VANGUARD TAX-MANAGED FDS

Ticker: VEA CUSIP: 921943858 Class: Exchange Traded Fund

Note: Option positions (PUT/CALL) are excluded.

InstitutionSharesValue ($000)
BANK OF AMERICA CORP /DE/205,758,023$12,853,704
Betterment LLC138,588,366$8,658
Creative Planning124,175,031$7,757,214
MORGAN STANLEY90,491,038$5,652,975
ENVESTNET ASSET MANAGEMENT INC76,401,735$4,772,816
WELLS FARGO & COMPANY/MN64,314,341$4,017,717
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO61,886,335$3,866,039
Wealthfront Advisers LLC58,685,582$3,666,088
JONES FINANCIAL COMPANIES LLLP52,908,486$3,305,193
NORTHERN TRUST CORP51,950,297$3,245,335
WealthNavi Inc.49,538,873$3,095
ROYAL BANK OF CANADA42,271,448$2,640,699
Corient Private Wealth LLC34,849,543$1,668,308
MERCER GLOBAL ADVISORS INC /ADV34,844,186$2,175,185
Mariner, LLC32,997,394$2,061,428
CAPTRUST FINANCIAL ADVISORS30,166,421$1,884,496
LPL Financial LLC28,541,648$1,782,997
GOLDMAN SACHS GROUP INC28,224,383$1,763,177
UBS Group AG27,524,012$1,719,425
SEI INVESTMENTS CO25,669,235$1,603,556
VANGUARD GROUP INC23,397,538$1,461,644
TIAA TRUST, NATIONAL ASSOCIATION20,427,521$1,276,110
Baird Financial Group, Inc.20,114,092$1,256,527
Jasper Ridge Partners, L.P.19,780,576$1,235,693
Cerity Partners LLC19,343,762$1,208,405
COMMONWEALTH EQUITY SERVICES, LLC17,014,674$1,062,907
FMR LLC15,605,899$974,900
Adviser Investments LLC15,365,116$959,859
JPMORGAN CHASE & CO14,279,977$892,070
RAYMOND JAMES FINANCIAL INC14,278,396$891,971
Bank of New York Mellon Corp14,091,113$880,272
Wealthspire Advisors, LLC13,581,933$848,463
Facet Wealth, Inc.13,444,679$897,029
Nicholas Hoffman & Company, LLC.12,768,794$797,667
AMERIPRISE FINANCIAL INC12,559,141$784,148
Envestnet Portfolio Solutions, Inc.12,029,160$751,462
Valmark Advisers, Inc.11,930,938$745,326
MANUFACTURERS LIFE INSURANCE COMPANY, THE11,558,138$722,151
US BANCORP \DE\11,411,762$712,893
HighTower Advisors, LLC11,092,054$692,921
MONETA GROUP INVESTMENT ADVISORS LLC11,055,006$690,606
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV9,694,457$605,613
SCS Capital Management LLC9,489,679$592,820
Fisher Asset Management, LLC9,468,021$591,467
STIFEL FINANCIAL CORP8,991,350$561,691
PNC Financial Services Group, Inc.8,503,607$531,220
MML INVESTORS SERVICES, LLC8,346,613$521,413
REGIONS FINANCIAL CORP8,032,715$501,804
CLIFTONLARSONALLEN WEALTH ADVISORS, LLC7,957,746$497,120
Focus Partners Wealth7,879,679$491,887
HBK Sorce Advisory LLC7,766,637$523,238
Cetera Investment Advisers7,684,136$480,028
WIT, LLC7,490,656$467,941
COUNTRY TRUST BANK7,328,295$457,799
HUNTINGTON NATIONAL BANK7,058,413$440,939
JANE STREET GROUP, LLC7,027,316$438,996
KEYBANK NATIONAL ASSOCIATION/OH6,283,595$392,536
JMG Financial Group, Ltd.6,204,833$387,616
Voya Investment Management LLC5,763,869$360,069
M&T Bank Corp5,662,009$353,706
Modera Wealth Management, LLC5,505,632$343,937
CIBC Private Wealth Group, LLC5,308,961$331,651
ASSETMARK, INC5,268,081$329,097
ALLIANCEBERNSTEIN L.P.5,264,817$328,893
Ballentine Partners, LLC4,926,140$307,736
OSAIC HOLDINGS, INC.4,857,553$303,507
Fiduciary Trust Co4,821,786$301,217
WESTWOOD HOLDINGS GROUP INC4,754,095$296,988
Nearwater Capital Markets, Ltd4,714,850$294,537
Pathstone Holdings, LLC4,694,360$293,257
Rockefeller Capital Management L.P.4,662,433$291,262
Ally Invest Advisors Inc.4,604,747$287,658
NEPC LLC4,575,987$285,862
VANTAGEPOINT INVESTMENT ADVISERS LLC4,562,001$284,988
MAI Capital Management4,455,575$278,340
Linscomb & Williams, Inc.4,383,551$273,840
TFO Wealth Partners, LLC4,366,497$272,775
State of Tennessee, Department of Treasury4,321,161$286,061
Wedmont Private Capital4,308,564$275,231
BRIDGES INVESTMENT MANAGEMENT INC4,165,019$260,189
BRYN MAWR TRUST Co4,142,828$258,802
TRUIST FINANCIAL CORP3,876,842$242,186
Pinnacle Financial Partners, Inc.3,840,165$239,896
BlackRock, Inc.3,812,926$238,193
BANK OF HAWAII3,763,436$235,102
Savant Capital, LLC3,710,957$231,823
Johnson Financial Group, LLC3,658,192$228,527
D.A. DAVIDSON & CO.3,630,720$226,811
Truepoint, Inc.3,589,070$224,209
Janney Montgomery Scott LLC3,579,131$224
FARMERS & MERCHANTS INVESTMENTS INC3,549,570$221,742
BLB&B Advisors, LLC3,479,727$217,379
DV EQUITIES, LLC3,385,845$211,514
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC3,254,229$208,729
BNP PARIBAS ARBITRAGE, SA3,210,182$200,540
FIFTH THIRD BANCORP3,193,149$199,476
BLAIR WILLIAM & CO/IL3,148,531$196,689
Cambridge Investment Research Advisors, Inc.3,128,031$195
NATIONAL BANK OF CANADA /FI/3,081,773$192,509
Beacon Pointe Advisors, LLC3,037,258$189,738
2664 other institutions480,211,693$28,750,959
Total (2,764 institutions)2,366,356,337$134,031,303