Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 06/30/2017

1AT&T Inc.22.4%
2Verizon Communications Inc.22.1%
3Level 3 Communications Inc.4.5%
4CenturyLink Inc.4.2%
5T-Mobile US Inc.4.1%
6Sprint Corp.3.0%
7Zayo Group Holdings Inc.2.6%
8ORBCOMM Inc.2.4%
9Iridium Communications Inc.2.2%
10Globalstar Inc.2.2%
Ten largest holdings = 69.7% of total net assets

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

Vanguard portfolio holdings disclaimer