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

Institutional Holders (2016Q2)
Portfolio Summary: 51 Institutional holders with a total value of $127,199,842.
#
Manager Name
Shares
Value ($)
%
Options
Notes
1 Charles Schwab Investment Advisory, Inc. 696,833 36,723,000 28.87%
2 BANK OF AMERICA CORP /DE/ 347,763 18,327,000 14.41%
3 SARGENT BICKHAM LAGUDIS LLC 264,621 13,946,000 10.96%
4 BRINKER CAPITAL INC 165,035 8,697,000 6.84%
5 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 120,326 6,341,000 4.99% PRN
6 UBS Group AG 93,408 4,923,000 3.87%
7 CARDAN CAPITAL PARTNERS, LLC 90,824 4,786,000 3.76%
8 OGOREK ANTHONY JOSEPH /NY/ /ADV 63,981 3,371,000 2.65%
9 ROYAL BANK OF CANADA 46,493 2,450,000 1.93%
10 Capital Investment Services of America, Inc. 46,200 2,435,000 1.91%
11 FDx Advisors, Inc. 41,897 2,208,000 1.74%
12 RAYMOND JAMES & ASSOCIATES 35,999 1,897,000 1.49%
13 NAPLES GLOBAL ADVISORS, LLC 32,930 1,735,000 1.36%
14 LPL Financial LLC 32,013 1,691,000 1.33%
15 BAIRD FINANCIAL GROUP, INC. 23,779 1,253,000 0.99%
16 BB&T SECURITIES, LLC 23,308 1,228,000 0.97%
17 Commonwealth Equity Services, Inc 22,662 1,194,000 0.94%
18 ACR Alpine Capital Research, LLC 21,788 1,148,000 0.90%
19 Eagle Ridge Investment Management 21,415 1,129,000 0.89%
20 Private Advisor Group, LLC 17,137 905,000 0.71%
21 ALESCO ADVISORS LLC 16,000 843,000 0.66%
22 Creative Planning 15,215 802,000 0.63%
23 ENVESTNET ASSET MANAGEMENT INC 14,882 784,000 0.62%
24 Bartlett & Co. LLC 13,310 701,000 0.55%
25 AMI INVESTMENT MANAGEMENT INC 12,965 683,000 0.54%
26 NewSquare Capital LLC 12,711 670,000 0.53%
27 Virtu KCG Holdings LLC 12,362 651,000 0.51%
28 Cetera Advisors LLC 10,510 553,000 0.43%
29 CHATHAM CAPITAL GROUP, INC. 10,125 534,000 0.42%
30 VANGUARD GROUP INC 9,674 510,000 0.40%
31 Advisory Services Network, LLC 9,400 495,000 0.39%
32 FOSTER & MOTLEY INC 9,324 491,000 0.39%
33 Private Harbour Investment Management & Counsel, LLC 8,440 445,000 0.35%
34 GAMBLE JONES INVESTMENT COUNSEL 8,175 431,000 0.34%
35 LADENBURG THALMANN FINANCIAL SERVICES INC. 7,751 408,000 0.32%
36 VICUS CAPITAL 7,364 388,000 0.31%
37 M&T BANK CORP 6,849 361,000 0.28%
38 JPMORGAN CHASE & CO 5,565 293,000 0.23%
39 STOKES & HUBBELL CAPITAL MANAGEMENT, LLC 4,680 247,000 0.19%
40 WELLS FARGO & COMPANY/MN 2,836 149,000 0.12%
41 SYNOVUS FINANCIAL CORP 1,910 101,000 0.08%
42 LAZARD ASSET MANAGEMENT LLC 1,900 100,000 0.08% PRN
43 MSI Financial Services Inc 1,234 65,000 0.05%
44 ADVISOR GROUP, INC. 748 39,000 0.03%
45 US BANCORP \DE\ 500 26,000 0.02%
46 Sandy Spring Bank 300 16,000 0.01%
47 North Star Investment Management Corp. 197 10,000 0.01%
48 MANUFACTURERS LIFE INSURANCE COMPANY, THE 112 6,000 0.00%
49 MORGAN STANLEY 87 5,000 0.00%
50 FIFTH THIRD BANCORP 95 5,000 0.00%
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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.