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Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 12/31/2015

RankHoldingPercentage
1AT&T Inc.23.6%
2Verizon Communications Inc.23.4%
3Level 3 Communications Inc.4.8%
4CenturyLink Inc.4.1%
5SBA Communications Corp.3.9%
6T-Mobile US Inc.3.9%
7Frontier Communications Corp.2.2%
8Telephone & Data Systems Inc.1.8%
9Cogent Communications Holdings Inc.1.7%
10Atlantic Tele-Network Inc.1.7%
Ten largest holdings = 71.1% of total net assets

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

Vanguard portfolio holdings disclaimer