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VANGUARD MUN BD FDS
VANGUARD MUN BD FDS. Institutional holdings reported to the SEC.

Institutional Holders (2016Q1)
Portfolio Summary: 40 Institutional holders with a total value of $86,418,000.
#
Manager Name
Shares
Value ($)
%
Options
Notes
1 BANK OF AMERICA CORP /DE/ 364,196 18,738,000 21.68%
2 Charles Schwab Investment Advisory, Inc. 266,629 13,718,000 15.87%
3 SARGENT BICKHAM LAGUDIS LLC 230,850 11,877,000 13.74%
4 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 123,199 6,339,000 7.34% PRN
5 CARDAN CAPITAL PARTNERS, LLC 88,332 4,545,000 5.26%
6 Raymond James Financial Services Advisors, Inc. 85,135 4,380,000 5.07%
7 FDx Advisors, Inc. 55,060 2,833,000 3.28%
8 LPL Financial LLC 44,635 2,301,000 2.66%
9 Capital Investment Services of America, Inc. 38,200 1,965,000 2.27%
10 EAGLE ASSET MANAGEMENT INC 121,703 1,947,000 2.25%
11 UBS Group AG 37,501 1,929,000 2.23%
12 RAYMOND JAMES & ASSOCIATES 31,730 1,633,000 1.89%
13 NAPLES GLOBAL ADVISORS, LLC 31,000 1,595,000 1.85%
14 Atria Investments, Inc 24,326 1,252,000 1.45%
15 JPMORGAN CHASE & CO 21,240 1,093,000 1.26%
16 BB&T SECURITIES, LLC 19,911 1,024,000 1.18%
17 ENVESTNET ASSET MANAGEMENT INC 17,385 894,000 1.03%
18 BAIRD FINANCIAL GROUP, INC. 16,436 846,000 0.98%
19 Creative Planning 15,467 796,000 0.92%
20 GAMBLE JONES INVESTMENT COUNSEL 14,000 720,000 0.83%
21 Commonwealth Equity Services, Inc 12,402 638,000 0.74%
22 Private Advisor Group, LLC 12,175 626,000 0.72%
23 ALESCO ADVISORS LLC 11,875 611,000 0.71%
24 AMI INVESTMENT MANAGEMENT INC 11,804 607,000 0.70%
25 Cetera Advisors LLC 10,430 535,000 0.62%
26 FOSTER & MOTLEY INC 9,494 488,000 0.56%
27 VANGUARD GROUP INC 8,295 427,000 0.49%
28 JANE STREET GROUP, LLC 7,999 412,000 0.48%
29 Eagle Ridge Investment Management 6,110 314,000 0.36%
30 Virtu KCG Holdings LLC 5,238 269,000 0.31%
31 VICUS CAPITAL 4,675 241,000 0.28%
32 STOKES & HUBBELL CAPITAL MANAGEMENT, LLC 3,980 205,000 0.24%
33 NewSquare Capital LLC 3,380 174,000 0.20%
34 ROYAL BANK OF CANADA 3,234 166,000 0.19%
35 LADENBURG THALMANN FINANCIAL SERVICES INC. 2,272 117,000 0.14%
36 MSI Financial Services Inc 1,644 85,000 0.10%
37 AMERICAN INTERNATIONAL GROUP, INC. 527 27,000 0.03%
38 US BANCORP \DE\ 500 26,000 0.03%
39 Sandy Spring Bank 300 15,000 0.02%
40 North Star Investment Management Corp. 196 10,000 0.01%

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.