Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF
US ˙ ARCA ˙ US9229077469

SecurityVTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF
InstitutionLinscomb & Williams, Inc.
Latest Disclosed Ownership129,507 shares
Latest Disclosed Value $ 6,461,105
Linscomb & Williams, Inc. reports 86.47% increase in ownership of VTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF

On May 11, 2026 - Linscomb & Williams, Inc. filed a 13F-HR form disclosing ownership of 129,507 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF (US:VTEB) valued at $6,461,104 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 10, 2026 disclosing 69,451 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF. This represents a change in shares of 86.47% during the quarter. The current value of the position is $6,521,973 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-11 2026-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 129,507 60,056 86.47 6,461 85.02 0.2875
2026-02-10 2025-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 69,451 2,658 3.98 3,493 4.43 0.1466
2025-11-05 2025-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 66,793 4,366 6.99 3,344 9.28 0.1441
2025-08-04 2025-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 62,427 1,580 2.60 3,061 1.36 0.1407
2025-05-12 2025-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 60,847 10,586 21.06 3,019 19.85 0.1504
2025-02-05 2024-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 50,261 6,336 14.42 2,520 12.20 0.1254
2024-11-06 2024-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 43,925 3,154 7.74 2,245 9.89 0.1113
2024-08-07 2024-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 40,771 7,531 22.66 2,043 21.53 0.1057
2024-05-14 2024-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 33,240 6,435 24.01 1,682 22.88 0.0865
2024-02-06 2023-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 26,805 -42,681 -61.42 1,368 -59.07 0.0753
2023-10-10 2023-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 69,486 -11,998 -14.72 3,342 -18.33 0.1955
2023-08-09 2023-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 81,484 -18,329 -18.36 4,092 -19.07 0.2208
2023-05-11 2023-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 99,813 5,205 5.50 5,057 7.99 0.2652
2023-02-14 2022-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 94,608 1,018 1.09 4,682 3.93 0.2377
2022-11-09 2022-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 93,590 34,618 58.70 4,505 53.02 0.2735
2022-08-15 2022-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 58,972 19,139 48.05 2,944 43.40 0.1688
2022-05-17 2022-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 39,833 -17,754 -30.83 2,053 -35.07 0.0981
2022-02-10 2021-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD COM 922907746 57,587 5,796 11.19 3,162 11.46 0.1509
2021-11-03 2021-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD COM 922907746 51,791 18,055 53.52 2,837 52.04 0.1462
2021-08-10 2021-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD COM 922907746 33,736 9,687 40.28 1,866 42.01 0.0955
2021-05-12 2021-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD COM 922907746 24,049 1,220 5.34 1,314 4.29 0.0715
2021-02-11 2020-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD COM 922907746 22,829 338 1.50 1,260 2.94 0.0753
2020-11-13 2020-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD COM 922907746 22,491 730 3.35 1,224 3.90 0.0843
2020-08-11 2020-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD COM 922907746 21,761 4,803 28.32 1,178 31.33 0.0862
2020-05-11 2020-03-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 16,958 -4,070 -19.36 897 -20.34 0.0793
2020-02-13 2019-12-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 21,028 8,682 70.32 1,126 70.09 0.0735
2019-11-08 2019-09-30 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 12,346 824 7.15 662 8.35 0.0532
2019-08-06 2019-06-30 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 11,522 604 5.53 611 7.38 0.0501
2019-05-09 2019-03-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 0 0.00 569 2.15 0.0479
2019-02-08 2018-12-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 0 0.00 557 1.09 0.0527
2018-11-08 2018-09-30 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 0 0.00 551 -1.08 0.0452
2018-08-07 2018-06-30 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 0 0.00 557 0.36 0.0474
2018-05-04 2018-03-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 0 0.00 555 -1.60 0.0472
2018-02-02 2017-12-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 0 0.00 564 0.00 0.0463
2017-10-27 2017-09-30 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 0 0.00 564 0.71 0.0484
2017-08-15 2017-06-30 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 10,918 10,918 560 0.0501
2017-04-28 2017-03-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 0 -5,090 -100.00 0 -100.00
2017-02-07 2016-12-31 13F VANGUARD MUN BD FD INC TAX EXEMPT BD COM 922907746 5,090 5,090 256 0.0238
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.