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VANGUARD TAX-MANAGED FDS
VANGUARD TAX-MANAGED FDS. Institutional holdings reported to the SEC.

Institutional Holders (2017Q2)
Portfolio Summary: 844 Institutional holders with a total value of $40,768,682,205.
#
Manager Name
Shares
Value ($)
%
Options
Notes
101 Parkwood LLC 1,078,726 44,573,000 0.11%
102 FARMERS & MERCHANTS INVESTMENTS INC 1,072,045 44,297,000 0.11%
103 BLUE CREEK INVESTMENT PARTNERS, LLC 1,053,343 43,524,000 0.11%
104 MUFG Americas Holdings Corp 1,047,077 43,264,000 0.11%
105 BADGLEY PHELPS & BELL INC 1,041,415 43,031,000 0.11%
106 OMNIA FAMILY WEALTH, LLC 1,014,986 41,939,000 0.10%
107 FAIRFIELD UNIVERSITY 990,029 40,908,000 0.10%
108 Bridgewater Wealth & Financial Management, LLC 985,067 40,703,000 0.10%
109 GENOVESE BURFORD & BROTHERS WEALTH & RETIREMENT PLAN MANAGEMENT, LLC 962,340 39,763,000 0.10%
110 FUSION FAMILY WEALTH, LLC 942,504 38,944,000 0.10% SH
111 PROFFITT & GOODSON INC 934,772 38,625,000 0.09%
112 RELIANCE TRUST CO OF DELAWARE 895,417 36,999,000 0.09%
113 Fiera Capital Corp 891,433 36,835,000 0.09%
114 LVW Advisors, LLC 870,608 35,973,000 0.09%
115 DT Investment Partners, LLC 862,214 35,626,000 0.09%
116 SIGNATURE ESTATE & INVESTMENT ADVISORS LLC 845,754 34,947,000 0.09%
117 BLAIR WILLIAM & CO/IL 843,369 34,848,000 0.09%
118 ASPIRIANT, LLC 819,161 33,848,000 0.08%
119 HERITAGE TRUST CO 816,125 33,714,000 0.08%
120 State of Tennessee, Department of Treasury 807,600 33,370,000 0.08%
121 SARGENT BICKHAM LAGUDIS LLC 795,167 32,856,000 0.08%
122 Freestone Capital Holdings, LLC 791,832 32,719,000 0.08%
123 SIMMONS BANK 780,315 32,243,000 0.08%
124 ARIEL INVESTMENTS, LLC 777,393 32,122,000 0.08%
125 BROWN ADVISORY INC 769,735 31,806,000 0.08%
126 BOK Financial Private Wealth, Inc. 767,680 31,721,000 0.08%
127 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 765,254 31,620,000 0.08%
128 Wind River Trust Co 763,884 31,564,000 0.08%
129 TRUIST FINANCIAL CORP 748,125 30,913,000 0.08%
130 GRIMES & Co WEALTH MANAGEMENT, LLC 743,393 30,717,000 0.08%
131 PARK AVENUE SECURITIES LLC 738,870 30,397,000 0.07%
132 JNBA Financial Advisors 727,798 30,073,000 0.07%
133 BRONFMAN E.L. ROTHSCHILD, L.P. 719,814 29,743,000 0.07%
134 MERIDIAN MANAGEMENT CO 716,722 29,615,000 0.07%
135 McNamara Financial Services, Inc. 713,699 29,490,000 0.07%
136 Wallington Asset Management, LLC 700,244 28,934,000 0.07%
137 Legacy Private Trust Co. 698,855 28,877,000 0.07%
138 VICTORY CAPITAL MANAGEMENT INC 698,493 28,862,000 0.07%
139 FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC 694,952 28,715,000 0.07%
140 Caprock Group, LLC 693,455 28,654,000 0.07%
141 FIDUCIARY WEALTH PARTNERS, LLC 689,120 28,474,000 0.07%
142 Carlson Capital Management 672,477 27,787,000 0.07%
143 JANICZEK WEALTH MANAGEMENT, LLC 670,445 27,703,000 0.07%
144 BB&T INVESTMENT SERVICES, INC. 663,784 27,451,000 0.07%
145 TD ASSET MANAGEMENT INC 653,597 27,320,000 0.07%
146 Wealth Architects, LLC 624,939 25,822,000 0.06%
147 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 624,878 25,819,959 0.06%
148 FMR LLC 599,169 24,758,000 0.06%
149 Pure Financial Advisors, LLC 597,241 24,678,000 0.06%
150 WAYNE HUMMER INVESTMENTS L.L.C. 573,621 23,702,000 0.06%
Page 3 of 17

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.