Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 09/30/2016

1AT&T Inc.22.2%
2Verizon Communications Inc.22.1%
3T-Mobile US Inc.4.1%
4SBA Communications Corp.4.1%
5CenturyLink Inc.3.9%
6Level 3 Communications Inc.3.8%
7Sprint Corp.3.1%
8Windstream Holdings Inc.2.1%
9Frontier Communications Corp.2.1%
10NII Holdings Inc.2.0%
Ten largest holdings = 69.5% of total net assets

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

Vanguard portfolio holdings disclaimer