Vault-13

VANGUARD MUN BD FDS VTEI

INTERMEDIATE TRM · ETP · CUSIP 922907738

175 institutional holders +19 vs Q1 2026
7,990,2848.0m shares reported held*
$806.7mreported value*
30 new 83 added 37 reduced 11 sold out net bought ≈ $61.2m (+607.7k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $100.96.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q1 24: 7Q2 24: 20Q3 24: 32Q4 24: 62Q1 25: 78Q2 25: 89Q3 25: 110Q4 25: 144Q1 26: 156Q2 26: 175175Q1 24Q3 24Q1 25Q3 25Q1 26Q2 26
Numbers
QuarterHolders
Q1 20247
Q2 202420
Q3 202432
Q4 202462
Q1 202578
Q2 202589
Q3 2025110
Q4 2025144
Q1 2026156
Q2 2026175

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q3 24: 26 bought or addedQ3 24: 5 cut or sold outQ4 24: 42 bought or addedQ4 24: 8 cut or sold outQ4 24Q1 25: 56 bought or addedQ1 25: 15 cut or sold outQ2 25: 63 bought or addedQ2 25: 25 cut or sold outQ2 25Q3 25: 82 bought or addedQ3 25: 24 cut or sold outQ4 25: 107 bought or addedQ4 25: 23 cut or sold outQ4 25Q1 26: 113 bought or addedQ1 26: 33 cut or sold outQ2 26: 113 bought or addedQ2 26: 48 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024265
Q4 2024428
Q1 20255615
Q2 20256325
Q3 20258224
Q4 202510723
Q1 202611333
Q2 202611348

Biggest buyers

HALL CAPITAL MANAGEMENT CO INC New +146,836+146.8k
BANK OF AMERICA CORP /DE/ Added +129,158+129.2k
KEYVANTAGE WEALTH, LLC Added +80,301+80.3k
Merit Financial Group, LLC Added +51,847+51.8k
Hassell Wealth Management, LLC Added +38,926+38.9k
ENVESTNET ASSET MANAGEMENT INC Added +37,076+37.1k
Cerity Partners LLC Added +23,185+23.2k
Aspire Private Capital, LLC Added +19,334+19.3k
Unison Advisors LLC Added +18,172+18.2k
HighTower Advisors, LLC Added +17,856+17.9k

Biggest sellers

JANE STREET GROUP, LLC Reduced -84,755-84.8k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -28,877-28.9k
TIAA Wealth Investment Management LLC Reduced -24,299-24.3k
JPMORGAN CHASE & CO Sold out -20,081-20.1k
FERGUSON WELLMAN CAPITAL MANAGEMENT, INC Reduced -18,499-18.5k
CITADEL ADVISORS LLC Reduced -14,617-14.6k
Equitable Holdings, Inc. Reduced -12,542-12.5k
FLOW TRADERS U.S. LLC Sold out -10,865-10.9k
OPPENHEIMER & CO INC Reduced -7,309-7.3k
RAYMOND JAMES FINANCIAL INC Reduced -6,645-6.6k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Unison Advisors LLC 16.80% of their portfolio PROVIDENCE, RI 2,386,1242.4m $240.9m $240.9m 16.80% Added +18.2k +18,172
2 FERGUSON WELLMAN CAPITAL MANAGEMENT, INC 0.69% of their portfolio PORTLAND, OR 561,581561.6k $56.7m $56.7m 0.69% Reduced -18.5k -18,499
3 TIAA Wealth Investment Management LLC 0.28% of their portfolio New York, NY 414,611414.6k $41.9m $41.9m 0.28% Reduced -24.3k -24,299
4 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 383,067383.1k $38.7m $38.7m 0.01% Added +37.1k +37,076
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 334,859334.9k $33.8m $33.8m 0.00% Added +129.2k +129,158
6 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 246,117246.1k $24.9m $24.9m 0.03% Added +11.4k +11,357
7 Joel Isaacson & Co., LLC 0.70% of their portfolio NEW YORK, NY 240,333240.3k $24.3m $24.3m 0.70% Added +8.8k +8,781
8 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 236,290236.3k $23.9m $23.9m 0.02% Added +17.9k +17,856
9 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 203,435203.4k $20.5m $20.5m 0.02% Added +5.3k +5,345
10 Avantax Planning Partners, Inc. 0.47% of their portfolio DUBUQUE, IA 187,307187.3k $18.9m $18.9m 0.47% Reduced -3.0k -3,000
11 SEEDS INVESTOR LLC 1.70% of their portfolio NEW YORK, NY 163,498163.5k $16.5m $16.5m 1.70% Reduced -103 -103
12 HALL CAPITAL MANAGEMENT CO INC 4.62% of their portfolio BARRINGTON, RI 146,836146.8k $14.8m $14.8m 4.62% New
13 Merit Financial Group, LLC 0.09% of their portfolio ALPHARETTA, GA 139,584139.6k $14.1m $14.1m 0.09% Added +51.8k +51,847
14 Aspire Private Capital, LLC 2.86% of their portfolio Cornelius, NC 137,153137.2k $13.8m $13.8m 2.86% Added +19.3k +19,334
15 Equitable Holdings, Inc. 0.08% of their portfolio NEW YORK, NY 126,352126.4k $12.8m $12.8m 0.08% Reduced -12.5k -12,542
16 KEYVANTAGE WEALTH, LLC 3.61% of their portfolio BETHLEHEM, PA 94,42494.4k $9.5m $9.5m 3.61% Added +80.3k +80,301
17 FIRST FINANCIAL BANK - TRUST DIVISION 0.63% of their portfolio HAMILTON, OH 87,05587.1k $8.8m $8.8m 0.63% Added +11.7k +11,734
18 Heartwood Wealth Advisors LLC 0.64% of their portfolio RICHMOND, VA 81,42581.4k $8.2m $8.2m 0.64% Added +8.8k +8,832
19 Silver Oak Advisory Group, Inc. 2.92% of their portfolio PORTLAND, OR 73,23273.2k $7.4m $7.4m 2.92% Added +11.6k +11,629
20 Atria Investments, Inc 0.07% of their portfolio Charlotte, NC 67,44967.4k $6.8m $6.8m 0.07% Added +4.2k +4,162
21 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 65,92665.9k $6.7m $6.7m 0.00% Added +17.1k +17,055
22 Ashton Thomas Private Wealth, LLC 0.14% of their portfolio SCOTTSDALE, AZ 64,47864.5k $6.5m $6.5m 0.14% Reduced -1.2k -1,174
23 S.A. Mason LLC 1.97% of their portfolio HOLLAND, MI 63,40763.4k $6.4m $6.4m 1.97% Added +8.1k +8,121
24 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 60,90160.9k $6.1m $6.1m 0.00% Added +9.1k +9,056
25 C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.28% of their portfolio Westlake, OH 55,97356.0k $5.7m $5.7m 0.28% Added +3.2k +3,235
26 Apella Capital, LLC 0.08% of their portfolio WEST HARTFORD, CT 55,56455.6k $5.6m $5.6m 0.08% Reduced -100 -100
27 Hassell Wealth Management, LLC 1.63% of their portfolio Houma, LA 52,92252.9k $5.3m $5.3m 1.63% Added +38.9k +38,926
28 Seed Wealth Management, Inc. 3.15% of their portfolio EVANSTON, IL 49,33549.3k $5.0m $5.0m 3.15% Reduced -550 -550
29 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 48,00748.0k $4.8m $4.8m 0.01% Added +1.9k +1,854
30 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 39,32339.3k $4.0m $4.0m 0.00% Added +23.2k +23,185
31 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 38,31338.3k $3.9m $3.9m 0.00% Reduced -6.6k -6,645
32 Verus Financial Partners, Inc. 0.32% of their portfolio RICHMOND, VA 37,42537.4k $3.8m $3.8m 0.32% Added +8.4k +8,409
33 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 32,04132.0k $3.2m $3.2m 0.00% Added +12.8k +12,779
34 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 27,36727.4k $2.8m $2.8m 0.00% Added +313 +313
35 Integrity Wealth Solutions LLC 0.90% of their portfolio DENVER, CO 24,00424.0k $2.4m $2.4m 0.90% Added +623 +623
36 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 22,92222.9k $2.3m $2.3m 0.00% Added +7.1k +7,090
37 Mariner, LLC 0.00% of their portfolio Overland Park, KS 22,47022.5k $2.3m $2.3m 0.00% Reduced -784 -784
38 TCI Wealth Advisors, Inc. 0.09% of their portfolio Tucson, AZ 21,27821.3k $2.1m $2.1m 0.09% Added +5 +5
39 Timonier Family Office, LTD. 0.59% of their portfolio WINSTON SALEM, NC 20,80320.8k $2.1m $2.1m 0.59% First filing
40 Elser Financial Planning, Inc 0.09% of their portfolio INDIANAPOLIS, IN 19,95220.0k $2.0m $2.0m 0.09% Added +12.9k +12,920
41 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 19,68219.7k $2.0m $2.0m 0.00% Reduced -14.6k -14,617
42 Frankly Finances, LLC 1.54% of their portfolio WINTER PARK, FL 19,29519.3k $1.9m $1.9m 1.54% Added +4.5k +4,476
43 Elequin Capital, LP 0.06% of their portfolio NEW YORK, NY 18,37818.4k $1.9m $1.9m 0.06% Added +6.0k +6,017
44 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 17,49417.5k $1.8m $1.8m 0.01% Added +5.4k +5,423
45 HARBOUR INVESTMENTS, INC. 0.02% of their portfolio MADISON, WI 17,25717.3k $1.7m $1.7m 0.02% Added +3.5k +3,457
46 Oak Wealth Advisors LLC 0.83% of their portfolio NORTHBROOK, IL 17,19417.2k $1.7m $1.7m 0.83% Reduced -199 -199
47 First Heartland Consultants, Inc. 0.11% of their portfolio LAKE ST. LOUIS, MO 17,17017.2k $1.7m $1.7m 0.11% Reduced -1.9k -1,928
48 FINANCIAL MANAGEMENT NETWORK INC 0.24% of their portfolio MISSION VIEJO, CA 16,64116.6k $1.7m $1.7m 0.24% Added +362 +362
49 SigFig Wealth Management, LLC 0.04% of their portfolio SAN FRANCISCO, CA 16,63716.6k $1.7m $1.7m 0.04% Added +1.4k +1,438
50 Paragon Capital Management Ltd 0.31% of their portfolio DENVER, CO 16,37116.4k $1.7m $1.7m 0.31% Reduced -991 -991
51 &PARTNERS 0.01% of their portfolio NASHVILLE, TN 16,29516.3k $1.6m $1.6m 0.01% Added +6.6k +6,595
52 GENESIS PRIVATE WEALTH, LLC 0.45% of their portfolio ASHBURN, VA 15,81215.8k $1.6m $1.6m 0.45% Added +2.1k +2,068
53 Compound Planning, Inc. 0.04% of their portfolio NEW YORK, NY 15,11915.1k $1.5m $1.5m 0.04% Added +8.7k +8,737
54 A. D. Beadell Investment Counsel, Inc. 0.94% of their portfolio MEQUON, WI 14,47514.5k $1.5m $1.5m 0.94% Added +650 +650
55 Avidian Wealth Enterprises, LLC 0.04% of their portfolio Houston, TX 14,31314.3k $1.4m $1.4m 0.04% New
56 Freedom Investment Management, Inc. 0.40% of their portfolio SOUTH WINDSOR, CT 14,30914.3k $1.4m $1.4m 0.40% Reduced -249 -249
57 Valeo Financial Advisors, LLC 0.03% of their portfolio CARMEL, IN 14,06414.1k $1.4m $1.4m 0.03% Reduced -684 -684
58 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 13,97614.0k $1.4m $1.4m 0.01% Added +2.5k +2,498
59 MITCHELL MCLEOD PUGH & WILLIAMS INC 0.17% of their portfolio MOBILE, AL 13,77513.8k $1.4m $1.4m 0.17% Added +8 +8
60 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 13,68213.7k $1.4m $1.4m 0.01% Reduced -7.3k -7,309
61 Vanguard National Trust Co 0.07% of their portfolio MALVERN, PA 13,60613.6k $1.4m $1.4m 0.07% New
62 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 13,49813.5k $1.4m $1.4m 0.00% Reduced -84.8k -84,755
63 Sheridan Capital Management, LLC 0.58% of their portfolio San Rafael, CA 12,02512.0k $1.2m $1.2m 0.58% Reduced -2.5k -2,475
64 STONE LOFT WEALTH MANAGEMENT LLC 0.66% of their portfolio WEST CHESTER, PA 11,59911.6k $1.2m $1.2m 0.66% Added +157 +157
65 Clearstead Advisors, LLC 0.01% of their portfolio CLEVELAND, OH 11,08411.1k $1.1m $1.1m 0.01% Unchanged
66 FLAGSHIP HARBOR ADVISORS, LLC 0.04% of their portfolio BOSTON, MA 10,99511.0k $1.1m $1.1m 0.04% Unchanged
67 Bryn Mawr Trust Advisors, LLC 0.05% of their portfolio PHILADELPHIA, PA 10,87210.9k $1.1m $1.1m 0.05% Unchanged
68 JFS WEALTH ADVISORS, LLC 0.05% of their portfolio HERMITAGE, PA 10,71510.7k $1.1m $1.1m 0.05% Unchanged
69 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 10,48110.5k $1.1m $1.1m 0.01% Reduced -21 -21
70 Alesco Advisors, LLC, An ESL Co 0.02% of their portfolio Pittsford, NY 10,44010.4k $1.1m $1.1m 0.02% Added +3.2k +3,185
71 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 10,39710.4k $1.1m $1.1m 0.00% Added +4.2k +4,246
72 IAM Advisory, LLC 0.20% of their portfolio EASTON, PA 10,15510.2k $1.0m $1.0m 0.20% Added +123 +123
73 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 10,13310.1k $1.0m $1.0m 0.01% Added +1.8k +1,797
74 Retirement Planning Group, LLC 0.03% of their portfolio LEAWOOD, KS 10,12010.1k $1.0m $1.0m 0.03% Unchanged
75 Sprinkle Financial Consultants LLC 0.40% of their portfolio LITTLETON, CO 10,10310.1k $1.0m $1.0m 0.40% Added +77 +77
76 HBK Sorce Advisory LLC 0.02% of their portfolio ERIE, PA 9,7839.8k $971.7k $971.7k 0.02% Unchanged
77 VISTA CAPITAL PARTNERS, INC. 0.08% of their portfolio PORTLAND, OR 9,5689.6k $966.1k $966.1k 0.08% Unchanged
78 STEPHEN J. GARRY & ASSOCIATES, LLC 0.69% of their portfolio GARDEN CITY, NY 9,3259.3k $941.5k $941.5k 0.69% Reduced -450 -450
79 SIGNAL TREE FINANCIAL PARTNERS LLC 0.61% of their portfolio COPLEY, OH 9,1899.2k $927.8k $927.8k 0.61% Unchanged
80 CORA CAPITAL ADVISORS LLC 0.25% of their portfolio MARLTON, NJ 8,8418.8k $892.7k $892.7k 0.25% Unchanged
81 FIRST MANHATTAN CO. LLC. 0.00% of their portfolio NEW YORK, NY 8,5008.5k $858.2k $858.2k 0.00% New
82 Sequent Planning LLC 0.18% of their portfolio OMAHA, NE 8,4628.5k $854.4k $854.4k 0.18% Added +1.3k +1,275
83 CFS Investment Advisory Services, LLC 0.06% of their portfolio TOTOWA, NJ 8,3778.4k $845.2k $845.2k 0.06% New
84 Tribridge Partners Financial LLC 0.32% of their portfolio COLUMBIA, MD 8,2688.3k $821.2k $821.2k 0.32% Added +874 +874
85 Chicago Partners Investment Group LLC 0.02% of their portfolio CHICAGO, IL 7,7417.7k $766.4k $766.4k 0.02% Added +5.0k +4,960
86 Beacon Pointe Advisors, LLC 0.00% of their portfolio NEWPORT BEACH, CA 7,7187.7k $779.3k $779.3k 0.00% Reduced -6.6k -6,589
87 PEAPACK GLADSTONE FINANCIAL CORP 0.01% of their portfolio BEDMINSTER, NJ 7,7057.7k $778.0k $778.0k 0.01% Unchanged
88 Rossmore Private Capital 0.06% of their portfolio GLASTONBURY, CT 7,6857.7k $776.0k $776.0k 0.06% Unchanged
89 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 7,6627.7k $773.6k $773.6k 0.00% Reduced -332 -332
90 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 7,5527.6k $762.0k $762.0k 0.00% Added +3.8k +3,776
91 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 6,8446.8k $688.0k $688.0k 0.00% Added +44 +44
92 BENJAMIN EDWARDS INC 0.01% of their portfolio Clayton, MO 6,8246.8k $690.4k $690.4k 0.01% Added +772 +772
93 55 North Private Wealth, LLC 0.13% of their portfolio WINTER PARK, FL 6,3776.4k $643.8k $643.8k 0.13% Added +2.8k +2,769
94 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 6,3666.4k $642.8k $642.8k 0.00% Added +200 +200
95 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 5,9275.9k $598.4k $598.4k 0.00% Reduced -995 -995
96 PRINCIPAL SECURITIES, INC. 0.01% of their portfolio DES MOINES, IA 5,8565.9k $591.3k $591.3k 0.01% New
97 D.B. Root & Company, LLC 0.12% of their portfolio PITTSBURGH, PA 5,7655.8k $582.0k $582.0k 0.12% Added +740 +740
98 Midwest Financial Network, LLC 0.39% of their portfolio TINLEY PARK, IL 5,5985.6k $565.2k $565.2k 0.39% Added +3.0k +3,031
99 Crews Bank & Trust 0.07% of their portfolio PORT CHARLOTTE, FL 5,5155.5k $556.9k $556.9k 0.07% Unchanged
100 CHAPMAN FINANCIAL GROUP, LLC 0.36% of their portfolio KAILUA, HI 5,4255.4k $547.8k $547.8k 0.36% Added +1.0k +1,000