd.
Divi's Laboratories Ltd.
Siemens Ltd.
Marico Ltd.
Oracle Financial Services Software Ltd.
Havells India Ltd.
Steel Authority of India Ltd.
Cadila Healthcare Ltd.
Piramal Enterprises Ltd.
Punjab National Bank
ACC Ltd.
Federal Bank Ltd.
ABB India Ltd.
Jindal Steel & Power Ltd.
Reliance Capital Ltd.
GlaxoSmithKline Consumer Healthcare Ltd.
Colgate-Palmolive India Ltd.
GlaxoSmithKline Pharmaceuticals Ltd.
DLF Ltd.
Pidilite Industries Ltd.
Castrol India Ltd.
United Breweries Ltd.
Aditya Birla Nuvo Ltd.
Cummins India Ltd.
Max India Ltd.
Emami Ltd.
Hindustan Zinc Ltd.
Hindustan Petroleum Corp. Ltd.
Britannia Industries Ltd.
Reliance Power Ltd.
Page Industries Ltd.
Bajaj Finance Ltd.
Infosys Ltd. ADR
Apollo Tyres Ltd.
Jubilant Foodworks Ltd.
Bajaj Finserv Ltd.
CESC Ltd.
State Bank of India GDR
Arvind Ltd.
Info Edge India Ltd.
Bajaj Holdings & Investment Ltd.
Gujarat Pipavav Port Ltd.
Sundaram Finance Ltd.
Canara Bank
Torrent Pharmaceuticals Ltd.
Petronet LNG Ltd.
Bank of India
ING Vysya Bank Ltd.
Ashok Leyland Ltd.
GMR Infrastructure Ltd.
Mphasis Ltd.
Tata Global Beverages Ltd.
Jaiprakash Associates Ltd.
Bharat Electronics Ltd.
Indian Hotels Co. Ltd.
Berger Paints India Ltd.
JSW Energy Ltd.
Exide Industries Ltd.
MRF Ltd.
SKS Microfinance Ltd.
NHPC Ltd.
IIFL Holdings Ltd.
31
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,543,608
781,061
709,517
500,957
135,542
3,114,913
3,707,071
891,822
268,152
933,918
765,158
59,700
8,219,708
423,555
4,622,370
112,666
1,185,460
179,481
639,492
481,122
2,605,964
203,099
1,672,273
330,148
477,278
2,087,236
354,503
862,194
259,978
1,674,226
300,954
405,622
433,243
176,011
369,252
508,204
545,762
308,714
183,807
444,366
413,397
1,187,710
400,686
1,604,920
577,873
686,191
256,631
893,371
1,559,653
1,175,231
7,998,486
3,766,407
790,785
1,705,248
491,789
184,582
1,501,039
529,498
510,921
765,131
961,056
488,332
202,804
146,811
3,207
3,207
3,035
3,014
2,966
2,906
2,897
2,894
2,867
2,866
2,818
2,812
2,799
2,778
2,770
2,752
2,700
2,628
2,618
2,558
2,531
2,503
2,474
2,412
2,409
2,408
2,356
2,348
2,312
2,269
2,204
2,198
2,128
2,114
2,073
2,043
2,039
2,018
1,995
1,972
1,941
1,876
1,867
1,864
1,857
1,840
1,804
1,770
1,760
1,753
1,751
1,705
1,624
1,607
1,588
1,458
1,438
1,431
1,390
1,390
1,368
1,345
1,331
1,328
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Vakrangee Ltd.
IRB Infrastructure Developers Ltd.
TVS Motor Co. Ltd.
Dewan Housing Finance Corp. Ltd.
Credit Analysis & Research Ltd.
National Aluminium Co. Ltd.
Adani Power Ltd.
Hexaware Technologies Ltd.
Amara Raja Batteries Ltd.
Crompton Greaves Ltd.
Union Bank of India
Tata Motors Ltd. ADR
Unitech Ltd.
Tata Communications Ltd.
IFCI Ltd.
Just Dial Ltd.
Jammu & Kashmir Bank Ltd.
Thermax Ltd.
Voltas Ltd.
Sun TV Network Ltd.
NCC Ltd.
Wockhardt Ltd.
Jain Irrigation Systems Ltd.
PI Industries Ltd.
Hathway Cable & Datacom Ltd.
IDBI Bank Ltd.
Tata Chemicals Ltd.
Amtek Auto Ltd.
Karur Vysya Bank Ltd.
Housing Development & Infrastructure Ltd.
Biocon Ltd.
Coromandel International Ltd.
Godrej Industries Ltd.
Ipca Laboratories Ltd.
Ramco Cements Ltd.
Oberoi Realty Ltd.
Prestige Estates Projects Ltd.
Great Eastern Shipping Co. Ltd.
Strides Arcolab Ltd.
Engineers India Ltd.
Gateway Distriparks Ltd.
Sintex Industries Ltd.
Oriental Bank of Commerce
Indiabulls Real Estate Ltd.
Muthoot Finance Ltd.
Torrent Power Ltd.
Sobha Developers Ltd.
Essar Oil Ltd.
L&T Finance Holdings Ltd.
PTC India Ltd.
Suzlon Energy Ltd.
South Indian Bank Ltd.
Syndicate Bank
Dish TV India Ltd.
Sun Pharma Advanced Research Co. Ltd.
Gujarat Gas Co. Ltd.
Indian Overseas Bank
DEN Networks Ltd.
Indian Bank
India Cements Ltd.
UCO Bank
Videocon Industries Ltd.
Indraprastha Gas Ltd.
Century Textiles & Industries Ltd.
32
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
42,035
1,356,433
811,209
604,857
447,189
2,007,730
254,172
531,867
971,611
74,947
799,193
537,480
535,846
1,246,063
124,727
730,328
678,278
296,791
456,922
156,077
91,683
1,250,160
993,952
826,689
2,476,247
670,306
676,911
1,860,521
316,659
1,597,447
120,494
301,618
701,378
2,782,308
342,887
128,097
2,754,258
855,285
16,320
296,791
1,461,217
312,129
32,150
1,327
1,311
1,281
1,193
1,110
1,084
1,076
1,074
1,061
1,020
1,011
1,007
966
965
940
929
928
912
872
860
794
779
776
740
687
676
664
591
546
489
456
451
441
425
373
363
298
283
275
232
178
57
31
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
CMC Ltd.
Mangalore Refinery & Petrochemicals Ltd.
Gujarat State Petronet Ltd.
Gujarat State Fertilisers & Chemicals Ltd.
Gujarat Mineral Development Corp. Ltd.
Hindustan Construction Co. Ltd.
McLeod Russel India Ltd.
Karnataka Bank Ltd.
Central Bank of India
Multi Commodity Exchange of India Ltd.
Jindal Saw Ltd.
Allahabad Bank
Rolta India Ltd.
Srei Infrastructure Finance Ltd.
Raymond Ltd.
Welspun Corp. Ltd.
Andhra Bank
Polaris Financial Technology Ltd.
Future Retail Ltd.
Corp Bank
Alstom India Ltd.
Punj Lloyd Ltd.
Vijaya Bank
Balrampur Chini Mills Ltd.
Shree Renuka Sugars Ltd.
Chambal Fertilizers & Chemicals Ltd.
Shipping Corp. of India Ltd.
Bajaj Hindusthan Ltd.
Bhushan Steel Ltd.
IVRCL Ltd.
Jet Airways India Ltd.
Radico Khaitan Ltd.
Pipavav Defence & Offshore Engineering Co. Ltd.
Tata Teleservices Maharashtra Ltd.
Bombay Dyeing & Manufacturing Co. Ltd.
Financial Technologies India Ltd.
Lanco Infratech Ltd.
Parsvnath Developers Ltd.
Sesa Sterlite Ltd. ADR
Intellect Design Arena Ltd.
Gujarat NRE Coke Ltd.
Nagarjuna Fertilizers & Chemicals Ltd.
Jain Irrigation Systems Ltd.
2,837,083
Indonesia (0.5%)
Bank Central Asia Tbk PT
Telekomunikasi Indonesia Persero Tbk PT
Astra International Tbk PT
Bank Rakyat Indonesia Persero Tbk PT
Bank Mandiri Persero Tbk PT
Perusahaan Gas Negara Persero Tbk PT
Semen Indonesia Persero Tbk PT
Bank Negara Indonesia Persero Tbk PT
Kalbe Farma Tbk PT
Unilever Indonesia Tbk PT
Indocement Tunggal Prakarsa Tbk PT
Charoen Pokphand Indonesia Tbk PT
Indofood Sukses Makmur Tbk PT
United Tractors Tbk PT
Gudang Garam Tbk PT
Lippo Karawaci Tbk PT
Tower Bersama Infrastructure Tbk PT
XL Axiata Tbk PT
Adaro Energy Tbk PT
77,257,200
317,713,300
126,688,400
67,786,900
58,857,124
67,144,200
18,769,200
46,761,995
131,766,410
7,195,400
8,415,800
46,314,458
27,619,800
9,536,903
2,928,500
120,737,500
12,453,400
18,037,423
80,162,478
33
83,587
72,924
71,906
62,305
50,512
33,080
24,998
23,043
18,598
18,112
16,950
16,104
15,619
14,719
14,000
10,750
9,186
8,249
7,617
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
68,663,400
30,637,112
19,831,509
12,919,000
7,429,800
23,798,100
65,679,300
45,957,700
5,073,700
30,513,618
17,269,800
2,516,600
156,201,000
27,152,800
9,898,100
12,702,998
2,053,600
59,491,200
13,553,900
44,367,700
74,853,800
76,528,200
16,918,000
7,942,900
6,961,500
27,778,678
21,934,697
10,608,900
218,863,532
4,483,600
1,542,300
20,994,900
37,275,209
15,680,287
24,588,100
31,201,400
126,413,500
36,846,200
20,004,200
43,804,600
17,643,300
274,678,500
9,091,300
202,316,500
18,949,700
5,296,000
3,267,700
9,803,100
25,926,000
94,762,000
6,953,500
41,394,000
26,000
7,184
7,105
6,948
6,863
6,804
6,722
6,228
6,108
5,441
4,951
4,505
4,413
4,335
4,145
4,053
4,031
4,027
3,736
3,211
2,992
2,903
2,880
2,743
2,547
2,109
2,104
2,066
2,064
2,048
1,971
1,767
1,686
1,636
1,603
1,565
1,537
1,444
1,433
1,293
1,280
1,193
1,136
1,084
837
747
693
568
515
420
392
284
171
___________7
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Summarecon Agung Tbk PT
Media Nusantara Citra Tbk PT
Bank Danamon Indonesia Tbk PT
Jasa Marga Persero Tbk PT
Indofood CBP Sukses Makmur Tbk PT
Surya Citra Media Tbk PT
Ciputra Development Tbk PT
Bumi Serpong Damai Tbk PT
Tambang Batubara Bukit Asam Persero Tbk PT
Global Mediacom Tbk PT
Matahari Putra Prima Tbk PT
Indo Tambangraya Megah Tbk PT
MNC Investama Tbk PT
Trada Maritime Tbk PT
AKR Corporindo Tbk PT
Vale Indonesia Tbk PT
Astra Agro Lestari Tbk PT
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT
Wijaya Karya Persero Tbk PT
Ace Hardware Indonesia Tbk PT
Alam Sutera Realty Tbk PT
Pakuwon Jati Tbk PT
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT
Medco Energi Internasional Tbk PT
Indosat Tbk PT
Arwana Citramulia Tbk PT
Bank Tabungan Negara Persero Tbk PT
Holcim Indonesia Tbk PT
Energi Mega Persada Tbk PT
Mitra Adiperkasa Tbk PT
Siloam International Hospitals Tbk PT
Aneka Tambang Persero Tbk PT
Garuda Indonesia Persero Tbk PT
Timah Persero Tbk PT
Surya Semesta Internusa Tbk PT
Intiland Development Tbk PT
Bumi Resources Tbk PT
Sigmagold Inti Perkasa Tbk PT
Salim Ivomas Pratama Tbk PT
Agung Podomoro Land Tbk PT
Ramayana Lestari Sentosa Tbk PT
Bakrie and Brothers Tbk PT
Gajah Tunggal Tbk PT
Bakrieland Development Tbk PT
Krakatau Steel Persero Tbk PT
Harum Energy Tbk PT
Sampoerna Agro PT
Indika Energy Tbk PT
Berlian Laju Tanker Tbk PT
Bakrie Telecom Tbk PT
BISI International Tbk PT
Darma Henwa Tbk PT
Citra Marga Nusaphala Persada Tbk PT
722,787
Ireland (0.2%)
*
Bank of Ireland
Kerry Group plc Class A
*
Ryanair Holdings plc ADR
Smurfit Kappa Group plc
Paddy Power plc
Kingspan Group plc
Glanbia plc
C&C Group plc
*
Ryanair Holdings plc
174,440,454
921,531
719,647
1,452,219
233,610
1,071,135
1,099,497
2,182,543
701,590
34
68,613
62,641
39,969
29,999
17,024
16,743
15,530
9,728
6,690
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
128,674
1,144,792
698,992
2,176
2,061
—
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
FBD Holdings plc
Aer Lingus Group plc
Irish Bank Resolution Corp. Ltd.
271,174
Israel (0.5%)
Teva Pharmaceutical Industries Ltd.
Bank Hapoalim BM
*
Bank Leumi Le-Israel BM
Bezeq The Israeli Telecommunication Corp. Ltd.
Israel Chemicals Ltd.
NICE-Systems Ltd.
Delek Group Ltd.
*
Israel Discount Bank Ltd. Class A
Elbit Systems Ltd.
*
Mizrahi Tefahot Bank Ltd.
Azrieli Group
*
Israel Corp. Ltd.
Gazit-Globe Ltd.
Frutarom Industries Ltd.
Osem Investments Ltd.
Paz Oil Co. Ltd.
*
EZchip Semiconductor Ltd.
*
Partner Communications Co. Ltd.
Harel Insurance Investments & Financial Services Ltd.
Strauss Group Ltd.
Alony Hetz Properties & Investments Ltd.
Shikun & Binui Ltd.
*
Delek Energy Systems Ltd.
Reit 1 Ltd.
*
Nitsba Holdings 1995 Ltd.
Cellcom Israel Ltd. (Registered)
Ormat Industries
*
Oil Refineries Ltd.
*
Compugen Ltd.
Melisron Ltd.
*
Allot Communications Ltd.
*
Jerusalem Oil Exploration
Amot Investments Ltd.
*
Clal Insurance Enterprises Holdings Ltd.
*
Tower Semiconductor Ltd.
Ituran Location and Control Ltd.
Delek Automotive Systems Ltd.
First International Bank Of Israel Ltd.
Migdal Insurance & Financial Holding Ltd.
*
Nova Measuring Instruments Ltd.
*
Evogene Ltd.
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.
*
Airport City Ltd.
*
Menorah Mivtachim Holdings Ltd.
*
Mazor Robotics Ltd.
Norstar Holdings Inc.
Phoenix Holdings Ltd.
*
Gilat Satellite Networks Ltd.
*
Naphtha Israel Petroleum Corp. Ltd.
*
Silicom Ltd.
Electra Ltd.
*
Africa Israel Investments Ltd.
Africa Israel Properties Ltd.
Jerusalem Economy Ltd.
Shufersal Ltd.
Cellcom Israel Ltd.
*
AudioCodes Ltd.
*
Discount Investment Corp. Ltd.
*
Ceragon Networks Ltd.
6,008,906
6,267,681
7,937,349
11,955,394
2,798,051
336,109
29,852
5,748,532
151,098
731,536
232,742
14,720
545,327
224,769
242,462
30,781
186,077
545,046
689,442
201,346
468,437
1,247,835
4,381
933,783
158,355
219,138
321,933
6,715,132
288,543
80,577
180,963
50,542
613,385
121,954
189,640
91,553
178,946
127,666
1,298,386
174,351
151,472
37,513
181,945
137,890
257,363
56,591
457,345
258,325
178,713
33,339
8,651
693,410
74,359
146,266
410,376
96,644
204,540
129,965
364,505
35
339,738
32,046
28,403
20,281
18,873
13,590
10,245
9,300
9,212
8,097
7,499
7,251
6,364
5,594
4,685
4,387
3,848
3,576
3,464
3,256
3,120
2,850
2,818
2,411
2,307
2,223
2,186
2,174
2,133
2,109
2,092
2,009
1,931
1,926
1,893
1,840
1,814
1,789
1,747
1,746
1,686
1,677
1,619
1,467
1,466
1,381
1,365
1,250
1,155
1,130
1,121
1,098
1,072
1,054
1,013
978
965
885
577
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
139,475
11,192
6,314
40,342
146,605
15,894
52,298
572
370
361
335
80
17
___________3
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
Kamada Ltd.
Hadera Paper Ltd.
Property & Building Corp. Ltd.
Elco Ltd.
Babylon Ltd.
Clal Biotechnology Industries Ltd.
Africa Israel Investments Ltd Warrants Exp. 03/31/2015
607,524
Italy (1.7%)
Eni SPA
Intesa Sanpaolo SPA (Registered)
Enel SPA
UniCredit SPA
Assicurazioni Generali SPA
*
Telecom Italia SPA (Registered)
Snam SPA
*,^
Fiat Chrysler Automobiles NV
Atlantia SPA
Luxottica Group SPA
Tenaris SA
CNH Industrial NV
Terna Rete Elettrica Nazionale SPA
Unione di Banche Italiane SCpA
Telecom Italia SPA (Bearer)
Banco Popolare SC
*
Mediobanca SPA
Pirelli & C. SPA
Exor SPA
*
Saipem SPA
Enel Green Power SPA
*
Banca Popolare dell'Emilia Romagna SC
Prysmian SPA
*
Finmeccanica SPA
Banca Monte dei Paschi di Siena SPA
*
Banca Popolare di Milano Scarl
Azimut Holding SPA
*
Mediaset SPA
UnipolSai SPA
Davide Campari-Milano SPA
Banca Popolare di Sondrio SCARL
Mediolanum SPA
Recordati SPA
Hera SPA
Moncler SPA
^
GTECH SPA
Banca Generali SPA
A2A SPA
Ansaldo STS SPA
^
Tod's SPA
Unipol Gruppo Finanziario SPA Preference Shares
*
Credito Valtellinese SC
Salvatore Ferragamo SPA
Italcementi SPA
*
World Duty Free SPA
Unipol Gruppo Finanziario SPA
Interpump Group SPA
*
Yoox SPA
Brembo SPA
^
UnipolSai SPA
Buzzi Unicem SPA
De' Longhi
Parmalat SPA
DiaSorin SPA
*
Sorin SPA
15,620,357
74,729,910
41,124,172
28,639,252
7,990,010
66,208,701
13,279,862
5,391,848
2,519,491
1,114,034
2,719,708
5,816,321
9,044,990
5,472,875
38,262,108
2,279,248
3,469,835
2,105,385
620,719
1,589,098
9,805,544
3,027,448
1,300,291
2,424,674
27,788,685
27,877,676
642,179
4,260,446
5,213,971
1,797,221
2,843,940
1,634,535
628,407
3,870,597
710,397
413,936
357,432
8,956,180
762,159
85,456
1,733,077
6,962,603
297,606
1,220,766
811,773
1,403,603
498,498
349,130
192,690
2,359,104
455,974
308,210
1,943,061
146,595
2,485,740
36
332,676
219,380
210,017
207,104
163,776
74,795
71,816
60,170
59,312
56,692
53,814
47,419
45,598
42,918
34,209
33,043
30,578
28,196
27,066
24,929
24,099
23,085
22,519
21,889
21,147
20,979
15,025
14,251
14,004
12,924
11,374
11,006
10,876
10,180
9,852
9,641
9,487
8,972
8,760
7,862
7,717
7,209
7,033
7,003
6,867
6,785
6,502
6,451
6,389
6,303
6,165
6,030
5,840
5,664
5,560
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
139,938
796,113
106,562
261,504
297,527
439,877
51,887,903
5,997,988
310,271
481,330
304,175
1,218,353
2,756,748
203,086
233,720
542,290
77,323
1,076,746
148,012
233,044
198,708
2,203,107
2,295,621
300,660
351,133
82,959
106,277
1,586,012
1,908,572
486,445
154,640
177,742
973,486
790,642
494,041
37,665
1,838,517
220,031
799,782
250,655
2,263,804
64,801
220,031
2,837,088
5,547
5,397
5,340
4,717
4,609
4,404
4,352
4,135
3,797
3,704
3,489
3,356
3,332
3,236
3,213
3,177
3,031
3,009
2,995
2,803
2,688
2,318
2,302
2,102
2,101
1,935
1,705
1,617
1,592
1,488
1,275
1,224
1,042
1,000
908
896
859
790
660
652
627
470
245
46
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
^
*,^
^
*
*
*,^
^
*
*,^
*
^
*,^
*,^
*,^
*,^
*
^
*,^
*,^
*,^
*,^
*,^
*
Tenaris SA ADR
Autogrill SPA
Ei Towers SPA
Danieli & C Officine Meccaniche SPA
Societa Cattolica di Assicurazioni SCRL
Societa Iniziative Autostradali e Servizi SPA
Banca Carige SPA
Beni Stabili SpA SIIQ
ACEA SPA
Credito Emiliano SPA
ERG SPA
Salini Impregilo SPA
Iren SPA
MARR SPA
Indesit Co. SPA
Amplifon SPA
Industria Macchine Automatiche SPA
Piaggio & C SPA
Brunello Cucinelli SPA
ASTM SPA
Safilo Group SPA
RCS MediaGroup SPA
CIR-Compagnie Industriali Riunite SPA
Astaldi SPA
Cementir Holding SPA
Danieli & C Officine Meccaniche SPA
Italmobiliare SPA
Saras SPA
Immobiliare Grande Distribuzione
Geox SPA
Esprinet SPA
Zignago Vetro SPA
Gruppo Editoriale L'Espresso SPA
Falck Renewables SPA
DeA Capital SPA
Italmobiliare SPA
Cofide SPA
Trevi Finanziaria Industriale SPA
Arnoldo Mondadori Editore SPA
Sogefi SPA
Juventus Football Club SPA
Fiera Milano SPA
Trevi Finanziaria Industriale SPA Rights Exp. 11/06/2014
Gemina SPA CVR
2,317,143
Japan (16.1%)
Toyota Motor Corp.
Mitsubishi UFJ Financial Group Inc.
SoftBank Corp.
Honda Motor Co. Ltd.
Sumitomo Mitsui Financial Group Inc.
^
Mizuho Financial Group Inc.
Hitachi Ltd.
Japan Tobacco Inc.
KDDI Corp.
Astellas Pharma Inc.
Canon Inc.
FANUC Corp.
Takeda Pharmaceutical Co. Ltd.
Mitsubishi Estate Co. Ltd.
Seven & I Holdings Co. Ltd.
Mitsui Fudosan Co. Ltd.
East Japan Railway Co.
Central Japan Railway Co.
16,796,710
89,710,333
5,968,063
11,371,530
8,518,974
151,739,250
29,425,106
6,686,654
3,471,130
14,006,145
7,177,656
1,245,299
4,905,809
8,015,755
4,945,008
6,009,915
2,406,476
1,201,060
37
1,010,426
534,906
442,226
361,806
346,299
276,509
236,265
231,671
223,622
221,240
221,055
218,793
213,997
205,842
195,258
194,641
190,314
185,299
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
8,959,616
2,613,084
10,967,866
12,523,282
13,482,309
8,913,900
16,083,933
4,520,891
2,344,639
6,037,429
1,271,274
53,605,029
4,225,635
3,026,737
288,964
22,249,385
3,969,306
20,318,400
3,336,322
6,326,590
7,918,394
336,031
9,843,655
26,067,104
8,225,320
393,239
7,172,000
1,692,820
2,747,033
24,271,511
2,682,305
2,051,256
2,907,519
1,411,308
2,650,465
11,094,910
2,442,282
15,005,382
2,728,511
1,314,403
3,377,892
4,094,110
7,136,748
3,447,967
5,843,300
5,630,172
673,295
334,264
8,463,144
11,970,428
1,891,198
11,295,378
10,569,793
1,748,611
1,397,305
1,089,366
499,879
3,564,758
4,861,667
15,363,860
4,408,897
9,826,450
3,265,791
2,447,166
178,629
169,979
168,038
163,308
162,632
149,460
148,869
146,504
146,472
145,072
144,573
143,765
141,221
140,954
139,723
139,515
134,675
129,025
127,986
127,483
126,592
124,700
120,521
116,436
115,159
113,962
109,137
106,582
104,081
100,079
98,063
96,247
95,616
92,739
90,100
88,432
87,556
87,329
85,408
81,480
81,164
78,900
77,245
75,660
74,896
73,600
73,238
72,943
70,302
69,625
69,152
69,126
68,729
68,506
67,783
67,602
67,192
66,892
66,839
66,735
66,693
66,541
65,398
62,797
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
Mitsubishi Corp.
Shin-Etsu Chemical Co. Ltd.
Mitsui & Co. Ltd.
Mitsubishi Electric Corp.
Panasonic Corp.
NTT DOCOMO Inc.
Nissan Motor Co. Ltd.
Tokio Marine Holdings Inc.
Nippon Telegraph & Telephone Corp.
Komatsu Ltd.
Murata Manufacturing Co. Ltd.
Nippon Steel & Sumitomo Metal Corp.
Bridgestone Corp.
Denso Corp.
Keyence Corp.
Nomura Holdings Inc.
Fuji Heavy Industries Ltd.
Mitsubishi Heavy Industries Ltd.
Kao Corp.
Sony Corp.
Kubota Corp.
Fast Retailing Co. Ltd.
ITOCHU Corp.
Toshiba Corp.
ORIX Corp.
SMC Corp.
Dai-ichi Life Insurance Co. Ltd.
Daikin Industries Ltd.
Sumitomo Realty & Development Co. Ltd.
Sumitomo Mitsui Trust Holdings Inc.
Hoya Corp.
Kyocera Corp.
FUJIFILM Holdings Corp.
Nidec Corp.
Suzuki Motor Corp.
Daiwa Securities Group Inc.
Otsuka Holdings Co. Ltd.
Tokyo Gas Co. Ltd.
Asahi Group Holdings Ltd.
Secom Co. Ltd.
Mazda Motor Corp.
Daiwa House Industry Co. Ltd.
Sumitomo Corp.
MS&AD Insurance Group Holdings Inc.
Inpex Corp.
Kirin Holdings Co. Ltd.
Nintendo Co. Ltd.
Oriental Land Co. Ltd.
Asahi Kasei Corp.
Resona Holdings Inc.
Olympus Corp.
Fujitsu Ltd.
Marubeni Corp.
Eisai Co. Ltd.
Omron Corp.
Tokyo Electron Ltd.
Shimano Inc.
Ajinomoto Co. Inc.
Sumitomo Electric Industries Ltd.
JX Holdings Inc.
Daiichi Sankyo Co. Ltd.
Toray Industries Inc.
JFE Holdings Inc.
Sompo Japan Nipponkoa Holdings Inc.
38
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
485,916
591,138
16,502,932
2,309,262
1,206,190
1,045,672
4,939,400
2,550,049
4,187,050
4,495,708
4,034,176
8,005,504
1,424,819
2,025,122
2,243,853
1,073,680
12,521,834
4,917,685
8,001,455
3,370,716
4,440,883
799,475
7,948,448
781,069
3,599,710
9,006,749
4,412,952
1,738,747
8,596,458
1,410,945
972,434
888,011
1,252,057
4,004,824
2,488,495
3,936,130
3,006,952
1,808,144
11,289,546
3,958,353
1,776,733
9,792,304
692,081
3,033,187
449,839
6,741,399
3,955,371
602,566
1,405,391
1,388,819
1,427,116
1,096,928
3,174,189
4,890,445
6,797,285
6,522,678
1,777,409
9,777,919
2,704,527
9,257,809
1,445,000
2,955,695
928,183
2,297,663
61,364
60,589
59,498
58,688
58,210
57,630
56,478
54,971
54,739
54,165
53,988
53,422
53,394
52,646
52,554
51,545
50,460
49,037
48,184
47,420
47,080
46,839
46,354
45,063
45,042
44,468
44,417
43,607
43,085
42,972
42,774
42,053
41,981
41,886
41,624
41,436
40,398
39,910
39,605
39,456
39,225
38,873
38,508
38,363
38,341
38,090
37,591
37,517
36,966
36,847
36,276
36,084
35,923
34,999
34,743
34,402
34,210
34,130
33,620
33,618
32,955
32,342
32,107
31,593
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*,^
^
*
^
*
Daito Trust Construction Co. Ltd.
Ono Pharmaceutical Co. Ltd.
NEC Corp.
Terumo Corp.
West Japan Railway Co.
Nitto Denko Corp.
Rakuten Inc.
Yamato Holdings Co. Ltd.
T&D Holdings Inc.
Chubu Electric Power Co. Inc.
Isuzu Motors Ltd.
Tokyu Corp.
Dentsu Inc.
Shionogi & Co. Ltd.
Unicharm Corp.
Toyota Industries Corp.
Osaka Gas Co. Ltd.
Kansai Electric Power Co. Inc.
Hankyu Hanshin Holdings Inc.
Sumitomo Metal Mining Co. Ltd.
Ricoh Co. Ltd.
Makita Corp.
Bank of Yokohama Ltd.
TDK Corp.
Sekisui House Ltd.
IHI Corp.
Aeon Co. Ltd.
Japan Exchange Group Inc.
Mitsubishi Chemical Holdings Corp.
Chugai Pharmaceutical Co. Ltd.
Sysmex Corp.
Seiko Epson Corp.
Aisin Seiki Co. Ltd.
Shizuoka Bank Ltd.
Shiseido Co. Ltd.
Mitsubishi Motors Corp.
NSK Ltd.
LIXIL Group Corp.
Kintetsu Corp.
Dai Nippon Printing Co. Ltd.
NGK Insulators Ltd.
Kawasaki Heavy Industries Ltd.
Yakult Honsha Co. Ltd.
Tohoku Electric Power Co. Inc.
MEIJI Holdings Co. Ltd.
Taisei Corp.
Odakyu Electric Railway Co. Ltd.
Rohm Co. Ltd.
JGC Corp.
NGK Spark Plug Co. Ltd.
Toyota Tsusho Corp.
Recruit Holdings Co. Ltd.
Konica Minolta Inc.
Chiba Bank Ltd.
Tobu Railway Co. Ltd.
Asahi Glass Co. Ltd.
Yamaha Motor Co. Ltd.
Sumitomo Chemical Co. Ltd.
Sekisui Chemical Co. Ltd.
Tokyo Electric Power Co. Inc.
Nippon Paint Holdings Co. Ltd.
Kyushu Electric Power Co. Inc.
Electric Power Development Co. Ltd.
Isetan Mitsukoshi Holdings Ltd.
39
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
800,700
483,280
4,154,794
2,216,000
2,238,137
1,237,564
504,847
4,296,404
18,686,912
8,481,100
3,849,175
1,605,827
803,882
1,240,313
416,293
5,448,984
1,212,878
7,605,398
1,178,011
10,284,567
499,969
3,852,365
7,381,969
3,134,187
1,968,745
2,209,104
10,102,150
1,222,593
11,300,037
5,714,425
7,955,570
1,628,033
1,706,883
5,429,284
198,220
794,000
5,523,000
2,004,782
1,459,283
4,307,506
1,277,306
1,437,354
2,617,000
2,007,224
7,113,923
1,589,043
661,363
247,500
1,423,853
1,355,080
359,600
6,013,705
624,279
1,810,500
1,604,936
1,010,751
1,974,653
296,733
2,963,318
1,871,500
1,595,112
625,151
1,212,441
151,400
31,482
31,107
31,090
30,740
30,698
30,610
30,302
30,208
30,088
30,022
29,635
29,402
28,971
28,765
28,463
28,286
28,080
27,950
27,172
27,146
26,721
26,552
26,349
26,345
26,290
25,930
25,848
25,825
25,424
25,408
25,287
25,249
25,083
24,668
24,613
24,570
24,236
23,658
23,498
23,402
23,280
23,279
23,052
22,670
22,638
22,491
22,393
22,161
21,894
21,894
21,712
21,707
21,574
21,541
21,526
21,502
21,387
21,105
21,080
20,901
20,890
20,808
20,801
20,586
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
^
^
^
NTT Data Corp.
Nitori Holdings Co. Ltd.
Shimizu Corp.
Minebea Co. Ltd.
Nikon Corp.
Bandai Namco Holdings Inc.
Santen Pharmaceutical Co. Ltd.
Obayashi Corp.
Kobe Steel Ltd.
Yahoo Japan Corp.
Keio Corp.
Brother Industries Ltd.
Suntory Beverage & Food Ltd.
NH Foods Ltd.
Lawson Inc.
Fukuoka Financial Group Inc.
Kikkoman Corp.
Taiheiyo Cement Corp.
Asics Corp.
Nippon Yusen KK
Nissin Foods Holdings Co. Ltd.
Toppan Printing Co. Ltd.
Aozora Bank Ltd.
Keikyu Corp.
Chugoku Electric Power Co. Inc.
Kuraray Co. Ltd.
Sharp Corp.
Suruga Bank Ltd.
Shinsei Bank Ltd.
Nippon Express Co. Ltd.
Mitsubishi Materials Corp.
Kansai Paint Co. Ltd.
Hino Motors Ltd.
Kajima Corp.
Hirose Electric Co. Ltd.
Koito Manufacturing Co. Ltd.
Nagoya Railroad Co. Ltd.
Daicel Corp.
Casio Computer Co. Ltd.
Joyo Bank Ltd.
JSR Corp.
JTEKT Corp.
Tokyo Tatemono Co. Ltd.
TOTO Ltd.
Mitsui OSK Lines Ltd.
Yokogawa Electric Corp.
Trend Micro Inc.
Rinnai Corp.
Mitsubishi Tanabe Pharma Corp.
USS Co. Ltd.
Don Quijote Holdings Co. Ltd.
Oji Holdings Corp.
Toyo Suisan Kaisha Ltd.
Keisei Electric Railway Co. Ltd.
J Front Retailing Co. Ltd.
Credit Saison Co. Ltd.
Iyo Bank Ltd.
Taisho Pharmaceutical Holdings Co. Ltd.
Tokyu Fudosan Holdings Corp.
Hulic Co. Ltd.
Yaskawa Electric Corp.
Nomura Research Institute Ltd.
Hitachi Metals Ltd.
Ryohin Keikaku Co. Ltd.
40
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
2,304,492
442,410
766,508
3,589,460
1,265,341
2,310,925
1,721,736
974,737
761,258
1,100,600
1,122,800
723,130
754,556
2,963,289
3,689,166
2,975,425
1,325,097
3,600,000
3,258,573
1,108,532
556,800
5,536,930
7,410,946
938,000
1,098,553
755,297
5,897,556
516,504
4,131,719
907,309
1,145,109
8,589,000
3,821,279
3,164,070
3,786,774
467,100
1,860,882
1,667,690
1,865,080
1,770,000
2,865,000
1,178,718
2,663,271
738,106
1,581,980
1,797,795
373,449
394,793
497,163
1,214,532
1,130,530
426,900
313,600
3,203,000
1,337,910
1,109,956
172,416
170,999
371,100
1,558,340
700,065
6,132,422
1,122,000
1,770,922
20,543
20,466
20,424
20,280
20,243
20,222
20,162
20,046
19,415
19,057
18,924
18,921
18,898
18,765
18,719
18,498
18,494
18,244
17,935
17,892
17,804
17,790
17,751
17,703
17,667
17,499
17,472
17,461
17,282
17,245
17,239
17,048
16,878
16,849
16,830
16,732
16,667
16,647
16,549
16,110
16,065
16,058
16,047
15,922
15,910
15,848
15,834
15,828
15,767
15,677
15,615
15,588
15,587
15,543
15,535
15,396
15,289
15,105
15,077
15,003
14,991
14,961
14,901
14,796
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
*
^
^
^
Amada Co. Ltd.
Hamamatsu Photonics KK
Japan Airlines Co. Ltd.
Sumitomo Heavy Industries Ltd.
Sega Sammy Holdings Inc.
Bank of Kyoto Ltd.
Kyowa Hakko Kirin Co. Ltd.
Stanley Electric Co. Ltd.
THK Co. Ltd.
Alps Electric Co. Ltd.
M3 Inc.
NOK Corp.
Nabtesco Corp.
Gunma Bank Ltd.
Hiroshima Bank Ltd.
Hachijuni Bank Ltd.
Daihatsu Motor Co. Ltd.
Keihan Electric Railway Co. Ltd.
Toho Gas Co. Ltd.
Sony Financial Holdings Inc.
MISUMI Group Inc.
Yamada Denki Co. Ltd.
ANA Holdings Inc.
Nissan Chemical Industries Ltd.
Air Water Inc.
Toho Co. Ltd.
Mitsui Chemicals Inc.
Hisamitsu Pharmaceutical Co. Inc.
Seven Bank Ltd.
Seibu Holdings Inc.
Chugoku Bank Ltd.
Hokuhoku Financial Group Inc.
Tosoh Corp.
Mitsubishi UFJ Lease & Finance Co. Ltd.
Fuji Electric Co. Ltd.
Calbee Inc.
Taiyo Nippon Sanso Corp.
Nisshin Seifun Group Inc.
Shimadzu Corp.
Yokohama Rubber Co. Ltd.
Ebara Corp.
Hokuriku Electric Power Co.
Mitsubishi Gas Chemical Co. Inc.
Kurita Water Industries Ltd.
Hakuhodo DY Holdings Inc.
TonenGeneral Sekiyu KK
Miraca Holdings Inc.
FamilyMart Co. Ltd.
Benesse Holdings Inc.
Alfresa Holdings Corp.
Sumitomo Rubber Industries Ltd.
Obic Co. Ltd.
Hoshizaki Electric Co. Ltd.
Nankai Electric Railway Co. Ltd.
SBI Holdings Inc.
Yamaha Corp.
Mabuchi Motor Co. Ltd.
Shimamura Co. Ltd.
Japan Airport Terminal Co. Ltd.
Yamaguchi Financial Group Inc.
AEON Financial Service Co. Ltd.
Teijin Ltd.
Nippon Kayaku Co. Ltd.
Takashimaya Co. Ltd.
41
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
3,300,324
1,470,414
798,900
229,700
930,435
1,671,675
669,340
229,600
985,794
423,800
759,047
2,053,291
1,091,832
223,600
5,780,710
2,345,000
208,700
1,760,400
478,792
1,519,000
254,200
4,566,372
9,547,762
286,000
724,300
1,034,000
640,340
407,063
1,076,315
2,482,526
2,620,931
336,151
612,593
1,081,734
323,231
1,282,000
1,015,492
2,156,429
7,915,787
654,615
396,000
1,015,863
460,000
847,200
621,979
1,098,963
924,640
391,840
458,700
476,900
732,852
1,169,789
746,000
5,225,000
1,544,800
216,100
326,500
2,784,000
632,700
4,776,000
1,219,459
152,700
4,425,000
2,383,000
14,779
14,552
14,495
14,430
14,333
14,264
13,800
13,748
13,630
13,613
13,538
13,472
13,410
13,389
13,350
13,297
13,206
13,143
13,073
12,994
12,920
12,812
12,726
12,688
12,687
12,686
12,676
12,628
12,563
12,493
12,383
12,352
12,292
12,193
12,111
12,043
11,973
11,957
11,885
11,826
11,824
11,760
11,725
11,603
11,600
11,424
11,324
11,248
11,248
11,242
11,056
10,908
10,899
10,825
10,673
10,629
10,624
10,593
10,573
10,507
10,502
10,479
10,441
10,399
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*
^
^
^
^
NTN Corp.
Kamigumi Co. Ltd.
COMSYS Holdings Corp.
Pigeon Corp.
Mitsubishi Logistics Corp.
Marui Group Co. Ltd.
Hitachi Construction Machinery Co. Ltd.
Sawai Pharmaceutical Co. Ltd.
Shikoku Electric Power Co. Inc.
Zenkoku Hosho Co. Ltd.
Nomura Real Estate Holdings Inc.
Citizen Holdings Co. Ltd.
Toyo Seikan Group Holdings Ltd.
Tsuruha Holdings Inc.
Kawasaki Kisen Kaisha Ltd.
77 Bank Ltd.
Kobayashi Pharmaceutical Co. Ltd.
Haseko Corp.
Suzuken Co. Ltd.
Dowa Holdings Co. Ltd.
Nihon Kohden Corp.
Nishi-Nippon City Bank Ltd.
Showa Denko KK
Sugi Holdings Co. Ltd.
Kewpie Corp.
Nippon Shokubai Co. Ltd.
Idemitsu Kosan Co. Ltd.
Hitachi High-Technologies Corp.
Advantest Corp.
GS Yuasa Corp.
Nippon Electric Glass Co. Ltd.
Sankyo Co. Ltd.
Konami Corp.
MediPal Holdings Corp.
Otsuka Corp.
Zeon Corp.
Sumitomo Dainippon Pharma Co. Ltd.
Kaneka Corp.
Sojitz Corp.
Hitachi Chemical Co. Ltd.
Nippon Shinyaku Co. Ltd.
Iida Group Holdings Co. Ltd.
Kaken Pharmaceutical Co. Ltd.
Kakaku.com Inc.
Aeon Mall Co. Ltd.
Chiyoda Corp.
Yamazaki Baking Co. Ltd.
Sanrio Co. Ltd.
Azbil Corp.
Topcon Corp.
Ibiden Co. Ltd.
NHK Spring Co. Ltd.
Tadano Ltd.
DIC Corp.
Tokai Tokyo Financial Holdings Inc.
Sundrug Co. Ltd.
Ezaki Glico Co. Ltd.
Sotetsu Holdings Inc.
Toyo Tire & Rubber Co. Ltd.
Mitsui Engineering & Shipbuilding Co. Ltd.
Showa Shell Sekiyu KK
Disco Corp.
Oki Electric Industry Co. Ltd.
Sapporo Holdings Ltd.
42
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,432,500
6,715,333
428,600
420,612
676,556
765,500
375,400
408,100
1,561,300
1,171,078
430,013
1,223,500
2,418,000
632,300
469,307
2,920,447
285,300
1,645,000
1,239,484
639,300
1,643,000
550,315
275,955
703,451
2,282,000
1,309,000
281,900
657,878
845,900
3,468,000
469,063
2,070,000
2,260,463
821,143
244,500
1,643,000
433,000
263,200
1,413,000
1,072,000
701,400
797,000
523,900
143,089
632,700
344,300
2,537,800
211,738
499,000
321,500
1,699,000
2,301,494
198,000
335,300
5,647,000
56,000
1,295,900
969,000
326,700
1,619,000
761,006
2,235,000
995,000
466,000
10,260
10,175
10,169
10,125
10,051
9,995
9,965
9,904
9,904
9,844
9,787
9,782
9,764
9,612
9,576
9,575
9,463
9,375
9,371
9,345
9,304
9,303
9,267
9,117
9,098
9,078
9,047
9,026
9,016
8,939
8,872
8,832
8,775
8,754
8,744
8,736
8,644
8,600
8,572
8,519
8,464
8,412
8,409
8,297
8,292
8,286
8,240
8,225
8,222
8,185
8,177
8,166
8,156
8,152
8,148
8,100
8,061
8,020
8,019
8,009
8,007
7,971
7,969
7,941
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
*
*
^
^
^
^
^
^
^
*,^
^
^
^
*
^
Sanwa Holdings Corp.
Ube Industries Ltd.
Sohgo Security Services Co. Ltd.
Maruichi Steel Tube Ltd.
Nippon Paper Industries Co. Ltd.
Nagase & Co. Ltd.
Glory Ltd.
Resorttrust Inc.
Leopalace21 Corp.
Hokkaido Electric Power Co. Inc.
Tsumura & Co.
Takara Holdings Inc.
Nishi-Nippon Railroad Co. Ltd.
Park24 Co. Ltd.
Square Enix Holdings Co. Ltd.
Denki Kagaku Kogyo KK
Temp Holdings Co. Ltd.
Lion Corp.
Okasan Securities Group Inc.
Rohto Pharmaceutical Co. Ltd.
Shiga Bank Ltd.
H2O Retailing Corp.
Yamato Kogyo Co. Ltd.
Dena Co. Ltd.
Juroku Bank Ltd.
Iwatani Corp.
Nifco Inc.
Sumco Corp.
Sumitomo Forestry Co. Ltd.
Mitsui Mining & Smelting Co. Ltd.
Toyoda Gosei Co. Ltd.
Fujikura Ltd.
Daido Steel Co. Ltd.
Ushio Inc.
Horiba Ltd.
Keiyo Bank Ltd.
Japan Aviation Electronics Industry Ltd.
Izumi Co. Ltd.
Awa Bank Ltd.
Tsubakimoto Chain Co.
DMG Mori Seiki Co. Ltd.
Wacoal Holdings Corp.
IT Holdings Corp.
ABC-Mart Inc.
ADEKA Corp.
Aoyama Trading Co. Ltd.
Acom Co. Ltd.
Oracle Corp. Japan
OSG Corp.
Shimachu Co. Ltd.
Sankyu Inc.
Japan Steel Works Ltd.
Kose Corp.
Nihon Parkerizing Co. Ltd.
Toyobo Co. Ltd.
Cosmos Pharmaceutical Corp.
SKY Perfect JSAT Holdings Inc.
Nisshinbo Holdings Inc.
TS Tech Co. Ltd.
Nishimatsu Construction Co. Ltd.
Kinden Corp.
Kumagai Gumi Co. Ltd.
Seino Holdings Co. Ltd.
House Foods Group Inc.
43
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
301,100
2,510,000
1,662,000
657,900
1,860,000
678,300
477,500
999,000
365,600
2,169,000
4,344,000
1,135,600
1,820,400
282,136
1,435,160
718,400
261,800
1,368,000
1,292,000
248,500
595,600
1,171,000
156,800
1,393,400
408,893
185,300
832,046
294,100
212,000
361,500
1,753,800
1,000,000
820,000
338,800
104,600
259,400
1,597,000
418,500
314,376
1,054,000
325,900
731,000
904,932
330,700
471,700
180,600
1,551,000
1,655,000
482,500
2,232,000
1,907,000
1,156,000
1,575,000
691,000
247,800
113,300
2,181,000
433,000
194,853
174,500
157,749
4,116,850
300,000
281,000
7,928
7,919
7,881
7,820
7,784
7,778
7,768
7,765
7,760
7,752
7,718
7,699
7,679
7,626
7,621
7,542
7,517
7,485
7,456
7,453
7,431
7,390
7,390
7,377
7,374
7,360
7,345
7,329
7,303
7,290
7,281
7,270
7,191
7,182
7,101
7,085
7,077
6,984
6,937
6,928
6,902
6,902
6,896
6,879
6,875
6,845
6,777
6,765
6,760
6,725
6,687
6,673
6,673
6,640
6,573
6,537
6,459
6,437
6,429
6,426
6,401
6,324
6,311
6,293
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
^
^
*,^
^
^
^
^
^
^
*,^
^
^
^
Century Tokyo Leasing Corp.
Sumitomo Osaka Cement Co. Ltd.
Kenedix Inc.
Daifuku Co. Ltd.
Nichirei Corp.
NTT Urban Development Corp.
Kagome Co. Ltd.
San-In Godo Bank Ltd.
KYORIN Holdings Inc.
Daishi Bank Ltd.
Furukawa Electric Co. Ltd.
Hazama Ando Corp.
Aiful Corp.
SCSK Corp.
Senshu Ikeda Holdings Inc.
Taiyo Yuden Co. Ltd.
Tokyo Ohka Kogyo Co. Ltd.
SCREEN Holdings Co. Ltd.
Higo Bank Ltd.
Matsumotokiyoshi Holdings Co. Ltd.
Kyowa Exeo Corp.
Nachi-Fujikoshi Corp.
Asahi Intecc Co. Ltd.
UNY Group Holdings Co. Ltd.
Coca-Cola East Japan Co. Ltd.
Jafco Co. Ltd.
Nexon Co. Ltd.
Hitachi Capital Corp.
Musashino Bank Ltd.
Ito En Ltd.
North Pacific Bank Ltd.
OKUMA Corp.
Maeda Corp.
Lintec Corp.
Hikari Tsushin Inc.
K's Holdings Corp.
Toagosei Co. Ltd.
Nippon Konpo Unyu Soko Co. Ltd.
Start Today Co. Ltd.
Kagoshima Bank Ltd.
Aica Kogyo Co. Ltd.
Shochiku Co. Ltd.
Anritsu Corp.
Canon Marketing Japan Inc.
Autobacs Seven Co. Ltd.
United Arrows Ltd.
Toda Corp.
Nanto Bank Ltd.
Nissan Shatai Co. Ltd.
Japan Display Inc.
Hokkoku Bank Ltd.
Okumura Corp.
Hyakugo Bank Ltd.
Matsui Securities Co. Ltd.
Kissei Pharmaceutical Co. Ltd.
Pilot Corp.
Tokuyama Corp.
Kiyo Bank Ltd.
Japan Petroleum Exploration Co.
Kanamoto Co. Ltd.
Itochu Techno-Solutions Corp.
Cosmo Oil Co. Ltd.
Nippon Seiki Co. Ltd.
Arcs Co. Ltd.
44
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
318,800
1,422,000
236,100
766,000
700,100
935,000
401,000
158,700
327,000
510,700
414,726
2,119,000
1,776,700
818,000
1,145,000
145,500
696,600
1,237,000
349,600
176,900
1,733,000
89,700
308,418
426,400
561,800
593,792
158,800
270,600
972,000
1,474,006
5,651,413
524,900
224,000
1,223,000
1,447,000
182,100
582,600
539,700
976,100
856,000
123,716
203,000
1,042,000
117,100
459,800
160,024
248,600
208,900
4,179,400
610,000
110,200
1,179,000
184,700
492,600
195,000
97,000
871,000
323,900
375,500
322,400
325,000
1,081,000
1,197,000
67,500
6,274
6,257
6,256
6,255
6,230
6,225
6,213
6,163
6,078
6,053
5,958
5,955
5,932
5,930
5,829
5,828
5,807
5,776
5,774
5,685
5,677
5,663
5,656
5,640
5,622
5,613
5,597
5,573
5,506
5,499
5,498
5,478
5,391
5,352
5,352
5,341
5,309
5,279
5,228
5,189
5,188
5,178
5,177
5,177
5,142
5,122
5,122
5,100
5,085
5,067
5,063
5,060
5,005
4,999
4,992
4,989
4,960
4,958
4,955
4,936
4,916
4,913
4,906
4,883
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
^
^
*,^
^
*,^
^
^
^
^
^
*
*,^
^
^
^
Tokai Rika Co. Ltd.
Rengo Co. Ltd.
HIS Co. Ltd.
Sanken Electric Co. Ltd.
Bic Camera Inc.
NOF Corp.
Maeda Road Construction Co. Ltd.
SHO-BOND Holdings Co. Ltd.
Nippo Corp.
Miura Co. Ltd.
Coca-Cola West Co. Ltd.
Ogaki Kyoritsu Bank Ltd.
Penta-Ocean Construction Co. Ltd.
Toshiba TEC Corp.
Fukuyama Transporting Co. Ltd.
Fuyo General Lease Co. Ltd.
Nipro Corp.
Toyo Ink SC Holdings Co. Ltd.
Duskin Co. Ltd.
Meitec Corp.
Hyakujushi Bank Ltd.
Mochida Pharmaceutical Co. Ltd.
Kadokawa Dwango Corp.
Takasago Thermal Engineering Co. Ltd.
J Trust Co. Ltd.
Nisshin Steel Co. Ltd.
Inaba Denki Sangyo Co. Ltd.
ZERIA Pharmaceutical Co. Ltd.
Calsonic Kansei Corp.
UACJ Corp.
Nippon Sheet Glass Co. Ltd.
Accordia Golf Co. Ltd.
IBJ Leasing Co. Ltd.
KYB Co. Ltd.
Toho Bank Ltd.
Nihon M&A Center Inc.
Zensho Holdings Co. Ltd.
Fuji Machine Manufacturing Co. Ltd.
Hitachi Zosen Corp.
Onward Holdings Co. Ltd.
Pola Orbis Holdings Inc.
Asatsu-DK Inc.
Kureha Corp.
Bank of Okinawa Ltd.
Amano Corp.
Tokyo TY Financial Group Inc.
Heiwa Corp.
Nippon Gas Co. Ltd.
Sumitomo Mitsui Construction Co. Ltd.
Takara Standard Co. Ltd.
Bank of Iwate Ltd.
Tokyo Dome Corp.
MonotaRO Co. Ltd.
Fujitec Co. Ltd.
Sangetsu Co. Ltd.
Hogy Medical Co. Ltd.
Nippon Soda Co. Ltd.
Capcom Co. Ltd.
Toho Holdings Co. Ltd.
Nippon Television Holdings Inc.
Hitachi Kokusai Electric Inc.
Yamanashi Chuo Bank Ltd.
Bank of Nagoya Ltd.
Relo Holdings Inc.
45
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
191,300
536,000
146,300
808,000
288,800
1,032,000
1,953,000
3,295,100
201,500
451,000
233,400
292,300
1,298,000
348,900
369,000
159,800
917,000
1,592,500
1,236,000
572,500
255,100
227,900
395,700
1,139,000
1,351,000
1,699,200
432,300
259,700
263,300
1,320,000
805,000
642,000
385,478
160,600
752,000
391,000
883,000
195,400
231,500
177,000
189,100
171,500
346,200
810,000
494,000
353,800
141,400
198,200
2,113,000
182,100
582,500
601,255
613,600
67,500
369,800
253,600
642,500
2,546,000
123,000
671,000
245,100
184,200
163,900
114,400
4,865
4,859
4,835
4,832
4,830
4,828
4,810
4,790
4,787
4,752
4,745
4,743
4,731
4,725
4,711
4,671
4,669
4,643
4,619
4,613
4,579
4,573
4,567
4,559
4,546
4,537
4,519
4,511
4,497
4,494
4,484
4,474
4,455
4,449
4,430
4,422
4,409
4,378
4,346
4,330
4,318
4,285
4,246
4,244
4,243
4,226
4,222
4,217
4,216
4,215
4,213
4,192
4,191
4,185
4,182
4,177
4,114
4,088
4,083
4,061
4,059
4,055
4,003
4,002
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
*
^
^
*
^
^
^
^
^
^
^
^
^
^
^
^
Exedy Corp.
Shinmaywa Industries Ltd.
Mitsubishi Pencil Co. Ltd.
Jaccs Co. Ltd.
Nichi-iko Pharmaceutical Co. Ltd.
Yamagata Bank Ltd.
Saibu Gas Co. Ltd.
Nippon Light Metal Holdings Co. Ltd.
Ship Healthcare Holdings Inc.
Fuji Kyuko Co. Ltd.
Ai Holdings Corp.
Fuji Oil Co. Ltd.
Hanwa Co. Ltd.
Megmilk Snow Brand Co. Ltd.
Fujitsu General Ltd.
FP Corp.
Toyo Engineering Corp.
Nippon Suisan Kaisha Ltd.
Meidensha Corp.
Kokuyo Co. Ltd.
Daiseki Co. Ltd.
Unipres Corp.
Yoshinoya Holdings Co. Ltd.
Sumitomo Bakelite Co. Ltd.
Central Glass Co. Ltd.
Pioneer Corp.
Nikkiso Co. Ltd.
Alpine Electronics Inc.
Koei Tecmo Holdings Co. Ltd.
Morinaga Milk Industry Co. Ltd.
Sumitomo Warehouse Co. Ltd.
Makino Milling Machine Co. Ltd.
Toyota Boshoku Corp.
Ain Pharmaciez Inc.
Sanden Corp.
Mirait Holdings Corp.
Seiko Holdings Corp.
Taikisha Ltd.
Noritz Corp.
TPR Co. Ltd.
Komeri Co. Ltd.
Fuji Soft Inc.
Asahi Diamond Industrial Co. Ltd.
Itoham Foods Inc.
Daio Paper Corp.
Colowide Co. Ltd.
Fuji Seal International Inc.
Ryosan Co. Ltd.
Furukawa Co. Ltd.
Totetsu Kogyo Co. Ltd.
EDION Corp.
Gree Inc.
DCM Holdings Co. Ltd.
Yaoko Co. Ltd.
Daibiru Corp.
Seikagaku Corp.
TSI Holdings Co. Ltd.
Kanematsu Corp.
Mandom Corp.
Nichias Corp.
Valor Co. Ltd.
NEC Networks & System Integration Corp.
Modec Inc.
San-A Co. Ltd.
46
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
152,200
212,500
531,800
292,000
869,000
232,500
112,300
276,500
233,900
236,900
1,075,000
390,200
192,080
193,300
305,000
229,200
244,500
131,300
253,200
1,831,400
387,100
141,300
121,900
1,223,000
974,000
224,232
502,400
223,400
107,960
235,500
110,300
246,800
429,200
1,917,000
216,400
211,900
951,100
1,463,000
269,000
615,400
844,500
278,000
641,900
882,000
98,000
620,200
174,900
386,100
810,000
127,000
1,327,400
343,300
238,600
140,700
1,306,000
134,700
341,708
233,100
651,000
306,800
184,100
171,000
653,000
500,000
4,000
3,995
3,988
3,983
3,979
3,961
3,942
3,941
3,940
3,906
3,888
3,859
3,847
3,829
3,827
3,815
3,808
3,803
3,791
3,784
3,768
3,763
3,717
3,711
3,687
3,676
3,663
3,663
3,652
3,647
3,633
3,632
3,630
3,630
3,614
3,597
3,596
3,589
3,572
3,551
3,545
3,541
3,529
3,507
3,501
3,481
3,478
3,463
3,453
3,449
3,447
3,445
3,441
3,439
3,423
3,420
3,404
3,393
3,377
3,353
3,347
3,338
3,332
3,319
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
*
^
*,^
^
^
^
^
^
^
^
^
^
*,^
^
^
^
^
HI-LEX Corp.
Heiwado Co. Ltd.
Okamura Corp.
Fuji Media Holdings Inc.
TOMONY Holdings Inc.
Toshiba Plant Systems & Services Corp.
Kintetsu World Express Inc.
Topre Corp.
FCC Co. Ltd.
Tokyo Seimitsu Co. Ltd.
Nitto Boseki Co. Ltd.
Nippon Signal Co. Ltd.
Oiles Corp.
MOS Food Services Inc.
Ulvac Inc.
Heiwa Real Estate Co. Ltd.
Nissin Kogyo Co. Ltd.
Paramount Bed Holdings Co. Ltd.
NSD Co. Ltd.
Orient Corp.
Aida Engineering Ltd.
Sato Holdings Corp.
Chofu Seisakusho Co. Ltd.
Aomori Bank Ltd.
Oita Bank Ltd.
Nissha Printing Co. Ltd.
TOC Co. Ltd.
Mitsuba Corp.
Welcia Holdings Co. Ltd.
Star Micronics Co. Ltd.
Taiyo Holdings Co. Ltd.
Matsuya Co. Ltd.
GMO internet Inc.
Daikyo Inc.
Bank of the Ryukyus Ltd.
Asahi Holdings Inc.
Wacom Co. Ltd.
Fukui Bank Ltd.
Hitachi Transport System Ltd.
Japan Securities Finance Co. Ltd.
Hokuetsu Kishu Paper Co. Ltd.
Keihin Corp.
Tokyo Steel Manufacturing Co. Ltd.
Yodogawa Steel Works Ltd.
Nishio Rent All Co. Ltd.
Iino Kaiun Kaisha Ltd.
Fuji Co. Ltd.
Nihon Unisys Ltd.
Tekken Corp.
Trusco Nakayama Corp.
Monex Group Inc.
Komori Corp.
Futaba Corp.
Teikoku Sen-I Co. Ltd.
Tokai Carbon Co. Ltd.
Shibuya Kogyo Co. Ltd.
Namura Shipbuilding Co. Ltd.
Nippon Densetsu Kogyo Co. Ltd.
Kandenko Co. Ltd.
Showa Corp.
Nitto Kogyo Corp.
Chiyoda Co. Ltd.
Nippon Flour Mills Co. Ltd.
Shindengen Electric Manufacturing Co. Ltd.
47
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
920,200
319,400
216,300
889,480
130,200
524,000
504,000
1,388,000
167,600
195,800
103,700
398,900
567,000
472,000
281,000
231,700
218,700
541,800
362,800
801,000
207,100
162,500
176,400
349,000
1,117,000
210,700
324,000
625,000
62,200
97,800
213,600
956,000
82,300
366,000
46,900
167,400
1,098,000
185,500
158,600
262,400
593,000
123,600
932,000
137,800
331,900
841,000
140,200
320,700
428,000
76,400
954,000
997,000
124,500
579,390
137,200
177,600
1,294,000
75,100
186,800
273,800
588,000
249,000
287,700
213,500
3,313
3,310
3,304
3,292
3,289
3,281
3,260
3,249
3,241
3,234
3,224
3,220
3,210
3,201
3,198
3,194
3,185
3,168
3,137
3,132
3,129
3,128
3,121
3,119
3,118
3,107
3,100
3,077
3,074
3,073
3,069
3,065
3,057
3,052
3,028
3,025
3,024
3,010
2,993
2,993
2,981
2,974
2,964
2,964
2,962
2,939
2,937
2,933
2,905
2,902
2,902
2,901
2,881
2,864
2,859
2,857
2,844
2,837
2,830
2,827
2,822
2,814
2,802
2,793
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
^
^
^
^
*,^
^
^
*,^
*
^
^
^
^
Ashikaga Holdings Co. Ltd.
Nihon Nohyaku Co. Ltd.
Avex Group Holdings Inc.
Nippon Steel & Sumikin Bussan Corp.
Aeon Delight Co. Ltd.
Mitsumi Electric Co. Ltd.
Takuma Co. Ltd.
Iseki & Co. Ltd.
Eagle Industry Co. Ltd.
Shima Seiki Manufacturing Ltd.
Riso Kagaku Corp.
Yamazen Corp.
Dainichiseika Color & Chemicals Manufacturing Co. Ltd.
PanaHome Corp.
Kyudenko Corp.
Fancl Corp.
Maruha Nichiro Corp.
NET One Systems Co. Ltd.
Gulliver International Co. Ltd.
Showa Sangyo Co. Ltd.
Hitachi Maxell Ltd.
Nagaileben Co. Ltd.
Internet Initiative Japan Inc.
Bunka Shutter Co. Ltd.
Akita Bank Ltd.
Sakata Seed Corp.
Raito Kogyo Co. Ltd.
TOKAI Holdings Corp.
Aichi Bank Ltd.
NS Solutions Corp.
Kuroda Electric Co. Ltd.
Juki Corp.
Earth Chemical Co. Ltd.
Chugoku Marine Paints Ltd.
Mani Inc.
Sankyo Tateyama Inc.
Gunze Ltd.
Chudenko Corp.
Transcosmos Inc.
AOKI Holdings Inc.
Mizuno Corp.
Cocokara fine Inc.
Pacific Metals Co. Ltd.
Kato Sangyo Co. Ltd.
CKD Corp.
Toho Zinc Co. Ltd.
DTS Corp.
Nishimatsuya Chain Co. Ltd.
Japan Wool Textile Co. Ltd.
Enplas Corp.
Miyazaki Bank Ltd.
Nippon Chemi-Con Corp.
Nitta Corp.
Tokyu Construction Co. Ltd.
ASKUL Corp.
Royal Holdings Co. Ltd.
Morinaga & Co. Ltd.
Obara Group Inc.
Doutor Nichires Holdings Co. Ltd.
Sakata INX Corp.
Takasago International Corp.
Max Co. Ltd.
Inabata & Co. Ltd.
Takata Corp.
48
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
86,792
679,000
290,300
957,000
247,100
189,800
193,400
1,287,000
65,400
307,100
292,000
117,900
1,408,000
395,500
739,000
376,000
149,400
664,000
87,900
301,600
272,000
225,800
565,000
732,000
377,000
941,000
203,700
254,200
87,351
92,300
1,305,000
214,000
350,800
175,200
131,600
507,900
215,100
255,000
68,700
260,400
681,000
180,700
652,000
87,700
966,000
714,000
235,800
80,700
572,300
222,500
57,400
106,500
131,600
204,100
54,200
252,300
155,500
366,100
324,000
419,000
96,469
53,900
1,316,000
130,600
2,787
2,781
2,779
2,774
2,768
2,757
2,757
2,754
2,733
2,714
2,707
2,704
2,704
2,700
2,699
2,697
2,690
2,689
2,675
2,674
2,673
2,668
2,662
2,661
2,652
2,647
2,631
2,622
2,622
2,600
2,597
2,594
2,576
2,573
2,548
2,545
2,534
2,531
2,522
2,520
2,518
2,514
2,508
2,501
2,493
2,490
2,485
2,482
2,478
2,469
2,465
2,464
2,458
2,458
2,456
2,447
2,439
2,434
2,433
2,428
2,426
2,416
2,402
2,398
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*,^
^
^
^
^
^
^
^
^
^
^
Milbon Co. Ltd.
Tochigi Bank Ltd.
Okabe Co. Ltd.
Eighteenth Bank Ltd.
Tokyo Broadcasting System Holdings Inc.
KLab Inc.
Kyokuto Kaihatsu Kogyo Co. Ltd.
Shikoku Bank Ltd.
Roland DG Corp.
Seiren Co. Ltd.
Descente Ltd.
Ariake Japan Co. Ltd.
Hokuetsu Bank Ltd.
Nichicon Corp.
Aichi Steel Corp.
San-Ai Oil Co. Ltd.
Plenus Co. Ltd.
Toshiba Machine Co. Ltd.
Okinawa Electric Power Co. Inc.
Hitachi Koki Co. Ltd.
Wakita & Co. Ltd.
Ichiyoshi Securities Co. Ltd.
Kitz Corp.
Nisshin Oillio Group Ltd.
Sanki Engineering Co. Ltd.
Tokyotokeiba Co. Ltd.
Yokogawa Bridge Holdings Corp.
Moshi Moshi Hotline Inc.
Kameda Seika Co. Ltd.
Fujimori Kogyo Co. Ltd.
Minato Bank Ltd.
Daido Metal Co. Ltd.
Marusan Securities Co. Ltd.
Saizeriya Co. Ltd.
Musashi Seimitsu Industry Co. Ltd.
kabu.com Securities Co. Ltd.
Aderans Co. Ltd.
Morita Holdings Corp.
Ohsho Food Service Corp.
Nomura Co. Ltd.
Marudai Food Co. Ltd.
Sekisui Jushi Corp.
Mitsui-Soko Holdings Co. Ltd.
As One Corp.
Higashi-Nippon Bank Ltd.
Sanyo Special Steel Co. Ltd.
Ihara Chemical Industry Co. Ltd.
Tokai Corp.
Takara Leben Co. Ltd.
Tsukishima Kikai Co. Ltd.
Dydo Drinco Inc.
JCR Pharmaceuticals Co. Ltd.
Eizo Corp.
Paltac Corp.
Towa Pharmaceutical Co. Ltd.
Toppan Forms Co. Ltd.
Xebio Co. Ltd.
Shizuoka Gas Co. Ltd.
Kato Works Co. Ltd.
Shinko Electric Industries Co. Ltd.
Mitani Corp.
Piolax Inc.
Daiwabo Holdings Co. Ltd.
Yondoshi Holdings Inc.
49
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
71,900
150,700
143,000
85,100
119,000
49,800
148,500
389,800
141,200
129,600
43,900
384,000
442,200
47,600
443,000
56,900
167,300
849,000
125,200
652,000
134,800
542,000
1,100,500
131,700
1,355,000
556,000
867,400
113,600
149,300
244,000
277,400
78,300
55,600
562,000
219,400
158,500
139,500
397,900
466,000
117,500
61,100
538,000
68,900
308,200
93,000
1,086,000
167,300
73,900
1,145,000
138,000
952,000
375,000
108,700
267,000
920,000
296,000
504,093
103,000
863,700
91,660
276,900
45,150
620,000
96,000
2,396
2,395
2,389
2,386
2,383
2,381
2,372
2,370
2,370
2,368
2,357
2,355
2,353
2,349
2,349
2,347
2,346
2,335
2,328
2,326
2,308
2,285
2,285
2,285
2,272
2,269
2,265
2,260
2,252
2,247
2,247
2,245
2,224
2,224
2,224
2,222
2,220
2,202
2,191
2,188
2,176
2,171
2,166
2,157
2,155
2,153
2,150
2,150
2,147
2,139
2,123
2,122
2,116
2,115
2,115
2,110
2,103
2,103
2,088
2,085
2,085
2,078
2,072
2,070
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
^
^
^
^
^
^
^
*,^
^
^
^
^
^
^
^
^
^
^
^
^
^
^
*,^
^
COOKPAD Inc.
Foster Electric Co. Ltd.
Kyoei Steel Ltd.
Ricoh Leasing Co. Ltd.
OSAKA Titanium Technologies Co. Ltd.
Ichibanya Co. Ltd.
Broadleaf Co. Ltd.
Round One Corp.
Doshisha Co. Ltd.
Hokuto Corp.
St. Marc Holdings Co. Ltd.
Sanyo Chemical Industries Ltd.
Tomy Co. Ltd.
Kusuri No Aoki Co. Ltd.
Toei Co. Ltd.
Kyoritsu Maintenance Co. Ltd.
Gurunavi Inc.
Ryobi Ltd.
Oyo Corp.
Daihen Corp.
Kyokuto Securities Co. Ltd.
Senko Co. Ltd.
Jimoto Holdings Inc.
Kisoji Co. Ltd.
Kurabo Industries Ltd.
Press Kogyo Co. Ltd.
Nippon Yakin Kogyo Co. Ltd.
TKC Corp.
Hibiya Engineering Ltd.
Joshin Denki Co. Ltd.
Sodick Co. Ltd.
Torii Pharmaceutical Co. Ltd.
YAMABIKO Corp.
Riken Corp.
PGM Holdings K K
Fujimi Inc.
TV Asahi Holdings Corp.
Hosiden Corp.
Jeol Ltd.
Canon Electronics Inc.
Jowa Holdings Co. Ltd.
Bando Chemical Industries Ltd.
Dr Ci:Labo Co. Ltd.
Sintokogio Ltd.
Mitsubishi Shokuhin Co. Ltd.
Topy Industries Ltd.
Tachi-S Co. Ltd.
SMS Co. Ltd.
Toa Corp.
T Hasegawa Co. Ltd.
Ehime Bank Ltd.
Nippon Road Co. Ltd.
Tamron Co. Ltd.
Nichii Gakkan Co.
Bank of Saga Ltd.
Mitsuboshi Belting Co. Ltd.
Sanyo Electric Railway Co. Ltd.
Tv Tokyo Holdings Corp.
Fudo Tetra Corp.
Sumitomo Real Estate Sales Co. Ltd.
Yokohama Reito Co. Ltd.
Token Corp.
Clarion Co. Ltd.
Jin Co. Ltd.
50
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
71,000
137,000
67,700
94,800
107,800
168,600
688,000
397,000
175,000
137,300
282,000
65,700
862,000
508,700
102,600
379,000
207,100
88,400
114,900
268,300
299,000
107,700
227,400
594,000
93,600
86,880
115,600
587,000
753,400
95,500
39,000
332,200
690,000
166,200
802,000
295,800
160,400
147,300
465,000
395,700
295,000
152,800
232,000
522,000
102,100
331,000
291,000
65,300
500,000
212,000
722,000
459,000
257,000
199,300
49,500
287,000
411,000
2,118,000
205,900
855,100
98,620
127,000
62,100
58,700
2,068
2,058
2,056
2,054
2,053
2,049
2,046
2,043
2,036
2,025
2,023
2,022
2,014
2,007
1,994
1,993
1,988
1,986
1,984
1,983
1,970
1,969
1,966
1,958
1,951
1,919
1,914
1,903
1,901
1,901
1,894
1,893
1,889
1,881
1,881
1,877
1,869
1,867
1,857
1,842
1,840
1,836
1,815
1,808
1,806
1,802
1,800
1,792
1,790
1,786
1,786
1,782
1,775
1,772
1,768
1,764
1,760
1,755
1,754
1,753
1,748
1,739
1,731
1,730
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
^
^
^
^
^
^
^
^
^
^
^
^
^
^
^
^
*
^
^
^
Hiday Hidaka Corp.
Fujicco Co. Ltd.
Pal Co. Ltd.
Yellow Hat Ltd.
Yuasa Trading Co. Ltd.
Katakura Industries Co. Ltd.
Japan Pulp & Paper Co. Ltd.
Tsugami Corp.
Marvelous Inc.
Nohmi Bosai Ltd.
Sanyo Denki Co. Ltd.
BML Inc.
Noritake Co. Ltd.
Akebono Brake Industry Co. Ltd.
Takamatsu Construction Group Co. Ltd.
Denki Kogyo Co. Ltd.
Kasumi Co. Ltd.
Arcland Sakamoto Co. Ltd.
Yorozu Corp.
Pacific Industrial Co. Ltd.
Meisei Industrial Co. Ltd.
Noevir Holdings Co. Ltd.
Sumitomo Riko Co. Ltd.
J-Oil Mills Inc.
GMO Payment Gateway Inc.
Adastria Holdings Co. Ltd.
Tsurumi Manufacturing Co. Ltd.
Daiso Co. Ltd.
Nippon Denko Co. Ltd.
Konoike Transport Co. Ltd.
C Uyemura & Co. Ltd.
Futaba Industrial Co. Ltd.
Fujibo Holdings Inc.
Kansai Urban Banking Corp.
Prima Meat Packers Ltd.
Itochu Enex Co. Ltd.
Kohnan Shoji Co. Ltd.
Zenrin Co. Ltd.
Okamoto Industries Inc.
Toyo Construction Co. Ltd.
Nippon Synthetic Chemical Industry Co. Ltd.
EPS Corp.
Shinko Plantech Co. Ltd.
Mitsui Sugar Co. Ltd.
Japan Digital Laboratory Co. Ltd.
Atom Corp.
Kumiai Chemical Industry Co. Ltd.
Belc Co. Ltd.
Fujita Kanko Inc.
Vital KSK Holdings Inc.
Sanyo Shokai Ltd.
Tamura Corp.
Shikoku Chemicals Corp.
Geo Holdings Corp.
CREATE SD HOLDINGS Co. Ltd.
Sumitomo Seika Chemicals Co. Ltd.
Nippon Koei Co. Ltd.
Ishihara Sangyo Kaisha Ltd.
[email protected] Communications Inc.
FIDEA Holdings Co. Ltd.
Goldcrest Co. Ltd.
Artnature Inc.
Kura Corp.
Macnica Inc.
51
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
82,200
411,000
551,000
188,400
109,100
877,500
1,068,000
96,300
209,500
39,400
877,000
462,000
145,000
97,500
200,000
95,300
297,000
710,000
487,900
791,000
99,300
224,000
161,300
290,000
129,000
1,835,000
671,000
91,000
61,700
1,007,000
223,600
371,000
85,100
52,500
101,100
275,000
137,600
703,000
120,700
278,300
185,000
36,500
545,000
89,400
81,000
1,364,400
341,000
404,600
227,900
179,400
99,100
650,000
36,200
206,400
370,000
276,000
162,800
637,000
73,300
286,000
160,800
192,300
187,400
81,400
1,710
1,699
1,697
1,696
1,694
1,690
1,690
1,688
1,684
1,683
1,682
1,678
1,678
1,675
1,675
1,672
1,667
1,652
1,650
1,646
1,644
1,644
1,630
1,624
1,619
1,618
1,612
1,601
1,601
1,600
1,598
1,594
1,592
1,590
1,589
1,585
1,584
1,582
1,582
1,577
1,567
1,553
1,553
1,550
1,549
1,548
1,546
1,545
1,545
1,541
1,532
1,528
1,519
1,519
1,513
1,511
1,507
1,503
1,501
1,499
1,494
1,489
1,487
1,470
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
^
^
^
^
^
*,^
*,^
^
^
^
^
*,^
*,^
^
^
^
*
^
^
S Foods Inc.
Nippon Thompson Co. Ltd.
Sakai Chemical Industry Co. Ltd.
Koa Corp.
Ringer Hut Co. Ltd.
JVC Kenwood Corp.
Daisan Bank Ltd.
Happinet Corp.
Senshukai Co. Ltd.
Trancom Co. Ltd.
Michinoku Bank Ltd.
Kyodo Printing Co. Ltd.
Cosel Co. Ltd.
Eiken Chemical Co. Ltd.
Taihei Dengyo Kaisha Ltd.
Siix Corp.
Goldwin Inc.
Tokushu Tokai Paper Co. Ltd.
Tsukuba Bank Ltd.
Kurimoto Ltd.
UKC Holdings Corp.
Neturen Co. Ltd.
T-Gaia Corp.
Toyo Kohan Co. Ltd.
Maeda Kosen Co. Ltd.
Towa Bank Ltd.
Toyo Kanetsu KK
Aiphone Co. Ltd.
Union Tool Co.
Janome Sewing Machine Co. Ltd.
Chiba Kogyo Bank Ltd.
Kinugawa Rubber Industrial Co. Ltd.
Toyo Tanso Co. Ltd.
OBIC Business Consultants Ltd.
Japan Cash Machine Co. Ltd.
Keihanshin Building Co. Ltd.
ASKA Pharmaceutical Co. Ltd.
Mitsubishi Steel Manufacturing Co. Ltd.
Megachips Corp.
Itoki Corp.
Ines Corp.
Wowow Inc.
Kintetsu Department Store Co. Ltd.
Konishi Co. Ltd.
Tocalo Co. Ltd.
Daiei Inc.
Keiyo Co. Ltd.
Mito Securities Co. Ltd.
Tosei Corp.
Nichiha Corp.
Alpen Co. Ltd.
Kyokuyo Co. Ltd.
Japan Drilling Co. Ltd.
Justsystems Corp.
SMK Corp.
Nissin Electric Co. Ltd.
Toyo Corp.
Mie Bank Ltd.
Pack Corp.
Daiichi Jitsugyo Co. Ltd.
Misawa Homes Co. Ltd.
Yahagi Construction Co. Ltd.
Aisan Industry Co. Ltd.
Optex Co. Ltd.
52
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
3,345,000
140,900
579,000
224,200
142,700
159,100
100,300
134,000
130,300
79,100
62,800
146,000
48,743
57,300
96,300
140,000
1,478,000
184,700
356,000
361,000
306,600
49,300
79,600
42,500
51,100
105,200
140,500
1,015,000
627,200
47,400
148,100
432,000
462,000
72,500
165,100
115,500
300,200
83,000
64,200
91,600
47,961
27,500
154,700
1,706,000
109,400
157,000
522,000
464,000
94,100
257,000
413,000
204,000
114,100
74,200
166,000
59,800
75,600
267,000
422,000
688,000
172,000
132,000
101,200
130,700
1,468
1,463
1,463
1,454
1,451
1,451
1,443
1,440
1,438
1,427
1,424
1,422
1,419
1,414
1,405
1,400
1,399
1,386
1,386
1,385
1,385
1,383
1,383
1,381
1,379
1,377
1,376
1,376
1,372
1,371
1,370
1,369
1,367
1,361
1,361
1,354
1,346
1,343
1,339
1,329
1,319
1,319
1,315
1,307
1,300
1,300
1,298
1,296
1,294
1,292
1,289
1,288
1,286
1,279
1,274
1,272
1,271
1,271
1,263
1,262
1,262
1,259
1,258
1,253
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*,^
^
^
^
^
*,^
*,^
^
^
^
^
^
*
^
^
^
^
^
Unitika Ltd.
Toa Corp.
NS United Kaiun Kaisha Ltd.
Toho Titanium Co. Ltd.
Ryoyo Electro Corp.
Kappa Create Holdings Co. Ltd.
Key Coffee Inc.
CONEXIO Corp.
Sun Frontier Fudousan Co. Ltd.
Osaka Steel Co. Ltd.
Jamco Corp.
Nagatanien Co. Ltd.
Maruwa Co. Ltd.
Icom Inc.
Nippon Ceramic Co. Ltd.
Showa Aircraft Industry Co. Ltd.
SWCC Showa Holdings Co. Ltd.
Mitsubishi Nichiyu Forklift Co. Ltd.
Mitsubishi Kakoki Kaisha Ltd.
Nittetsu Mining Co. Ltd.
Riken Technos Corp.
Pressance Corp.
Warabeya Nichiyo Co. Ltd.
Hamakyorex Co. Ltd.
Nippon Kanzai Co. Ltd.
Denyo Co. Ltd.
Tsukui Corp.
Achilles Corp.
OSJB Holdings Corp.
Shimizu Bank Ltd.
Hisaka Works Ltd.
Maruzen Showa Unyu Co. Ltd.
Fuso Pharmaceutical Industries Ltd.
Nitto Kohki Co. Ltd.
Idec Corp.
WATAMI Co. Ltd.
Belluna Co. Ltd.
JSP Corp.
Yushin Precision Equipment Co. Ltd.
Sac's Bar Holdings Inc.
Weathernews Inc.
Zuiko Corp.
Tabuchi Electric Co. Ltd.
Mitsubishi Paper Mills Ltd.
Kaga Electronics Co. Ltd.
Okuwa Co. Ltd.
Nissin Corp.
Nippon Valqua Industries Ltd.
Ikyu Corp.
Takiron Co. Ltd.
Nippon Sharyo Ltd.
Kobelco Eco-Solutions Co. Ltd.
Meiko Network Japan Co. Ltd.
Mitani Sekisan Co. Ltd.
Daiwa Industries Ltd.
Elecom Co. Ltd.
Chiyoda Integre Co. Ltd.
Tokyo Tekko Co. Ltd.
Starzen Co. Ltd.
Chukyo Bank Ltd.
Ryoden Trading Co. Ltd.
Sagami Chain Co. Ltd.
Sumitomo Densetsu Co. Ltd.
Shinko Shoji Co. Ltd.
53
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
29,200
88,200
173,700
248,800
191,000
329,000
413,000
740,000
749,000
139,700
55,300
213,000
47,900
697,000
76,500
101,100
81,500
102,200
340,000
129,400
254,000
636,000
33,600
118,900
782,000
661,000
217,000
208,000
67,200
45,800
484,000
277,000
308,000
205,000
272,000
142,100
195,000
216,000
59,700
75,100
59,500
52,100
170,000
105,200
1,073,000
80,500
347,000
99,700
219,700
301,000
973,700
682,000
53,200
1,449,000
726,000
196,100
731,000
47,800
82,700
264,000
975,000
42,600
50,500
45,300
1,253
1,252
1,250
1,248
1,242
1,215
1,208
1,207
1,199
1,199
1,194
1,187
1,185
1,183
1,175
1,171
1,166
1,156
1,154
1,150
1,128
1,127
1,126
1,123
1,123
1,120
1,119
1,116
1,106
1,103
1,101
1,098
1,094
1,091
1,090
1,085
1,077
1,076
1,075
1,071
1,069
1,063
1,063
1,063
1,052
1,050
1,049
1,047
1,046
1,045
1,042
1,040
1,040
1,034
1,033
1,028
1,028
1,027
1,026
1,019
1,013
1,000
997
994
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
^
*,^
^
^
^
^
^
*
^
^
^
^
^
^
*
*,^
Ateam Inc.
Tenma Corp.
Sanshin Electronics Co. Ltd.
Tatsuta Electric Wire and Cable Co. Ltd.
U-Shin Ltd.
JP-Holdings Inc.
Toyo Securities Co. Ltd.
France Bed Holdings Co. Ltd.
Tokyo Rope Manufacturing Co. Ltd.
Furuno Electric Co. Ltd.
Nichiden Corp.
Hosokawa Micron Corp.
Tsutsumi Jewelry Co. Ltd.
Nippon Beet Sugar Manufacturing Co. Ltd.
Cawachi Ltd.
Toridoll.corp
Yonekyu Corp.
Teikoku Electric Manufacturing Co. Ltd.
Shibusawa Warehouse Co. Ltd.
Cleanup Corp.
Yomiuri Land Co. Ltd.
Fujiya Co. Ltd.
Itochu-Shokuhin Co. Ltd.
ESPEC Corp.
Sinfonia Technology Co. Ltd.
Nippon Carbon Co. Ltd.
Nippon Steel & Sumikin Texeng Co. Ltd.
Toenec Corp.
Gecoss Corp.
Kita-Nippon Bank Ltd.
Daiken Corp.
Kanto Denka Kogyo Co. Ltd.
Toyo Denki Seizo - Toyo Electric Manufacturing Co. Ltd.
Koatsu Gas Kogyo Co. Ltd.
Sinanen Co. Ltd.
Torishima Pump Manufacturing Co. Ltd.
Yurtec Corp.
Maruetsu Inc.
Mars Engineering Corp.
Ministop Co. Ltd.
Open House Co. Ltd.
Nissei ASB Machine Co. Ltd.
Osaki Electric Co. Ltd.
Yusen Logistics Co. Ltd.
Nippon Coke & Engineering Co. Ltd.
Kanematsu Electronics Ltd.
Arata Corp.
Arakawa Chemical Industries Ltd.
Shin-Etsu Polymer Co. Ltd.
Japan Transcity Corp.
Nippon Parking Development Co. Ltd.
KNT-CT Holdings Co. Ltd.
Matsuya Foods Co. Ltd.
Nakayama Steel Works Ltd.
Dai Nippon Toryo Co. Ltd.
Komatsu Seiren Co. Ltd.
Godo Steel Ltd.
Elematec Corp.
K&O Energy Group Inc.
Toho Co. Ltd.
Atsugi Co. Ltd.
Mitsubishi Research Institute Inc.
Dai-ichi Seiko Co. Ltd.
Tosho Co. Ltd.
54
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
815,571
138,800
58,100
93,000
94,000
131,000
404,000
165,300
65,400
253,000
61,800
281,000
102,400
66,900
150,800
132,700
138,400
278,000
173,000
80,500
385,000
294,000
162,000
458,000
336,000
29,600
109,300
325,000
78,300
201,000
43,400
108,000
359,000
397,000
305,000
268,000
120,000
232,000
57,800
388,000
553,000
321,000
423,000
115,000
357,000
513,000
87,820
252,000
268,500
77,000
322,000
75,000
66,300
43,000
161,800
389,000
52,600
67,400
177,000
80,600
582,000
88,300
230,000
67,771
990
987
986
961
958
956
954
937
935
922
921
919
915
914
913
913
909
902
899
890
889
889
886
885
883
881
878
878
875
870
861
859
857
856
856
852
851
848
846
845
843
842
839
839
838
838
832
830
827
826
826
826
826
825
824
817
817
816
816
812
804
801
798
797
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*
^
^
^
^
^
*
^
^
^
^
^
^
^
^
^
^
^
*,^
Mitsui Matsushima Co. Ltd.
Kamei Corp.
Rock Field Co. Ltd.
Onoken Co. Ltd.
Taiho Kogyo Co. Ltd.
Tokyo Energy & Systems Inc.
T RAD Co. Ltd.
Next Co. Ltd.
Melco Holdings Inc.
Japan Radio Co. Ltd.
Chori Co. Ltd.
Kyosan Electric Manufacturing Co. Ltd.
Benefit One Inc.
Fujitsu Frontech Ltd.
Mitsui High-Tec Inc.
Airport Facilities Co. Ltd.
Sanoh Industrial Co. Ltd.
Uchida Yoko Co. Ltd.
Nippon Chemiphar Co. Ltd.
CAC Holdings Corp.
Asahi Organic Chemicals Industry Co. Ltd.
Gun-Ei Chemical Industry Co. Ltd.
Japan Vilene Co. Ltd.
Nice Holdings Inc.
Hokkaido Gas Co. Ltd.
Daikokutenbussan Co. Ltd.
Parco Co. Ltd.
Sekisui Plastics Co. Ltd.
Matsuda Sangyo Co. Ltd.
Organo Corp.
CHIMNEY Co. Ltd.
Nihon Dempa Kogyo Co. Ltd.
Seika Corp.
Tonami Holdings Co. Ltd.
NDS Co. Ltd.
Kitano Construction Corp.
Kanaden Corp.
Toda Kogyo Corp.
Takaoka Toko Co. Ltd.
Iwasaki Electric Co. Ltd.
Nihon Yamamura Glass Co. Ltd.
Tomoku Co. Ltd.
Chugai Ro Co. Ltd.
Asunaro Aoki Construction Co. Ltd.
Ichikoh Industries Ltd.
Chuetsu Pulp & Paper Co. Ltd.
Honeys Co. Ltd.
Tosho Printing Co. Ltd.
Fuji Oil Co. Ltd.
GCA Savvian Corp.
Hokkan Holdings Ltd.
Asahi Co. Ltd.
Yushiro Chemical Industry Co. Ltd.
KFC Holdings Japan Ltd.
Aichi Corp.
Uniden Corp.
CMIC Holdings Co. Ltd.
Fuji Electronics Co. Ltd.
Sanix Inc.
Hakuto Co. Ltd.
Rhythm Watch Co. Ltd.
Funai Electric Co. Ltd.
Okura Industrial Co. Ltd.
Dunlop Sports Co. Ltd.
55
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
353,000
452,000
40,900
86,600
146,600
75,400
85,900
50,200
55,400
59,800
101,700
137,500
59,200
72,300
192,000
30,000
161,000
280,900
63,900
65,100
184,400
333,000
60,300
149,000
41,600
54,600
243,000
114,300
366,000
508,300
72,700
223,000
96,000
52,000
151,000
132,500
48,900
178,800
287,000
432,000
46,700
26,500
132,000
48,700
26,500
373,000
254,000
60,400
37,400
109,100
83,900
90,300
862,000
202,000
39,200
90,100
139,000
53,700
42,400
518,000
186,000
413,600
18,500
87,600
794
792
787
783
781
779
774
773
767
767
755
749
749
749
738
731
726
718
706
696
693
686
680
679
679
675
665
664
664
662
657
654
646
642
605
599
593
592
587
584
584
577
574
573
564
561
557
554
553
545
544
544
529
523
523
519
510
509
506
503
501
497
492
483
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
^
*,^
^
^
^
^
^
^
*,^
^
^
*,^
^
^
^
^
^
*,^
^
*,^
Gakken Holdings Co. Ltd.
Kitagawa Iron Works Co. Ltd.
NEC Capital Solutions Ltd.
Mimasu Semiconductor Industry Co. Ltd.
Fujikura Kasei Co. Ltd.
Corona Corp. Class A
Zuken Inc.
Hioki EE Corp.
Axell Corp.
Studio Alice Co. Ltd.
Shin Nippon Biomedical Laboratories Ltd.
Noritsu Koki Co. Ltd.
Kourakuen Corp.
Maezawa Kasei Industries Co. Ltd.
Mory Industries Inc.
Taisei Lamick Co. Ltd.
Tokyo Rakutenchi Co. Ltd.
CMK Corp.
Advan Co. Ltd.
Information Services International-Dentsu Ltd.
Sankyo Seiko Co. Ltd.
Oenon Holdings Inc.
Endo Lighting Corp.
Daidoh Ltd.
Daikoku Denki Co. Ltd.
Maezawa Kyuso Industries Co. Ltd.
Toko Inc.
Future Architect Inc.
Hodogaya Chemical Co. Ltd.
Aplus Financial Co. Ltd.
ST Corp.
Chuo Spring Co. Ltd.
Pronexus Inc.
Inaba Seisakusho Co. Ltd.
Sumitomo Precision Products Co. Ltd.
Paris Miki Holdings Inc.
Daisyo Corp.
Nissen Holdings Co. Ltd.
Shiroki Corp.
FDK Corp.
Stella Chemifa Corp.
Nihon Trim Co. Ltd.
Mitsui Home Co. Ltd.
Shinwa Co. Ltd.
Japan Pure Chemical Co. Ltd.
Shoko Co. Ltd.
Toli Corp.
Shimojima Co. Ltd.
Tomen Electronics Corp.
Pasona Group Inc.
Right On Co. Ltd.
Pocket Card Co. Ltd.
Daiichi Chuo KK
Wood One Co. Ltd.
Aeon Fantasy Co. Ltd.
ValueCommerce Co. Ltd.
Takihyo Co. Ltd.
Olympic Group Corp.
NIFTY Corp.
Yamada SxL Home Co. Ltd.
Kinki Sharyo Co. Ltd.
Best Denki Co. Ltd.
Panasonic Information Systems
Panasonic Industrial Devices SUNX Co. Ltd.
56
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
36,300
224,000
63,200
35,500
125,300
281,000
133,100
49,500
172,000
75,900
7,000
482
478
470
465
429
390
369
257
223
213
34
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
^
^
Alpha Systems Inc.
Krosaki Harima Corp.
Livesense Inc.
Tokyo Electron Device Ltd.
Cybozu Inc.
Toa Oil Co. Ltd.
Kojima Co. Ltd.
Ohara Inc.
Nippon Kasei Chemical Co. Ltd.
Mr Max Corp.
Mitsuuroko Group Holdings Co. Ltd.
21,380,782
Malaysia (0.9%)
Public Bank Bhd. (Local)
Malayan Banking Bhd.
Axiata Group Bhd.
CIMB Group Holdings Bhd.
Sime Darby Bhd.
DiGi.Com Bhd.
Genting Bhd.
Tenaga Nasional Bhd.
IOI Corp. Bhd.
Petronas Gas Bhd.
Petronas Chemicals Group Bhd.
Maxis Bhd.
IHH Healthcare Bhd.
SapuraKencana Petroleum Bhd.
Genting Malaysia Bhd.
Kuala Lumpur Kepong Bhd.
AMMB Holdings Bhd.
Gamuda Bhd.
MISC Bhd.
British American Tobacco Malaysia Bhd.
PPB Group Bhd.
YTL Corp. Bhd.
IJM Corp. Bhd.
Hong Leong Bank Bhd.
Telekom Malaysia Bhd.
UMW Holdings Bhd.
Felda Global Ventures Holdings Bhd.
Dialog Group Bhd.
RHB Capital Bhd.
Petronas Dagangan Bhd.
Bumi Armada Bhd.
Malaysia Airports Holdings Bhd.
Alliance Financial Group Bhd.
2
Astro Malaysia Holdings Bhd.
YTL Power International Bhd.
IOI Properties Group Bhd.
Lafarge Malaysia Bhd.
Hong Leong Financial Group Bhd.
Genting Plantations Bhd.
KLCCP Stapled Group
AirAsia Bhd.
Berjaya Sports Toto Bhd.
UEM Sunrise Bhd.
Bursa Malaysia Bhd.
SP Setia Bhd Group
HAP Seng Consolidated Bhd.
IGB Corp. Bhd.
KPJ Healthcare Bhd.
MMC Corp. Bhd.
Magnum Bhd.
BIMB Holdings Bhd.
19,702,014
27,267,890
31,598,600
33,409,000
19,744,400
23,653,700
14,046,600
8,852,800
23,657,386
5,016,500
18,305,027
16,668,450
17,336,877
24,376,422
18,822,600
3,396,086
11,085,800
12,586,500
9,298,230
905,700
3,741,800
34,090,686
7,625,060
3,604,560
6,826,200
4,206,200
11,804,524
25,114,244
4,410,100
1,886,400
22,145,487
4,685,800
6,928,900
9,909,600
19,165,080
10,603,042
2,685,000
1,345,400
2,186,600
2,855,200
7,764,200
5,400,174
9,717,803
2,150,100
5,205,700
3,694,500
5,305,548
3,753,890
5,443,300
4,755,300
3,320,460
57
111,186
80,421
67,911
66,072
58,197
44,751
41,788
35,962
35,177
34,415
34,303
34,253
26,106
25,451
24,705
23,745
22,876
19,582
19,531
19,159
18,009
17,210
16,060
16,020
15,024
14,978
13,141
12,373
11,800
11,733
10,576
10,304
10,131
9,945
9,268
8,905
8,554
7,406
7,047
5,971
5,938
5,905
5,588
5,291
5,244
4,933
4,643
4,484
4,397
4,339
4,311
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
3,235,500
1,982,100
6,868,400
5,171,900
4,680,200
3,708,257
5,235,540
2,515,100
3,513,300
5,619,200
3,982,800
5,401,918
2,304,600
4,783,050
6,858,100
964,700
3,077,564
1,911,340
3,897,458
2,080,600
6,541,500
2,695,800
2,822,900
2,369,700
3,910,190
16,816,800
5,647,800
32,071,600
3,542,800
2,080,000
2,948,300
1,162,895
2,379,900
2,776,000
8,011,050
2,709,700
7,285,800
1,514,500
1,978,200
2,468,671
3,274,600
1,807,600
3,007,200
4,520,900
1,499,100
2,668,040
2,422,004
5,215,000
9,195,600
1,607,066
8,240,100
1,811,400
2,391,600
568,847
319,480
2,286,033
1,550,450
741,960
521,665
111,300
558,140
72,940
165,750
288,480
4,293
4,220
4,100
4,072
4,018
3,890
3,792
3,758
3,678
3,647
3,638
3,564
3,539
3,468
3,297
3,260
3,214
3,014
2,990
2,910
2,864
2,826
2,807
2,670
2,664
2,609
2,583
2,490
2,286
2,271
2,167
2,153
2,107
2,044
1,996
1,932
1,928
1,842
1,759
1,716
1,676
1,627
1,566
1,541
1,511
1,323
1,235
1,222
1,201
1,017
887
863
447
277
263
170
134
129
83
79
67
61
44
32
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Cahya Mata Sarawak Bhd.
Hartalega Holdings Bhd.
Media Prima Bhd.
Malaysia Building Society Bhd.
Eastern & Oriental Bhd.
Sunway Bhd.
Mah Sing Group Bhd.
Top Glove Corp. Bhd.
Kulim Malaysia Bhd.
DRB-Hicom Bhd.
Westports Holdings Bhd.
WCT Holdings Bhd.
Pos Malaysia Bhd.
TSH Resources Bhd.
Malaysian Resources Corp. Bhd.
Carlsberg Brewery Malaysia Bhd.
QL Resources Bhd.
TIME dotCom Bhd.
Parkson Holdings Bhd.
Kossan Rubber Industries
CapitaMalls Malaysia Trust
IJM Land Bhd.
UMW Oil & Gas Corp. Bhd.
Axis REIT
OSK Holdings Bhd.
Berjaya Corp. Bhd.
Pavilion REIT
Malaysian Airline System Bhd.
Jaya Tiasa Holdings Bhd.
Gas Malaysia Bhd.
MPHB Capital Bhd.
Keck Seng Malaysia Bhd.
Yinson Holdings Bhd.
CB Industrial Product Holding Bhd.
KNM Group Bhd.
Supermax Corp. Bhd.
TA Enterprise Bhd.
Coastal Contracts Bhd.
Muhibbah Engineering M Bhd.
Malaysia Marine and Heavy Engineering Holdings Bhd.
Datasonic Group Bhd.
Dayang Enterprise Holdings Bhd.
Unisem M Bhd.
Perisai Petroleum Teknologi Bhd.
Puncak Niaga Holdings Bhd.
Perdana Petroleum Bhd.
Wah Seong Corp. Bhd.
AirAsia X Bhd.
Mulpha International Bhd.
Mudajaya Group Bhd.
Scomi Group Bhd.
Malaysian Bulk Carriers Bhd.
Lion Industries Corp. Bhd.
Malaysia Building Society Bhd. Warrants Exp. 05/31/2016
KPJ Healthcare Bhd. Warrants Exp. 01/10/2015
Malaysian Resources Corp. Bhd. Warrants Exp. 09/16/2018
KNM Group Bhd. Warrants Exp. 11/15/2017
BIMB Holdings Bhd. Warrants Exp. 12/31/2014
Mah Sing Group Bhd. Warrants Exp. 03/18/2018
Puncak Niaga Holding Bhd. Warrants Exp. 07/20/2018
WCT Holdings Bhd. Warrants Exp. 12/11/2017
Hartalega Holdings Bhd. Warrants Exp. 05/29/2015
Kulim Malaysia Bhd. Warrants Exp. 02/27/2016
WCT Holdings Bhd. Warrants Exp. 03/10/2016
58
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
46,016
88,380
462,666
19
11
___________1
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
Coastal Contracts Bhd. Warrants Exp. 07/18/2016
MBM Resources Bhd. Warrants Exp. 06/14/2017
CB Industrial Product Holding Bhd. Warrants Exp. 10/31/2019
1,250,681
Mexico (1.1%)
America Movil SAB de CV
Fomento Economico Mexicano SAB de CV
Grupo Televisa SAB
*
Cemex SAB de CV
Grupo Financiero Banorte SAB de CV
Grupo Mexico SAB de CV Class B
Wal-Mart de Mexico SAB de CV
Alfa SAB de CV Class A
Fibra Uno Administracion SA de CV
Grupo Financiero Inbursa SAB de CV
Grupo Bimbo SAB de CV Class A
Mexichem SAB de CV
Coca-Cola Femsa SAB de CV
Grupo Financiero Santander Mexico SAB de CV Class B
Grupo Aeroportuario del Sureste SAB de CV Class B
Industrias Penoles SAB de CV
Grupo Carso SAB de CV
*
Promotora y Operadora de Infraestructura SAB de CV
Compartamos SAB de CV
Grupo Aeroportuario del Pacifico SAB de CV Class B
*
Genomma Lab Internacional SAB de CV Class B
Kimberly-Clark de Mexico SAB de CV Class A
*
Gruma SAB de CV Class B
Arca Continental SAB de CV
Controladora Comercial Mexicana SAB de CV
*
OHL Mexico SAB de CV
*
Alsea SAB de CV
Mexico Real Estate Management SA de CV
Grupo Elektra SAB DE CV
Bolsa Mexicana de Valores SAB de CV
Infraestructura Energetica Nova SAB de CV
PLA Administradora Industrial S de RL de CV
Grupo Lala SAB de CV
Grupo Comercial Chedraui SA de CV
Grupo Aeroportuario del Centro Norte Sab de CV Class B
*
Industrias CH SAB de CV Class B
*
Empresas ICA SAB de CV
*
Minera Frisco SAB de CV
Corp Inmobiliaria Vesta SAB de CV
Organizacion Soriana SAB de CV Class B
*
Industrias Bachoco SAB de CV Class B
TV Azteca SAB de CV
Concentradora Fibra Hotelera Mexicana SA de CV
*
Grupo Aeromexico SAB de CV
Grupo Sanborns SAB de CV
*
Grupo Financiero Interacciones SA de CV
Alpek SAB de CV
Concentradora Fibra Danhos SA de CV
*
Megacable Holdings SAB de CV
*
Qualitas Controladora SAB de CV
*
Banregio Grupo Financiero SAB de CV
*
Grupo Simec SAB de CV Class B
Grupo Herdez SAB de CV
Organizacion Cultiba SAB de CV
*
Consorcio ARA SAB de CV
*
Urbi Desarrollos Urbanos SAB de CV
*
Corp GEO SAB de CV
*
Cemex SAB de CV ADR
189,528,967
13,699,845
16,689,329
76,823,655
14,433,807
24,720,863
35,603,691
17,908,112
14,208,574
13,106,013
11,964,232
7,053,607
2,615,136
9,463,165
1,421,046
801,940
3,074,084
1,248,728
7,137,110
2,174,612
5,049,972
5,486,069
1,065,926
1,736,978
2,825,235
3,923,548
3,275,106
5,131,640
223,040
3,796,751
1,253,617
3,107,438
2,969,100
1,861,571
1,297,973
1,124,820
3,422,813
3,346,453
2,421,645
1,625,530
1,022,500
9,564,373
2,626,078
2,774,300
2,509,891
485,609
2,199,056
1,296,300
649,503
1,087,744
434,100
484,010
830,616
1,318,134
4,444,366
2,494,600
2,276,157
22,090
59
231,242
131,767
120,613
94,644
92,597
84,941
82,305
57,064
49,380
39,358
34,996
28,856
27,590
25,214
18,997
17,998
17,564
17,154
15,895
14,795
12,747
12,698
11,738
11,186
11,069
11,043
10,229
9,321
8,279
7,971
7,673
7,202
6,813
6,548
6,467
6,094
6,093
5,954
5,316
5,312
5,201
5,000
4,397
4,314
4,017
3,956
3,890
3,286
2,975
2,813
2,511
2,142
2,117
2,071
2,046
295
281
272
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,200
82
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Grupo Aeroportuario del Pacifico SAB de CV ADR
1,424,389
Morocco (0.0%)
Douja Promotion Groupe Addoha SA
Netherlands (1.9%)
Unilever NV
*
ING Groep NV
ASML Holding NV
Koninklijke Philips NV
Unibail-Rodamco SE
Heineken NV
Akzo Nobel NV
Aegon NV
Reed Elsevier NV
Koninklijke Ahold NV
ArcelorMittal
Koninklijke DSM NV
Koninklijke KPN NV
Wolters Kluwer NV
*
Ziggo NV
Heineken Holding NV
^
Gemalto NV
*
Altice SA
Randstad Holding NV
Delta Lloyd NV
Boskalis Westminster NV
Nutreco NV
Koninklijke Vopak NV
Corio NV
*
OCI NV
TNT Express NV
Aalberts Industries NV
*
SBM Offshore NV
ASM International NV
Eurocommercial Properties NV
Arcadis NV
*
PostNL NV
Wereldhave NV
*,^
APERAM
TKH Group NV
Fugro NV
Corbion NV
Vastned Retail NV
*
TomTom NV
Nieuwe Steen Investments NV
USG People NV
^
Royal Imtech NV
BinckBank NV
Koninklijke BAM Groep NV
Koninklijke Ten Cate NV
Brunel International NV
Accell Group
Koninklijke Wessanen NV
*,^
Grontmij
Aegon NV
*,^
SNS REAAL NV
84,813
471
9,868,521
24,487,672
2,115,391
5,907,421
616,175
1,388,475
1,539,267
12,045,542
3,985,373
5,209,256
6,331,382
1,108,293
19,652,527
1,868,438
911,322
621,570
500,341
534,077
682,490
1,235,244
491,015
436,725
421,228
432,864
517,264
2,960,645
608,716
1,140,343
313,095
263,462
387,495
2,797,405
137,792
295,866
239,320
477,327
377,824
120,368
730,999
838,191
414,495
729,434
384,570
1,369,691
144,713
119,740
156,273
369,386
443,215
922
672,039
383,155
351,888
211,081
165,241
158,075
103,738
102,468
98,174
91,832
87,169
82,997
69,489
64,537
49,907
44,572
40,275
38,271
33,284
30,145
28,169
26,203
21,886
21,117
21,077
18,043
17,208
16,229
14,297
12,538
12,029
11,929
11,880
11,303
8,522
7,260
6,607
6,107
5,503
5,308
4,168
4,161
3,989
3,813
3,291
3,263
2,691
2,496
2,363
2,042
8
—
___________
2,521,798
New Zealand (0.2%)
Spark New Zealand Ltd.
Fletcher Building Ltd.
Auckland International Airport Ltd.
Ryman Healthcare Ltd.
Fisher & Paykel Healthcare Corp. Ltd.
11,545,076
4,094,177
5,630,364
2,591,002
3,410,341
60
28,467
27,533
17,326
15,367
15,054
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
2,425,881
2,301,309
3,649,414
4,407,336
2,537,472
6,509,165
2,642,328
479,674
6,130,970
3,184,199
1,518,931
5,057,419
912,184
2,399,708
4,550,107
515,806
1,622,420
1,239,830
1,230,370
1,400,306
788,305
1,827,208
889,063
1,147,676
240,759
540,063
2,284,512
2,806,676
1,188,709
12,030
11,143
11,126
9,692
7,880
6,123
5,965
5,930
5,265
5,106
4,910
4,180
4,054
3,948
3,904
3,849
3,457
3,073
3,031
3,017
2,680
2,182
2,172
1,763
1,629
1,480
1,309
1,295
33
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*,^
*
^
*,^
*,^
*
SKY Network Television Ltd.
Contact Energy Ltd.
SKYCITY Entertainment Group Ltd.
Mighty River Power Ltd.
Trade Me Group Ltd.
Kiwi Income Property Trust
Infratil Ltd.
Xero Ltd.
Goodman Property Trust
Air New Zealand Ltd.
Z Energy Ltd.
Argosy Property Ltd.
Freightways Ltd.
Chorus Ltd.
Precinct Properties New Zealand Ltd.
Ebos Group Ltd.
Vector Ltd.
Nuplex Industries Ltd.
Kathmandu Holdings Ltd.
Summerset Group Holdings Ltd.
Metlifecare Ltd.
Vital Healthcare Property Trust
Warehouse Group Ltd.
Tower Ltd.
Fletcher Building Ltd.
Synlait Milk Ltd.
New Zealand Oil & Gas Ltd.
a2 Milk Co. Ltd.
Bathurst Resources Ltd.
235,973
Norway (0.6%)
Statoil ASA
DNB ASA
Telenor ASA
Yara International ASA
^
Seadrill Ltd.
Norsk Hydro ASA
Orkla ASA
Schibsted ASA
Marine Harvest ASA
^
Gjensidige Forsikring ASA
Subsea 7 SA
*
DNO ASA
^
TGS Nopec Geophysical Co. ASA
*
Storebrand ASA
^
Opera Software ASA
SpareBank 1 SMN
^
Petroleum Geo-Services ASA
Atea ASA
*,2
Aker Solutions ASA
Salmar ASA
*,^
REC Silicon ASA
*,^
Nordic Semiconductor ASA
SpareBank 1 SR-Bank ASA
Prosafe SE
*
Norwegian Property ASA
*,^
Det Norske Oljeselskap ASA
^,2
BW LPG Ltd.
Leroy Seafood Group ASA
Aker ASA
^
Akastor ASA
Austevoll Seafood ASA
Wilh Wilhelmsen ASA
BW Offshore Ltd.
6,061,768
6,787,020
4,405,515
1,113,487
2,228,957
8,482,250
4,948,015
512,736
1,816,938
1,081,602
1,784,361
6,367,484
648,243
2,828,250
633,673
793,919
1,344,401
582,979
928,145
329,423
14,747,623
993,940
647,356
1,188,892
3,352,360
716,332
454,928
95,570
147,542
905,279
470,829
405,636
2,349,548
61
138,545
124,634
99,004
51,248
50,542
47,438
37,836
27,148
25,756
19,640
19,272
15,473
15,172
14,496
7,938
7,080
6,664
6,378
6,013
5,956
5,896
5,611
5,579
5,445
5,123
4,638
4,307
3,612
3,596
3,122
3,055
2,952
2,890
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
138,874
1,914,997
63,968
137,509
162,731
1,647,659
923,490
344,800
2,504
2,329
2,071
1,953
1,736
1,587
1,222
1,019
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
*,^
*
Stolt-Nielsen Ltd.
Golden Ocean Group Ltd.
Norwegian Air Shuttle ASA
Cermaq ASA
Fred Olsen Energy ASA
Archer Ltd.
Kvaerner ASA
Odfjell Drilling Ltd.
796,480
Other (0.2%)3
4
Vanguard FTSE Emerging Markets ETF
6,544,509
279,058
Peru (0.1%)
Credicorp Ltd. (New York Shares)
Credicorp Ltd.
Cia de Minas Buenaventura SAA ADR
Cia de Minas Buenaventura SAA
Volcan Cia Minera SAA Class B
187,961
141,272
1,017,950
289,871
7,791,707
30,262
22,603
9,365
3,312
2,266
___________
67,808
Philippines (0.3%)
Philippine Long Distance Telephone Co.
SM Investments Corp.
Ayala Land Inc.
Universal Robina Corp.
Ayala Corp.
Bank of the Philippine Islands
BDO Unibank Inc.
JG Summit Holdings Inc.
SM Prime Holdings Inc.
Aboitiz Equity Ventures Inc.
Alliance Global Group Inc.
International Container Terminal Services Inc.
Metropolitan Bank & Trust Co.
Jollibee Foods Corp.
Manila Electric Co.
GT Capital Holdings Inc.
Aboitiz Power Corp.
DMCI Holdings Inc.
Megaworld Corp.
Metro Pacific Investments Corp.
Globe Telecom Inc.
Energy Development Corp.
*
Bloomberry Resorts Corp.
San Miguel Corp.
LT Group Inc.
Robinsons Land Corp.
*
Semirara Mining and Power Corp. Class A
Security Bank Corp.
*
Philippine National Bank
Puregold Price Club Inc.
First Gen Corp.
Petron Corp.
Robinsons Retail Holdings Inc.
*
Melco Crown Philippines Resorts Corp.
Cosco Capital Inc.
Rizal Commercial Banking Corp.
*
Nickel Asia Corp.
Manila Water Co. Inc.
Belle Corp.
Vista Land & Lifescapes Inc.
Emperador Inc.
First Philippine Holdings Corp.
*
Travellers International Hotel Group Inc.
Filinvest Land Inc.
542,185
2,022,791
35,713,920
5,514,770
1,469,784
9,984,094
9,077,207
13,772,740
47,565,086
13,940,000
25,975,541
5,171,370
6,911,624
2,676,900
1,928,240
439,265
10,200,023
25,870,000
74,218,000
65,792,600
194,435
42,124,600
19,664,300
4,145,727
18,077,300
10,309,334
1,887,630
1,553,290
2,523,087
5,996,100
7,383,300
16,025,200
2,833,450
10,951,700
20,397,800
2,978,360
3,728,400
5,155,600
26,233,808
21,184,450
11,983,304
1,371,450
10,221,800
60,008,000
62
37,843
35,305
26,647
22,911
22,594
21,135
19,819
19,575
18,593
16,361
14,866
13,525
12,703
11,790
11,302
9,908
9,403
9,338
8,197
7,445
7,298
7,244
6,857
6,705
5,744
5,648
5,132
4,997
4,756
4,631
4,260
4,221
4,042
3,659
3,563
3,532
3,503
3,345
3,062
2,903
2,849
2,670
2,189
2,059
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,233,300
9,692,200
12,122,170
4,167,500
2,020
1,973
1,804
1,112
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Cebu Air Inc.
Philex Mining Corp.
Lopez Holdings Corp.
Atlas Consolidated Mining & Development
461,038
Poland (0.4%)
Powszechna Kasa Oszczednosci Bank Polski SA
Powszechny Zaklad Ubezpieczen SA
Bank Pekao SA
KGHM Polska Miedz SA
PGE SA
^
Polski Koncern Naftowy Orlen SA
LPP SA
Bank Zachodni WBK SA
Polskie Gornictwo Naftowe i Gazownictwo SA
^
Energa SA
Orange Polska SA
^
mBank
Cyfrowy Polsat SA
Tauron Polska Energia SA
ING Bank Slaski SA
^
Lubelski Wegiel Bogdanka SA
Asseco Poland SA
Bank Handlowy w Warszawie SA
Bank Millennium SA
*,^
Alior Bank SA
Enea SA
*,^
Getin Noble Bank SA
CCC SA
^
Eurocash SA
*
PKP Cargo SA
*,^
TVN SA
Synthos SA
^
Netia SA
*,^
Grupa Lotos SA
*,^
Globe Trade Centre SA
*,^
Jastrzebska Spolka Weglowa SA
Budimex SA
*
Kernel Holding SA
Ciech SA
Warsaw Stock Exchange
*
CD Projekt SA
*
Integer.pl SA
*
Fabryki Mebli Forte SA
*,^
Getin Holding SA
*
Boryszew SA
*
Agora SA
5,473,482
355,744
825,690
876,801
4,626,761
2,035,886
8,160
183,013
11,282,089
2,016,345
4,174,712
79,786
1,387,249
6,661,691
204,826
214,719
467,504
204,418
2,681,536
296,669
1,368,466
7,474,445
140,731
495,043
184,674
897,158
2,977,937
2,134,320
417,701
1,652,296
322,106
65,856
326,327
183,260
164,973
377,665
29,486
102,259
2,141,556
592,943
275,178
60,872
53,358
43,202
33,833
30,362
25,360
24,353
20,738
16,852
14,982
12,522
11,810
10,616
10,407
8,482
7,136
6,942
6,907
6,649
6,588
6,505
5,772
5,400
4,881
4,367
4,024
3,698
3,530
3,229
2,984
2,769
2,630
2,570
2,214
2,156
1,873
1,751
1,733
1,553
1,127
657
___________
477,394
Portugal (0.2%)
EDP - Energias de Portugal SA
Galp Energia SGPS SA
*
Banco Comercial Portugues SA
Jeronimo Martins SGPS SA
EDP Renovaveis SA
*
CTT-Correios de Portugal SA
NOS SGPS
Sonae SGPS SA
^
Portugal Telecom SGPS SA
Portucel SA
*,^
Banco BPI SA
Semapa-Sociedade de Investimento e Gestao
Mota-Engil SGPS SA
REN - Redes Energeticas Nacionais SGPS SA
Altri SGPS SA
16,079,070
2,396,566
237,649,007
1,550,161
1,275,686
821,579
1,206,624
5,110,072
3,561,072
1,337,752
2,230,019
296,928
674,990
898,128
974,854
63
69,318
34,837
26,875
13,585
8,311
7,621
6,933
6,866
5,841
4,993
4,385
3,602
3,548
2,785
2,735
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
19,970,703
501
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
Banco Espirito Santo SA
202,736
Russia (0.8%)
Gazprom OAO
Magnit PJSC GDR
Sberbank of Russia
Lukoil OAO
Gazprom OAO ADR
Lukoil OAO ADR
MMC Norilsk Nickel OJSC
Mobile Telesystems OJSC ADR
NOVATEK OAO GDR
NOVATEK OAO
Tatneft OAO
Tatneft OAO ADR
Rosneft OAO
Uralkali OJSC
AK Transneft OAO Preference Shares
VTB Bank OJSC
Rostelecom OJSC
Rosneft OAO GDR
Surgutneftegas OAO
Surgutneftegas OAO ADR
MegaFon OAO GDR
RusHydro JSC
2
VTB Bank OJSC GDR
Moscow Exchange MICEX-RTS OAO
Sistema JSFC GDR
Novolipetsk Steel OJSC GDR
*
PIK Group
Severstal OAO
Severstal OAO GDR
PhosAgro OAO GDR
E.ON Russia JSC
LSR Group GDR
*
Pharmstandard OJSC GDR
Sberbank of Russia ADR
*
Inter RAO JSC
M Video OJSC
Aeroflot - Russian Airlines OJSC
TMK OAO GDR
*
Magnitogorsk Iron & Steel Works OJSC
Federal Grid Co. Unified Energy System JSC
Acron JSC
*
Rosseti JSC
TGK-1 OAO
*
Mechel ADR
Mosenergo OAO
*
OGK-2 OAO
Novolipetsk Steel OJSC
*
Raspadskaya OAO
MMC Norilsk Nickel OJSC ADR
*
Mechel
45,443,500
1,769,653
66,899,502
1,870,275
12,189,650
1,191,285
299,226
3,150,991
390,322
3,218,740
4,727,173
712,870
4,522,009
6,331,396
9,831
19,162,664,410
6,717,563
2,868,319
22,548,236
2,285,127
602,466
811,091,350
6,646,801
8,779,200
876,621
523,106
1,786,200
555,478
504,260
497,304
85,677,911
1,288,122
285,388
459,278
11,773,339,373
478,630
2,585,521
292,619
8,933,490
1,553,612,440
61,723
146,012,055
5,426,746,387
693,432
32,746,556
138,346,306
445,750
773,900
9,538
14,601
149,535
118,720
118,605
92,201
80,902
58,571
55,896
45,059
41,954
33,090
28,637
25,442
25,227
22,672
21,487
17,826
16,751
15,997
15,098
15,057
14,095
13,069
12,581
11,841
7,096
6,704
6,229
5,905
5,334
5,325
4,978
3,769
3,564
3,493
2,591
2,358
2,297
2,295
1,956
1,942
1,929
1,756
652
624
590
577
573
313
178
___________7
1,123,348
Singapore (1.1%)
DBS Group Holdings Ltd.
Oversea-Chinese Banking Corp. Ltd.
Singapore Telecommunications Ltd.
United Overseas Bank Ltd.
Keppel Corp. Ltd.
Global Logistic Properties Ltd.
CapitaLand Ltd.
^
Singapore Press Holdings Ltd.
Wilmar International Ltd.
11,007,854
19,309,383
46,358,814
7,490,167
9,051,393
19,044,085
16,055,470
10,072,593
13,341,895
64
159,071
148,706
136,474
134,422
66,785
40,852
39,831
33,642
33,247
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
38,583,536
9,827,188
5,222,769
3,737,619
28,566,813
12,696,254
16,478,481
3,182,442
12,502,763
32,105,374
5,644,579
15,170,000
631,824
40,699,806
12,426,000
5,301,758
2,879,770
9,013,000
3,870,110
4,544,601
13,109,636
8,539,200
4,029,000
1,575,000
8,156,000
9,308,489
11,532,000
7,362,880
9,098,000
2,972,000
8,725,000
8,834,000
6,141,000
3,928,000
1,752,000
3,410,000
3,095,000
1,385,000
4,351,000
1,840,000
2,975,000
3,952,792
2,443,000
4,695,400
4,253,084
7,983,000
3,719,600
4,431,000
3,058,180
4,664,000
3,290,000
5,777,630
28,067,000
2,659,880
4,142,000
5,442,000
4,732,666
6,872,000
2,353,117
11,164,000
4,106,118
3,615,000
6,391,513
2,327,000
33,055
28,731
28,511
27,546
26,655
26,098
25,354
24,541
21,798
21,711
21,437
21,087
19,668
16,580
16,158
15,029
14,487
13,897
12,458
11,835
11,617
10,179
9,728
9,480
9,095
8,847
8,484
8,476
8,318
6,661
5,808
5,606
5,600
5,277
5,183
5,179
5,148
5,134
5,071
5,000
4,819
4,598
4,547
4,542
4,505
4,322
4,118
4,040
3,887
3,853
3,779
3,760
3,733
3,545
3,539
3,517
3,360
3,344
3,284
3,216
3,164
2,977
2,969
2,963
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
*
^
*,^
*
2
^
*
^
^
^
Genting Singapore plc
Singapore Technologies Engineering Ltd.
Singapore Exchange Ltd.
City Developments Ltd.
Noble Group Ltd.
ComfortDelGro Corp. Ltd.
CapitaMall Trust
Singapore Airlines Ltd.
Ascendas REIT
Hutchison Port Holdings Trust
Sembcorp Industries Ltd.
Suntec REIT
Jardine Cycle & Carriage Ltd.
Golden Agri-Resources Ltd.
CapitaCommercial Trust
Sembcorp Marine Ltd.
UOL Group Ltd.
Singapore Post Ltd.
StarHub Ltd.
Keppel Land Ltd.
Yangzijiang Shipbuilding Holdings Ltd.
Ezion Holdings Ltd.
SATS Ltd.
Venture Corp. Ltd.
Mapletree Commercial Trust
Keppel REIT
Mapletree Greater China Commercial Trust
Mapletree Industrial Trust
Mapletree Logistics Trust
United Engineers Ltd.
Asian Pay Television Trust
Starhill Global REIT
Fortune REIT
CDL Hospitality Trusts
Raffles Medical Group Ltd.
Frasers Centrepoint Trust
Olam International Ltd.
SIA Engineering Co. Ltd.
SMRT Corp. Ltd.
M1 Ltd.
First Resources Ltd.
AIMS AMP Capital Industrial REIT
Parkway Life REIT
Ascott Residence Trust
Silverlake Axis Ltd.
Cambridge Industrial Trust
Frasers Commercial Trust
Cache Logistics Trust
CapitaRetail China Trust
China Animal Healthcare Ltd.
United Envirotech Ltd.
Neptune Orient Lines Ltd.
SIIC Environment Holdings Ltd.
ARA Asset Management Ltd.
Yanlord Land Group Ltd.
Far East Hospitality Trust
OUE Hospitality Trust
Biosensors International Group Ltd.
Wing Tai Holdings Ltd.
Lippo Malls Indonesia Retail Trust
Sabana Shari'ah Compliant Industrial REIT
SPH REIT
COSCO Corp. Singapore Ltd.
Frasers Centrepoint Ltd.
65
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
3,025,000
1,714,000
4,348,000
5,036,300
3,479,000
3,534,000
5,178,000
1,093,646
4,107,000
2,650,000
3,140,000
3,723,000
1,427,000
1,511,000
2,837,000
1,318,000
3,448,000
1,987,077
2,711,000
1,918,000
2,287,200
5,922,000
3,642,000
2,792,000
5,164,398
5,776,000
1,612,000
3,558,000
674,000
2,760,000
760,000
4,096,000
15,906,000
2,821,799
1,131,000
758,000
10,261,500
4,588,000
2,900
2,825
2,776
2,768
2,740
2,723
2,716
2,695
2,630
2,452
2,298
2,261
2,214
2,203
2,032
1,889
1,859
1,844
1,775
1,629
1,548
1,508
1,503
1,464
1,368
1,192
987
985
909
849
810
790
776
693
572
518
169
97
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
*,^
*
^
*
^
^
^
*,^
^
*,^
*,^
*,^
*,^
First REIT
OUE Ltd.
Ascendas India Trust
Ascendas Hospitality Trust
Hyflux Ltd.
Religare Health Trust
Yoma Strategic Holdings Ltd.
Fraser and Neave Ltd.
Ezra Holdings Ltd.
Super Group Ltd.
Croesus Retail Trust
Soilbuild Business Space REIT
Ho Bee Land Ltd.
OSIM International Ltd.
GuocoLeisure Ltd.
Boustead Singapore Ltd.
Vard Holdings Ltd.
Fortune REIT
Indofood Agri Resources Ltd.
Bumitama Agri Ltd.
HanKore Environment Tech Group Ltd.
Midas Holdings Ltd.
Perennial China Retail Trust
CSE Global Ltd.
Raffles Education Corp. Ltd.
Ying Li International Real Estate Ltd.
Tat Hong Holdings Ltd.
China Fishery Group Ltd.
Keppel Telecommunications & Transportation Ltd.
Swiber Holdings Ltd.
Hong Leong Asia Ltd.
Gallant Venture Ltd.
GMG Global Ltd.
Tiger Airways Holdings Ltd.
Hi-P International Ltd.
Metro Holdings Ltd.
Blumont Group Ltd.
LionGold Corp. Ltd.
1,517,905
South Africa (1.6%)
Naspers Ltd.
MTN Group Ltd.
Sasol Ltd.
Standard Bank Group Ltd.
FirstRand Ltd.
Steinhoff International Holdings Ltd.
Sanlam Ltd.
Remgro Ltd.
Aspen Pharmacare Holdings Ltd.
Bidvest Group Ltd.
Woolworths Holdings Ltd.
Shoprite Holdings Ltd.
Growthpoint Properties Ltd.
Barclays Africa Group Ltd.
Mr Price Group Ltd.
Tiger Brands Ltd.
Netcare Ltd.
Nedbank Group Ltd.
Vodacom Group Ltd.
Mediclinic International Ltd.
*
Impala Platinum Holdings Ltd.
RMB Holdings Ltd.
Life Healthcare Group Holdings Ltd.
*
AngloGold Ashanti Ltd.
2,292,774
11,136,706
3,504,147
7,625,036
20,630,047
15,702,486
11,134,148
3,052,977
1,933,230
2,032,713
5,683,084
2,751,993
13,345,605
2,040,615
1,455,496
947,847
9,352,921
1,232,579
2,079,345
2,744,477
3,279,653
4,221,031
6,203,403
2,557,068
66
284,990
246,525
175,073
95,999
88,273
80,332
70,302
70,067
69,015
55,872
40,412
39,845
32,355
32,244
30,128
28,487
28,290
26,843
25,244
24,524
23,891
23,447
23,436
21,407
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,090,468
2,638,800
1,866,287
6,500,388
2,137,942
4,857,613
3,766,637
1,685,063
1,542,620
1,201,293
3,375,640
1,095,947
1,945,988
752,686
1,415,449
376,947
9,314,825
1,973,786
1,472,130
372,890
694,348
362,294
4,706,900
809,082
730,897
2,898,176
387,950
618,700
657,901
689,604
1,435,651
2,206,830
669,889
579,760
2,921,801
1,125,822
1,867,536
542,725
2,704,516
2,555,981
985,674
12,357,955
2,667,392
452,633
915,513
406,205
2,738,162
212,546
212,812
329,985
2,327,175
1,623,378
555,798
1,038,674
1,393,161
241,621
1,034,410
837,765
192,444
2,352,600
590,840
2,749,774
638,139
942,899
18,795
18,053
16,989
16,618
16,064
15,829
15,363
14,598
14,082
13,580
13,342
12,830
12,680
12,577
12,290
11,887
10,816
10,473
10,026
9,834
9,169
9,055
8,834
8,431
8,183
7,775
7,742
7,630
7,616
7,445
6,943
6,889
6,535
6,490
5,985
5,669
5,344
5,295
5,270
5,251
5,200
5,188
4,901
4,720
4,112
3,997
3,972
3,949
3,942
3,891
3,807
3,407
3,351
3,348
3,336
3,320
3,067
2,853
2,146
2,080
2,021
2,019
1,965
1,964
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
^
^
*
^
*
*
^
*,^
*,^
^
^
*,^
^
*,^
^
*
*
Imperial Holdings Ltd.
Truworths International Ltd.
Discovery Ltd.
MMI Holdings Ltd.
Brait SE
Gold Fields Ltd.
Nampak Ltd.
Coronation Fund Managers Ltd.
Investec Ltd.
Foschini Group Ltd.
Sappi Ltd.
SPAR Group Ltd.
AVI Ltd.
Mondi Ltd.
Barloworld Ltd.
Anglo American Platinum Ltd.
Capital Property Fund
Telkom SA SOC Ltd.
Clicks Group Ltd.
Capitec Bank Holdings Ltd.
Tongaat Hulett Ltd.
Kumba Iron Ore Ltd.
Sibanye Gold Ltd.
Exxaro Resources Ltd.
Aeci Ltd.
PPC Ltd.
Omnia Holdings Ltd.
African Rainbow Minerals Ltd.
Liberty Holdings Ltd.
Massmart Holdings Ltd.
Pick n Pay Stores Ltd.
Northam Platinum Ltd.
EOH Holdings Ltd.
Sun International Ltd.
Grindrod Ltd.
DataTec Ltd.
Super Group Ltd.
JSE Ltd.
Attacq Ltd.
Murray & Roberts Holdings Ltd.
Reunert Ltd.
SA Corporate Real Estate Fund Nominees Pty Ltd.
Aveng Ltd.
PSG Group Ltd.
Adcock Ingram Holdings Ltd.
Famous Brands Ltd.
Emira Property Fund
Assore Ltd.
Santam Ltd.
Wilson Bayly Holmes-Ovcon Ltd.
Harmony Gold Mining Co. Ltd.
Pick n Pay Holdings Ltd.
Lewis Group Ltd.
Mpact Ltd.
Illovo Sugar Ltd.
Astral Foods Ltd.
ArcelorMittal South Africa Ltd.
Metair Investments Ltd.
City Lodge Hotels Ltd.
Blue Label Telecoms Ltd.
Group Five Ltd.
Fountainhead Property Trust
Adcorp Holdings Ltd.
Peregrine Holdings Ltd.
67
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
349,835
127,327
856,818
872,733
161,050
197,538
2,351,430
736,208
2,425,801
7,114,792
7,766,579
625,859
2,279,068
1,855
1,790
1,735
1,557
1,478
1,359
1,103
812
667
660
218
73
___________4
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*
*
*
^
*,^
*,^
Royal Bafokeng Platinum Ltd.
Cashbuild Ltd.
Raubex Group Ltd.
Clover Industries Ltd.
Invicta Holdings Ltd.
Oceana Group Ltd.
Eqstra Holdings Ltd.
Pinnacle Holdings Ltd.
DRDGOLD Ltd.
Merafe Resources Ltd.
African Bank Investments Ltd.
Ellies Holdings Ltd.
Great Basin Gold Ltd.
2,151,145
South Korea (3.1%)
Samsung Electronics Co. Ltd.
*
SK Hynix Inc.
Hyundai Motor Co.
NAVER Corp.
Shinhan Financial Group Co. Ltd.
POSCO
Hyundai Mobis Co. Ltd.
Kia Motors Corp.
KB Financial Group Inc.
KT&G Corp.
Samsung Fire & Marine Insurance Co. Ltd.
Hana Financial Group Inc.
Samsung C&T Corp.
LG Chem Ltd.
2
Samsung Electronics Co. Ltd. GDR
SK Telecom Co. Ltd.
Samsung Life Insurance Co. Ltd.
Amorepacific Corp.
*
LG Display Co. Ltd.
LG Electronics Inc.
Korea Electric Power Corp.
Samsung SDI Co. Ltd.
LG Household & Health Care Ltd.
LG Corp.
SK Innovation Co. Ltd.
SK C&C Co. Ltd.
*
Korea Electric Power Corp. ADR
POSCO ADR
^
Daum Communications Corp.
*
Shinhan Financial Group Co. Ltd. ADR
Samsung Heavy Industries Co. Ltd.
Coway Co. Ltd.
Hyundai Steel Co.
Hyundai Heavy Industries Co. Ltd.
SK Holdings Co. Ltd.
Korea Zinc Co. Ltd.
Hyundai Glovis Co. Ltd.
E-Mart Co. Ltd.
Hankook Tire Co. Ltd.
Kangwon Land Inc.
BS Financial Group Inc.
Hotel Shilla Co. Ltd.
AMOREPACIFIC Group
Woori Finance Holdings Co. Ltd.
Industrial Bank of Korea
Hyundai Engineering & Construction Co. Ltd.
Lotte Shopping Co. Ltd.
KCC Corp.
Orion Corp.
636,046
3,376,109
971,979
172,404
2,282,704
368,341
425,070
1,638,208
2,004,126
765,689
246,214
1,852,046
786,882
276,563
88,799
185,718
399,223
19,979
1,426,866
683,906
944,769
348,489
59,381
568,380
385,891
138,910
1,364,520
406,691
204,574
605,671
1,123,624
351,563
418,929
278,543
162,841
67,093
99,689
132,020
471,710
716,689
1,430,200
227,467
19,171
1,884,265
1,428,165
456,037
71,892
33,438
23,347
68
736,832
155,531
155,019
121,135
107,494
105,872
101,325
79,920
78,501
68,053
66,350
63,967
53,288
51,459
51,110
46,580
43,565
43,014
42,680
41,820
41,207
41,155
34,668
33,841
31,497
31,492
29,828
29,103
28,668
28,509
27,415
26,746
26,723
25,884
25,387
25,242
24,792
24,524
24,285
23,483
22,229
21,866
21,228
21,182
20,937
20,742
19,953
18,531
18,029
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
585,316
308,511
446,036
47,157
381,284
97,319
355,593
409,164
396,919
91,909
1,361,173
254,380
92,439
92,499
99,644
321,558
1,186,264
315,865
171,009
188,902
774,793
187,697
89,794
1,382,189
375,300
600,540
385,330
265,076
114,891
963,686
306,094
5,242
134,840
934,001
216,736
208,634
154,233
49,781
285,152
334,344
547,732
840,222
176,796
49,748
43,982
44,967
111,025
40,979
250,311
1,243,389
694,791
282,033
89,910
269,358
447,300
306,412
152,526
379,754
603,555
180,811
112,096
26,537
77,417
3,799
17,972
17,296
17,262
17,257
17,076
16,749
16,150
16,076
15,011
14,988
13,980
12,885
12,880
12,737
12,600
12,478
12,455
12,215
11,422
11,415
11,062
10,829
10,721
10,616
10,430
10,297
10,189
10,056
9,907
9,883
9,571
9,425
9,371
9,353
9,331
9,328
9,175
9,101
9,037
8,580
8,548
8,503
8,295
8,218
8,174
8,127
8,018
7,726
7,648
7,630
7,620
7,355
7,119
7,093
6,857
6,730
6,537
6,491
6,442
6,425
6,403
6,204
6,125
6,052
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
^
^
^
^
^
*
^
*,^
*
*
*,^
^
*
^
*
*,^
^
*
^
*
^
^
*,^
KT Corp.
Dongbu Insurance Co. Ltd.
KB Financial Group Inc. ADR
CJ CheilJedang Corp.
Samsung Securities Co. Ltd.
Hyundai Wia Corp.
Samsung Electro-Mechanics Co. Ltd.
Celltrion Inc.
Hyundai Development Co-Engineering & Construction
CJ Corp.
LG Uplus Corp.
Korea Investment Holdings Co. Ltd.
Lotte Chemical Corp.
NCSoft Corp.
Hyundai Department Store Co. Ltd.
GS Holdings Corp.
Daewoo Securities Co. Ltd.
Korea Aerospace Industries Ltd.
Daelim Industrial Co. Ltd.
Youngone Corp.
DGB Financial Group Inc.
Samsung Engineering Co. Ltd.
Hanssem Co. Ltd.
Hanwha Life Insurance Co. Ltd.
SK Telecom Co. Ltd. ADR
Daewoo Shipbuilding & Marine Engineering Co. Ltd.
Hyundai Marine & Fire Insurance Co. Ltd.
S-Oil Corp.
OCI Co. Ltd.
SK Networks Co. Ltd.
Paradise Co. Ltd.
Lotte Confectionery Co. Ltd.
S-1 Corp.
Kumho Tire Co. Inc.
Samsung Card Co. Ltd.
Halla Visteon Climate Control Corp.
Hyosung Corp.
Com2uSCorp
Daewoo International Corp.
Hanwha Corp.
Cheil Worldwide Inc.
Doosan Infracore Co. Ltd.
Korea Gas Corp.
Yuhan Corp.
Shinsegae Co. Ltd.
CJ Korea Express Co. Ltd.
Kumho Petrochemical Co. Ltd.
Mando Corp.
Samsung Techwin Co. Ltd.
Daewoo Engineering & Construction Co. Ltd.
Woori Investment & Securities Co. Ltd.
LIG Insurance Co. Ltd.
LG Innotek Co. Ltd.
GS Engineering & Construction Corp.
KT Corp. ADR
Doosan Heavy Industries & Construction Co. Ltd.
Mirae Asset Securities Co. Ltd.
Hyundai Greenfood Co. Ltd.
Korean Reinsurance Co.
Korean Air Lines Co. Ltd.
SK Chemicals Co. Ltd.
Medy-Tox Inc.
NHN Entertainment Corp.
Lotte Chilsung Beverage Co. Ltd.
69
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
107,674
56,347
99,008
37,631
500,983
52,958
107,419
51,024
20,882
133,410
101,700
19,288
57,063
436,381
75,135
36,299
86,190
63,995
698,572
3,858
35,092
350,558
1,072,995
175,156
8,153
216,507
117,650
236,723
651,861
19,962
80,195
76,986
897,078
37,994
121,673
30,029
179,567
152,270
3,350
308,442
116,298
57,778
75,304
59,085
35,685
144,070
103,712
82,935
5,548
26,360
50,164
51,286
159,737
58,004
157,142
121,400
658,999
22,034
108,920
138,761
70,038
38,425
206,050
37,102
6,020
5,855
5,848
5,706
5,703
5,570
5,474
5,282
5,222
5,190
4,990
4,734
4,685
4,677
4,649
4,611
4,589
4,551
4,517
4,512
4,500
4,435
4,367
4,337
4,320
4,266
4,196
4,069
4,028
4,023
3,907
3,861
3,861
3,845
3,824
3,799
3,786
3,758
3,722
3,695
3,664
3,651
3,647
3,590
3,584
3,555
3,545
3,530
3,461
3,445
3,363
3,341
3,239
3,194
3,186
3,144
3,117
3,115
3,039
3,020
2,976
2,974
2,974
2,973
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
^
^
^
*,^
^
*,^
^
*,^
^
^
^
^
^
*
*,^
*
*,^
^
^
*
^
^
^
^
^
*,^
*,^
^
^
^
*,^
LS Corp.
Doosan Corp.
LS Industrial Systems Co. Ltd.
LG Hausys Ltd.
Hanwha Chemical Corp.
Fila Korea Ltd.
Kolon Industries Inc.
Eo Technics Co. Ltd.
NongShim Co. Ltd.
Daesang Corp.
CJ CGV Co. Ltd.
CJ O Shopping Co. Ltd.
KEPCO Plant Service & Engineering Co. Ltd.
Hyundai Merchant Marine Co. Ltd.
LOTTE Himart Co. Ltd.
Hyundai Home Shopping Network Corp.
Naturalendo Tech Co. Ltd.
Hyundai Mipo Dockyard Co. Ltd.
Hyundai Securities Co. Ltd.
Taekwang Industrial Co. Ltd.
Green Cross Corp.
Wonik IPS Co. Ltd.
Meritz Securities Co. Ltd.
Hite Jinro Co. Ltd.
Ottogi Corp.
Dongsuh Co. Inc.
Grand Korea Leisure Co. Ltd.
Seoul Semiconductor Co. Ltd.
JB Financial Group Co. Ltd.
GS Home Shopping Inc.
Korea Kolmar Co. Ltd.
Hanjin Transportation Co. Ltd.
SK Broadband Co. Ltd.
Cosmax Inc.
CJ E&M Corp.
Gamevil Inc.
Green Cross Holdings Corp.
Poongsan Corp.
Young Poong Corp.
Meritz Fire & Marine Insurance Co. Ltd.
LF Corp.
Hana Tour Service Inc.
ViroMed Co. Ltd.
KEPCO Engineering & Construction Co. Inc.
Youngone Holdings Co. Ltd.
iMarketKorea Inc.
Hansae Co. Ltd.
SFA Engineering Corp.
Lotte Food Co. Ltd.
Hanil Cement Co. Ltd.
Chong Kun Dang Pharmaceutical Corp.
Hyundai Hysco Co. Ltd.
Hankook Tire Worldwide Co. Ltd.
Seegene Inc.
LG International Corp.
SKC Co. Ltd.
Hanjin Shipping Co. Ltd.
Samchully Co. Ltd.
Samsung Fine Chemicals Co. Ltd.
Huchems Fine Chemical Corp.
KIWOOM Securities Co. Ltd.
Binggrae Co. Ltd.
Sungwoo Hitech Co. Ltd.
Hanmi Pharm Co. Ltd.
70
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
34,668
81,806
293,036
55,080
200,063
137,686
421,424
221,108
78,933
172,919
64,262
270,560
145,286
61,282
81,713
94,382
85,292
8,252
37,560
210,296
244,392
249,922
55,186
56,743
210,289
17,222
15,978
25,348
93,857
644,140
85,966
258,216
85,669
73,973
69,591
245,003
546,970
94,254
106,863
78,228
228,994
29,543
374,563
661,630
40,367
318,442
25,685
329,681
2,924
209,931
51,957
88,889
260,634
81,815
12,406
3,759
91,937
139,132
90,550
120,383
51,233
174,258
44,340
154,070
2,890
2,880
2,842
2,840
2,759
2,747
2,739
2,712
2,706
2,691
2,668
2,622
2,620
2,597
2,585
2,574
2,561
2,535
2,493
2,461
2,347
2,321
2,320
2,314
2,283
2,254
2,198
2,188
2,185
2,174
2,158
2,130
2,127
2,110
2,082
2,082
2,056
2,040
1,996
1,978
1,940
1,925
1,910
1,895
1,894
1,890
1,889
1,880
1,871
1,853
1,847
1,797
1,772
1,764
1,731
1,716
1,695
1,674
1,672
1,658
1,622
1,619
1,607
1,602
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*,^
*
*,^
*,^
^
*
*,^
^
*
*,^
^
*
^
*,^
*
^
*,^
^
*,^
*,^
^
*
^
^
*
^
*,^
^
*,^
*,^
*,^
*,^
*
*
^
*,^
Samyang Holdings Corp.
LG Life Sciences Ltd.
Ssangyong Cement Industrial Co. Ltd.
Korea Electric Terminal Co. Ltd.
Chabiotech Co. Ltd.
Hyundai Rotem Co. Ltd.
Hyundai Securities Co. Ltd. Preference Shares
Nexen Tire Corp.
Hyundai Corp.
Kolao Holdings
Osstem Implant Co. Ltd.
Kwang Dong Pharmaceutical Co. Ltd.
GemVax & Kael Co. Ltd.
YG Entertainment Inc.
Muhak Co. Ltd.
SM Entertainment Co.
Handsome Co. Ltd.
Dongwon Industries Co. Ltd.
Halla Holdings Corp.
Kyongnam Bank
Daishin Securities Co. Ltd.
Hansol Paper Co.
Hyundai Elevator Co. Ltd.
KONA I Co. Ltd.
Tongyang Life Insurance
SK Gas Ltd.
Dong-A Socio Holdings Co. Ltd.
Dong-A ST Co. Ltd.
GS Retail Co. Ltd.
Pan Ocean Co. Ltd.
Golfzon Co. Ltd.
Partron Co. Ltd.
Hanjin Kal Corp.
Korea Line Corp.
Seah Besteel Corp.
Interpark Corp.
Asiana Airlines Inc.
Hancom Inc.
Bukwang Pharmaceutical Co. Ltd.
Ilyang Pharmaceutical Co. Ltd.
Daeduck Electronics Co.
Daewoong Pharmaceutical Co. Ltd.
Hanwha General Insurance Co. Ltd.
Yuanta Securities Korea
Medipost Co. Ltd.
Dongkuk Steel Mill Co. Ltd.
Chongkundang Holdings Corp.
Posco ICT Co. Ltd.
Namyang Dairy Products Co. Ltd.
Meritz Financial Group Inc.
WeMade Entertainment Co. Ltd.
Seobu T&D
Ssangyong Motor Co.
Neowiz Games Corp.
POSCO Chemtech Co. Ltd.
Hankook Shell Oil Co. Ltd.
SL Corp.
Toray Chemical Korea Inc.
KT Skylife Co. Ltd.
Hanmi Science Co. ltd
Maeil Dairy Industry Co. Ltd.
Komipharm International Co. Ltd.
S&T Motiv Co. Ltd.
Daou Technology Inc.
71
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
94,696
165,203
104,583
31,499
22,337
345,676
107,096
1,579,025
182,329
135,088
19,553
187,630
16,737
50,184
26,339
6,656
242,423
36,178
24,176
56,469
53,527
291,250
107,346
84,891
97,712
42,591
96,635
316,561
527,450
120,448
128,790
73,865
118,990
136,869
144,461
262,928
116,041
100,460
147,681
86,305
54,225
182,712
25,673
258,839
155,564
76,108
30,530
309,713
107,220
256,028
62,700
9,831
313,918
39,516
106,422
84,690
38,558
46,396
144,289
176,490
51,820
34,275
280,023
149,183
1,588
1,585
1,513
1,502
1,479
1,401
1,392
1,379
1,370
1,365
1,323
1,308
1,297
1,289
1,259
1,245
1,245
1,219
1,213
1,212
1,172
1,157
1,146
1,097
1,075
1,075
981
975
966
952
945
944
941
933
929
924
896
859
851
846
843
818
802
791
780
766
736
721
707
705
693
637
633
631
621
567
550
543
537
517
504
501
472
458
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*,^
*
*
*,^
^
^
*,^
^
^
^
^
^
*,^
*,^
*
^
*,^
*
*
^
^
*,^
*,^
*,^
*,^
*,^
*,^
*,^
*,^
*,^
^
^
^
*,^
*
*
*,^
Hanil E-Hwa Co. Ltd.
CJ Hellovision Co. Ltd.
Sung Kwang Bend Co. Ltd.
OCI Materials Co. Ltd.
Sindoh Co. Ltd.
Hanjin Heavy Industries & Construction Co. Ltd.
Kyobo Securities Co. Ltd.
SK Securities Co. Ltd.
NH Investment & Securities Co. Ltd.
Kwangju Bank
E1 Corp.
Daekyo Co. Ltd.
SeAH Steel Corp.
Soulbrain Co. Ltd.
Cosmax BTI Inc
Dae Han Flour Mills Co. Ltd.
Lumens Co. Ltd.
Ahnlab Inc.
MegaStudy Co. Ltd.
Able C&C Co. Ltd.
Silicon Works Co. Ltd.
Taeyoung Engineering & Construction Co. Ltd.
Lock&Lock Co. Ltd.
TK Corp.
Hansol Technics Co. Ltd.
Green Cross Cell Corp.
Daeduck GDS Co. Ltd.
SBS Media Holdings Co. Ltd.
Taihan Electric Wire Co. Ltd.
S&T Dynamics Co. Ltd.
Dongyang Mechatronics Corp.
Youlchon Chemical Co. Ltd.
Namhae Chemical Corp.
Woongjin Thinkbig Co. Ltd.
Daishin Securities Co. Ltd. Preference Shares
Hanwha Investment & Securities Co. Ltd.
Agabang&Company
Hanjin Heavy Industries & Construction Holdings Co. Ltd.
Doosan Engine Co. Ltd.
Humax Co. Ltd.
Taewoong Co. Ltd.
Pharmicell Co. Ltd.
KISCO Corp.
STS Semiconductor & Telecommunications
Dongbu HiTek Co. Ltd.
Duksan Hi-Metal Co. Ltd.
Kolon Corp.
Foosung Co. Ltd.
DuzonBIzon Co. Ltd.
3S Korea Co. Ltd.
Sam Young Electronics Co. Ltd.
Samyang Corp.
KTB Investment & Securities Co. Ltd.
Kumho Electric Co. Ltd.
NEPES Corp.
Iljin Display Co. Ltd.
Seoyeon Co. Ltd.
Hitejinro Holdings Co. Ltd.
Dongbu Securities Co. Ltd.
Jusung Engineering Co. Ltd.
Hanjin Shipping Holdings Co. Ltd.
INTOPS Co. Ltd.
Eugene Investment & Securities Co. Ltd.
Insun ENT Co. Ltd.
72
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
43,045
78,007
407,211
25,123
68,842
259,916
312,022
243,082
64,559
98,950
80,200
254,110
205,940
853
836,893
452
448
447
444
424
420
410
393
320
264
263
257
255
154
___________9
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*,^
*
*,^
^
*,^
*,^
*,^
*,^
^
*,^
*,^
*,^
*
Interflex Co. Ltd.
ICD Co. Ltd.
CUROCOM Co. Ltd.
EG Corp.
SK Communications Co. Ltd.
CNK International Co. Ltd.
Woongjin Energy Co. Ltd.
Dongbu Steel Co. Ltd.
Melfas Inc.
Capro Corp.
STX Engine Co. Ltd.
Shinsung Solar Energy Co. Ltd.
China Ocean Resources Co. Ltd.
Samsung SDS Co. Ltd.
Tera Resource Co. Ltd.
4,113,407
Spain (2.3%)
*
Banco Santander SA
Banco Bilbao Vizcaya Argentaria SA
Telefonica SA
Iberdrola SA
*
Inditex SA
Repsol SA
Amadeus IT Holding SA
*
CaixaBank SA
Banco de Sabadell SA
Red Electrica Corp. SA
*
Banco Popular Espanol SA
Gas Natural SDG SA
Ferrovial SA
*
Bankia SA
Abertis Infraestructuras SA
Enagas SA
Grifols SA
*
ACS Actividades de Construccion y Servicios SA
Bankinter SA
Distribuidora Internacional de Alimentacion SA
Mapfre SA
*
Jazztel plc
*
Mediaset Espana Comunicacion SA
Bolsas y Mercados Espanoles SA
*,^
Abengoa SA
Viscofan SA
Banco Santander SA ADR
Zardoya Otis SA
*
Gamesa Corp. Tecnologica SA
*
Acerinox SA
*,^
Acciona SA
^
Endesa SA
Ebro Foods SA
Tecnicas Reunidas SA
Grupo Catalana Occidente SA
Indra Sistemas SA
Prosegur Cia de Seguridad SA
*
Inmobiliaria Colonial SA
^
Obrascon Huarte Lain SA
*
Almirall SA
Corp Financiera Alba SA
*
Applus Services SA
^
Atresmedia Corp. de Medios de Comunicacion SA
*,^
Fomento de Construcciones y Contratas SA
*
Sacyr SA
^
Construcciones y Auxiliar de Ferrocarriles SA
*
NH Hotel Group SA
75,703,022
37,285,313
25,208,509
32,376,683
6,715,560
6,502,854
2,694,946
12,420,259
22,207,754
684,328
9,818,215
1,946,459
2,554,440
29,139,067
2,482,721
1,284,544
1,053,479
1,100,751
4,368,299
3,698,383
6,412,769
1,376,477
1,491,680
487,861
4,278,971
295,367
1,665,671
1,100,181
1,286,045
793,108
161,838
536,058
537,112
192,938
311,980
723,347
1,275,335
10,468,377
243,466
375,485
110,729
473,438
377,360
254,215
1,051,592
13,199
937,023
73
667,933
416,900
379,087
229,042
189,112
145,450
99,150
67,880
64,205
59,814
56,330
56,240
52,265
52,198
51,724
43,140
42,920
40,852
36,111
23,518
22,008
22,004
18,714
18,558
18,102
17,362
14,608
12,825
12,719
11,783
11,309
10,452
9,618
9,513
9,407
7,992
7,487
7,390
7,126
6,179
6,101
5,724
5,532
4,678
4,622
4,395
4,283
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
4,963,534
358,192
256,714
1,063,690
1,424,839
9,167,017
632,885
850,187
404,109
274,916
244,631
2,015,631
168,103
476,200
155,449
63,151
4,238
3,581
3,486
3,479
3,300
2,591
1,855
1,843
1,829
1,436
1,042
935
744
694
—
—
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*
*
*,^
^
^
*
*,^
*,^
*,^
*
Liberbank SA
Melia Hotels International SA
CIE Automotive SA
Zeltia SA
Faes Farma SA
Promotora de Informaciones SA
Tubos Reunidos SA
Ence Energia y Celulosa S.A
Duro Felguera SA
Papeles y Cartones de Europa SA
Tubacex SA
Deoleo SA
Abengoa SA
Realia Business SA
Let's GOWEX SA
Pescanova SA
3,095,415
Sweden (2.1%)
Nordea Bank AB
Hennes & Mauritz AB Class B
Telefonaktiebolaget LM Ericsson Class B
Swedbank AB Class A
Svenska Handelsbanken AB Class A
Skandinaviska Enskilda Banken AB Class A
Atlas Copco AB Class A
Volvo AB Class B
Assa Abloy AB Class B
Investor AB Class B
TeliaSonera AB
Svenska Cellulosa AB SCA Class B
Sandvik AB
Atlas Copco AB Class B
Hexagon AB Class B
SKF AB
Skanska AB Class B
Investment AB Kinnevik
Swedish Match AB
Alfa Laval AB
Electrolux AB Class B
Boliden AB
Getinge AB
Trelleborg AB Class B
Tele2 AB
^
Elekta AB Class B
Industrivarden AB Class A
Securitas AB Class B
ICA Gruppen AB
*
Lundin Petroleum AB
^
Meda AB Class A
Industrivarden AB
Husqvarna AB
Castellum AB
NCC AB Class B
BillerudKorsnas AB
Hexpol AB
*
Swedish Orphan Biovitrum AB
Fabege AB
Nibe Industrier AB Class B
Loomis AB Class B
Modern Times Group MTG AB Class B
*,^
SSAB AB Class A
JM AB
Axfood AB
Holmen AB
20,129,088
6,016,520
18,888,098
6,616,615
3,042,329
9,219,635
3,927,920
9,674,978
1,985,261
2,864,816
13,720,554
3,676,900
6,837,651
2,476,106
1,604,740
2,631,307
2,282,333
1,298,024
1,261,831
1,981,180
1,409,901
1,728,721
1,151,041
1,530,372
1,953,043
2,242,976
1,222,440
1,931,993
483,540
1,364,741
1,428,682
1,036,712
2,323,996
1,035,981
512,575
963,787
155,997
994,461
832,994
396,492
381,747
337,876
1,408,070
314,221
164,321
306,587
74
258,142
239,548
223,339
174,994
145,064
118,307
113,490
111,695
105,580
102,498
95,114
82,425
75,184
65,454
54,003
52,816
46,609
41,169
41,028
40,766
40,288
28,620
26,693
26,133
24,778
22,917
22,599
21,387
19,356
19,350
18,808
18,125
17,278
15,881
15,056
14,057
13,834
11,382
10,686
10,524
10,494
10,435
10,211
10,173
10,135
10,131
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
634,280
258,204
695,474
160,402
1,219,220
194,716
183,346
582,037
418,058
1,131,251
261,368
1,134,833
236,663
1,015,051
231,926
171,283
347,225
348,878
252,024
449,854
279,241
365,983
268,447
67,244
177,273
137,628
598,161
110,555
107,773
444,777
38,552
594,173
321,393
431,238
344,881
122,568
816,378
198,987
26,182
228,759
551,578
13,762
9,588
9,109
9,009
8,695
8,187
7,864
7,695
7,575
7,325
7,285
7,081
7,061
7,032
6,873
6,340
5,447
5,269
4,489
4,169
3,661
3,432
3,363
3,297
3,185
3,068
2,931
2,622
2,433
2,269
2,265
1,819
1,607
1,550
1,524
1,445
1,407
1,258
1,108
770
694
607
389
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
^
^
^
*
*
*
*
*
^
*,^
*,^
*
*,^
*,^
Wallenstam AB
Betsson AB
Hufvudstaden AB Class A
AAK AB
Ratos AB
Indutrade AB
LE Lundbergfortagen AB Class B
Fastighets AB Balder
Wihlborgs Fastigheter AB
SSAB AB Class B
Saab AB Class B
Kungsleden AB
Intrum Justitia AB
Peab AB
Axis Communications AB
Avanza Bank Holding AB
AF AB
Sanitec Corp.
Hemfosa Fastigheter AB
Nobia AB
Haldex AB
Lindab International AB
Concentric AB
Melker Schorling AB
Clas Ohlson AB
Investment AB Oresund
Rezidor Hotel Group AB
Klovern AB Preference Shares
Mekonomen AB
Klovern AB
Fastighets AB Balder Preference Shares
CDON Group AB
Sagax AB Preference Shares
Nordnet AB
Bure Equity AB
SkiStar AB
SAS AB
KappAhl AB
NCC AB Class A
Active Biotech AB
Eniro AB
Bilia AB
2,829,353
Switzerland (6.0%)
Nestle SA
Novartis AG
Roche Holding AG
UBS AG
ABB Ltd.
Zurich Insurance Group AG
Cie Financiere Richemont SA
Credit Suisse Group AG
Syngenta AG
Swiss Re AG
Holcim Ltd.
Givaudan SA
Swatch Group AG (Bearer)
Swisscom AG
Geberit AG
Actelion Ltd.
Adecco SA
SGS SA
^
Transocean Ltd.
Julius Baer Group Ltd.
20,219,307
14,765,472
4,455,020
22,358,926
14,527,007
935,216
3,238,607
10,122,489
581,640
2,169,534
1,445,010
58,599
192,146
144,396
238,370
613,626
1,051,192
32,402
2,188,591
1,385,369
75
1,480,270
1,369,409
1,315,819
388,600
318,566
283,038
272,874
269,631
180,258
175,454
102,464
97,776
91,094
85,108
81,332
72,850
71,225
71,200
65,236
60,698
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
328,527
13,330
185,444
319,392
280,311
646
453,019
297,064
329,052
112,871
5,973
1,706,903
202,155
350,022
30,803
302,611
251,041
38,187
132,732
1,033,794
147,467
45,999
72,083
25,979
179,141
1,091,501
735,018
358,667
12,189
896,402
19,468
49,296
161,755
23,988
87,672
40,292
17,947
259,764
8,479
99,233
19,901
60,134
39,191
70,990
202,199
129,603
2,946
29,386
76,275
29,151
32,143
13,888
29,884
17,803
89,744
561,017
13,380
94,200
35,262
5,963
3,172,667
17,825
162,281
221,258
51,237
47,635
42,554
41,616
39,222
38,736
38,538
37,396
36,296
30,031
29,970
29,779
29,100
26,593
26,348
25,580
21,535
18,145
17,970
17,644
16,792
16,559
15,231
14,992
13,934
13,801
12,995
12,846
12,766
12,699
12,406
12,145
11,956
11,436
11,351
10,232
9,614
9,060
8,802
8,679
8,526
7,958
7,723
7,488
7,349
7,318
7,306
6,409
6,312
5,378
5,055
5,023
4,979
4,852
4,837
4,725
4,718
4,648
4,468
4,303
3,831
3,692
3,655
3,247
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*,^
*
Sonova Holding AG
Sika AG
Swiss Life Holding AG
Kuehne & Nagel International AG
Schindler Holding AG
Chocoladefabriken Lindt & Sprungli AG
Aryzta AG
Baloise Holding AG
Lonza Group AG
Partners Group Holding AG
Chocoladefabriken Lindt & Sprungli AG
Clariant AG
Dufry AG
Swiss Prime Site AG
Galenica AG
Swatch Group AG (Registered)
PSP Swiss Property AG
Helvetia Holding AG
Schindler Holding AG (Registered)
GAM Holding AG
Sulzer AG
EMS-Chemie Holding AG
BB Biotech AG
Georg Fischer AG
Pargesa Holding SA
OC Oerlikon Corp. AG
Nobel Biocare Holding AG
ams AG
Barry Callebaut AG
Logitech International SA
Flughafen Zuerich AG
Straumann Holding AG
DKSH Holding AG
Kaba Holding AG Class B
Panalpina Welttransport Holding AG
Bucher Industries AG
Banque Cantonale Vaudoise
Temenos Group AG
Forbo Holding AG
Valiant Holding AG
Burckhardt Compression Holding AG
Allreal Holding AG
Mobimo Holding AG
Tecan Group AG
Vontobel Holding AG
Cembra Money Bank AG
Belimo Holding AG
Leonteq AG
Aryzta AG
Rieter Holding AG
Cosmo Pharmaceuticals SPA
St. Galler Kantonalbank AG
Autoneum Holding AG
Kuoni Reisen Holding AG
Implenia AG
Meyer Burger Technology AG
Emmi AG
Huber & Suhner AG
Daetwyler Holding AG
Schweiter Technologies AG
Schmolz & Bickenbach AG
Valora Holding AG
Gategroup Holding AG
Ascom Holding AG
76
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
220,357
16,922
111,497
245,533
63,190
63,540
1,427
26,306
14,881
32,241
61,501
62,941
21,651
17,426
12,361
58,894
14,852
359,027
10,128
2,810
2,793
2,719
2,552
2,534
2,498
2,435
2,393
2,289
2,149
1,919
1,893
1,796
1,754
1,031
1,028
755
518
454
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*
*
Kudelski SA
VZ Holding AG
AFG Arbonia-Forster Holding AG
EFG International AG
Liechtensteinische Landesbank AG
Zehnder Group AG
Vetropack Holding AG
Basilea Pharmaceutica
Siegfried Holding AG
Basler Kantonalbank
Swissquote Group Holding SA
BKW AG
VP Bank AG
Alpiq Holding AG
Schweizerische National-Versicherungs-Gesellschaft AG
Orascom Development Holding AG
Bachem Holding AG
Von Roll Holding AG
Cie Financiere Tradition SA
7,917,243
Taiwan (3.0%)
Taiwan Semiconductor Manufacturing Co. Ltd.
Hon Hai Precision Industry Co. Ltd.
MediaTek Inc.
Taiwan Semiconductor Manufacturing Co. Ltd. ADR
Cathay Financial Holding Co. Ltd.
Delta Electronics Inc.
Fubon Financial Holding Co. Ltd.
Nan Ya Plastics Corp.
Formosa Plastics Corp.
China Steel Corp.
CTBC Financial Holding Co. Ltd.
Formosa Chemicals & Fibre Corp.
Mega Financial Holding Co. Ltd.
Chunghwa Telecom Co. Ltd.
Uni-President Enterprises Corp.
Asustek Computer Inc.
Largan Precision Co. Ltd.
Quanta Computer Inc.
Catcher Technology Co. Ltd.
Hotai Motor Co. Ltd.
Taiwan Mobile Co. Ltd.
Advanced Semiconductor Engineering Inc.
Yuanta Financial Holding Co. Ltd.
Taiwan Cement Corp.
China Development Financial Holding Corp.
First Financial Holding Co. Ltd.
Formosa Petrochemical Corp.
Cheng Shin Rubber Industry Co. Ltd.
E.Sun Financial Holding Co. Ltd.
President Chain Store Corp.
Innolux Corp.
Far Eastern New Century Corp.
Hua Nan Financial Holdings Co. Ltd.
*
Inotera Memories Inc.
Taishin Financial Holding Co. Ltd.
United Microelectronics Corp.
SinoPac Financial Holdings Co. Ltd.
Far EasTone Telecommunications Co. Ltd.
Chunghwa Telecom Co. Ltd. ADR
*
HTC Corp.
Taiwan Cooperative Financial Holding Co. Ltd.
Compal Electronics Inc.
Pegatron Corp.
131,752,063
80,465,511
9,245,807
4,026,682
50,333,012
12,856,240
46,068,018
36,205,907
31,079,091
78,821,848
93,904,515
27,873,645
63,271,873
16,985,456
29,469,274
4,526,168
638,376
16,778,950
4,579,800
2,595,000
10,631,400
26,230,201
62,332,825
20,350,700
89,616,856
46,295,082
12,042,950
11,754,828
42,252,683
3,548,536
58,187,024
25,001,693
44,250,531
16,105,002
51,918,407
54,889,175
54,674,694
10,123,000
716,636
4,763,792
39,155,042
26,438,689
10,720,639
77
568,699
254,651
135,275
88,668
83,233
78,732
78,053
75,279
72,182
67,968
65,873
65,647
52,488
51,767
50,825
46,231
44,972
42,226
38,811
38,145
34,502
31,525
31,408
31,127
28,813
28,496
28,411
27,471
26,765
26,647
26,592
26,293
26,219
24,911
24,796
24,297
23,753
22,412
21,743
21,570
20,944
19,630
19,596
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
14,773,567
13,526,426
16,849,517
3,628,275
6,713,705
356,509
19,082,382
2,594,567
6,361,510
14,880,049
2,144,851
1,790,319
2,012,555
29,157,640
19,473,315
43,275,811
11,566,000
20,357,267
8,883,000
2,619,026
1,235,011
16,867,297
8,229,463
9,390,553
1,589,232
1,361,298
3,522,883
2,974,215
2,785,948
5,377,179
4,460,340
1,575,695
4,189,136
5,284,600
1,846,443
5,547,304
4,633,000
5,499,015
3,906,838
5,034,000
4,468,955
2,638,355
3,849,000
4,272,000
3,954,796
6,418,000
20,865,000
22,875,905
8,454,747
6,457,000
8,430,750
853,600
7,008,977
1,673,000
10,632,979
3,976,407
10,164,848
1,790,363
10,218,290
3,107,023
14,495,646
17,392,000
7,052,000
820,510
19,064
19,009
18,950
18,816
17,921
17,282
16,656
16,008
15,709
15,703
14,963
14,505
14,350
13,883
13,551
13,153
12,893
12,832
12,703
12,545
11,744
11,615
11,592
11,442
10,996
10,780
10,143
9,884
9,784
9,752
9,530
9,296
9,174
9,158
9,018
8,280
8,220
8,119
7,975
7,575
7,531
7,251
7,110
7,087
7,072
7,021
6,939
6,883
6,554
6,533
6,496
6,366
6,334
6,318
6,286
6,201
6,096
6,058
5,992
5,815
5,676
5,588
5,584
5,563
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
Asia Cement Corp.
Lite-On Technology Corp.
Pou Chen Corp.
Novatek Microelectronics Corp.
Foxconn Technology Co. Ltd.
Hermes Microvision Inc.
China Life Insurance Co. Ltd.
Advanced Semiconductor Engineering Inc. ADR
Chailease Holding Co. Ltd.
Wistron Corp.
Advantech Co. Ltd.
Giant Manufacturing Co. Ltd.
Siliconware Precision Industries Co. ADR
AU Optronics Corp.
Inventec Corp.
Shin Kong Financial Holding Co. Ltd.
Teco Electric and Machinery Co. Ltd.
Chang Hwa Commercial Bank Ltd.
Siliconware Precision Industries Co.
AU Optronics Corp. ADR
Eclat Textile Co. Ltd.
Acer Inc.
Synnex Technology International Corp.
WPG Holdings Ltd.
Merida Industry Co. Ltd.
Hiwin Technologies Corp.
Chicony Electronics Co. Ltd.
Realtek Semiconductor Corp.
Radiant Opto-Electronics Corp.
Epistar Corp.
Ruentex Industries Ltd.
TPK Holding Co. Ltd.
United Microelectronics Corp. ADR
Highwealth Construction Corp.
Simplo Technology Co. Ltd.
Ruentex Development Co. Ltd.
Taiwan Fertilizer Co. Ltd.
Yulon Motor Co. Ltd.
Kenda Rubber Industrial Co. Ltd.
Vanguard International Semiconductor Corp.
Powertech Technology Inc.
Zhen Ding Technology Holding Ltd.
Chipbond Technology Corp.
CTCI Corp.
Clevo Co.
King's Town Bank Co. Ltd.
Walsin Lihwa Corp.
Taiwan Business Bank
Taiwan Glass Industry Corp.
Formosa Taffeta Co. Ltd.
Unimicron Technology Corp.
Airtac International Group
Far Eastern Department Stores Ltd.
Kinsus Interconnect Technology Corp.
Evergreen Marine Corp. Taiwan Ltd.
Yageo Corp.
Asia Pacific Telecom Co. Ltd.
Transcend Information Inc.
Eva Airways Corp.
Tripod Technology Corp.
China Airlines Ltd.
Winbond Electronics Corp.
King Yuan Electronics Co. Ltd.
Phison Electronics Corp.
78
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
2,215,800
2,326,967
1,036,691
408,000
4,305,000
959,000
5,194,001
7,032,325
3,340,428
4,522,626
4,696,209
22,709,878
2,300,000
289,000
3,323,000
1,111,000
1,827,920
442,000
1,854,011
14,884,647
2,406,497
13,698,175
1,085,976
2,759,000
12,446,090
865,105
409,979
9,061,553
669,000
5,182,842
4,440,000
299,000
15,956,060
4,429,000
7,194,193
2,370,485
8,625,880
11,540,707
392,015
2,422,000
1,058,879
370,455
6,938,000
1,294,000
4,265,540
13,008,738
381,805
8,288,000
2,890,000
1,583,293
2,827,000
4,617,700
9,803,451
3,011,000
2,151,000
12,929,491
3,621,831
892,259
8,037,515
9,217,830
1,595,318
3,549,920
2,000,215
468,222
5,527
5,501
5,428
5,365
5,276
5,228
5,220
5,204
5,181
5,160
5,153
5,116
5,112
5,093
4,991
4,912
4,847
4,795
4,792
4,712
4,568
4,425
4,394
4,323
4,197
4,178
4,174
4,149
4,127
4,113
4,047
4,028
4,023
4,005
4,000
3,960
3,875
3,873
3,861
3,856
3,843
3,839
3,834
3,834
3,778
3,694
3,645
3,623
3,589
3,570
3,561
3,520
3,494
3,467
3,460
3,451
3,439
3,410
3,349
3,283
3,271
3,221
3,196
3,163
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
Chroma ATE Inc.
Standard Foods Corp.
Makalot Industrial Co. Ltd.
King Slide Works Co. Ltd.
Micro-Star International Co. Ltd.
China Steel Chemical Corp.
Eternal Materials Co. Ltd.
Wan Hai Lines Ltd.
Sino-American Silicon Products Inc.
TSRC Corp.
Nan Kang Rubber Tire Co. Ltd.
Macronix International
Yungtay Engineering Co. Ltd.
St. Shine Optical Co. Ltd.
Coretronic Corp.
MIN AIK Technology Co. Ltd.
Taiwan Secom Co. Ltd.
eMemory Technology Inc.
Feng TAY Enterprise Co. Ltd.
China Petrochemical Development Corp.
Everlight Electronics Co. Ltd.
Capital Securities Corp.
Merry Electronics Co. Ltd.
U-Ming Marine Transport Corp.
Far Eastern International Bank
Richtek Technology Corp.
PChome Online Inc.
Yang Ming Marine Transport Corp.
Casetek Holdings Ltd.
Tung Ho Steel Enterprise Corp.
China Motor Corp.
Ginko International Co. Ltd.
HannStar Display Corp.
Win Semiconductors Corp.
Tainan Spinning Co. Ltd.
Cheng Uei Precision Industry Co. Ltd.
Qisda Corp.
Taichung Commercial Bank Co. Ltd.
Wowprime Corp.
Elan Microelectronics Corp.
Firich Enterprises Co. Ltd.
Formosa International Hotels Corp.
Compeq Manufacturing Co. Ltd.
Lung Yen Life Service Corp.
Sanyang Industry Co. Ltd.
Tatung Co. Ltd.
Parade Technologies Ltd.
Kinpo Electronics
Feng Hsin Iron & Steel Co.
Wistron NeWeb Corp.
Kerry TJ Logistics Co. Ltd.
Oriental Union Chemical Corp.
Shinkong Synthetic Fibers Corp.
Gigabyte Technology Co. Ltd.
Chin-Poon Industrial Co. Ltd.
Jih Sun Financial Holdings Co. Ltd.
Neo Solar Power Corp.
Tong Hsing Electronic Industries Ltd.
YFY Inc.
Goldsun Development & Construction Co. Ltd.
ScinoPharm Taiwan Ltd.
Great Wall Enterprise Co. Ltd.
WT Microelectronics Co. Ltd.
Poya Co. Ltd.
79
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
850,000
1,351,000
2,914,000
2,745,000
688,032
2,905,126
5,657,000
1,126,468
5,575,926
354,000
8,483,659
2,469,000
4,552,850
4,792,716
657,000
3,543,997
4,451,500
4,676,515
1,267,804
7,139,559
5,585,000
5,479,105
1,605,629
5,383,000
151,600
1,781,684
1,534,087
2,291,110
1,338,780
5,690,600
3,830,767
4,419,733
693,775
6,677,000
1,977,100
1,659,153
308,000
1,340,087
2,100,000
1,885,950
782,000
1,149,968
2,958,792
15,787,000
515,000
1,868,000
1,263,000
1,885,500
1,234,000
1,900,000
1,767,000
2,647,000
1,584,300
1,770,979
345,000
2,488,097
895,000
1,425,000
2,154,815
8,191,000
3,498,380
4,346,288
2,156,000
1,752,965
3,079
3,017
3,013
2,997
2,994
2,968
2,949
2,930
2,920
2,856
2,818
2,796
2,773
2,765
2,746
2,743
2,738
2,693
2,686
2,680
2,679
2,638
2,632
2,627
2,577
2,533
2,523
2,515
2,508
2,491
2,490
2,483
2,481
2,456
2,456
2,450
2,425
2,420
2,417
2,415
2,375
2,366
2,332
2,328
2,309
2,283
2,262
2,259
2,245
2,224
2,216
2,213
2,208
2,202
2,197
2,187
2,182
2,170
2,135
2,134
2,115
2,114
2,069
2,067
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
Depo Auto Parts Ind Co. Ltd.
Sercomm Corp.
China Synthetic Rubber Corp.
Formosan Rubber Group Inc.
Medigen Biotechnology Corp.
Tong Yang Industry Co. Ltd.
Cathay Real Estate Development Co. Ltd.
San Shing Fastech Corp.
President Securities Corp.
PharmaEngine Inc.
Ta Chong Bank Ltd.
AcBel Polytech Inc.
Ton Yi Industrial Corp.
AmTRAN Technology Co. Ltd.
Grape King Bio Ltd.
Mitac Holdings Corp.
TA Chen Stainless Pipe
Radium Life Tech Co. Ltd.
FLEXium Interconnect Inc.
Prince Housing & Development Corp.
Grand Pacific Petrochemical
USI Corp.
Taiwan Hon Chuan Enterprise Co. Ltd.
E Ink Holdings Inc.
Gigasolar Materials Corp.
Taiwan Surface Mounting Technology Co. Ltd.
Huaku Development Co. Ltd.
Faraday Technology Corp.
TTY Biopharm Co. Ltd.
Cheng Loong Corp.
Lien Hwa Industrial Corp.
Mercuries Life Insurance Co. Ltd.
Flytech Technology Co. Ltd.
China Bills Finance Corp.
Motech Industries Inc.
Taiwan PCB Techvest Co. Ltd.
TWi Pharmaceuticals Inc.
A-DATA Technology Co. Ltd.
Career Technology MFG. Co. Ltd.
Taiwan Sogo Shin Kong SEC
Center Laboratories Inc.
Chong Hong Construction Co. Ltd.
Ardentec Corp.
CMC Magnetics Corp.
Cleanaway Co. Ltd.
Primax Electronics Ltd.
Hota Industrial Manufacturing Co. Ltd.
Hey Song Corp.
YungShin Global Holding Corp.
Taigen Biopharmaceuticals Holdings Ltd.
Greatek Electronics Inc.
Wei Chuan Foods Corp.
Taiwan Paiho Ltd.
TXC Corp.
Gourmet Master Co. Ltd.
Universal Cement Corp.
Dynapack International Technology Corp.
Elite Semiconductor Memory Technology Inc.
Farglory Land Development Co. Ltd.
BES Engineering Corp.
Shining Building Business Co. Ltd.
LCY Chemical Corp.
Sigurd Microelectronics Corp.
Elite Material Co. Ltd.
80
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
6,909,596
3,645,480
1,275,694
1,154,000
249,000
2,378,464
891,000
3,896,613
1,177,503
298,000
1,732,000
5,923,436
1,720,000
2,150,907
1,146,000
16,363,000
2,212,000
3,016,000
1,327,059
6,923,000
2,974,000
5,177,250
309,000
1,798,596
2,084,000
3,066,000
730,000
3,260,000
1,942,000
2,248,149
4,722,900
2,641,314
925,000
141,000
2,173,550
5,005,767
326,300
2,140,740
923,000
331,000
1,305,000
240,000
653,000
919,178
722,711
396,000
3,958,000
2,037,000
1,743,000
1,358,348
2,604,991
1,845,854
932,000
1,823,000
3,089,800
657,408
2,623,500
817,000
1,992,140
585,620
642,000
2,602,096
1,158,500
2,318,824
2,047
2,046
2,026
2,016
2,012
1,983
1,958
1,951
1,926
1,913
1,899
1,888
1,884
1,880
1,869
1,866
1,846
1,844
1,844
1,833
1,827
1,824
1,807
1,803
1,799
1,797
1,786
1,772
1,767
1,757
1,749
1,745
1,734
1,730
1,724
1,714
1,705
1,690
1,688
1,686
1,671
1,666
1,665
1,662
1,657
1,653
1,648
1,646
1,625
1,624
1,623
1,621
1,605
1,579
1,579
1,579
1,564
1,564
1,556
1,554
1,553
1,547
1,540
1,539
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Yieh Phui Enterprise Co. Ltd.
D-Link Corp.
IEI Integration Corp.
Wah Lee Industrial Corp.
Voltronic Power Technology Corp.
Everlight Chemical Industrial Corp.
Shin Zu Shing Co. Ltd.
Long Chen Paper Co. Ltd.
Test Research Inc.
Taiwan FamilyMart Co. Ltd.
Ichia Technologies Inc.
Masterlink Securities Corp.
Chimei Materials Technology Corp.
Microbio Co. Ltd.
Namchow Chemical Industrial Co. Ltd.
Ritek Corp.
Lextar Electronics Corp.
Long Bon International Co. Ltd.
Nan Ya Printed Circuit Board Corp.
China Man-Made Fiber Corp.
Hung Sheng Construction Ltd.
Ho Tung Chemical Corp.
FocalTech Corp. Ltd.
Rechi Precision Co. Ltd.
Kindom Construction Corp.
Evergreen International Storage & Transport Corp.
Aten International Co. Ltd.
Taiwan TEA Corp.
Ambassador Hotel
Gintech Energy Corp.
Continental Holdings Corp.
Test-Rite International Co. Ltd.
Senao International Co. Ltd.
Brogent Technologies Inc.
Taiwan Cogeneration Corp.
UPC Technology Corp.
Chlitina Holding Ltd.
Solar Applied Materials Technology Co.
Systex Corp.
Zeng Hsing Industrial Co. Ltd.
Asia Optical Co. Inc.
Silergy Corp.
Adlink Technology Inc.
Topco Scientific Co. Ltd.
Pixart Imaging Inc.
Lotes Co. Ltd.
Rich Development Co. Ltd.
CyberTAN Technology Inc.
Great China Metal Industry
Sinyi Realty Inc.
Pan-International Industrial Corp.
King's Town Construction Co. Ltd.
Holtek Semiconductor Inc.
Sincere Navigation Corp.
Accton Technology Corp.
Johnson Health Tech Co. Ltd.
Via Technologies Inc.
Syncmold Enterprise Corp.
ITEQ Corp.
Soft-World International Corp.
Sitronix Technology Corp.
Federal Corp.
Holy Stone Enterprise Co. Ltd.
Gloria Material Technology Corp.
81
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
5,411,197
755,000
2,398,000
2,600,641
537,000
1,703,409
4,186,387
4,220,954
4,330,443
998,000
234,000
2,407,577
1,663,096
2,537,740
154,179
5,892,240
525,000
3,358,342
1,847,000
1,709,243
1,537,000
318,000
305,900
2,736,096
1,546,750
301,000
1,649,441
454,000
1,993,300
2,317,000
563,000
1,244,353
363,000
1,035,000
301,000
418,000
3,196,248
3,267,000
370,146
1,546,000
1,311,000
1,536,468
854,852
2,939,696
1,318,000
442,363
2,351,100
680,000
332,189
1,479,334
847,000
547,333
1,051,000
2,304,000
2,484,000
2,835,000
1,557,564
3,461,000
392,000
1,754,364
1,254,306
2,142,000
2,315,112
1,157,500
1,533
1,530
1,508
1,506
1,506
1,504
1,500
1,493
1,491
1,487
1,483
1,479
1,463
1,460
1,446
1,438
1,419
1,417
1,412
1,411
1,408
1,404
1,398
1,395
1,390
1,389
1,388
1,373
1,369
1,368
1,364
1,353
1,353
1,344
1,316
1,315
1,312
1,296
1,294
1,282
1,280
1,272
1,268
1,260
1,254
1,243
1,240
1,232
1,209
1,204
1,196
1,179
1,166
1,165
1,164
1,159
1,145
1,145
1,139
1,123
1,114
1,094
1,093
1,082
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Lealea Enterprise Co. Ltd.
Kinik Co.
Chung Hsin Electric & Machinery Manufacturing Corp.
Mercuries & Associates Ltd.
Toung Loong Textile Manufacturing
Unity Opto Technology Co. Ltd.
Taiwan Land Development Corp.
Walsin Technology Corp.
Li Peng Enterprise Co. Ltd.
Kuo Toong International Co. Ltd.
Taiwan Liposome Co. Ltd.
Taiwan Life Insurance Co. Ltd.
Gigastorage Corp.
KEE TAI Properties Co. Ltd.
Yulon Nissan Motor Co. Ltd.
Chung Hung Steel Corp.
Yung Chi Paint & Varnish Manufacturing Co. Ltd.
Taiwan Styrene Monomer
YC INOX Co. Ltd.
China Metal Products
Taiwan Semiconductor Co. Ltd.
Nan Liu Enterprise Co. Ltd.
Green Seal Holding Ltd.
E-Ton Solar Tech Co. Ltd.
Visual Photonics Epitaxy Co. Ltd.
Posiflex Technology Inc.
Elitegroup Computer Systems Co. Ltd.
Global Unichip Corp.
Asia Polymer Corp.
Unizyx Holding Corp.
Taiwan Acceptance Corp.
Altek Corp.
Topkey Corp.
Huang Hsiang Construction Corp.
International Games System Co. Ltd.
Elite Advanced Laser Corp.
Unitech Printed Circuit Board Corp.
Sampo Corp.
Vivotek Inc.
ALI Corp.
Zinwell Corp.
Nien Hsing Textile Co. Ltd.
Taiflex Scientific Co. Ltd.
Kuoyang Construction Co. Ltd.
United Integrated Services Co. Ltd.
Genius Electronic Optical Co. Ltd.
CSBC Corp. Taiwan
Pihsiang Machinery Manufacturing Co. Ltd.
GeoVision Inc.
G Tech Optoelectronics Corp.
Sonix Technology Co. Ltd.
CHC Healthcare Group
Quanta Storage Inc.
Getac Technology Corp.
Etron Technology Inc.
OptoTech Corp.
Gemtek Technology Corp.
HUA ENG Wire & Cable
Lotus Pharmaceutical Co. Ltd.
Solartech Energy Corp.
Tong-Tai Machine & Tool Co. Ltd.
Lingsen Precision Industries Ltd.
Chia Hsin Cement Corp.
Weltrend Semiconductor
82
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
372,578
1,592,000
475,354
391,000
993,750
1,525,148
1,371,946
1,431,000
2,068,000
2,022,000
2,710,653
2,661,000
3,787,219
1,525,405
1,913,000
2,329,000
1,453,439
1,679,000
1,867,000
2,242,000
3,199,820
3,202,000
716,000
4,116,000
399,400
2,046,925
923,458
2,207,920
2,921,935
2,225,000
1,219,000
2,475,000
1,261,457
2,011,000
1,546,931
731,625
917,000
1,304,000
605,000
2,457,895
1,358,000
1,381,000
2,101,195
1,288,000
2,660,265
631,000
838,478
10,886,974
402,000
372,000
1,456,000
1,313,000
1,108,461
2,842,950
582,000
1,241,625
753,979
747,000
933,000
2,205,000
1,546,000
754,143
715,000
603,617
1,078
1,069
1,068
1,049
1,046
1,042
1,034
1,033
1,031
1,019
1,019
1,016
1,013
995
981
965
957
942
939
939
916
907
873
859
855
853
827
818
815
813
796
788
787
781
766
765
750
749
745
735
735
728
722
709
707
706
698
697
684
683
667
656
628
617
613
609
609
530
515
494
481
477
473
471
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Cyberlink Corp.
China Chemical & Pharmaceutical Co. Ltd.
Jentech Precision Industrial Co. Ltd.
Global Mixed Mode Technology Inc.
Taiwan Sanyo Electric Co. Ltd.
Asia Vital Components Co. Ltd.
Hung Poo Real Estate Development Corp.
Taiwan Fire & Marine Insurance Co. Ltd.
Ability Enterprise Co. Ltd.
Alpha Networks Inc.
Chun Yuan Steel
Sunplus Technology Co. Ltd.
Concord Securities Corp.
Green Energy Technology Inc.
Formosa Epitaxy Inc.
Gold Circuit Electronics Ltd.
Lite-On Semiconductor Corp.
Infortrend Technology Inc.
Dynamic Electronics Co. Ltd.
Pan Jit International Inc.
Chung Hwa Pulp Corp.
Silicon Integrated Systems Corp.
Basso Industry Corp.
HannsTouch Solution Inc.
Microlife Corp.
Wafer Works Corp.
Jess-Link Products Co. Ltd.
China General Plastics Corp.
Waterland Financial Holdings Co. Ltd.
China Electric Manufacturing Corp.
First Steamship Co. Ltd.
Champion Building Materials Co. Ltd.
Shih Wei Navigation Co. Ltd.
Forhouse Corp.
Genesis Photonics Inc.
ITE Technology Inc.
L&K Engineering Co. Ltd.
Hsin Kuang Steel Co. Ltd.
ACES Electronic Co. Ltd.
Bank of Kaohsiung Co. Ltd.
Darfon Electronics Corp.
Phihong Technology Co. Ltd.
Eastern Media International Corp.
Sunrex Technology Corp.
AGV Products Corp.
Chinese Maritime Transport Ltd.
FSP Technology Inc.
Wintek Corp.
Young Optics Inc.
AV Tech Corp.
WUS Printed Circuit Co. Ltd.
Microelectronics Technology Inc.
LES Enphants Co. Ltd.
Ta Ya Electric Wire & Cable
Tsann Kuen Enterprise Co. Ltd.
Globe Union Industrial Corp.
Taiyen Biotech Co. Ltd.
Taiwan Navigation Co. Ltd.
TYC Brother Industrial Co. Ltd.
Tyntek Corp.
Taiwan Mask Corp.
Young Fast Optoelectronics Co. Ltd.
Sheng Yu Steel Co. Ltd.
Entire Technology Co. Ltd.
83
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
744,135
369,294
1,408,462
1,229,892
619,405
1,888,000
729,000
547,000
246,000
956,000
6,515,351
859,000
233,000
730,000
530,000
181,000
38,879
105,026
87,320
5,975,000
455
450
446
433
424
409
394
362
358
336
335
314
307
299
293
234
220
81
1
—
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
ENG Electric Co. Ltd.
Newmax Technology Co. Ltd.
Global Brands Manufacture Ltd.
KYE Systems Corp.
Silitech Technology Corp.
Mosel Vitelic Inc.
J Touch Corp.
Advanced International Multitech Co. Ltd.
Chinese Gamer International Corp.
Giantplus Technology Co. Ltd.
Chunghwa Picture Tubes Ltd.
Avermedia Technologies
Shinkong Textile Co. Ltd.
Bright Led Electronics Corp.
O-TA Precision Industry Co. Ltd.
Shihlin Paper Corp.
Tatung Co. Ltd. GDR
Great Taipei Gas Co. Ltd.
Tong-Tai Machine & Tool Co. Rights Exp. 12/17/2014
ProMOS Technologies Inc.
3,941,136
Thailand (0.6%)
Advanced Info Service PCL (Foreign)
*
PTT PCL
CP ALL PCL (Foreign)
*
Siam Commercial Bank PCL (Local)
Kasikornbank PCL (Foreign)
PTT Exploration & Production PCL (Foreign)
PTT PCL (Foreign)
Siam Cement PCL (Foreign)
*
Kasikornbank PCL
Siam Commercial Bank PCL (Foreign)
Intouch Holdings PCL
Bangkok Bank PCL (Foreign)
Airports of Thailand PCL (Foreign)
Big C Supercenter PCL
Total Access Communication PCL
*
True Corp. PCL
*
Central Pattana PCL
*
Bank of Ayudhya PCL (Local)
*
PTT Global Chemical PCL
*
PTT Exploration and Production PCL (Local)
*
Charoen Pokphand Foods PCL
*
Minor International PCL
*
Advanced Info Service PCL (Local)
Krung Thai Bank PCL (Foreign)
TMB Bank PCL
*
Bumrungrad Hospital PCL
*
Bangkok Dusit Medical Services PCL
*
CP ALL PCL (Local)
PTT Global Chemical PCL
Charoen Pokphand Foods PCL (Foreign)
*
Electricity Generating PCL
Glow Energy PCL (Foreign)
BTS Group Holdings PCL
*
Delta Electronics Thailand PCL
*
Land & Houses PCL
Thai Oil PCL (Foreign)
Thai Union Frozen Products PCL (Foreign)
*
Siam City Cement PCL (Local)
*
BEC World PCL
Home Product Center PCL
*
BTS Rail Mass Transit Growth Infrastructure Fund
6,120,100
3,049,400
21,481,570
5,438,500
4,002,300
6,239,769
2,366,115
1,894,500
3,382,600
4,402,600
9,535,400
3,020,100
2,205,300
2,180,300
4,520,100
35,118,300
8,478,686
8,373,726
6,196,400
2,569,300
11,259,400
9,945,700
1,395,076
14,913,137
112,734,300
2,244,800
15,919,000
6,451,700
4,225,236
8,304,300
1,478,600
2,486,345
20,285,100
3,155,800
19,252,200
4,176,800
2,600,700
443,617
3,777,600
19,025,849
17,629,424
84
44,616
34,448
30,006
29,673
29,345
28,128
26,803
26,488
24,548
23,673
21,662
18,751
16,382
15,660
14,362
12,718
12,558
12,279
11,873
11,619
10,803
10,725
10,310
10,158
9,417
9,165
9,041
9,012
8,029
7,968
7,807
7,784
6,414
6,287
6,055
5,765
5,744
5,720
5,603
5,432
5,413
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
10,312,269
7,263,100
16,254,048
13,467,523
2,901,100
29,397,000
2,292,300
3,976,000
2,254,320
3,419,900
63,894,500
4,454,300
514,500
36,243,600
4,592,742
2,577,700
4,822,400
2,370,905
15,089,900
2,432,920
2,729,500
3,917,800
4,205,648
2,059,900
7,317,441
28,064,000
3,558,800
2,537,400
2,710,500
6,920,300
25,020,500
1,771,600
2,322,500
1,775,743
2,194,200
1,876,200
3,791,900
2,745,500
4,211,100
5,115,296
3,313,760
2,651,500
6,440,262
7,790,200
1,211,697
5,881,825
3,882,700
4,447,040
30,769,000
2,586,100
12,774,016
2,388,800
860,700
1,256,062
1,462,200
3,134,000
7,953,700
10,058,300
575,400
957,000
11,989,890
7,424,785
3,415,800
4,060,200
5,224
5,195
5,190
4,799
4,566
4,321
4,276
4,276
4,017
3,963
3,922
3,891
3,822
3,806
3,700
3,601
3,538
3,498
3,389
3,327
3,288
3,119
3,086
2,959
2,920
2,742
2,720
2,688
2,618
2,578
2,367
2,366
2,357
2,278
2,256
2,189
2,153
2,128
2,085
2,010
1,980
1,937
1,839
1,782
1,777
1,770
1,749
1,747
1,709
1,694
1,679
1,636
1,562
1,504
1,504
1,493
1,343
1,328
1,316
1,315
1,308
1,288
1,261
1,260
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
CPN Retail Growth Leasehold Property Fund
Krung Thai Bank PCL
BTS Group Holdings PCL
True Corp. PCL
Robinson Department Store PCL
Hemaraj Land and Development PCL
Ratchaburi Electricity Generating Holding PCL
Thanachart Capital PCL
Bangkok Life Assurance PCL
Central Plaza Hotel PCL
Bangkok Land PCL
Banpu PCL (Local)
Airports of Thailand PCL
IRPC PCL
Sino-Thai Engineering & Construction PCL
Berli Jucker PCL
Indorama Ventures PCL
BEC World PCL (Foreign)
Jasmine International PCL
Tisco Financial Group PCL
Thaicom PCL
Supalai PCL
Indorama Ventures PCL
Hana Microelectronics PCL (Foreign)
Siam Global House PCL
IRPC PCL (Foreign)
LPN Development PCL
Banpu PCL
Pruksa Real Estate PCL
TTW PCL
TMB Bank PCL
Hana Microelectronics PCL
Samart Corp. PCL
Kiatnakin Bank PCL
Bangchak Petroleum PCL
Bangkok Expressway PCL (Foreign)
Bangkok Dusit Medical Services PCL
SPCG PCL
MBK PCL
VGI Global Media PCL
Thoresen Thai Agencies PCL
Major Cineplex Group PCL
Home Product Center PCL
Jasmine International PCL
Bank of Ayudhya PCL
Bangkok Chain Hospital PCL
Sri Trang Agro-Industry PCL
VGI Global Media PCL
TPI Polene PCL
Precious Shipping PCL
Quality Houses PCL
Thai Vegetable Oil PCL
Dynasty Ceramic PCL
WHA Corp. PCL
Pruksa Real Estate PCL
Amata Corp. PCL
Esso Thailand PCL
Quality Houses PCL
Thai Union Frozen Products PCL
Thai Oil PCL
Thai Reinsurance PCL
Italian-Thai Development PCL
Thai Airways International PCL (Foreign)
Univentures PCL
85
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
17,772,200
96,407,100
564,060
10,057,632
810,500
265,466,800
11,922,053
2,038,074
213,000
536,400
4,332,944
1,667,900
14,126,652
464,900
1,807,400
756,900
18,449,500
401,985
667,800
346,000
1,381,400
2,237,500
1,453,100
501,500
853,604
656,618
70
1,124
1,006
1,005
933
823
734
732
676
659
626
623
621
603
603
541
531
530
481
448
444
429
391
297
221
93
58
—
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
Sansiri PCL (Local)
Sahaviriya Steel Industries PCL
Bangkok Life Assurance PCL
Cal-Comp Electronics Thailand PCL
Samart Corp. PCL
G J Steel PCL (Local)
Bangkok Land PCL
Siam Global House PCL
Glow Energy PCL
Bangkok Expressway PCL
Asian Property Development PCL (Foreign)
TTW PCL
Sansiri PCL (Foreign)
Kiatnakin Bank PCL
Bangkok Chain Hospital PCL
Maybank Kim Eng Securities Thailand PCL
Tata Steel Thailand PCL
WHA Corp. PCL
Thoresen Thai Agencies PCL
Saha-Union PCL
Univentures PCL
Italian-Thai Development PCL
AP Thailand PCL
Thai Airways International PCL
Indorama Ventures PCL Warrants Exp. 08/24/2017
Indorama Ventures Warrants Exp. 08/24/2018
G Steel PCL
794,485
Turkey (0.4%)
Turkiye Garanti Bankasi AS
Akbank TAS
BIM Birlesik Magazalar AS
*
Turkcell Iletisim Hizmetleri AS
Turkiye Halk Bankasi AS
Haci Omer Sabanci Holding AS (Bearer)
Turkiye Is Bankasi
KOC Holding AS
Eregli Demir ve Celik Fabrikalari TAS
Tupras Turkiye Petrol Rafinerileri AS
*
Anadolu Efes Biracilik Ve Malt Sanayii AS
Turkiye Vakiflar Bankasi Tao
Emlak Konut Gayrimenkul Yatirim Ortakligi AS
Yapi ve Kredi Bankasi AS
*
Turk Hava Yollari
Turk Telekomunikasyon AS
Coca-Cola Icecek AS
TAV Havalimanlari Holding AS
Ulker Biskuvi Sanayi AS
Enka Insaat ve Sanayi AS
Arcelik AS
*
Ford Otomotiv Sanayi AS
Turkiye Sise ve Cam Fabrikalari AS
Tofas Turk Otomobil Fabrikasi AS
Petkim Petrokimya Holding AS
Turkiye Sinai Kalkinma Bankasi AS
*
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS
Yazicilar Holding AS Class A
*
Pegasus Hava Tasimaciligi AS
Turk Traktor ve Ziraat Makineleri AS
Aygaz AS
Aselsan Elektronik Sanayi Ve Ticaret AS
*
Migros Ticaret AS
Dogus Otomotiv Servis ve Ticaret AS
Aksigorta AS
13,289,379
10,387,826
1,418,461
5,005,426
3,962,173
5,159,373
8,506,681
4,021,077
8,666,623
778,021
1,240,840
6,638,863
12,238,384
5,459,894
3,504,919
3,337,128
414,057
950,505
969,696
2,942,057
1,103,224
444,856
3,250,564
784,853
2,877,019
4,767,070
3,459,714
295,080
215,485
83,405
537,967
495,811
236,475
494,110
1,624,218
86
51,882
37,517
32,379
29,047
26,463
23,556
21,272
20,495
18,064
16,890
14,499
14,272
13,762
11,958
11,467
9,597
9,450
7,967
7,157
7,109
6,763
5,672
4,935
4,916
4,581
4,171
3,849
2,858
2,766
2,631
2,268
2,251
2,197
2,123
1,966
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
781,293
2,129,136
295,284
1,407,188
238,004
5,664,568
497,282
4,881,513
391,239
1,743,718
1,011,368
549,213
1,440,203
1,778,915
506,347
113,140
1,202,109
642,034
754,417
543,064
603,765
5,062
305,020
979,512
583,540
3,143,110
1,961
1,942
1,907
1,846
1,759
1,705
1,644
1,583
1,285
1,230
1,204
1,173
1,122
1,048
960
926
924
905
796
696
656
561
552
515
498
424
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
*
*
*
*
Tekfen Holding AS
Sekerbank TAS
Koza Altin Isletmeleri AS
Trakya Cam Sanayii AS
Cimsa Cimento Sanayi VE Ticaret AS
Dogan Sirketler Grubu Holding AS
Vestel Elektronik Sanayi ve Ticaret AS
Asya Katilim Bankasi AS
Aksa Akrilik Kimya Sanayii AS
Albaraka Turk Katilim Bankasi AS
Zorlu Enerji Elektrik Uretim AS
Akfen Holding AS
Koza Anadolu Metal Madencilik Isletmeleri AS
Is Gayrimenkul Yatirim Ortakligi AS
Gubre Fabrikalari TAS
Bizim Toptan Satis Magazalari AS
Ipek Dogal Enerji Kaynaklari Ve Uretim AS
Torunlar Gayrimenkul Yatirim Ortakligi AS
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS
Vakif Gayrimenkul Yatirim Ortakligi AS
Turcas Petrol AS
Konya Cimento Sanayii AS
Alarko Holding AS
Akenerji Elektrik Uretim AS
Anadolu Cam Sanayii AS
Ihlas Holding AS
468,572
United Arab Emirates (0.2%)
Emaar Properties PJSC
First Gulf Bank PJSC
Abu Dhabi Commercial Bank PJSC
DP World Ltd.
Aldar Properties PJSC
*
Arabtec Holding Co.
Union National Bank PJSC
*
Emaar Malls Group PJSC
Dubai Islamic Bank PJSC
Dubai Financial Market
Air Arabia PJSC
Al Waha Capital PJSC
Dubai Investments PJSC
*
Dana Gas PJSC
*
Union Properties PJSC
*
Deyaar Development PJSC
*
Drake & Scull International
Eshraq Properties Co. PJSC
RAK Properties PJSC
National Central Cooling Co. PJSC
Aramex PJSC
*
Islamic Arab Insurance Co.
*
Eshraq Properties Rights Exp. 11/20/2014
22,150,304
6,119,962
9,159,952
1,036,314
19,654,704
13,642,669
6,877,671
12,962,592
3,743,147
10,032,370
14,596,547
5,891,488
4,838,052
20,974,143
5,763,092
9,356,728
7,030,772
5,175,128
6,216,041
2,227,104
733,646
1,654,679
1,799,909
61,762
30,385
19,968
19,856
17,602
16,231
13,007
11,329
7,832
7,687
5,345
4,544
4,167
3,471
2,849
2,842
2,205
1,544
1,446
942
619
315
34
___________
235,982
United Kingdom (14.7%)
HSBC Holdings plc
BP plc
Royal Dutch Shell plc Class A
GlaxoSmithKline plc
British American Tobacco plc
AstraZeneca plc
Royal Dutch Shell plc Class B
Vodafone Group plc
Diageo plc
*
Lloyds Banking Group plc
Barclays plc
120,918,328
117,020,910
22,348,749
30,827,186
11,819,361
8,001,615
15,551,368
168,451,046
15,970,860
342,720,686
103,954,006
87
1,237,821
843,075
800,284
698,827
671,314
582,601
576,947
559,741
470,068
423,500
398,476
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
7,911,082
16,179,940
21,579,931
23,918,075
13,544,785
67,671,680
4,090,740
5,994,681
7,650,550
51,518,001
6,110,199
3,728,262
12,835,657
8,284,639
10,720,041
8,423,249
11,861,758
6,178,164
18,663,980
31,894,023
20,045,151
51,477,391
37,631,594
8,856,843
7,281,144
4,669,767
2,211,406
5,159,368
934,367
5,692,024
31,020,640
15,171,533
6,297,538
6,654,815
2,608,252
1,673,907
4,983,545
13,522,865
1,142,820
23,727,903
6,413,726
4,169,208
15,020,470
2,810,246
10,338,034
1,300,645
4,316,331
2,109,027
1,497,933
3,179,284
3,184,625
10,312,986
6,367,044
1,345,578
1,514,209
4,968,155
1,508,999
2,482,513
1,156,330
1,939,857
8,647,661
5,729,279
1,020,913
6,245,986
377,832
373,903
359,645
354,617
350,694
346,973
343,872
338,585
307,874
303,209
265,304
248,199
193,206
174,781
172,735
164,411
160,261
158,129
155,735
154,504
147,287
143,166
139,220
125,406
119,764
103,691
97,588
96,654
96,451
96,396
96,182
95,709
94,647
94,375
93,489
88,951
88,353
84,059
79,849
77,197
74,839
73,263
72,793
68,922
67,361
61,984
59,092
57,264
56,834
55,796
53,329
52,593
49,271
49,211
48,863
48,786
48,247
46,325
46,108
45,436
44,774
44,595
44,501
43,413
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
Rio Tinto plc
Prudential plc
BG Group plc
National Grid plc
BHP Billiton plc
Glencore plc
Reckitt Benckiser Group plc
SABMiller plc
Unilever plc
BT Group plc
Imperial Tobacco Group plc
Shire plc
Standard Chartered plc
Anglo American plc London Shares
Compass Group plc
WPP plc
Rolls-Royce Holdings plc
SSE plc
Aviva plc
Centrica plc
BAE Systems plc
Tesco plc
Legal & General Group plc
ARM Holdings plc
Reed Elsevier plc
CRH plc
Associated British Foods plc
Pearson plc
Next plc
Smith & Nephew plc
Old Mutual plc
Standard Life plc
Experian plc
British Sky Broadcasting Group plc
Royal Dutch Shell plc Class A (Amsterdam Shares)
Wolseley plc
Land Securities Group plc
Royal Bank of Scotland Group plc
Whitbread plc
ITV plc
British Land Co. plc
Capita plc
Kingfisher plc
Burberry Group plc
Marks & Spencer Group plc
Johnson Matthey plc
United Utilities Group plc
Bunzl plc
InterContinental Hotels Group plc
Babcock International Group plc
Ashtead Group plc
GKN plc
RSA Insurance Group plc
Weir Group plc
London Stock Exchange Group plc
Hammerson plc
Severn Trent plc
Smiths Group plc
Carnival plc
Persimmon plc
Friends Life Group Ltd.
Tullow Oil plc
Intertek Group plc
Aberdeen Asset Management plc
88
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
6,444,960
9,517,499
6,258,023
6,889,751
1,568,394
9,853,614
2,327,130
6,111,909
20,479,470
3,249,517
5,947,765
1,521,397
5,109,847
8,975,473
582,078
13,726,306
1,734,189
4,453,125
7,228,842
2,473,703
1,372,070
2,877,210
5,509,279
5,813,313
924,714
1,885,711
854,821
533,197
2,693,155
3,221,722
3,800,483
797,308
2,954,233
4,700,860
1,643,449
3,939,559
6,772,153
583,508
716,503
2,284,225
1,249,392
1,243,872
851,449
2,246,361
4,619,705
5,941,968
2,293,504
2,553,356
2,175,049
2,388,534
10,292,371
3,171,951
3,413,086
6,710,380
11,479,236
546,589
2,302,163
480,374
1,376,504
933,154
2,007,407
776,668
749,764
3,941,775
42,294
42,071
41,988
41,682
41,515
40,304
39,283
38,855
38,841
38,781
37,661
37,099
36,911
35,304
34,027
34,015
33,952
33,937
33,684
33,017
33,004
32,048
31,804
31,696
31,442
31,437
31,420
29,851
29,548
29,534
29,284
29,124
28,659
28,628
27,922
27,826
27,784
27,764
27,677
27,621
27,183
26,575
25,846
25,293
25,236
25,208
24,352
24,307
23,910
23,846
23,136
23,125
22,892
22,674
22,652
22,370
22,147
21,929
21,920
21,886
21,881
21,759
21,644
21,629
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
*
International Consolidated Airlines Group SA (London Shares)
Direct Line Insurance Group plc
Barratt Developments plc
Sage Group plc
Travis Perkins plc
G4S plc
Mondi plc
3i Group plc
Taylor Wimpey plc
St. James's Place plc
Dixons Carphone plc
Aggreko plc
Meggitt plc
J Sainsbury plc
Randgold Resources Ltd.
WM Morrison Supermarkets plc
IMI plc
Rexam plc
Cobham plc
Pennon Group plc
easyJet plc
Inchcape plc
William Hill plc
Intu Properties plc
Provident Financial plc
AMEC plc
Croda International plc
DCC plc
Inmarsat plc
Investec plc
Informa plc
Berkeley Group Holdings plc
Tate & Lyle plc
Segro plc
Petrofac Ltd.
Royal Mail plc
Melrose Industries plc
Derwent London plc
Schroders plc
BTG plc
Coca-Cola HBC AG
Admiral Group plc
Hikma Pharmaceuticals plc
Antofagasta plc
Capital & Counties Properties plc
DS Smith plc
John Wood Group plc
Drax Group plc
Great Portland Estates plc
Halma plc
Booker Group plc
Amlin plc
ICAP plc
Henderson Group plc
Rentokil Initial plc
Rotork plc
IG Group Holdings plc
Spirax-Sarco Engineering plc
Hargreaves Lansdown plc
Close Brothers Group plc
Hiscox Ltd.
Bellway plc
Spectris plc
Howden Joinery Group plc
89
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,684,843
3,192,670
595,666
1,752,816
10,011,095
2,143,342
9,220,847
1,380,348
8,946,402
1,082,392
3,096,217
1,417,399
2,975,761
2,685,925
2,529,031
1,504,030
1,599,263
3,461,578
1,495,827
3,339,881
1,286,201
5,211,630
2,623,701
2,746,396
1,542,885
1,042,290
878,848
512,119
3,294,976
635,414
1,348,406
1,267,436
7,632,401
3,299,608
1,200,072
4,120,534
730,538
1,204,273
4,000,240
4,216,754
2,465,352
442,611
15,995,148
2,881,702
1,216,763
1,071,247
1,895,139
1,509,696
769,739
1,710,911
859,624
690,867
592,511
2,651,030
2,342,257
1,933,305
1,998,712
5,824,417
2,585,517
2,715,509
4,374,430
953,964
2,681,548
271,670
21,349
20,388
20,133
20,097
19,866
18,415
18,361
17,745
17,692
17,513
17,484
17,090
16,868
16,643
16,614
16,545
16,517
16,504
16,313
16,054
15,888
15,315
15,041
14,640
14,065
13,988
13,944
13,894
13,839
13,814
13,741
13,734
13,727
13,643
13,575
13,338
13,170
12,901
12,638
12,625
12,578
12,368
12,358
12,188
12,168
11,966
11,805
11,757
11,738
11,678
11,596
11,496
11,487
11,361
11,288
11,177
11,105
11,021
10,858
10,846
10,789
10,748
10,699
10,698
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
2
*
*
*,^
^
*
*
Daily Mail & General Trust plc
TUI Travel plc
Rightmove plc
Shaftesbury plc
Man Group plc
Catlin Group Ltd.
Thomas Cook Group plc
Greene King plc
Hays plc
Berendsen plc
Merlin Entertainments plc
Phoenix Group Holdings
BBA Aviation plc
Stagecoach Group plc
Intermediate Capital Group plc
Essentra plc
Sports Direct International plc
Serco Group plc
Britvic plc
TalkTalk Telecom Group plc
Telecity Group plc
Home Retail Group plc
Jupiter Fund Management plc
Carillion plc
UBM plc
CSR plc
Micro Focus International plc
Victrex plc
Beazley plc
WS Atkins plc
Grafton Group plc
Restaurant Group plc
Firstgroup plc
Premier Oil plc
Playtech plc
QinetiQ Group plc
WH Smith plc
Lancashire Holdings Ltd.
Regus plc
Polyus Gold International Ltd.
Ashmore Group plc
Ultra Electronics Holdings plc
Cable & Wireless Communications plc
Elementis plc
Bodycote plc
Fresnillo plc
Michael Page International plc
International Personal Finance plc
Jardine Lloyd Thompson Group plc
Vesuvius plc
Bovis Homes Group plc
Kennedy Wilson Europe Real Estate plc
Betfair Group plc
Senior plc
Mitie Group plc
Paragon Group of Cos. plc
Pace plc
Ladbrokes plc
Greencore Group plc
Ocado Group plc
Balfour Beatty plc
Genel Energy plc
National Express Group plc
Go-Ahead Group plc
90
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
356,259
1,195,859
1,255,952
2,802,601
868,137
519,127
1,259,219
399,040
1,741,080
3,221,132
914,347
1,331,540
1,482,941
239,408
3,705,070
2,770,008
7,061,839
857,142
3,664,473
1,262,384
342,879
1,680,068
374,884
3,625,708
3,573,839
632,872
1,820,147
1,551,983
7,834,690
781,291
337,323
719,139
582,302
2,577,558
2,740,015
379,884
1,643,713
553,528
1,377,922
4,339,056
1,350,706
1,388,113
821,917
676,966
2,674,145
4,185,327
313,611
963,035
2,301,850
713,736
554,590
850,050
3,242,068
3,207,201
1,235,428
3,222,079
161,483
1,131,782
228,548
1,292,523
1,398,658
4,477,344
650,842
1,655,686
10,642
10,434
10,363
10,279
10,227
10,179
10,004
9,820
9,612
9,567
9,279
9,097
9,039
8,989
8,938
8,872
8,743
8,720
8,648
8,630
8,620
8,479
8,470
8,432
8,380
8,344
8,231
8,178
8,144
8,054
8,049
8,007
7,870
7,808
7,666
7,497
7,474
7,464
7,410
7,360
7,310
7,307
7,190
7,115
7,115
7,104
7,078
7,058
6,977
6,892
6,733
6,672
6,650
6,635
6,627
6,620
6,620
6,574
6,510
6,482
6,474
6,427
6,304
6,106
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*,^
*
*
*
^
*,^
Synergy Health plc
RPC Group plc
Polymetal International plc
Electrocomponents plc
Hunting plc
Galliford Try plc
Halfords Group plc
AVEVA Group plc
HomeServe plc
Ophir Energy plc
Interserve plc
SVG Capital plc
Mitchells & Butlers plc
Fidessa Group plc
Marston's plc
Moneysupermarket.com Group plc
Afren plc
Domino's Pizza Group plc
Londonmetric Property plc
UNITE Group plc
Dignity plc
Laird plc
Telecom Plus plc
Cairn Energy plc
SIG plc
Vedanta Resources plc
Morgan Advanced Materials plc
UDG Healthcare plc
Debenhams plc
Savills plc
Kier Group plc
Diploma plc
Dunelm Group plc
Grainger plc
Lonmin plc
Genus plc
Brewin Dolphin Holdings plc
J D Wetherspoon plc
Crest Nicholson Holdings plc
Hansteen Holdings plc
Alent plc
Soco International plc
Big Yellow Group plc
Workspace Group plc
Petra Diamonds Ltd.
Spirit Pub Co. plc
Cranswick plc
Countrywide plc
Premier Farnell plc
Domino Printing Sciences plc
Dechra Pharmaceuticals plc
Northgate plc
Enterprise Inns plc
Evraz plc
Cineworld Group plc
F&C Commercial Property Trust Ltd.
Bank of Georgia Holdings plc
ST Modwen Properties plc
Renishaw plc
Entertainment One Ltd.
Redrow plc
Bwin.Party Digital Entertainment plc
Greggs plc
KAZ Minerals plc
91
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
1,343,606
1,532,905
1,197,906
339,284
437,875
868,769
1,734,979
6,757,423
335,971
643,454
986,040
1,392,964
166,783
4,470,540
1,257,216
3,277,293
489,784
952,234
1,517,426
5,563,302
3,819,732
2,069,465
1,041,920
1,426,827
1,375,571
1,541,902
1,492,693
2,578,761
723,066
1,606,316
3,067,550
2,578,703
600,523
612,295
1,203,405
763,386
406,805
969,660
3,211,432
495,079
1,134,606
2,858,339
3,009,997
1,767,717
816,990
1,626,356
201,062
231,791
31,744
876,473
1,128,419
4,441,053
457,890
7,565,600
18,065,501
563,954
914,331
1,107,038
669,159
902,314
640,816
862,905
396,935
17,233
6,104
5,978
5,910
5,873
5,853
5,795
5,652
5,541
5,481
5,384
5,295
5,233
5,194
4,971
4,908
4,877
4,862
4,797
4,615
4,612
4,593
4,569
4,553
4,353
4,258
4,205
4,031
4,013
3,988
3,773
3,729
3,527
3,488
3,437
3,399
3,321
3,223
3,196
3,186
3,120
3,011
2,905
2,866
2,808
2,773
2,759
2,674
2,560
2,537
2,451
2,404
2,348
2,038
1,999
1,987
1,948
1,875
1,756
1,666
1,510
1,352
1,165
509
383
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
*
*
*
*
*
^
*
*
^
*
*
*
*
*
*
*
*,^
*
*
Tullett Prebon plc
esure Group plc
Fenner plc
Oxford Instruments plc
Keller Group plc
Dairy Crest Group plc
Synthomer plc
Centamin plc
Al Noor Hospitals Group plc
De La Rue plc
N Brown Group plc
RPS Group plc
Ted Baker plc
EnQuest plc
Chemring Group plc
Kcom Group plc
Computacenter plc
Poundland Group plc
Xchanging plc
Redefine International PLC
Spirent Communications plc
Colt Group SA
Devro plc
Imagination Technologies Group plc
Pets at Home Group plc
ITE Group plc
Foxtons Group plc
Shanks Group plc
Chesnara plc
Lamprell plc
Darty plc
UK Commercial Property Trust Ltd.
APR Energy plc
Helical Bar plc
Connect Group plc
Cape plc
NMC Health plc
African Barrick Gold plc
Speedy Hire plc
SDL plc
AO World plc
Picton Property Income Ltd.
Schroder REIT Ltd.
Stobart Group Ltd.
Development Securities plc
Salamander Energy plc
SuperGroup plc
Morgan Sindall Group plc
Daejan Holdings plc
Mothercare plc
Just Retirement Group plc
Premier Foods plc
Xaar plc
Aquarius Platinum Ltd.
Kenmare Resources plc
Infinis Energy plc
888 Holdings plc
Hochschild Mining plc
Gem Diamonds Ltd.
Partnership Assurance Group plc
Anglo Pacific Group plc
Ferrexpo plc
IGAS Energy plc
CRH plc
92
VanguardВ® Total International Stock Index Fund
Schedule of Investments
October 31, 2014
Shares
Market
Value
($000)
491,987
2,619
20
___________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Asia Resource Minerals plc
Mucklow A & J Group plc
317
19,509,452
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Total Common Stocks (Cost $121,655,133)
132,223,335
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Coupon
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Temporary Cash Investments (2.3%)1
Money Market Fund (2.3%)
5,6
Vanguard Market Liquidity Fund
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
0.114%
3,077,639,759
Maturity
Date
3,077,640
Face
Amount
($000)
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
U.S. Government and Agency Obligations (0.0%)
Federal Home Loan Bank Discount Notes
7,8,9
Federal Home Loan Bank Discount Notes
7,8,9
Federal Home Loan Bank Discount Notes
7,8,9
Federal Home Loan Bank Discount Notes
8,9,10 Freddie Mac Discount Notes
9,10
Freddie Mac Discount Notes
8,10
Freddie Mac Discount Notes
0.074%
0.074%
0.030-0.033%
0.070%
0.070%
0.100%
0.050%
7,8,9
11/28/14
12/3/14
12/19/14
3/27/15
12/8/14
12/29/14
1/14/15
5,000
18,000
6,000
15,500
4,500
1,000
4,000
5,000
17,999
5,999
15,497
4,500
1,000
3,999
___________
53,994
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
1
Total Temporary Cash Investments (Cost $3,131,634)
3,131,634
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Total Investments (101.8%) (Cost $124,786,767)
135,354,969
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Other Assets and Liabilities—Net (-1.8%)
6
(2,413,978)
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Net Assets (100%)
132,940,991
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*
^
1
2
3
4
5
6
7
8
9
10
Securities with a market value of less than $500 are displayed with a dash.
Non-income-producing security.
Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,381,553,000.
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 100.0% and 1.8%, respectively, of net
assets.
Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from
registration, normally to qualified institutional buyers. At October 31, 2014, the aggregate value of these securities was $144,266,000,
representing 0.1% of net assets.
“Other” represents securities that are not classified by the fund’s benchmark index.
Considered an affiliated company of the fund as the issuer is another member of The Vanguard Group.
Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day
yield.
Includes $2,587,888,000 of collateral received for securities on loan.
The issuer operates under a congressional charter; its securities are generally neither guaranteed by the U.S. Treasury nor backed by the full
faith and credit of the U.S. government.
Securities with a value of $34,166,000 have been segregated as initial margin for open futures contracts.
Securities with a value of $14,470,000 have been segregated as collateral for open forward currency contracts.
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.
ADR—American Depositary Receipt.
GDR—Global Depositary Receipt.
REIT—Real Estate Investment Trust.
93
В© 2014 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SNA1130 122014
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