Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 03/31/2017

1AT&T Inc.23.2%
2Verizon Communications Inc.22.8%
3T-Mobile US Inc.4.8%
4Level 3 Communications Inc.4.6%
5CenturyLink Inc.4.0%
6Sprint Corp.3.1%
7Zayo Group Holdings Inc.2.7%
8Windstream Holdings Inc.2.5%
9General Communication Inc.2.1%
10ORBCOMM Inc.2.0%
Ten largest holdings = 71.8% of total net assets

Portfolio holdings may exclude any temporary cash investments and equity index products.

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