Vanguard Telecommunication Services ETF (VOX)

Quarter-End Holdings as of 10/31/2017

1Verizon Communications Inc.23.1%
2AT&T Inc.20.8%
3Level 3 Communications Inc.4.6%
4T-Mobile US Inc.4.4%
5CenturyLink Inc.3.4%
6Zayo Group Holdings Inc.3.1%
7Cogent Communications Holdings Inc.2.7%
8Shenandoah Telecommunications Co.2.6%
9Sprint Corp.2.5%
10Iridium Communications Inc.2.5%
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