VANGUARD MALVERN FDS

Ticker: VGVT CUSIP: 922020714 Class: GOVERNMENT SECUR

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (5)

Duncan Williams Asset Management, LLC
Value ($000) $334 Shares 4,396
Arete Wealth Advisors, LLC
Value ($000) $1 Shares 13,302
JANE STREET GROUP, LLC
Value ($000) $201 Shares 2,643
UBS Group AG
Value ($000) $5 Shares 67
AE Wealth Management LLC
Value ($000) $1 Shares 18

Increased Positions (1)

CPA Asset Management LLC
Value ($000) $12,049 (+191.7%) Shares 158,447 (+193.0%)

Decreased Positions (1)

SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $2,081 (-41.3%) Shares 27,370 (-41.0%)

Exited Positions (2)

Meridian Wealth Partners, LLC
Value ($000) $393 Shares 5,141
MATHER GROUP, LLC.
Value ($000) $5 Shares 66