Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 01/31/2017

1AT&T Inc.23.1%
2Verizon Communications Inc.20.7%
3T-Mobile US Inc.4.9%
4Level 3 Communications Inc.4.5%
5SBA Communications Corp.3.7%
6CenturyLink Inc.3.5%
7Sprint Corp.3.1%
8Telephone & Data Systems Inc.2.0%
9Zayo Group Holdings Inc.2.0%
10General Communication Inc.1.9%
Ten largest holdings = 69.4% of total net assets

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

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