Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 12/31/2017

1Verizon Communications Inc.24.3%
2AT&T Inc.24.1%
3CenturyLink Inc.5.2%
4T-Mobile US Inc.4.5%
5Zayo Group Holdings Inc.3.3%
6Vonage Holdings Corp.2.9%
7Sprint Corp.2.6%
8Iridium Communications Inc.2.5%
9Telephone & Data Systems Inc.2.4%
10Shenandoah Telecommunications Co.2.3%
Ten largest holdings = 74.1% of total net assets

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

Vanguard portfolio holdings disclaimer