Vanguard Target Retirement 2040 Fund

Ticker: VFORX CUSIP: 92202E870 Class: Mutual Fund

Holders for Q4 2025 Position Changes for Q4 2025

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

Decreased Positions (1)

Grey Fox Wealth Advisors, LLC
Value ($000) $3,399 (-2.1%) Shares 68,040 (-10.3%)