Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF
US ˙ ARCA ˙ US9229077469

SecurityVTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF
InstitutionGarde Capital, Inc.
Latest Disclosed Ownership0 shares
Latest Disclosed Value $ 0
Garde Capital, Inc. closes position in VTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF

On February 10, 2026 - Garde Capital, Inc. filed a 13F-HR form disclosing ownership of 0 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF (US:VTEB) valued at $0 USD as of December 31, 2025. The entity filed a previous 13F-HR on December 16, 2025 disclosing 853,000 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF. The current value of the position is $0 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-10 2025-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 0 -100.00 0
2025-12-16 2025-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 853,000 -38,404 -4.31 42,710 -2.28 2.0787
2025-07-03 2025-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 891,404 -59,085 -6.22 43,706 -7.33 2.2832
2025-04-22 2025-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 950,489 950,489 47,163 2.6515
2020-11-17 2020-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 0 -468,634 -100.00 0 -100.00
2020-09-02 2020-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 468,634 12,709 2.79 25,372 5.20 3.6701
2020-05-08 2020-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 455,925 -23,592 -4.92 24,118 -6.06 4.2394
2020-02-14 2019-12-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 479,517 22,069 4.82 25,673 4.67 3.7267
2019-11-13 2019-09-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 457,448 36,087 8.56 24,528 9.69 3.8235
2019-08-20 2019-06-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 421,361 13,035 3.19 22,362 5.02 3.6598
2019-05-08 2019-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 408,326 3,078 0.76 21,294 2.93 3.6768
2019-02-20 2018-12-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 405,248 6,325 1.59 20,688 3.29 3.6646
2018-11-16 2018-09-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 398,923 -2,479 -0.62 20,030 -2.12 3.3682
2018-08-20 2018-06-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 401,402 52,716 15.12 20,463 15.48 3.5422
2018-05-16 2018-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 348,686 53,282 18.04 17,720 16.08 3.2186
2018-02-22 2017-12-31 13F VANGUARD TAX-EXEMPT BOND ETF ETF 922907746 295,404 25,392 9.40 15,265 9.43 2.8782
2017-11-17 2017-09-30 13F VANGUARD TAX-EXEMPT BOND ETF ETF 922907746 270,012 39,226 17.00 13,949 17.77 2.7377
2017-07-31 2017-06-30 13F VANGUARD TAX-EXEMPT BOND ETF ETF 922907746 230,786 16,717 7.81 11,844 9.26 2.9430
2017-05-17 2017-03-31 13F VANGUARD TAX-EXEMPT BOND ETF ETF 922907746 214,069 18,849 9.66 10,840 10.48 2.8948
2017-02-28 2016-12-31 13F VANGUARD TAX-EXEMPT BOND ETF ETF 922907746 195,220 195,220 9,812 2.8229
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.