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

SecurityVTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF
InstitutionMcAdam, LLC
Latest Disclosed Ownership77,130 shares
Latest Disclosed Value $ 3,848,011
McAdam, LLC reports 2.99% decrease in ownership of VTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF

On May 8, 2026 - McAdam, LLC filed a 13F-HR form disclosing ownership of 77,130 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF (US:VTEB) valued at $3,848,016 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 79,508 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF. This represents a change in shares of -2.99% during the quarter. The current value of the position is $3,884,267 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)
2026-05-08 2026-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 77,130 -2,378 -2.99 3,848 -3.75 0.1734
2026-02-13 2025-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 79,508 1,603 2.06 3,998 2.51 0.1830
2025-10-29 2025-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 77,905 -701 -0.89 3,901 1.19 0.1922
2025-07-15 2025-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 78,606 -7,054 -8.23 3,854 -9.32 0.2110
2025-05-21 2025-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 85,660 -34,811 -28.90 4,250 -29.62 0.2630
2025-01-24 2024-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 120,471 -1,217 -1.00 6,039 -2.91 0.3295
2024-10-22 2024-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 121,688 -2,522 -2.03 6,221 -0.06 0.3490
2024-07-24 2024-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 124,210 -2,228 -1.76 6,224 -2.70 0.3744
2024-04-23 2024-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 126,438 -2,307 -1.79 6,398 -2.66 0.4102
2024-02-05 2023-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 128,745 15,009 13.20 6,572 20.15 0.4739
2023-10-31 2023-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 113,736 9,003 8.60 5,471 4.01 0.4485
2023-08-02 2023-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 104,733 -6,820 -6.11 5,260 -6.94 0.4340
2023-04-24 2023-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 111,553 86,782 350.34 5,651 565,000.00 0.5087
2023-01-27 2022-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 24,771 -84,402 -77.31 1 -99.98 0.1341
2022-10-24 2022-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 109,173 -9,882 -8.30 5,256 -11.56 0.5698
2022-07-15 2022-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 119,055 4,484 3.91 5,943 0.63 0.6284
2022-04-07 2022-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 114,571 89,800 362.52 5,906 334.26 0.5585
2022-01-07 2021-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 24,771 1,101 4.65 1,360 4.94 0.1341
2021-10-05 2021-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 23,670 72 0.31 1,296 -1.07 0.1440
2021-08-02 2021-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 23,598 329 1.41 1,310 3.07 0.1486
2021-04-26 2021-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 23,269 134 0.58 1,271 -0.31 0.1792
2021-01-12 2020-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 23,135 884 3.97 1,275 5.28 0.1952
2020-11-13 2020-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 22,251 6,199 38.62 1,211 39.36 0.2302
2020-07-31 2020-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 16,052 9,195 134.10 869 139.39 0.1846
2020-05-08 2020-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 6,857 6,857 363 0.0976
2019-01-30 2018-12-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 0 -1,341 -100.00 0 -100.00
2018-10-10 2018-09-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 1,341 -1,398 -51.04 68 -51.43 0.0250
2018-08-22 2018-06-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 2,739 175 6.83 140 7.69 0.0570
2018-04-24 2018-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 2,564 2,564 130 0.0597
2017-10-12 2017-09-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 0 -4,141 -100.00 0 -100.00
2017-08-23 2017-06-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 4,141 -300 -6.76 212 -5.78 0.1722
2017-05-04 2017-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 4,441 96 2.21 225 3.21 0.2109
2017-02-10 2016-12-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 4,345 4,345 218 0.2159
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.