Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 07/31/2017

1Verizon Communications Inc.23.6%
2AT&T Inc.22.8%
3Level 3 Communications Inc.4.4%
4T-Mobile US Inc.4.1%
5CenturyLink Inc.4.0%
6Sprint Corp.2.9%
7Zayo Group Holdings Inc.2.7%
8Consolidated Communications Holdings Inc.2.7%
9ORBCOMM Inc.2.4%
10General Communication Inc.2.4%
Ten largest holdings = 72.0% of total net assets

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

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