Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 02/28/2017

1AT&T Inc.22.8%
2Verizon Communications Inc.22.6%
3T-Mobile US Inc.4.5%
4Level 3 Communications Inc.4.5%
5CenturyLink Inc.4.0%
6Windstream Holdings Inc.3.3%
7Sprint Corp.3.1%
8Zayo Group Holdings Inc.2.5%
9Frontier Communications Corp.2.0%
10Lumos Networks Corp.2.0%
Ten largest holdings = 71.3% of total net assets

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

Vanguard portfolio holdings disclaimer