Vanguard Long-Term Tax-Exempt

Ticker: VWLTX CUSIP: 922907308 Class: Mutual Fund

Janney Montgomery Scott LLC's Holding History (CIK: 0001329948)

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

Q3 2014

Shares 11,038 Value ($000) $128,921 Avg Close — Range —

Q2 2014

Shares 11,093 Value ($000) $128,346 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	11,038	$128,921	—	—
Q2 2014	11,093	$128,346	—	—