VANGUARD MALVERN FDS

Ticker: VCRB CUSIP: 922020748 Class: Fixed Income ETF

Thayer Partners, LLC / MA's Holding History (CIK: 0002010185)

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

Q4 2025

Shares 29,200 Value ($000) $2,275 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	29,200	$2,275	—	—