Vanguard® Limited-Term Tax-Exempt Fund
Schedule of Investments (unaudited)
As of January 31, 2025
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
Tax-Exempt Municipal Bonds (98.1%)
Alabama (5.9%)
  Alabama Corrections Institution Finance Authority Lease (Appropriation) Revenue 5.000%   7/1/26      1,250      1,284
  Alabama Corrections Institution Finance Authority Lease (Appropriation) Revenue 5.000%   7/1/27      1,410      1,474
  Alabama Corrections Institution Finance Authority Lease (Appropriation) Revenue 5.000%   7/1/28      1,365      1,450
  Alabama Corrections Institution Finance Authority Lease (Appropriation) Revenue 5.000%   7/1/29      2,230      2,405
  Alabama Housing Finance Authority Local or Guaranteed Housing Revenue (Cooper Green Homes Project) PUT 5.000%   2/1/28      1,345      1,405
  Alabama Housing Finance Authority Local or Guaranteed Housing Revenue (Forest Hills Village Project) PUT 5.000%  11/1/26      3,375      3,472
  Alabama Public School & College Authority Sales Tax Revenue 5.000%   1/1/27     10,000     10,018
  Auburn University College & University Revenue 3.250%   6/1/31        390        383
  Auburn University College & University Revenue 4.000%   6/1/35      2,800      2,801
  Baptist Health Care Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/25        675        683
  Baptist Health Care Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      1,480      1,524
  Baptist Health Care Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      1,780      1,850
  Baptist Health Care Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/28      1,855      1,948
  Baptist Health Care Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/30      2,030      2,169
1 Birmingham Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/27      1,510      1,586
  Birmingham Water Works Board Water Revenue 5.000%   1/1/30        800        871
  Birmingham-Jefferson Civic Center Authority Special Tax Revenue 3.000%   7/1/26      1,470      1,456
  Black Belt Energy Gas District Natural Gas Revenue 4.000%   6/1/25        250        250
  Black Belt Energy Gas District Natural Gas Revenue 4.000%  10/1/25      4,265      4,281
  Black Belt Energy Gas District Natural Gas Revenue 4.000%  12/1/25        740        744
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/26      2,000      2,045
  Black Belt Energy Gas District Natural Gas Revenue 4.000%  10/1/26      4,435      4,465
  Black Belt Energy Gas District Natural Gas Revenue 5.000%  11/1/26      1,955      1,999
  Black Belt Energy Gas District Natural Gas Revenue 4.000%   6/1/27      1,250      1,267
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/27      3,455      3,567
  Black Belt Energy Gas District Natural Gas Revenue 4.000%  10/1/27      4,785      4,822
  Black Belt Energy Gas District Natural Gas Revenue 5.000%  11/1/27      2,065      2,136
  Black Belt Energy Gas District Natural Gas Revenue 4.000%  12/1/27      2,300      2,336
  Black Belt Energy Gas District Natural Gas Revenue 4.000%   6/1/28      2,575      2,613
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/28      2,205      2,300
  Black Belt Energy Gas District Natural Gas Revenue 5.250%  10/1/28      1,015      1,068
  Black Belt Energy Gas District Natural Gas Revenue 5.000%  11/1/28      2,295      2,398
  Black Belt Energy Gas District Natural Gas Revenue 4.000%  12/1/28      2,750      2,794
  Black Belt Energy Gas District Natural Gas Revenue 5.500%   6/1/29      3,500      3,745
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   7/1/29        545        575
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/29      2,370      2,495
  Black Belt Energy Gas District Natural Gas Revenue 5.000%  11/1/29      2,150      2,267
  Black Belt Energy Gas District Natural Gas Revenue 5.500%   6/1/30      4,000      4,334
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   7/1/30        750        797
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/30        700        743
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/30      7,785      8,267
  Black Belt Energy Gas District Natural Gas Revenue 5.000%  11/1/30     14,000     14,887
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/31        750        801
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/31      6,000      6,415
  Black Belt Energy Gas District Natural Gas Revenue 5.000%  11/1/31     12,000     12,833
  Black Belt Energy Gas District Natural Gas Revenue 5.000%   9/1/32        800        846
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project No.7) PUT 4.000%  12/1/26    124,575    124,945
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project No.8) 4.000%  12/1/25      2,975      2,979
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project No.8) 4.000%  12/1/26      3,095      3,099
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project No.8) 4.000%  12/1/27      3,220      3,225
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project No.8) 4.000%  12/1/28      6,770      6,775
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project No.8) 4.000%  12/1/29      6,975      6,971
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project No.8) PUT 4.000%  12/1/29     87,200     86,075
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project) 5.000%   6/1/26        500        509
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project) 5.250%  12/1/27      1,000      1,042
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project) PUT 5.000%   6/1/28    101,740    105,050
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project) PUT 5.500%  12/1/28     13,665     14,424
  Black Belt Energy Gas District Natural Gas Revenue (Gas Project) PUT 5.500%   2/1/29     41,795     44,279
  Black Belt Energy Gas District Natural Gas Revenue (Project No. 4) 4.000%   6/1/25        520        521
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Black Belt Energy Gas District Natural Gas Revenue (Project No. 4) PUT 4.000%  12/1/25    121,295    121,760
  Black Belt Energy Gas District Natural Gas Revenue (Project No. 5) 4.000%   4/1/25      1,000      1,001
  Black Belt Energy Gas District Natural Gas Revenue (Project No. 5) 4.000%   4/1/26        775        779
  Black Belt Energy Gas District Natural Gas Revenue (Project No. 5) PUT 4.000%  10/1/26     28,125     28,240
  Black Belt Energy Gas District Natural Gas Revenue (Project No. 6) 4.000%  12/1/25      1,500      1,507
  Black Belt Energy Gas District Natural Gas Revenue (Project No. 6) PUT 4.000%  12/1/26    122,350    122,714
2 Black Belt Energy Gas District Natural Gas Revenue (Project No. 7), SIFMA Municipal Swap Index Yield + 0.350% 2.600%  10/1/52      1,005        978
2 Black Belt Energy Gas District Natural Gas Revenue 67% of SOFR + 0.140% 4.315%   7/1/52      1,325      1,340
  Black Belt Energy Gas District Natural Gas Revenue PUT 4.000%   6/1/27     53,355     53,911
  Black Belt Energy Gas District Natural Gas Revenue PUT 4.000%  10/1/27     53,895     53,953
  Black Belt Energy Gas District Natural Gas Revenue PUT 5.250%   6/1/29     37,105     38,958
  Black Belt Energy Gas District Natural Gas Revenue PUT 5.250%  10/1/30      8,770      9,323
  Black Belt Energy Gas District Natural Gas Revenue PUT 5.250%  12/1/30     15,495     16,667
  Black Belt Energy Gas District Natural Gas Revenue PUT 5.000%   7/1/31     59,750     63,307
  Black Belt Energy Gas District Natural Gas Revenue PUT 4.000%  12/1/31      5,545      5,587
  Black Belt Energy Gas District Natural Gas Revenue PUT 5.000%   9/1/32     45,420     47,817
  Black Belt Energy Gas District Natural Gas Revenue PUT 5.250%   9/1/32     43,985     46,769
3 Chatom Industrial Development Board Electric Power & Light Revenue 5.000%   8/1/25        210        212
3 Chatom Industrial Development Board Electric Power & Light Revenue 5.000%   8/1/26        975        999
3 Chatom Industrial Development Board Electric Power & Light Revenue 5.000%   8/1/27      1,100      1,145
  Energy Southeast A Cooperative District Natural Gas Revenue 5.500%   5/1/30      1,450      1,566
  Energy Southeast A Cooperative District Natural Gas Revenue 5.000%   6/1/30        800        846
  Energy Southeast A Cooperative District Natural Gas Revenue 5.500%  11/1/30      1,450      1,575
  Energy Southeast A Cooperative District Natural Gas Revenue 5.000%  12/1/30        750        796
  Energy Southeast A Cooperative District Natural Gas Revenue 5.500%   5/1/31      1,500      1,632
  Energy Southeast A Cooperative District Natural Gas Revenue 5.000%   6/1/31        700        741
  Energy Southeast A Cooperative District Natural Gas Revenue 5.500%  11/1/31      1,500      1,634
  Energy Southeast A Cooperative District Natural Gas Revenue 5.000%  12/1/31      1,000      1,062
  Energy Southeast A Cooperative District Natural Gas Revenue 5.000%   6/1/32        800        852
  Energy Southeast A Cooperative District Natural Gas Revenue PUT 5.500%   1/1/31      4,185      4,515
  Energy Southeast A Cooperative District Natural Gas Revenue PUT 5.750%  11/1/31     22,000     24,218
  Energy Southeast A Cooperative District Natural Gas Revenue PUT 5.250%   6/1/32     37,120     40,000
  Houston County Health Care Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/25      1,000      1,009
  Houston County Health Care Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/30      2,090      2,113
  Huntsville Health Care Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   6/1/30     32,460     34,671
  Infirmary Health System Special Care Facilities Financing Authority of Mobile Health, Hospital, Nursing Home Revenue 5.000%   2/1/25        445        445
  Infirmary Health System Special Care Facilities Financing Authority of Mobile Health, Hospital, Nursing Home Revenue 5.000%   2/1/27        210        213
  Jacksonville State University College & University Revenue 4.000%  12/1/26        550        556
  Jacksonville State University College & University Revenue 4.000%  12/1/27      1,000      1,016
  Jacksonville State University College & University Revenue 5.000%  12/1/28      1,545      1,630
  Jefferson County AL Sales Tax Revenue 5.000%  9/15/26      1,400      1,447
  Jefferson County AL Sales Tax Revenue 5.000%  9/15/31      7,500      7,740
  Jefferson County AL Sales Tax Revenue 5.000%  9/15/32      1,000      1,031
  Jefferson County AL Sewer Revenue 5.000%  10/1/28      2,500      2,643
  Jefferson County AL Sewer Revenue 5.000%  10/1/29      1,730      1,853
  Jefferson County AL Sewer Revenue 5.000%  10/1/30      2,900      3,136
  Jefferson County AL Sewer Revenue 5.000%  10/1/31      5,805      6,336
  Jefferson County AL Sewer Revenue 5.000%  10/1/32      4,575      5,030
  Lower Alabama Gas District Natural Gas Revenue 5.000%   9/1/27      4,070      4,201
  Lower Alabama Gas District Natural Gas Revenue (Gas Project Revenue Bonds Project) PUT 4.000%  12/1/25     82,470     82,679
  Mobile Alabama Industrial Development Board Industrial Revenue (Alabama Power Co. Barry Plant Project) PUT 1.000%  6/26/25      9,500      9,405
  Mobile Alabama Industrial Development Board Industrial Revenue (Alabama Power Co. Barry Plant Project) PUT 3.300%  3/12/26      9,890      9,906
  Mobile Alabama Industrial Development Board Industrial Revenue (Alabama Power Co. Barry Plant Project) PUT 3.780%  6/16/26      6,905      6,947
  Mobile County Board of School Commissioners Special Tax Revenue 5.000%   3/1/25      4,150      4,156
  Mobile County Board of School Commissioners Special Tax Revenue 5.000%   3/1/26      3,165      3,231
  Mobile County Board of School Commissioners Special Tax Revenue 5.000%   3/1/27      4,015      4,096
  Montgomery AL GO 3.000%  12/1/26        265        264
  Montgomery AL GO 3.000%  12/1/27        925        914
  Montgomery AL GO 3.000%  12/1/28      1,850      1,814
  Selma Industrial Development Board Industrial Revenue PUT 3.450%  10/1/31      4,525      4,476
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 1) 5.000%   4/1/25      2,685      2,691
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 1) 5.000%   4/1/26      1,360      1,383
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 1) 5.000%   4/1/27      1,860      1,917
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 1) 5.000%   4/1/28      3,000      3,130
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 1) 5.000%   4/1/29      4,500      4,741
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 1) 5.000%   4/1/30      4,500      4,781
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 1) PUT 5.000%   4/1/32     20,000     21,288
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%   5/1/25        615        617
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%  11/1/25        355        359
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%   5/1/26        400        407
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%  11/1/26        425        435
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%   5/1/27      1,250      1,287
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%  11/1/27        605        627
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%   5/1/28      1,250      1,299
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%  11/1/28        605        632
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%   5/1/29      2,250      2,361
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%  11/1/29      1,360      1,434
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%   5/1/30      5,000      5,295
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) 5.000%  11/1/30      2,905      3,089
  Southeast Alabama Gas Supply District Natural Gas Revenue (Project No. 2) PUT 5.000%   5/1/32     10,160     10,786
  Southeast Energy Authority A Cooperative District Electric Power & Light Revenue 5.000%   6/1/29        225        234
  Southeast Energy Authority A Cooperative District Electric Power & Light Revenue 5.000%   6/1/30        200        209
  Southeast Energy Authority A Cooperative District Electric Power & Light Revenue 5.000%   6/1/31        340        358
  Southeast Energy Authority A Cooperative District Electric Power & Light Revenue PUT 5.000%   6/1/35     17,590     18,454
  Southeast Energy Authority A Cooperative District Natural Gas Revenue 5.000%  11/1/28      1,000      1,049
  Southeast Energy Authority A Cooperative District Natural Gas Revenue 5.000%  11/1/29      1,000      1,059
  Southeast Energy Authority A Cooperative District Natural Gas Revenue 5.000%  11/1/30      1,500      1,601
  Southeast Energy Authority A Cooperative District Natural Gas Revenue 5.000%  11/1/31      1,400      1,501
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 1) 4.000%  10/1/25        560        562
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 1) 4.000%  10/1/26        700        705
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 1) 4.000%  10/1/27      3,055      3,073
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 1) 4.000%  10/1/28      4,825      4,849
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 1) PUT 4.000%  10/1/28     32,640     32,682
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 2) 4.000%   6/1/25        875        877
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 2) 4.000%   6/1/26        750        755
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 2) 4.000%   6/1/27      2,420      2,438
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 2) 4.000%   6/1/28      3,985      4,017
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 2) PUT 4.000%  12/1/31        500        497
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 3) 5.250%  12/1/28      2,910      3,067
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 3) 5.250%   6/1/29      2,810      2,973
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 3) 5.250%  12/1/29      6,045      6,388
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 3) PUT 5.500%  12/1/29     16,890     17,994
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 4) PUT 5.000%   8/1/28      9,555      9,913
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 5) PUT 5.250%   7/1/29     89,115     93,712
  Southeast Energy Authority A Cooperative District Natural Gas Revenue (Project No. 6) PUT 5.000%   6/1/30     15,605     16,493
  Southeast Energy Authority A Cooperative District Natural Gas Revenue PUT 5.000%  11/1/32     52,970     56,648
1 Troy University College & University Revenue 5.000%  11/1/25      1,425      1,447
  UAB Medicine Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25      1,260      1,275
  UAB Medicine Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/26      2,000      2,061
  UAB Medicine Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/30      1,435      1,470
  UAB Medicine Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/32      2,380      2,433
3 University of South Alabama College & University Revenue 4.000%   4/1/25        425        426
3 University of South Alabama College & University Revenue 5.000%  11/1/25      1,695      1,721
1 University of South Alabama College & University Revenue 5.000%  10/1/26        800        827
3 University of South Alabama College & University Revenue 5.000%   4/1/27        750        780
1 University of South Alabama College & University Revenue 5.000%  10/1/31      1,000      1,038
3 University of South Alabama College & University Revenue 5.000%  11/1/31      1,000      1,035
  West Jefferson Industrial Development Board Industrial Revenue (Alabama Power Co. Project) 3.650%   6/1/28      8,145      8,207
                                   1,807,512
Alaska (0.4%)
  Alaska GO 5.000%   8/1/27      1,000      1,054
4 Alaska GO 5.000%   8/1/28      1,000      1,059
4 Alaska GO 5.000%   8/1/29      1,000      1,074
  Alaska GO 5.000%   8/1/29      1,250      1,360
  Alaska GO 5.000%   8/1/30      1,315      1,453
4 Alaska GO 5.000%   8/1/30      1,785      1,945
  Alaska GO 5.000%   8/1/31      1,000      1,120
4 Alaska GO 5.000%   8/1/31      1,555      1,714
  Alaska GO 5.000%   8/1/32      1,505      1,704
4 Alaska GO 5.000%   8/1/32      1,845      2,052
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue 4.000%  12/1/48      3,805      3,820
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue 5.750%  12/1/52      5,700      6,038
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue 6.000%   6/1/54      4,095      4,434
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%   6/1/25        220        222
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%  12/1/25        280        285
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%   6/1/26        345        354
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%  12/1/26        460        476
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%   6/1/27        375        392
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%  12/1/27        385        406
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%   6/1/28        390        414
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%  12/1/28        360        385
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%   6/1/29        925        996
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%  12/1/29        975      1,057
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bond) 5.000%   6/1/30        875        951
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bonds II) 5.000%   6/1/29        680        733
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bonds II) 5.000%  12/1/29        700        760
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bonds II) 5.000%   6/1/30      1,250      1,364
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bonds II) 5.000%  12/1/30      1,000      1,102
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bonds II) 5.000%   6/1/31      1,000      1,105
  Alaska Housing Finance Corp. Local or Guaranteed Housing Revenue (State Capital Project Bonds II) 5.000%  12/1/31      2,000      2,221
  Alaska Industrial Development & Export Authority Health, Hospital, Nursing Home Revenue (Greater Fairbanks Community Hospital Foundation Project) 5.000%   4/1/25      1,875      1,880
  Alaska Industrial Development & Export Authority Health, Hospital, Nursing Home Revenue (Greater Fairbanks Community Hospital Foundation Project) 5.000%   4/1/26      4,940      5,030
  Alaska Industrial Development & Export Authority Health, Hospital, Nursing Home Revenue (Greater Fairbanks Community Hospital Foundation Project) 4.000%   4/1/31      3,970      4,054
  Alaska Industrial Development & Export Authority Health, Hospital, Nursing Home Revenue (Greater Fairbanks Community Hospital Foundation Project) 4.000%   4/1/33      1,300      1,322
  Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/26        510        528
4 Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/26      1,000      1,021
  Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/27        625        659
4 Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/27      1,485      1,540
  Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/28      1,265      1,357
4 Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/28      1,250      1,315
  Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/29        395        431
4 Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/29        915        974
  Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/30        550        607
4 Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/30      1,610      1,735
  Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/31      1,900      2,119
4 Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/31      2,750      2,994
  Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/32      2,330      2,619
4 Alaska International Airports System Port, Airport & Marina Revenue 5.000%  10/1/32      1,860      2,039
  Borough of Matanuska-Susitna AK Lease (Appropriation) Revenue 4.000%   9/1/30      1,595      1,599
  Municipality of Anchorage AK GO 5.000%   9/1/28      1,430      1,533
  Municipality of Anchorage AK GO 5.000%   9/1/28      1,165      1,249
  Municipality of Anchorage AK GO 5.000%   9/1/29      3,010      3,280
  Municipality of Anchorage AK GO 5.000%   9/1/29      1,220      1,329
  Municipality of Anchorage AK GO 5.000%   9/1/30      3,160      3,496
  Municipality of Anchorage AK GO 5.000%   9/1/31      3,315      3,716
  Municipality of Anchorage AK GO 5.000%   9/1/31      2,700      3,027
  North Slope Borough AK GO 5.000%  6/30/26      1,270      1,307
  North Slope Borough AK GO 5.000%  6/30/28      2,005      2,145
  North Slope Borough AK GO 5.000%  6/30/29      2,270      2,467
  North Slope Borough AK GO 5.000%  6/30/30      1,210      1,335
  Northern Tobacco Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/26      2,200      2,243
  Northern Tobacco Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/27      3,950      4,080
  Northern Tobacco Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/29      3,155      3,326
  Northern Tobacco Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/30      1,785      1,899
  Northern Tobacco Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/31      1,000      1,073
  Northern Tobacco Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/32      1,750      1,873
                                     115,251
Arizona (1.3%)
5,6 Arizona Health Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.450%   2/6/25     16,530     16,530
5,6 Arizona Health Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.450%   2/6/25      6,905      6,905
2 Arizona Health Facilities Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.250% 2.500%   1/1/46      3,850      3,804
2 Arizona Health Facilities Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.250%, Prere. 2.500%  11/4/25      1,370      1,368
2 Arizona Health Facilities Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.250%, Prere. 2.500%  11/4/25        150        149
  Arizona IDA Charter School Aid Revenue 4.000%  11/1/25        750        755
  Arizona IDA Charter School Aid Revenue 4.000%  11/1/26      1,000      1,014
  Arizona IDA Charter School Aid Revenue 4.000%  11/1/26      1,000      1,014
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Arizona IDA Charter School Aid Revenue 4.000%  11/1/27        750        763
  Arizona IDA Charter School Aid Revenue 4.000%  11/1/28        850        864
  Arizona IDA Charter School Aid Revenue 5.000%  11/1/28     10,920     11,502
  Arizona IDA Charter School Aid Revenue 5.000%  11/1/29      5,500      5,890
  Arizona IDA Charter School Aid Revenue 5.000%  11/1/30        500        532
5 Arizona IDA Charter School Aid Revenue (Academics of Math & Science Projects) 4.000%   7/1/29      1,200      1,186
5 Arizona IDA Charter School Aid Revenue (Academics of Math & Science Projects) 5.000%   7/1/32        365        374
  Arizona IDA Charter School Aid Revenue (Greathearts Arizona Project) 5.000%   7/1/26        125        128
  Arizona IDA Charter School Aid Revenue (Greathearts Arizona Project) 5.000%   7/1/27        160        165
  Arizona IDA Charter School Aid Revenue (Greathearts Arizona Project) 5.000%   7/1/28        125        131
  Arizona IDA Charter School Aid Revenue (Lehman Academy of Excellence Projects) 4.000%   7/1/26      1,210      1,212
  Arizona IDA Charter School Aid Revenue (Lehman Academy of Excellence Projects) 4.000%   7/1/26        220        220
  Arizona IDA Charter School Aid Revenue (Lehman Academy of Excellence Projects) 4.000%   7/1/28        805        798
  Arizona IDA Charter School Aid Revenue (Lehman Academy of Excellence Projects) 4.000%   7/1/28        240        238
  Arizona IDA Charter School Aid Revenue (Lehman Academy of Excellence Projects) 4.000%   7/1/29        605        597
  Arizona IDA Charter School Aid Revenue (Lehman Academy of Excellence Projects) 4.000%   7/1/29        250        247
5 Arizona IDA Charter School Aid Revenue (Mater Academy of Nevada - Bonanza Campus Project) 4.000% 12/15/30      1,915      1,889
  Arizona IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/25        135        136
  Arizona IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/26        125        128
  Arizona IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/27        445        464
  Arizona IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/28        250        264
5 Arizona IDA Health, Hospital, Nursing Home Revenue TOB VRDO 2.020%   2/3/25      1,910      1,910
  Arizona IDA Lease (Appropriation) Revenue (Lincoln South Beltway Project) 5.000%   2/1/25      1,610      1,610
  Arizona IDA Lease (Appropriation) Revenue (Lincoln South Beltway Project) 5.000%   8/1/25      1,680      1,699
  Arizona IDA Lease (Appropriation) Revenue (Lincoln South Beltway Project) 5.000%   5/1/26      1,680      1,727
  Arizona IDA Lease (Appropriation) Revenue (Lincoln South Beltway Project) 5.000%  11/1/26      1,600      1,659
  Arizona IDA Lease (Appropriation) Revenue (Lincoln South Beltway Project) 5.000%   5/1/27      1,605      1,681
  Arizona IDA Lease (Appropriation) Revenue (Lincoln South Beltway Project) 5.000%  11/1/28      1,460      1,567
  Arizona IDA Local or Guaranteed Housing Revenue (Glendale Senior Project) PUT 5.000%  10/1/26      8,061      8,217
  Arizona IDA Local or Guaranteed Housing Revenue (Ironwood Ranch Apartments) PUT 5.000%   9/1/26      2,635      2,706
  Arizona IDA Local or Guaranteed Housing Revenue (The Ranches at Gunsmoke Project) PUT 5.000%  11/1/26      5,926      6,097
  Arizona IDA Local or Guaranteed Housing Revenue PUT 5.000%   1/1/27     18,000     18,507
1 Arizona IDA Local or Guaranteed Housing Revenue(NCCU Properties LLC - North Carolina Central University Project) 5.000%   6/1/25        400        402
1 Arizona IDA Local or Guaranteed Housing Revenue(NCCU Properties LLC - North Carolina Central University Project) 5.000%   6/1/26        500        512
5 Arizona IDA Multi Family Housing Local or Guaranteed Revenue TOB VRDO 2.200%   2/3/25     23,692     23,692
5,6 Arizona IDA Multi Family Housing Local or Guaranteed Revenue TOB VRDO 2.200%   2/3/25     17,605     17,605
5 Arizona IDA Multi Family Housing Revenue TOB VRDO 2.070%   2/3/25     20,000     20,000
5,7 Arizona IDA Recreational Revenue (Legacy Cares Inc. Project) 6.250%   7/1/24      4,365        131
5,7 Arizona IDA Recreational Revenue (Legacy Cares Inc. Project) 6.375%   7/1/25      1,910         57
5,7 Arizona IDA Recreational Revenue (Legacy Cares Inc. Project) 6.500%   7/1/26      1,910         57
5,7 Arizona IDA Recreational Revenue (Legacy Cares Inc. Project) 6.625%   7/1/27      1,910         57
5,7 Arizona IDA Recreational Revenue (Legacy Cares Inc. Project) 6.750%   7/1/28      1,910         57
5,7 Arizona IDA Recreational Revenue (Legacy Cares Inc. Project) 5.500%   7/1/31        420         13
1 Arizona Sports & Tourism Authority Miscellaneous Revenue (Multipurpose Stadium Facility Project) 5.000%   7/1/29      9,490     10,209
5 Arizona State IDA Muti-Family Housing Local or Guaranteed Housing Revenue TOB VRDO 2.200%   2/3/25     19,645     19,645
  Arizona Transportation Board Sales Tax Revenue 5.000%   7/1/25     10,000     10,092
  Bullhead AZ Excise Taxes Sales Tax Revenue 0.750%   7/1/25        175        173
  Bullhead AZ Excise Taxes Sales Tax Revenue 0.950%   7/1/26        125        120
  Bullhead AZ Excise Taxes Sales Tax Revenue 1.150%   7/1/27        375        352
  Bullhead AZ Excise Taxes Sales Tax Revenue 1.300%   7/1/28        485        446
  Chandler IDA Industrial Revenue (Intel Corp. Project) PUT 3.800%  6/15/28     18,460     18,640
  Coconino County Pollution Control Corp. Electric Power & Light Revenue (Nevada Power Co. Project) PUT 3.750%  3/31/26        930        930
5,6 Deutsche Bank Spears/Lifers Trust Local or Guaranteed Housing Revenue TOB VRDO 2.200%   2/3/25      5,000      5,000
  Glendale IDA Student Loan Revenue 4.000%  5/15/25        900        903
  Glendale IDA Student Loan Revenue 4.000%  5/15/26        300        304
  Glendale IDA Student Loan Revenue 4.000%  5/15/27      1,975      2,015
3 Glendale Union High School District No. 205 GO 5.000%   7/1/25        115        116
  La Paz County IDA Charter School Aid Revenue (Harmony Public Schools Project) 5.000%  2/15/25         90         90
  La Paz County IDA Charter School Aid Revenue (Harmony Public Schools Project) 5.000%  2/15/26         95         96
  La Paz County IDA Charter School Aid Revenue (Harmony Public Schools Project) 5.000%  2/15/27         75         76
  La Paz County IDA Charter School Aid Revenue (Harmony Public Schools Project) 5.000%  2/15/28         80         82
  Maricopa County IDA Charter School Aid Revenue (Legacy Traditional School Project) 4.000%   7/1/25        200        200
  Maricopa County IDA Charter School Aid Revenue (Legacy Traditional School Project) 4.000%   7/1/26        200        201
  Maricopa County IDA Charter School Aid Revenue (Legacy Traditional School Project) 4.000%   7/1/27        225        227
5 Maricopa County IDA Charter School Aid Revenue (Legacy Traditional School Project) 4.000%   7/1/29      3,150      3,132
5 Maricopa County IDA Charter School Aid Revenue (Paradise Schools Projects) 3.500%   7/1/26        540        533
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   1/1/26      1,450      1,478
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      2,125      2,202
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   1/1/27      1,500      1,556
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%  12/1/27      1,865      1,964
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   1/1/28      3,075      3,241
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/28        600        639
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%  12/1/28      1,105      1,181
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   1/1/29      2,505      2,680
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%  12/1/29      2,770      3,003
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   1/1/30      2,505      2,713
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%  12/1/30      3,310      3,635
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   1/1/31      3,540      3,653
  Maricopa County IDA Health, Hospital, Nursing Home Revenue 5.000%   1/1/32      2,000      2,060
  Maricopa County IDA Health, Hospital, Nursing Home Revenue PUT 5.000%  5/15/26     12,545     12,829
  Maricopa County IDA Health, Hospital, Nursing Home Revenue PUT 5.000%  5/15/26      6,760      6,905
  Maricopa County IDA Health, Hospital, Nursing Home Revenue PUT 5.000%  5/15/28     12,510     13,221
  Maricopa County IDA Health, Hospital, Nursing Home Revenue PUT 5.000%  11/1/30     16,435     17,870
  Maricopa County Pollution Control Corp. Electric Power & Light Revenue (Palo Verde Project) PUT 0.875%  10/1/26      2,985      2,834
  Maricopa County Pollution Control Corp. Electric Power & Light Revenue (Palo Verde Project) PUT 0.875%  10/1/26      2,035      1,932
  Maricopa County Pollution Control Corp. Electric Power & Light Revenue (Palo Verde Project) PUT 3.875%   6/1/29      2,750      2,789
  Maricopa County School District No. 83-Cartwright Elementary Lease (Appropriation) Revenue 2.000%  10/1/26        735        705
  Maricopa County School District No. 83-Cartwright Elementary Lease (Appropriation) Revenue 2.000%  10/1/29      1,125        999
  Maricopa County School District No. 83-Cartwright Elementary Lease (Appropriation) Revenue 2.000%  10/1/31        670        564
  Maricopa County Unified School District No. 4 Mesa (Project of 2018) GO 5.000%   7/1/29      1,035      1,127
  Mesa AZ Utility System Water Revenue 4.000%   7/1/32      7,060      7,130
3 Northern Arizona University College & University Revenue 5.000%   8/1/29      2,090      2,267
  Phoenix Arizona IDA Local or Guaranteed Housing Revenue (Memorial Towers Project) 3.350%  12/1/27      1,920      1,911
  Phoenix AZ GO 5.000%   7/1/30      2,500      2,772
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 4.000%   7/1/28      3,745      3,747
5 Phoenix IDA Charter School Aid Revenue (Legacy Traditional Schools Projects) 4.000%   7/1/25        960        961
  Phoenix IDA Local or Guaranteed Housing Revenue 5.000%   7/1/25        400        402
5 Pima County IDA Charter School Aid Revenue (American Leadership Academy Project) 4.600%  6/15/25        345        345
5 Pima County IDA Charter School Aid Revenue (American Leadership Academy Project) 4.000%  6/15/27        340        339
5 Pima County IDA Charter School Aid Revenue (American Leadership Academy Project) 4.000%  6/15/28        355        352
5 Pima County IDA Charter School Aid Revenue (American Leadership Academy Project) 4.000%  6/15/29        365        361
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 4.000%  12/1/32      3,000      3,004
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 4.000%  12/1/34      7,500      7,508
  Salt Verde Financial Corp. Natural Gas Revenue 5.250%  12/1/26      2,985      3,074
  Tempe IDA Health, Hospital, Nursing Home Revenue (Friendship Village of Tempe Project) 4.000%  12/1/26        245        245
  Tempe IDA Health, Hospital, Nursing Home Revenue (Friendship Village of Tempe Project) 4.000%  12/1/27        705        705
  Tempe IDA Health, Hospital, Nursing Home Revenue (Friendship Village of Tempe Project) 4.000%  12/1/28        365        365
  Tempe IDA Health, Hospital, Nursing Home Revenue (Friendship Village of Tempe Project) 4.000%  12/1/30        495        494
  Tempe IDA Health, Hospital, Nursing Home Revenue (Friendship Village of Tempe Project) 4.000%  12/1/31        465        463
1 University of Arizona College & University Revenue 5.000%   8/1/30      1,110      1,228
1 University of Arizona College & University Revenue 5.000%   8/1/31      1,500      1,683
1 University of Arizona College & University Revenue 5.000%   8/1/32      3,000      3,401
  Yavapai County IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/25        750        756
  Yavapai County IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      1,235      1,263
  Yavapai County IDA Resource Recovery Revenue (Republic Services Inc. Project) PUT 3.700%   3/2/25     11,500     11,500
  Yavapai County IDA Revenue 4.000%  10/1/25      3,515      3,536
  Yavapai County IDA Revenue 4.000%  10/1/26      3,635      3,689
  Yuma IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      1,370      1,409
  Yuma IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/27      1,100      1,150
  Yuma IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/28      1,000      1,061
  Yuma IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/29      1,380      1,485
  Yuma IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/30      1,555      1,696
  Yuma IDA Health, Hospital, Nursing Home Revenue 5.000%   8/1/31        500        552
                                     405,446
Arkansas (0.3%)
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/26      2,060      2,061
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/27      3,715      3,716
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/28      3,855      3,856
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/28        500        517
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 3.500%   2/1/29      1,250      1,216
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/29      1,280      1,332
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/32      1,500      1,564
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/33      2,605      2,605
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/35      1,300      1,300
  Arkansas Development Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   9/1/27     16,030     16,301
  Arkansas Development Finance Authority Local or Guaranteed Housing Revenue (Mortgage-Backed Securities/Mortgage Loans Program) 5.000%   1/1/55      1,500      1,581
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
8 Arkansas Development Finance Authority Local or Guaranteed Housing Revenue PUT 3.550%   6/1/27        350        351
  Baxter County AR Health, Hospital, Nursing Home Revenue 5.000%   9/1/25        565        567
  Baxter County AR Health, Hospital, Nursing Home Revenue 5.000%   9/1/26      1,500      1,512
  Baxter County AR Health, Hospital, Nursing Home Revenue 5.000%   9/1/26        320        322
  Fort Smith School District No. 100 GO 2.625%  12/1/30        455        422
  North Little Rock School District No. 1 GO 3.000%   2/1/28      6,915      6,884
  North Little Rock School District No. 1 GO 3.000%   2/1/29      7,145      7,090
  Pulaski County AR Health, Hospital, Nursing Home Revenue 5.000%   3/1/31      1,000      1,023
  Pulaski County Special School District GO 2.000%   2/1/25      1,455      1,455
  Pulaski County Special School District GO 2.000%   2/1/26      3,230      3,179
  Pulaski County Special School District GO 2.000%   2/1/27      3,300      3,190
  Rogers AR Sales & Use Tax Sales Tax Revenue 4.000%  11/1/28      2,870      2,923
  Rogers AR Sales & Use Tax Sales Tax Revenue 4.000%  11/1/29      2,765      2,807
  Rogers AR Sales & Use Tax Sales Tax Revenue 4.000%  11/1/30      3,305      3,352
  Rogers AR Sales & Use Tax Sales Tax Revenue 4.000%  11/1/31      1,055      1,068
  Rogers AR Water Revenue 4.000%  11/1/29        140        140
  Searcy AR Sales & Use Tax Sales Tax Revenue 5.000%  11/1/27      1,035      1,087
  Searcy AR Sales & Use Tax Sales Tax Revenue 5.000%  11/1/29      1,600      1,724
  Searcy AR Sales & Use Tax Sales Tax Revenue 5.000%  11/1/30      1,000      1,091
  Springdale School District No. 50 GO 3.000%   6/1/29      4,100      4,015
  Springdale School District No. 50 GO 3.000%   6/1/31      1,335      1,281
                                      81,532
California (9.9%)
3 Alhambra Unified School District GO 0.000%   8/1/30      1,000        839
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/27      6,000      6,340
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/28      8,090      8,530
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/29      5,000      5,266
  Bay Area Toll Authority Highway Revenue PUT 2.125%   4/1/25     13,510     13,486
  Bay Area Toll Authority Highway Revenue PUT 2.850%   4/1/25     11,320     11,313
  Bay Area Toll Authority Highway Revenue PUT 2.625%   4/1/26      6,750      6,704
  Bay Area Toll Authority Highway Revenue PUT 2.950%   4/1/26     21,185     21,117
  Bay Area Toll Authority Highway Revenue PUT 2.000%   4/1/28     20,000     19,091
6 Bay Area Toll Authority Highway Revenue VRDO 0.760%   2/6/25      3,400      3,400
6 Bay Area Toll Authority Highway Revenue VRDO 1.330%   2/6/25     80,740     80,740
2 Bay Area Toll Authority Highway Revenue, SIFMA Municipal Swap Index Yield + 0.300% 2.550%   4/1/56     20,500     20,271
2 Bay Area Toll Authority Highway Revenue, SIFMA Municipal Swap Index Yield + 0.410% 2.660%   4/1/56     20,000     19,729
2 Bay Area Toll Authority Highway Revenue, SIFMA Municipal Swap Index Yield + 0.450% 2.700%   4/1/56      8,125      8,095
2 Bay Area Toll Authority Highway Revenue, SIFMA Municipal Swap Index Yield + 1.250% 3.500%   4/1/36     10,740     10,810
  California Community Choice Financing Authority Electric Power & Light Revenue 4.000%   8/1/27      1,415      1,434
  California Community Choice Financing Authority Electric Power & Light Revenue 5.000%   9/1/27      1,125      1,170
  California Community Choice Financing Authority Electric Power & Light Revenue 4.000%   2/1/28        380        385
  California Community Choice Financing Authority Electric Power & Light Revenue 5.000%   3/1/28      1,330      1,389
  California Community Choice Financing Authority Electric Power & Light Revenue 4.000%   8/1/28        470        477
  California Community Choice Financing Authority Electric Power & Light Revenue 4.000%   8/1/28      4,730      4,788
  California Community Choice Financing Authority Electric Power & Light Revenue 4.000%   2/1/29        655        664
  California Community Choice Financing Authority Electric Power & Light Revenue 4.000%   8/1/29        510        518
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%  10/1/28      1,250      1,315
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   3/1/29      2,165      2,283
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   4/1/29      1,850      1,953
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   9/1/29      1,260      1,336
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%  10/1/29      1,500      1,592
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   3/1/30      1,560      1,661
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   4/1/30      1,650      1,759
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   9/1/30      1,380      1,477
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%  10/1/30      2,100      2,249
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   9/1/31      1,375      1,482
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   3/1/32      1,700      1,836
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 4.000%  12/1/27     63,890     64,078
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   8/1/29     28,150     29,343
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   8/1/29     53,375     55,947
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.250%   4/1/30     42,000     44,453
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.500%  11/1/30     49,715     53,832
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   3/1/31     12,760     13,485
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   4/1/32     10,000     10,662
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   9/1/32     57,430     61,461
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   9/1/32     70,000     75,474
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%  10/1/32     68,855     72,939
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%  12/1/32     88,405     93,200
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   8/1/33     13,415     14,626
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 4.000%   8/1/28     72,745     72,733
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.500%  11/1/28     92,570     97,735
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 4.000%   8/1/31     26,145     26,030
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%   8/1/32     23,335     24,570
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%  11/1/32     20,000     21,430
  California Educational Facilities Authority College & University Revenue 5.000%  12/1/25        200        202
  California Educational Facilities Authority College & University Revenue 5.000%  12/1/26        150        154
  California Educational Facilities Authority College & University Revenue 5.000%  12/1/28        210        221
  California Educational Facilities Authority College & University Revenue 5.000%  12/1/30         50         54
  California GO 5.000%   4/1/25     51,400     51,599
  California GO 5.000%   8/1/25     10,000     10,120
  California GO 5.000%   9/1/25     13,900     14,094
  California GO 3.000%   3/1/26     20,000     20,024
  California GO 5.000%   4/1/26      8,300      8,532
  California GO 5.000%   8/1/26     16,580     17,161
  California GO 5.000%   8/1/26     27,635     28,624
  California GO 5.000%   8/1/26      1,025      1,025
  California GO 5.000%   8/1/26         35         35
  California GO 4.000%   9/1/26     10,125     10,344
  California GO 5.000%   9/1/26      1,000      1,037
  California GO 5.000%  10/1/26      6,000      6,233
  California GO 3.500%   8/1/27     10,000     10,198
  California GO 5.000%   8/1/27      5,485      5,791
  California GO 5.000%   8/1/27      2,000      2,112
  California GO 5.000%   9/1/27     16,360     17,301
  California GO 5.000%  10/1/27     10,000     10,593
  California GO 5.000%  11/1/27      2,500      2,652
  California GO 5.000%   8/1/28      5,000      5,371
  California GO 5.000%   8/1/28     10,000     10,743
  California GO 5.000%   9/1/28      5,000      5,379
  California GO 5.000%   9/1/28      3,330      3,583
  California GO 5.000%  10/1/28      5,000      5,387
  California GO 5.000%  11/1/28     35,955     38,793
  California GO 5.000%   8/1/29     17,200     18,806
  California GO 5.000%   8/1/29     10,000     10,934
  California GO 4.000%   9/1/29      7,245      7,611
  California GO 5.000%  10/1/29      7,500      8,223
  California GO 5.000%   8/1/30     15,120     15,575
  California GO 5.000%   8/1/30     11,500     12,776
  California GO 5.000%  10/1/30     13,115     14,608
  California GO 5.000%   8/1/31      2,945      3,320
  California GO 5.000%   8/1/31      8,500      9,584
  California GO 4.000%   9/1/31        860        870
  California GO 4.000%   8/1/32      8,025      8,105
  California GO 5.000%   8/1/35      1,195      1,248
6 California GO VRDO 1.050%   2/5/25     48,800     48,800
6 California GO VRDO 1.100%   2/5/25     42,100     42,100
6 California GO VRDO 1.100%   2/6/25     46,475     46,475
6 California GO VRDO 1.330%   2/6/25     44,100     44,100
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/27      1,080      1,080
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/27        175        181
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/28      2,375      2,375
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/28      5,880      6,289
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      3,435      3,647
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      3,540      3,800
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/31     30,000     33,182
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      5,000      5,146
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/33     11,800     11,766
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 3.000%  8/15/25     19,850     19,852
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 2.000%  10/1/25      1,000        987
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/25     14,905     15,025
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/27     10,810     11,220
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   9/1/28     12,930     13,397
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  11/1/29     10,555     11,479
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue VRDO 1.100%   2/5/25     23,700     23,700
  California Health Facilities Financing Authority Revenue 5.000%   7/1/29      4,510      4,789
  California Health Facilities Financing Authority Revenue 5.000%   7/1/30      4,630      4,971
  California Housing Finance Agency 4.000%  3/20/33      9,149      9,155
8 California Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.600%   8/1/26      1,000      1,002
  California Infrastructure & Economic Development Bank Miscellaneous Revenue PUT 3.000%  10/1/26      4,405      4,436
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  California Infrastructure & Economic Development Bank Miscellaneous Revenue PUT 5.000%  10/1/26     10,000     10,309
  California Infrastructure & Economic Development Bank Recreational Revenue 3.250%   8/1/29      7,500      7,511
  California Infrastructure & Economic Development Bank Recreational Revenue PUT 1.200%   6/1/28     32,610     29,282
2 California Infrastructure & Economic Development Bank Recreational Revenue, SIFMA Municipal Swap Index Yield + 0.700% 2.950%  12/1/50      6,975      6,947
  California Infrastructure & Economic Development Bank Water Revenue 5.000%  10/1/30      4,500      4,726
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        800        804
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,025      1,044
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/27      2,455      2,505
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Gibson Drive Apartments Project) PUT 3.750%   6/1/27        575        583
  California Municipal Finance Authority Local or Guaranteed Housing Revenue PUT 3.200%   8/1/27      1,500      1,505
  California Municipal Finance Authority Local or Guaranteed Housing Revenue PUT 5.000%   7/1/28      3,695      3,918
5 California Municipal Finance Authority Multi Family Housing Local or Guaranteed Revenue TOB VRDO 2.150%   2/3/25     13,870     13,870
5,6 California Municipal Finance Authority Multi Family Housing Revenue TOB VRDO 2.150%   2/3/25      2,500      2,500
  California Pollution Control Financing Authority Water Revenue PUT 3.700%   9/1/28      1,250      1,258
5 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/28        225        226
5 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/29        260        261
5 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/30        375        376
5 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/31        340        341
  California State Public Works Board Lease (Abatement) Revenue 5.000%   2/1/27      5,000      5,221
  California State Public Works Board Lease (Abatement) Revenue 5.000%   8/1/28      1,000      1,073
  California State Public Works Board Lease (Abatement) Revenue 5.000%   8/1/29      2,000      2,183
  California State Public Works Board Lease (Abatement) Revenue 5.000%   8/1/30      1,000      1,109
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   5/1/25      3,055      3,072
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/25      2,680      2,725
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/30      3,750      4,165
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/31      1,000      1,126
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 4.000%   4/1/32      4,955      5,010
  California State University College & University Revenue 4.000%  11/1/34      2,420      2,438
  California State University College & University Revenue 4.000%  11/1/36     12,160     12,176
  California State University College & University Revenue PUT 0.550%  11/1/26      5,750      5,430
  California State University College & University Revenue PUT 3.125%  11/1/26      4,000      3,997
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.250%  12/1/29      1,500      1,501
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   3/1/27      1,060      1,088
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  11/1/29      2,000      2,175
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  11/1/29      3,800      4,133
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  11/1/29     12,095     13,153
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  11/1/29      5,440      5,916
1 California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 5.000%  5/15/25      1,600      1,608
  Central Valley Energy Authority Natural Gas Revenue PUT 5.000%   8/1/35      3,760      4,095
  Cerritos Community College District GO 4.000%   8/1/31      9,505      9,506
  Department of Veterans Affairs Veteran's Farm & Home Purchase Program Local or Guaranteed Housing Revenue 3.000%  12/1/50      1,460      1,437
  Foothill-Eastern Transportation Corridor Agency Highway Revenue 5.000%  1/15/29        750        802
  Last Frontier Healthcare District Health, Hospital, Nursing Home Revenue BAN 6.000%  12/2/25      8,770      8,791
  Long Beach Bond Finance Authority Natural Gas Revenue 5.500% 11/15/37        250        287
  Long Beach Unified School District GO 0.000%   8/1/28      3,625      3,184
  Los Angeles CA Unified School District GO 5.000%   7/1/26      3,250      3,353
  Los Angeles CA Unified School District GO 5.000%   7/1/27      6,250      6,582
  Los Angeles CA Unified School District GO 5.000%   7/1/28      5,000      5,367
  Los Angeles CA Unified School District GO 5.000%   7/1/29     15,000     16,370
  Los Angeles CA Unified School District GO 5.000%   7/1/30     37,155     41,203
  Los Angeles CA Wastewater System Sewer Revenue 5.000%   6/1/26      5,930      5,937
  Los Angeles CA Wastewater System Sewer Revenue 5.000%   6/1/28      2,085      2,236
  Los Angeles CA Wastewater System Sewer Revenue 5.000%   6/1/34      2,305      2,305
5,6 Los Angeles California Multifamily Mortgage Local or Guaranteed Housing Revenue TOB VRDO 2.650%   2/6/25      5,860      5,860
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/25         50         50
  Los Angeles Department of Water & Power Electric Power & Light Revenue 4.000%   7/1/26      1,235      1,242
  Los Angeles Department of Water & Power Electric Power & Light Revenue 4.000%   7/1/26         15         15
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26      6,845      6,972
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26     16,945     17,280
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26        810        826
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26        960        978
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26      2,445      2,490
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26      3,500      3,565
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26        130        133
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26        925        943
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26         85         87
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26      9,140      9,321
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26         45         46
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26         25         25
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26        710        724
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26        200        204
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26        145        148
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26      8,150      8,311
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/26      2,750      2,804
  Los Angeles Department of Water & Power Electric Power & Light Revenue 4.000%   7/1/27        470        477
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        555        576
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27      1,330      1,380
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        840        872
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27      1,130      1,172
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27      3,455      3,585
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27         45         47
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        505        524
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        610        627
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27      2,265      2,350
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        360        374
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27         50         52
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        125        130
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        135        137
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27      1,020      1,049
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27         30         31
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28      2,920      3,071
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28      1,435      1,509
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28      1,710      1,798
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28      3,775      3,970
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28      1,560      1,629
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        310        326
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        765        787
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        290        301
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        230        242
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        805        847
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        655        689
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        195        197
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        225        237
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        200        210
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        185        195
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        325        342
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      2,340      2,492
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29         50         53
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      1,765      1,879
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        695        740
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      2,335      2,486
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29         15         15
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      1,130      1,168
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      3,305      3,444
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        940        986
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      1,015      1,074
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      1,160      1,227
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        105        106
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29         80         81
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        640        657
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29         35         37
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        800        852
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        330        351
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29      1,225      1,304
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        375        399
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29         70         75
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        730        771
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        645        695
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30      5,920      6,377
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30      2,210      2,298
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30      1,835      1,939
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        280        287
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30      2,375      2,558
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        280        293
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30      1,245      1,324
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30         15         15
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        330        339
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        805        856
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        110        118
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        230        248
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30         40         43
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30         25         27
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        700        754
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        140        143
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      1,880      1,949
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      2,535      2,671
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        760        828
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      1,015      1,105
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      2,110      2,200
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      3,920      4,268
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        280        289
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        200        211
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      1,640      1,738
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        350        353
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        560        565
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      1,020      1,081
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        550        592
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      1,585      1,716
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        410        446
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      1,415      1,541
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31      1,600      1,742
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        100        109
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31         75         82
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        250        272
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        300        327
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32      1,795      1,854
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        500        525
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        800        840
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32      1,860      1,965
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32      1,740      1,913
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        130        133
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        320        329
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        405        421
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        410        433
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32         35         35
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        195        199
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32         45         48
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32         15         16
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        325        353
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        110        120
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33        210        220
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33         15         15
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33         20         22
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33        375        394
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33        280        294
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33         15         16
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33        410        443
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33        490        532
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33        390        423
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/33         65         72
5,6 Los Angeles Department of Water & Power Water Revenue TOB VRDO 2.750%   2/3/25      3,000      3,000
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/25        100        101
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/25        525        528
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/26        460        470
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/26         50         51
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/26         15         15
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/26      1,100      1,123
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/26        740        755
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/26        150        153
  Los Angeles Department of Water & Power Water System Water Revenue 3.000%   7/1/27         10         10
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/27        955        970
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/27         10         10
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/27        185        187
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/27        400        412
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/27        225        234
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/27        290        301
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/28        310        315
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/28        160        162
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/28      1,030      1,085
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/28         10         11
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/28        115        116
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/28         10         11
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/29        165        168
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/29        405        409
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/29        635        678
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/29      1,155      1,233
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/29        180        192
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/29        130        131
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/29        295        308
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/29        570        609
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/30         10         10
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/30         70         71
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/30        390        422
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/30         30         30
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/30        320        328
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/30      1,200      1,298
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/30        310        323
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31      1,115      1,126
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31      1,090      1,100
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31        480        524
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31        365        399
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31        675        737
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31         30         33
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31        375        384
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31      1,100      1,201
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31        225        233
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/31        690        720
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        400        441
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        570        628
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        915      1,003
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32      1,015      1,119
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        590        651
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        765        772
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        205        207
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        880        900
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32         25         26
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32         80         83
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/32        120        129
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/33        535        547
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/33        265        267
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/33         70         73
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/33      2,125      2,358
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/33         15         16
  Los Angeles Department of Water & Power Water System Water Revenue VRDO 4.250%   2/3/25     15,354     15,354
  Los Angeles Department of Water & Power Water System Water Revenue VRDO 4.250%   2/3/25     13,229     13,229
  Los Angeles Department of Water & Power Water System Water Revenue VRDO 4.250%   2/6/25      8,261      8,261
  Los Angeles Department of Water & Power Water System Water Revenue VRDO 4.500%   2/6/25      4,809      4,809
  Metropolitan Water District of Southern California Water Revenue 5.000%   7/1/25      2,625      2,653
  Metropolitan Water District of Southern California Water Revenue 4.000%  10/1/29      1,350      1,432
  Metropolitan Water District of Southern California Water Revenue VRDO 1.100%   2/6/25     62,400     62,400
  Northern California Energy Authority Natural Gas Revenue 5.000%   8/1/30      2,545      2,714
  Northern California Energy Authority Natural Gas Revenue PUT 5.000%   8/1/30     53,065     56,231
5 Nuveen California AMT-Free Quality Municipal Income Fund VRDO VRDP 2.700%   2/3/25     22,200     22,200
  Palomar Health, Hospital, Nursing Home Revenue 5.000%  11/1/25      3,000      3,015
  Palomar Health, Hospital, Nursing Home Revenue 5.000%  11/1/27      3,665      3,604
  Peralta Community College District GO 4.000%   8/1/31      5,500      5,502
3 Pittsburg Successor Agency Redevelopment Agency Tax Increment/Allocation Revenue 5.000%   9/1/25      1,450      1,467
  Poway Unified School District GO 4.000%   8/1/30      7,790      7,808
  Riverside County Transportation Commission Sales Tax Revenue 5.000%   6/1/34      1,150      1,208
1 Sacramento CA City Unified School District GO 5.000%   7/1/25      1,000      1,009
1 Sacramento CA City Unified School District GO 5.000%   7/1/26      1,350      1,392
1 Sacramento CA City Unified School District GO 5.000%   7/1/27      1,825      1,921
1 Sacramento CA City Unified School District GO 5.000%   7/1/28      1,245      1,335
1 Sacramento CA City Unified School District GO 5.000%   7/1/29      1,000      1,091
  San Diego Housing Authority Inc. Local or Guaranteed Housing Revenue PUT 5.000%  11/1/26      2,450      2,508
  San Francisco Bay Area Rapid Transit District GO 5.000%   8/1/27      3,085      3,121
  San Francisco Bay Area Rapid Transit District GO 4.000%   8/1/34      4,425      4,431
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  San Francisco Bay Area Rapid Transit District GO 4.000%   8/1/35      4,165      4,168
  San Francisco CA City & County GO 5.000%  6/15/26      4,370      4,516
  San Francisco CA City & County GO 2.000%  6/15/27      2,265      2,187
  San Francisco CA City & County GO 5.000%  6/15/27      4,145      4,386
  San Francisco CA City & County GO 2.000%  6/15/28      3,790      3,579
  San Francisco CA City & County GO 5.000%  6/15/29      4,150      4,576
  San Francisco CA Public Utilities Commission Water Revenue 4.000%  11/1/33     10,000     10,007
6 San Francisco City & County Airport Commission-San Francisco International Airport Port, Airport & Marina Revenue VRDO 1.100%   2/5/25     33,825     33,825
5,6 San Francisco City & County Local or Guaranteed Housing Revenue TOB VRDO 2.570%   2/6/25     18,251     18,251
5,6 San Francisco City & County Local or Guaranteed Housing Revenue TOB VRDO 2.570%   2/6/25     11,350     11,350
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/29      4,175      4,628
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue PUT 4.000%  10/1/29     35,850     37,466
  San Francisco Municipal Transportation Agency Transit Revenue 5.000%   3/1/30      4,290      4,476
  San Jose Unified School District GO 5.000%   8/1/32      4,380      4,425
  San Mateo County Transit District Sales Tax Revenue 4.000%   6/1/32      5,000      5,010
  San Mateo Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue 5.000%   8/1/31      1,000      1,008
  Santa Cruz County Capital Financing Authority Lease (Abatement) Revenue 4.000%   6/1/29        160        168
  Santa Cruz County Capital Financing Authority Lease (Abatement) Revenue 4.000%   6/1/30        165        171
  Santa Cruz County Capital Financing Authority Lease (Abatement) Revenue 4.000%   6/1/31        140        144
  Santa Cruz County Capital Financing Authority Lease (Abatement) Revenue 4.000%   6/1/32        540        556
  Santa Cruz County Capital Financing Authority Lease (Abatement) Revenue 4.000%   6/1/33        135        139
  Santa Cruz County Capital Financing Authority Lease (Abatement) Revenue 4.000%   6/1/34        750        768
  Southern California Public Power Authority Electric Power & Light Revenue 5.000%   7/1/27      2,110      2,188
  Southern California Public Power Authority Electric Power & Light Revenue 5.000%   7/1/29      1,510      1,617
  Southern California Public Power Authority Electric Power & Light Revenue (Apex Power Project) 5.000%   7/1/30      1,035      1,123
  Southern California Public Power Authority Electric Power & Light Revenue (Canyon Power Project) PUT 0.650%   7/1/25     15,000     14,819
  Southern California Public Power Authority Electric Power & Light Revenue (Clean Energy Project) 5.000%   9/1/30        750        796
  Southern California Public Power Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   9/1/30     44,145     46,417
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/27        390        406
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/29        365        391
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/30        690        749
  Southern California Public Power Authority Electric Power & Light Revenue (Windy Point/Windy Flats Project) 5.000%   7/1/26        810        827
  Southern California Public Power Authority Electric Power & Light Revenue (Windy Point/Windy Flats Project) 5.000%   7/1/28      1,115      1,178
  Southern California Public Power Authority Electric Power & Light Revenue (Windy Point/Windy Flats Project) 5.000%   7/1/29      1,850      1,982
  Tobacco Securitization Authority of Northern California Tobacco Settlement Funded Revenue 5.000%   6/1/26      2,000      2,039
  University of California College & University Revenue 5.000%  5/15/29      5,000      5,476
  University of California College & University Revenue 5.000%  5/15/29      7,110      7,788
  University of California College & University Revenue 5.000%  5/15/31     13,000     14,721
  University of California College & University Revenue 5.000%  5/15/31     13,250     15,004
4 University of California College & University Revenue 5.000%  5/15/31     44,835     50,734
  University of California College & University Revenue (Limited Project) 4.000%  5/15/34     28,080     28,177
  University of California College & University Revenue VRDO 0.760%   2/6/25    113,545    113,545
  Vernon CA Electric System Electric Power & Light Revenue 5.000%   4/1/25        700        702
  Vernon CA Electric System Electric Power & Light Revenue 5.000%   4/1/26        525        536
  Vernon CA Electric System Electric Power & Light Revenue 5.000%  10/1/26        725        747
  Vernon CA Electric System Electric Power & Light Revenue 5.000%   4/1/27        600        623
  Vernon CA Electric System Electric Power & Light Revenue 5.000%  10/1/27        780        817
  Vernon CA Electric System Electric Power & Light Revenue 5.000%   4/1/28        650        686
  Vernon CA Electric System Electric Power & Light Revenue 5.000%   8/1/28        500        530
9 Vista Unified School District GO 0.000%   8/1/28      7,425      6,626
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        965        969
3 William S Hart Union High School District GO 0.000%   9/1/27        515        475
                                   3,049,255
Colorado (1.8%)
  Adams 12 Five Star Schools GO 5.000% 12/15/29      6,500      6,739
  Adams County Housing Authority Local or Guaranteed Housing Revenue PUT 4.500%   5/1/26      3,800      3,803
10 Baseline Metropolitan District No. 1 GO 5.000%  12/1/27      1,000      1,046
10 Baseline Metropolitan District No. 1 GO 5.000%  12/1/29      1,000      1,072
10 Baseline Metropolitan District No. 1 GO 5.000%  12/1/30      1,000      1,085
10 Baseline Metropolitan District No. 1 GO 5.000%  12/1/31      1,000      1,095
  Board of Governors of Colorado State University System College & University Revenue PUT 4.375%   3/1/29        680        705
  Boulder County CO Sales Tax Revenue 2.000%  7/15/29      1,950      1,747
  Boulder County CO Sales Tax Revenue 2.000%  7/15/30      1,500      1,316
  Broomfield CO City & County Sales & Use Sales Tax Revenue 3.000%  12/1/26      3,070      3,052
1 Canyons Metropolitan District No. 5 GO 5.000%  12/1/27        250        263
1 Canyons Metropolitan District No. 5 GO 5.000%  12/1/29        200        216
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 Canyons Metropolitan District No. 5 GO 5.000%  12/1/31        200        221
3 Castle Oaks Metropolitan District No. 3 GO 4.000%  12/1/27        200        205
3 Castle Oaks Metropolitan District No. 3 GO 4.000%  12/1/28        100        103
5 Centerra Metropolitan District No. 1 Tax Increment/Allocation Revenue 5.000%  12/1/29     15,292     15,327
  Colorado Educational & Cultural Facilities Authority Charter School Aid Revenue (American Academy Project) 5.000%  12/1/27      1,635      1,685
  Colorado Educational & Cultural Facilities Authority Charter School Aid Revenue (Aspen View Academy Project) 4.000%   5/1/25        105        105
  Colorado Educational & Cultural Facilities Authority Charter School Aid Revenue (Aspen View Academy Project) 4.000%   5/1/27         65         65
  Colorado Educational & Cultural Facilities Authority Charter School Aid Revenue (Aspen View Academy Project) 4.000%   5/1/28        140        141
  Colorado Educational & Cultural Facilities Authority College & University Revenue (University of Denver Project) 4.000%   3/1/31      1,200      1,212
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/25        800        804
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      3,545      3,578
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      3,450      3,482
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25        545        553
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/26      1,285      1,283
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/26        445        444
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      3,035      3,120
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      3,500      3,597
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/26      2,500      2,588
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/27        375        374
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/27        495        494
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/27      1,600      1,673
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/27      2,210      2,321
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/27        730        767
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/28        455        454
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 2.125%  5/15/28      3,000      2,886
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/28        700        746
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/29      4,770      5,155
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/29      1,830      1,978
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/29     25,220     27,289
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/30      3,000      3,296
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/30      6,055      6,507
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/31      1,040      1,073
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/31      3,250      3,616
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/31      1,400      1,545
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/31      2,000      2,157
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue (Boulder Community Health Project) 5.000%  10/1/25        185        187
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue (Boulder Community Health Project) 5.000%  10/1/26        450        464
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue (Boulder Community Health Project) 5.000%  10/1/27        300        313
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue (Craig Hospital Project) 5.000%  12/1/28      1,125      1,187
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   8/1/25      4,050      4,057
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/20/25     22,925     23,281
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   8/1/26      3,220      3,290
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  8/17/26     41,110     42,256
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/19/26     16,050     16,586
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  8/15/28     49,805     52,805
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/28     10,075     10,753
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/29     10,500     11,314
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/30     17,450     18,846
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/31      6,500      7,208
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue VRDO 2.200%   2/6/25     25,090     25,090
  Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue, ETM 5.000%   6/1/25      1,245      1,253
2 Colorado Health Facilities Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.550% 2.800%  5/15/61     13,980     13,924
  Colorado Higher Education COP 5.000%   9/1/27      1,445      1,520
  Colorado Housing & Finance Authority Local or Guaranteed Housing Revenue 4.000%  11/1/48      1,380      1,384
  Colorado Housing & Finance Authority Local or Guaranteed Housing Revenue 4.250%  11/1/48      4,415      4,447
  Colorado Housing & Finance Authority Local or Guaranteed Housing Revenue 3.500%   5/1/50      6,675      6,629
  Colorado Housing & Finance Authority Local or Guaranteed Housing Revenue 5.250%  11/1/52      1,985      2,055
  Colorado Housing & Finance Authority Local or Guaranteed Housing Revenue PUT 3.500%  11/1/26      1,400      1,403
  Colorado Housing & Finance Authority Local or Guaranteed Housing Revenue PUT 3.180%   9/1/27        750        747
5,6 Colorado Housing & Finance Authority Local or Guaranteed Housing Revenue TOB VRDO 2.200%   2/3/25     13,050     13,050
2 Colorado School of Mines College & University Revenue, SIFMA Municipal Swap Index Yield + 0.870% 3.120%  12/1/25      4,715      4,715
3 Colorado Science & Technology Park Metropolitan District No. 1 Intergovernmental Agreement Revenue 5.000%  12/1/25        500        508
3 Colorado Science & Technology Park Metropolitan District No. 1 Intergovernmental Agreement Revenue 5.000%  12/1/27        400        420
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
3 Colorado Science & Technology Park Metropolitan District No. 1 Intergovernmental Agreement Revenue 5.000%  12/1/29        250        270
3 Colorado Science & Technology Park Metropolitan District No. 1 Intergovernmental Agreement Revenue 5.000%  12/1/30        750        818
  Denver CO City & County (Colorado Convention Center Expansion Project) COP 5.000%   6/1/30      1,425      1,464
  Denver CO City & County (Colorado Convention Center Expansion Project) COP 5.000%   6/1/32      1,360      1,394
  Denver Convention Center Hotel Authority Economic Development Revenue 5.000%  12/1/31      4,445      4,529
5 Denver Health & Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/28      2,785      2,863
  Dominion Water & Sanitation District Water Revenue 5.000%  12/1/27      1,678      1,700
1 Dove Valley Metropolitan District GO 4.000%  12/1/26        300        305
9 E-470 Public Highway Authority Highway Revenue 0.000%   9/1/26      1,035        985
2 E-470 Public Highway Authority Highway Revenue, 67% of SOFR + 0.750% 3.665%   9/1/39     15,150     15,169
9 E-470 Public Highway Authority Miscellaneous Revenue 0.000%   9/1/27     13,895     12,779
9 E-470 Public Highway Authority Miscellaneous Revenue 0.000%   9/1/28     20,115     17,862
  Elbert County Independence Water & Sanitation District Water Revenue 5.125%  12/1/33      1,805      1,762
1 Fossil Ridge Metropolitan District No. 3 GO 5.000%  12/1/25        250        254
1 Fossil Ridge Metropolitan District No. 3 GO 5.000%  12/1/26        350        361
1 Fossil Ridge Metropolitan District No. 3 GO 5.000%  12/1/27        485        507
1 Fossil Ridge Metropolitan District No. 3 GO 5.000%  12/1/28        500        530
  Gardens on Havana Metropolitan District No. 3 Miscellaneous Taxes Revenue 4.625%  12/1/27        500        501
  Garfield County School District No. Re002 Garfield GO 4.000%  12/1/28      1,000      1,006
3 Interlocken Metropolitan District GO 5.000%  12/1/25      1,000      1,016
  Nine Mile Metropolitan District Tax Increment/Allocation Revenue 4.625%  12/1/30      1,125      1,138
3 Park Creek Metropolitan District Tax Increment/Allocation Revenue 5.000%  12/1/27        225        235
3 Park Creek Metropolitan District Tax Increment/Allocation Revenue 5.000%  12/1/29        240        257
3 Park Creek Metropolitan District Tax Increment/Allocation Revenue 5.000%  12/1/30        325        353
3 Park Creek Metropolitan District Tax Increment/Allocation Revenue 5.000%  12/1/31        300        328
5 Plaza Metropolitan District No. 1 Tax Increment/Allocation Revenue 4.500%  12/1/30      6,000      5,992
5 Prairie Center Metropolitan District No. 3 Miscellaneous Revenue 4.125% 12/15/27      1,275      1,281
  Public Authority for Colorado Energy Natural Gas Revenue 6.250% 11/15/28      6,710      7,045
  Regional Transportation District COP 5.000%   6/1/25      1,730      1,743
  Regional Transportation District COP 5.000%   6/1/26      1,690      1,701
  Regional Transportation District COP 5.000%   6/1/26      1,000      1,030
  Regional Transportation District COP 5.000%   6/1/27      3,835      3,860
  Regional Transportation District Sales Tax Revenue 5.000%  7/15/25        810        816
  Regional Transportation District Sales Tax Revenue 5.000%  7/15/26        600        613
  Regional Transportation District Sales Tax Revenue 5.000%  1/15/27        600        618
  Regional Transportation District Sales Tax Revenue 5.000%  7/15/27      1,625      1,684
  Regional Transportation District Sales Tax Revenue 5.000%  1/15/28        600        626
  Regional Transportation District Sales Tax Revenue 5.000%  7/15/28        900        944
  Regional Transportation District Sales Tax Revenue 5.000%  1/15/29        535        565
  Sterling Ranch Community Authority Board Ad Valorem Property Tax Revenue 5.800%  12/1/32      2,000      2,117
  University of Colorado College & University Revenue 5.000%  10/1/30     20,000     22,121
  University of Colorado College & University Revenue PUT 2.000% 10/15/25      3,240      3,206
  University of Colorado College & University Revenue PUT 2.000% 10/15/26      4,245      4,135
  University of Colorado Hospital Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/29     10,585     11,490
  University of Colorado Hospital Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/31     17,290     19,198
3 Vauxmont Metropolitan District GO 5.000%  12/1/25        180        183
3 Vauxmont Metropolitan District GO 5.000%  12/1/26        195        201
3 Vauxmont Metropolitan District GO 5.000%  12/1/27        205        215
3 Vauxmont Metropolitan District GO 5.000% 12/15/27        255        263
                                     552,708
Connecticut (1.8%)
  Bridgeport CT GO 5.000%  2/15/26      1,560      1,591
1 Bridgeport CT GO 5.000%   7/1/30      1,000      1,099
1 Bridgeport CT GO 5.000%   7/1/31      2,100      2,335
  Connecticut GO 5.000%  4/15/25      7,075      7,107
  Connecticut GO 5.000%  5/15/25     10,000     10,065
  Connecticut GO 5.000%  9/15/25      5,345      5,420
  Connecticut GO 5.000% 10/15/25      2,115      2,149
  Connecticut GO 4.000%  5/15/26      1,175      1,194
  Connecticut GO 4.000%  5/15/27        100        101
  Connecticut GO 3.000%   6/1/27      5,000      5,002
  Connecticut GO 3.000%   6/1/28      6,875      6,864
  Connecticut GO 5.000% 11/15/28        100        101
  Connecticut GO 4.000%  1/15/30      3,500      3,670
  Connecticut GO 5.000% 11/15/30     10,000     11,113
  Connecticut GO 5.000% 11/15/30      4,625      5,140
  Connecticut GO 5.000% 11/15/31      6,305      7,095
  Connecticut GO 5.000% 11/15/31      9,550     10,747
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue 4.000% 11/15/47      2,250      2,254
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue 4.000%  5/15/49      4,995      5,027
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue 3.000% 11/15/49      1,040      1,017
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue 3.000% 11/15/50      3,030      2,973
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue 3.500% 11/15/51      5,460      5,400
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue 6.000% 11/15/54      1,560      1,689
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.400%  5/15/25        250        248
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.450% 11/15/25        350        342
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.550%  5/15/26        500        475
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.550%  5/15/26        180        172
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.600% 11/15/26        850        791
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.600% 11/15/26      1,040        975
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.700%  5/15/27      1,000        918
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.700%  5/15/27      1,250      1,156
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.750% 11/15/27      1,000        903
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.750% 11/15/27      1,250      1,138
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.850%  5/15/28      1,750      1,545
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.850%  5/15/28      1,100        990
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.900% 11/15/28      1,010        889
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 0.900% 11/15/28      1,100        968
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 3.500% 11/15/45        635        630
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) 4.000% 11/15/49      1,365      1,374
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue (Housing Mortgage Finance Program) PUT 3.650% 11/15/25      1,000      1,000
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue PUT 4.400% 11/15/26      3,180      3,189
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.350%  5/15/27        825        825
  Connecticut Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.850%  5/15/27      7,220      7,232
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   9/1/27      1,000      1,032
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/28      9,240      9,895
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   8/1/28        500        504
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/29      4,500      4,899
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/29      6,480      7,055
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   8/1/29        365        368
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/30      7,000      7,736
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   8/1/33      1,530      1,541
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/25      1,665      1,671
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/25        500        504
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%  11/1/25      1,290      1,311
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%  11/1/26      1,465      1,518
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/29        300        309
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/29        630        649
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/30      2,000      2,011
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/32      4,365      4,387
  Connecticut State Health & Educational Facilities Authority College & University Revenue PUT 1.100%  2/11/25     19,990     19,976
  Connecticut State Health & Educational Facilities Authority College & University Revenue PUT 1.100%  2/11/25     27,870     27,851
  Connecticut State Health & Educational Facilities Authority College & University Revenue PUT 1.100%  2/11/25     16,050     16,039
  Connecticut State Health & Educational Facilities Authority College & University Revenue PUT 2.800%   2/3/26     23,940     23,849
  Connecticut State Health & Educational Facilities Authority College & University Revenue PUT 2.800%  2/10/26      8,450      8,417
  Connecticut State Health & Educational Facilities Authority College & University Revenue PUT 2.000%   7/1/26     32,110     31,586
  Connecticut State Health & Educational Facilities Authority College & University Revenue PUT 2.950%   7/1/27      5,325      5,299
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/25        385        385
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      5,925      5,956
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        175        176
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/26        600        604
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,000      1,026
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        200        204
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      2,735      2,815
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/27      2,000      2,034
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,970      2,035
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,750      1,827
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        250        260
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      5,500      5,769
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/28      1,950      1,986
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      6,570      6,841
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        345        365
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      3,800      4,054
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      5,250      5,518
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        820        877
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      3,700      3,998
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      8,745      9,374
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        525        563
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      2,000      2,092
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30        425        459
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      3,300      3,614
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30     20,185     21,877
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30        525        569
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,600      1,775
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/31     31,690     34,657
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/31        700        766
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   1/1/27     16,750     17,204
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/29      3,650      3,919
  Connecticut State Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue VRDO 2.150%   2/5/25     67,280     67,280
  Connecticut State Health & Educational Facilities Authority Local or Guaranteed Housing Revenue 5.000%   7/1/25        125        126
  Connecticut State Health & Educational Facilities Authority Local or Guaranteed Housing Revenue 5.000%   7/1/26        250        257
  Connecticut State Health & Educational Facilities Authority Local or Guaranteed Housing Revenue 5.000%   7/1/27      1,050      1,096
5 Danbury CT BAN GO 5.000%  2/24/25     16,250     16,268
  Hamden CT Health, Hospital, Nursing Home Revenue (Whitney Center Project) 5.000%   1/1/30      4,610      4,690
5 Harbor Point Infrastructure Improvement District Tax Increment/Allocation Revenue (Harbor Point Project) 5.000%   4/1/30      1,115      1,131
  Hartford CT Special Obligation Revenue 5.000%   4/1/25      1,495      1,500
  Hartford CT Special Obligation Revenue 5.000%   4/1/26      1,475      1,512
  Hartford CT Special Obligation Revenue 5.000%   4/1/27      2,120      2,216
  Hartford CT Special Obligation Revenue 5.000%   4/1/28      2,750      2,925
  Metropolitan District GO 3.000%   3/1/29      3,000      2,951
  Norwalk Housing Authority Local or Guaranteed Housing Revenue PUT 3.050%   9/1/27      6,235      6,209
  University of Connecticut College & University Revenue 5.000%  11/1/25      1,000      1,017
  University of Connecticut College & University Revenue 5.000%  2/15/29        750        751
  University of Connecticut College & University Revenue 5.000%  8/15/29      1,240      1,352
  University of Connecticut College & University Revenue 5.000%  8/15/30      1,275      1,412
  University of Connecticut College & University Revenue 5.000%  8/15/30      1,600      1,772
  Washington CT BAN GO 4.000%   4/2/25      2,370      2,373
                                     563,757
Delaware (0.1%)
  Delaware State Economic Development Authority Charter School Aid Revenue (Newark Charter School Inc. Project) 2.800%   9/1/26        120        118
  Delaware State Economic Development Authority Electric Power & Light Revenue (NRG Energy Project) PUT 1.250%  10/1/25     11,435     11,223
  Delaware State Economic Development Authority Electric Power & Light Revenue (NRG Energy Project) PUT 1.250%  10/1/25      4,095      4,019
  Delaware State Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/25      1,260      1,266
  Delaware State Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/26        800        815
                                      17,441
District of Columbia (0.8%)
  District of Columbia Charter School Aid Revenue 5.000%   7/1/25        225        226
  District of Columbia Charter School Aid Revenue 5.000%   7/1/26        600        611
5 District of Columbia Charter School Aid Revenue 5.000%   6/1/29      1,205      1,221
5 District of Columbia Charter School Aid Revenue 5.000%   6/1/31      1,700      1,736
  District of Columbia Charter School Aid Revenue 5.000%   6/1/34        325        332
  District of Columbia College & University Revenue 5.000%   4/1/27        570        589
  District of Columbia College & University Revenue 5.000%   4/1/28        650        680
  District of Columbia College & University Revenue 5.000%   4/1/29        250        265
  District of Columbia GO 5.000%   6/1/26      3,205      3,299
  District of Columbia GO 5.000%   6/1/27      3,110      3,270
  District of Columbia GO 5.000%   6/1/28      6,855      7,346
  District of Columbia GO 5.000%   6/1/29      9,230     10,062
  District of Columbia GO 5.000%   6/1/30     15,000     16,603
  District of Columbia GO 5.000%  12/1/30      5,750      6,414
  District of Columbia GO 5.000%   8/1/31      3,095      3,487
  District of Columbia Health, Hospital, Nursing Home Revenue (Ingleside Rock Creek Project) 4.125%   7/1/27      2,320      2,310
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  District of Columbia Health, Hospital, Nursing Home Revenue (Ingleside Rock Creek Project) 5.000%   7/1/32      2,050      2,074
8 District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue (2911 Rhode Island Apartments Project) 5.000%   3/1/28      1,700      1,782
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue (Fort Totten Project) PUT 5.000%  12/1/25     13,652     13,849
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue (Paxton Project) PUT 4.000%   9/1/25      5,040      5,044
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 1.700%   3/1/25      7,580      7,566
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%  12/1/25     17,123     17,371
8 District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%  12/1/25      2,790      2,828
8 District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%   6/1/26      5,065      5,134
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%  10/1/26      9,175      9,366
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%  12/1/27      2,955      3,078
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%   2/1/28      1,775      1,856
8 District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 4.400%   9/1/28     16,450     16,838
  District of Columbia Housing Finance Agency Local or Guaranteed Housing Revenue PUT 4.100%   9/1/30     12,750     13,083
  District of Columbia Income Tax Revenue 5.000%  12/1/27      4,320      4,585
  District of Columbia Income Tax Revenue 5.000%  12/1/29      3,205      3,524
  District of Columbia Income Tax Revenue 5.000%  10/1/30      6,940      7,722
  District of Columbia Income Tax Revenue 5.000%  12/1/30      4,450      4,964
  District of Columbia Water & Sewer Authority Water Revenue PUT 3.000%  10/1/27     12,765     12,707
1,5 Metropolitan Washington Airports Authority Dulles Toll Road Highway Revenue TOB VRDO 2.370%   2/6/25     18,384     18,384
3,5 Metropolitan Washington Airports Authority Highway Revenue TOB VRDO 2.370%   2/6/25      5,455      5,455
5,6 Metropolitan Washington Airports Authority Highway Revenue TOB VRDO 2.370%   2/6/25     32,950     32,950
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 5.000%  7/15/29      2,080      2,266
  Washington Metropolitan Area Transit Authority Transit Revenue 5.000%   7/1/31      5,915      6,165
                                     257,042
Florida (3.3%)
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/25        820        818
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/25        145        145
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      1,500      1,521
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/26        240        239
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      2,175      2,236
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/27        145        144
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/28      1,010      1,003
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/29        135        134
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/29        505        501
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/31      1,015      1,086
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/32      3,100      3,305
  Alachua County Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  12/1/26      8,735      8,908
  Alachua County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.300%   6/1/27     15,000     14,993
  Ave Maria Stewardship Community District Special Assessment Revenue 2.875%   5/1/27      1,340      1,310
  Ave Maria Stewardship Community District Special Assessment Revenue 3.250%   5/1/32      5,080      4,764
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/25      1,050      1,053
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/25      3,000      3,009
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/26      1,110      1,133
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/26      4,000      4,084
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/27      1,165      1,210
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/27      3,595      3,733
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/28      1,220      1,286
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/28      3,800      4,006
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/29      1,280      1,367
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/30        670        725
  Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/30      4,185      4,528
5 Brevard County Health Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.400%   2/6/25      3,750      3,750
  Brevard County School District COP 5.000%   7/1/32      2,980      3,001
3 Brevard FL Fuel Sales Tax Revenue 5.000%   8/1/27      2,000      2,062
  Broward County FL Convention Center Hotel Economic Development Revenue 5.000%   1/1/27      5,870      6,116
  Broward County FL Convention Center Hotel Economic Development Revenue 5.000%   1/1/28      4,445      4,712
  Broward County FL Convention Center Hotel Economic Development Revenue 5.000%   1/1/29      6,775      7,296
  Broward County FL Convention Center Hotel Economic Development Revenue 5.000%   1/1/30      6,665      7,296
  Broward County FL School District COP 5.000%   7/1/26      6,425      6,616
  Broward County FL School District COP 5.000%   7/1/29      4,000      4,030
  Broward County FL Water & Sewer Utility Water Revenue 5.000%  10/1/28      2,000      2,026
  Broward County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.500%   4/1/26      1,000      1,000
  Broward County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.150%   3/1/27      1,875      1,869
5,6 Broward County Housing Finance Authority Local or Guaranteed Housing Revenue TOB VRDO 2.400%   2/7/25      7,717      7,717
  Capital FL Projects Finance Authority College & University Revenue (Florida University Project) 5.000%  10/1/25      1,500      1,513
  Capital FL Projects Finance Authority College & University Revenue (Florida University Project) 5.000%  10/1/27      2,885      2,979
5 Capital Trust Agency Inc. Charter School Aid Revenue 4.000%  6/15/29      1,255      1,214
5 Capital Trust Agency Inc. Charter School Aid Revenue 3.375%   7/1/31      5,285      5,073
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
5 Capital Trust Agency Inc. Charter School Aid Revenue (Florida Charter Educational Foundation Inc. Project) 4.500%  6/15/28        550        545
5 Capital Trust Agency Inc. Charter School Aid Revenue (Franklin Academy Project) 4.000% 12/15/25        150        149
5 Capital Trust Agency Inc. Charter School Aid Revenue (Franklin Academy Project) 5.000% 12/15/28      1,035      1,041
5 Capital Trust Agency Inc. Charter School Aid Revenue (Franklin Academy Project) 5.000% 12/15/30      1,020      1,026
  Capital Trust Agency Inc. Local or Guaranteed Housing Revenue 2.950%   1/1/30     17,459     16,671
  Central Florida Expressway Authority Highway Revenue 5.000%   7/1/28      2,820      2,901
10 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/29      2,185      2,372
10 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/30      1,000      1,103
10 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/30      3,000      3,308
  Central Florida Expressway Authority Highway Revenue 4.000%   7/1/31        200        201
10 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/31        850        950
  Collier County IDA Health, Hospital, Nursing Home Revenue (NHC Healthcare System Project) PUT 5.000%  10/1/29      4,425      4,699
  Collier County IDA Health, Hospital, Nursing Home Revenue (NHC Healthcare System Project) PUT 5.000%  10/1/31      2,350      2,538
  Corkscrew Farms Community Development District Special Assessment Revenue (Assessment Area No.1 Project) 4.250%  11/1/27        825        825
  Crossings At Fleming Island Community Development District Special Assessment Revenue 4.500%   5/1/30      3,110      3,089
  Crosswinds East Community Development District Special Assessment Revenue (Assessment Area One Project) 4.625%   5/1/31        500        503
  Davie FL College & University Revenue (Nova Southeastern University Project) 5.000%   4/1/25        400        401
  Davie FL College & University Revenue (Nova Southeastern University Project) 5.000%   4/1/26        110        112
  Davie FL College & University Revenue (Nova Southeastern University Project) 5.000%   4/1/27        385        400
3 Duval County Public Schools COP 5.000%   7/1/25      1,850      1,867
3 Duval County Public Schools COP 5.000%   7/1/26      2,380      2,452
3 Duval County Public Schools COP 5.000%   7/1/27      3,420      3,584
3 Duval County Public Schools COP 5.000%   7/1/28      4,775      5,085
3 Duval County Public Schools COP 5.000%   7/1/29      5,845      6,306
3 Duval County Public Schools COP 5.000%   7/1/30      6,105      6,680
  Escambia County FL Sales Tax Revenue 5.000%  10/1/33      3,180      3,316
  Escambia County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      3,000      3,167
  Escambia FL County Industrial Revenue (International Paper Co. Project) PUT 3.450%  10/1/31      1,500      1,484
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/25        415        418
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/26        410        421
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/26      1,125      1,156
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/27        360        376
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/27      1,185      1,238
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/28        745        791
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/28        375        399
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/29        500        539
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/30      1,000      1,091
  Florida Atlantic University Finance Corp. Local or Guaranteed Housing Revenue (Student Housing Project) 5.000%   7/1/31        700        773
  Florida Department of Environmental Protection Sales Tax Revenue 5.000%   7/1/25      4,849      4,866
  Florida Department of Management Services COP 5.000%  11/1/25     12,910     13,116
  Florida Department of Transportation Turnpike System Highway Revenue 3.150%   7/1/27     10,760     10,707
5 Florida Development Finance Corp. Charter School Aid Revenue 4.000%  7/15/26      2,365      2,347
5 Florida Development Finance Corp. Charter School Aid Revenue 5.250%  6/15/29      1,500      1,507
  Florida Development Finance Corp. Charter School Aid Revenue 4.875%  6/15/30        875        876
5 Florida Development Finance Corp. Charter School Aid Revenue (Global Outreach Charter Academy Projects) 4.000%  6/30/27        295        284
5 Florida Development Finance Corp. Charter School Aid Revenue (Global Outreach Charter Academy Projects) 4.000%  6/30/28        395        374
  Florida Development Finance Corp. Charter School Aid Revenue (Mater Academy Project) 4.000%  6/15/25        320        320
  Florida Development Finance Corp. Charter School Aid Revenue (Mater Academy Project) 5.000%  6/15/26        390        397
  Florida Development Finance Corp. Charter School Aid Revenue (Mater Academy Project) 5.000%  6/15/27        780        805
  Florida Development Finance Corp. Charter School Aid Revenue (Mater Academy Project) 5.000%  6/15/28        720        742
  Florida Development Finance Corp. Charter School Aid Revenue (Renaissance Charter School Inc. Project) 4.500%  6/15/31      1,750      1,722
  Florida Development Finance Corp. Charter School Aid Revenue (River City Science Academy Project) 4.000%   7/1/25        530        530
  Florida Development Finance Corp. Charter School Aid Revenue (River City Science Academy Project) 4.000%   7/1/26        200        199
  Florida Development Finance Corp. Charter School Aid Revenue (River City Science Academy Project) 4.000%   7/1/27        575        579
  Florida Development Finance Corp. Charter School Aid Revenue (River City Science Academy Project) 4.000%   7/1/28        450        453
  Florida Development Finance Corp. College & University Revenue (Nova Southeastern University Project) 5.000%   4/1/26        285        290
  Florida Development Finance Corp. College & University Revenue (Nova Southeastern University Project) 5.000%   4/1/27        300        312
5 Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 4.000%   6/1/25        495        494
  Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/25      1,400      1,421
5 Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 4.000%   6/1/26        220        219
  Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        500        517
  Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      2,040      2,143
  Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/28      2,050      2,182
5 Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 4.000%   6/1/30      1,435      1,398
  Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/30      1,200      1,310
5 Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue 4.000%   6/1/31      1,395      1,349
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Florida Development Finance Corp. Health, Hospital, Nursing Home Revenue (Tampa General Hospital Project) PUT 5.000%  10/1/31      7,045      7,567
  Florida GO 5.000%   6/1/27      6,595      6,936
  Florida GO 4.000%   6/1/30      4,000      4,044
  Florida GO 4.000%   6/1/32      2,300      2,330
  Florida Gulf Coast University Financing Corp. Local or Guaranteed Housing Revenue (Housing Project) 5.000%   2/1/25        230        230
  Florida Gulf Coast University Financing Corp. Local or Guaranteed Housing Revenue (Housing Project) 5.000%   2/1/26        285        290
  Florida Gulf Coast University Financing Corp. Local or Guaranteed Housing Revenue (Housing Project) 5.000%   2/1/27        500        516
  Florida Higher Educational Facilities Financial Authority College & University Revenue 5.000%  10/1/25      1,090      1,099
  Florida Higher Educational Facilities Financial Authority College & University Revenue 5.000%  10/1/26      1,750      1,782
  Florida Higher Educational Facilities Financial Authority College & University Revenue 5.000%  10/1/27        970        999
  Florida Higher Educational Facilities Financial Authority College & University Revenue (Educational Facilities-Ringling College Project) 5.000%   3/1/27        340        349
  Florida Higher Educational Facilities Financial Authority College & University Revenue (Nova Southeastern University Project) 5.000%   4/1/26        515        524
  Florida Higher Educational Facilities Financial Authority College & University Revenue (Ringling College Project) 5.000%   3/1/25        250        250
  Florida Higher Educational Facilities Financial Authority College & University Revenue (Ringling College Project) 5.000%   3/1/26        275        278
  Florida Higher Educational Facilities Financial Authority College & University Revenue (Saint Leo University Project) 5.000%   3/1/26      1,415      1,393
  Florida Higher Educational Facilities Financial Authority College & University Revenue (Saint Leo University Project) 5.000%   3/1/27      1,485      1,441
  Florida Higher Educational Facilities Financial Authority College & University Revenue (Saint Leo University Project) 5.000%   3/1/28      1,555      1,487
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue 4.000%   7/1/48      1,250      1,252
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue 3.500%   7/1/51      1,485      1,475
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue 3.500%   7/1/52      9,360      9,276
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue 5.000%   1/1/53     12,905     13,295
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue 6.250%   7/1/55      2,745      3,055
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 5.000%   5/1/25      3,065      3,078
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 5.000%   2/1/26      2,220      2,259
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.800%   6/1/27      2,720      2,736
  Florida Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.500%   5/1/28      2,800      2,793
  Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue 5.000%   9/1/26     17,690     18,038
  Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue 5.000%   9/1/27     14,100     14,494
  Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue 5.000%   9/1/28     14,620     15,015
  Florida Municipal Power Agency Electric Power & Light Revenue 5.000%  10/1/25      4,260      4,320
  Florida Municipal Power Agency Electric Power & Light Revenue 5.000%  10/1/26      5,815      6,019
  Florida Municipal Power Agency Electric Power & Light Revenue 5.000%  10/1/27      2,385      2,456
  Florida Municipal Power Agency Electric Power & Light Revenue 5.000%  10/1/31      1,275      1,310
  Florida Municipal Power Agency Nuclear Revenue (St. Lucie Project) 5.000%  10/1/25        250        254
  Florida Municipal Power Agency Nuclear Revenue (St. Lucie Project) 5.000%  10/1/26        175        181
  Florida Municipal Power Agency Nuclear Revenue (St. Lucie Project) 5.000%  10/1/26        920        952
  Florida Municipal Power Agency Nuclear Revenue (St. Lucie Project) 5.000%  10/1/27      1,945      2,036
  Florida Municipal Power Agency Nuclear Revenue (St. Lucie Project) 5.000%  10/1/28      3,610      3,855
  Florida Municipal Power Agency Nuclear Revenue (St. Lucie Project) 5.000%  10/1/29      2,000      2,134
  Florida Municipal Power Agency Nuclear Revenue (St. Lucie Project) 5.000%  10/1/30      2,000      2,133
  Fort Lauderdale FL Water & Sewer Water Revenue 5.000%   9/1/31      7,480      8,417
3 Fort Pierce Utilities Authority Multiple Utility Revenue 5.000%  10/1/26        175        181
3 Fort Pierce Utilities Authority Multiple Utility Revenue 5.000%  10/1/28        350        373
3 Fort Pierce Utilities Authority Multiple Utility Revenue 5.000%  10/1/29        350        378
3 Fort Pierce Utilities Authority Multiple Utility Revenue 5.000%  10/1/30        175        191
  Halifax Hospital Medical Center Health, Hospital, Nursing Home Revenue 5.000%   6/1/25      1,895      1,904
  Halifax Hospital Medical Center Health, Hospital, Nursing Home Revenue 3.375%   6/1/31        815        804
  Halifax Hospital Medical Center Health, Hospital, Nursing Home Revenue, Prere. 5.000%   6/1/25      2,685      2,704
  Hamilton Bluff Community Development District Special Assessment Revenue (Assessment Area One Project) 4.700%   5/1/31        675        677
3 Hernando County School District COP 5.000%   7/1/28      3,825      3,938
1 Herons Glen Recreation District Special Assessment Revenue 2.500%   5/1/25        175        174
1 Herons Glen Recreation District Special Assessment Revenue 2.500%   5/1/26        200        197
1 Herons Glen Recreation District Special Assessment Revenue 2.500%   5/1/27        250        243
  Hialeah FL Utility System Water Revenue 5.000%  10/1/30      1,700      1,833
  Highlands County Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/31      6,075      6,737
  Hillsborough County FL Community Investment Tax Sales Tax Revenue 5.000%  11/1/25      2,270      2,305
  Hillsborough County IDA Health, Hospital, Nursing Home Revenue 5.000% 11/15/29     23,240     25,312
  Hillsborough County IDA Health, Hospital, Nursing Home Revenue VRDO 2.200%   2/5/25     15,000     15,000
  Hillsborough County School Board (Master Lease Program) COP 5.000%   7/1/26      1,000      1,007
  Hillsborough County School Board COP 5.000%   7/1/28         40         41
  Jacksonville FL Health, Hospital, Nursing Home Revenue 5.000%  11/1/25      1,665      1,682
  Jacksonville FL Health, Hospital, Nursing Home Revenue 5.000%  11/1/26      1,000      1,026
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Jacksonville FL Health, Hospital, Nursing Home Revenue 5.000%  8/15/27        235        246
  Jacksonville FL Health, Hospital, Nursing Home Revenue 5.000%  11/1/27      1,545      1,607
  Jacksonville FL Health, Hospital, Nursing Home Revenue 5.000%  11/1/28      2,705      2,821
  Jacksonville FL Miscellaneous Revenue 5.000%  10/1/31      1,710      1,821
  Jacksonville FL Miscellaneous Revenue 5.000%  10/1/33      1,595      1,684
  Jacksonville FL Sales Tax Revenue 5.000%  10/1/25      1,590      1,612
  Jacksonville FL Sales Tax Revenue 4.000%  10/1/27      4,495      4,529
  JEA Electric System Electric Power & Light Revenue 5.000%  10/1/28      4,550      4,799
  JEA Electric System Electric Power & Light Revenue 5.000%  10/1/28      1,070      1,146
10 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/28      4,885      5,250
10 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/29      5,000      5,461
10 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/30      4,705      5,217
10 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/31      8,500      9,542
  JEA Electric System Electric Power & Light Revenue 5.000%  10/1/33      1,750      1,823
  JEA Electric System Electric Power & Light Revenue, ETM 5.000%  10/1/25     27,220     27,612
  JEA Water & Sewer System Water Revenue 5.000%  10/1/30      1,000      1,052
  JEA Water & Sewer System Water Revenue 3.250%  10/1/36        400        373
5 Lake County FL Charter School Aid Revenue (Imagine South Lake Charter School Project) 5.000%  1/15/29        335        338
  Lake Powell Residential Golf Community Development District Special Assessment Revenue 5.750%  11/1/32      1,955      1,956
  Lakeland FL Appropriations Revenue 5.000%  10/1/27        400        420
  Lakeland FL Appropriations Revenue 5.000%  10/1/28        360        382
  Lakeland FL Health, Hospital, Nursing Home Revenue 5.000% 11/15/25      1,945      1,975
  Langley South Community Development District Special Assessment Revenue (Assessment Area One Project) 4.400%   5/1/31      1,240      1,238
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 5.000%   4/1/25      3,500      3,510
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 4.000% 11/15/25        210        210
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 5.000%   4/1/26      1,025      1,046
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 4.000% 11/15/27        245        246
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 4.000% 11/15/28        435        439
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 4.125% 11/15/29      2,400      2,408
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 4.375% 11/15/29        330        331
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 4.000% 11/15/30        920        925
  Lee County FL IDA Health, Hospital, Nursing Home Revenue 5.000%   4/1/33        745        786
  Lee County FL IDA Health, Hospital, Nursing Home Revenue PUT 5.000%   4/1/26     26,000     26,291
  Lee County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.550%   8/1/25      1,250      1,250
  Manatee County FL Appropriations Revenue 5.000%  10/1/25      1,000      1,002
3 Manatee County School District Sales Tax Revenue 5.000%  10/1/31      3,000      3,094
3 Manatee County School District Sales Tax Revenue 5.000%  10/1/32      3,750      3,860
  Miami Beach FL Stormwater Sewer Revenue 5.000%   9/1/25      1,725      1,746
  Miami Beach Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      1,225      1,226
  Miami Beach Redevelopment Agency Tax Increment/Allocation Revenue 5.000%   2/1/26      1,780      1,787
  Miami Beach Redevelopment Agency Tax Increment/Allocation Revenue 5.000%   2/1/28        860        864
  Miami Beach Redevelopment Agency Tax Increment/Allocation Revenue 5.000%   2/1/29      1,165      1,170
  Miami FL Parking System Auto Parking Revenue 5.000%  10/1/25      2,065      2,093
  Miami FL Parking System Auto Parking Revenue 5.000%  10/1/26      2,170      2,238
1 Miami FL Parking System Auto Parking Revenue 5.000%  10/1/27      1,275      1,336
3,5 Miami FL Special Obligation Revenue (Street & Sidewalk Improvement Project) 5.000%   1/1/26      1,360      1,386
  Miami FL Special Obligation Revenue (Street & Sidewalk Improvement Project) 5.000%   3/1/28      1,000      1,063
  Miami-Dade County Educational Facilities Authority College & University Revenue 5.000%   4/1/33      2,500      2,508
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/25      3,425      3,430
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/25      1,105      1,107
1 Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/25        295        296
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/26      5,245      5,252
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/26        305        305
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/27      1,000      1,002
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/29        150        150
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/30      1,250      1,279
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/30      4,000      4,006
  Miami-Dade County Expressway Authority Highway Revenue 5.000%   7/1/32      1,150      1,174
  Miami-Dade County FL (Building Better Communities Program) GO 5.000%   7/1/28      1,900      2,032
  Miami-Dade County FL (Building Better Communities Program) GO 5.000%   7/1/29      3,990      4,337
  Miami-Dade County FL (Building Better Communities Program) GO 5.000%   7/1/30      4,190      4,626
  Miami-Dade County FL (Building Better Communities Program) GO 5.000%   7/1/31      4,400      4,914
  Miami-Dade County FL Aviation Port, Airport & Marina Revenue 5.000%  10/1/26      1,035      1,049
  Miami-Dade County FL Aviation Port, Airport & Marina Revenue 5.000%  10/1/26        275        285
  Miami-Dade County FL Aviation Port, Airport & Marina Revenue 5.000%  10/1/27        430        453
  Miami-Dade County FL Aviation Port, Airport & Marina Revenue 5.000%  10/1/31        585        651
  Miami-Dade County FL GO 5.000%   7/1/33      4,500      4,616
  Miami-Dade County FL Health, Hospital, Nursing Home Revenue 5.000%   6/1/26      3,000      3,016
  Miami-Dade County FL Health, Hospital, Nursing Home Revenue 5.000%   6/1/32      1,500      1,553
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Miami-Dade County FL Rickenbacker Causeway Highway Revenue 5.000%  10/1/25        810        811
  Miami-Dade County FL Rickenbacker Causeway Highway Revenue 5.000%  10/1/26        200        200
  Miami-Dade County FL Rickenbacker Causeway Highway Revenue 5.000%  10/1/33      1,215      1,216
  Miami-Dade County FL Transit System Sales Tax Revenue 5.000%   7/1/32        380        383
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue (Rainbow Village Project) PUT 3.550%   3/1/28      1,795      1,802
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 5.000%   9/1/25      1,500      1,515
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 5.000%   9/1/25      1,625      1,641
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 5.000%  10/1/25      3,035      3,070
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.550%   1/1/26      6,750      6,764
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 2.950%  10/1/26     12,835     12,767
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.400%  10/1/26      1,000      1,000
  Miami-Dade County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.400%   1/1/28      8,065      8,040
  Miami-Dade County IDA Local or Guaranteed Housing Revenue 5.000%   6/1/25      1,015      1,014
  Miami-Dade County School Board COP 5.000%   2/1/25        635        635
  Miami-Dade County School Board COP 5.000%   5/1/27     13,855     13,927
  Miami-Dade County School Board COP 5.000%   5/1/28      2,095      2,106
  Miami-Dade County School Board COP 5.000%   5/1/29      2,000      2,010
4 Miami-Dade County School Board COP 5.000%   5/1/30      5,000      5,501
4 Miami-Dade County School Board COP 5.000%   5/1/31      5,000      5,579
4 Miami-Dade County School Board COP 5.000%   5/1/32      4,000      4,514
  Miami-Dade County School Board COP, ETM 5.000%   5/1/25        155        156
  Miami-Dade County School Board GO 5.000%  3/15/30      1,000      1,021
  Mid-Bay Bridge Authority Highway Revenue 5.000%  10/1/29      1,910      1,926
  Mid-Bay Bridge Authority Highway Revenue 5.000%  10/1/30      3,270      3,298
  Mid-Bay Bridge Authority Highway Revenue 5.000%  10/1/30      6,025      6,076
  Mid-Bay Bridge Authority Highway Revenue 5.000%  10/1/35      2,000      2,014
  Mirada Community Development District Special Assessment Revenue 4.750%   5/1/31        500        501
  Miromar Lakes Community Development District Special Assessment Revenue 5.000%   5/1/28      1,230      1,232
5 Normandy Community Development District Special Assessment Revenue 4.625%   5/1/31        600        594
  North AR-1 Pasco Community Development District Special Assessment Revenue 4.875%   5/1/31        490        493
  North Springs Improvement District Special Assessment Revenue 4.000%   5/1/28      1,510      1,502
  North Sumter County Utility Dependent District Resource Recovery Revenue 5.000%  10/1/27      1,465      1,532
  North Sumter County Utility Dependent District Resource Recovery Revenue 5.000%  10/1/28      1,540      1,634
  North Sumter County Utility Dependent District Resource Recovery Revenue 5.000%  10/1/29      1,615      1,741
  North Sumter County Utility Dependent District Resource Recovery Revenue 5.000%  10/1/30      1,695      1,853
  North Sumter County Utility Dependent District Resource Recovery Revenue 5.000%  10/1/31      1,780      1,972
  North Sumter County Utility Dependent District Water Revenue 5.000%  10/1/26      3,800      3,904
  North Sumter County Utility Dependent District Water Revenue 5.000%  10/1/27      3,995      4,166
  North Sumter County Utility Dependent District Water Revenue 5.000%  10/1/28      4,195      4,432
10 Okaloosa County School Board COP 5.000%  10/1/28        900        966
10 Okaloosa County School Board COP 5.000%  10/1/29        800        873
10 Okaloosa County School Board COP 5.000%  10/1/30      1,295      1,434
10 Okaloosa County School Board COP 5.000%  10/1/31      2,105      2,362
  Okeechobee County FL Resource Recovery Revenue PUT 3.800%   7/2/29      1,915      1,927
  Orange County Convention Center Miscellaneous Taxes Revenue 5.000%  10/1/27      3,130      3,168
  Orange County Convention Center Miscellaneous Taxes Revenue 5.000%  10/1/28      3,565      3,602
  Orange County Convention Center Miscellaneous Taxes Revenue 4.000%  10/1/32      4,435      4,441
  Orange County Convention Center Miscellaneous Taxes Revenue 4.000%  10/1/33      9,740      9,751
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      1,265      1,272
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      1,355      1,382
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26        350        357
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/27      1,455      1,505
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/27        625        647
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/27        575        605
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/28        570        574
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/28        650        680
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/28      1,000      1,068
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/29      1,420      1,502
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/29        455        481
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/29      1,250      1,355
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/30        480        511
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/30      2,500      2,745
  Orange County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/31        755        809
  Orange County Housing Finance Authority Local or Guaranteed Housing Revenue (Mutli-County Program) 4.000%   9/1/48      1,115      1,117
  Orange County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 3.350%   7/1/28     10,920     10,887
  Orange County School Board COP 5.000%   8/1/29      1,300      1,406
  Orange County School Board COP, Prere. 5.000%   8/1/25         40         40
3 Orlando FL Tourist Development Tax Intergovernmental Agreement Revenue 5.000%  11/1/25      1,630      1,652
3 Orlando FL Tourist Development Tax Intergovernmental Agreement Revenue 5.000%  11/1/26      1,475      1,519
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Orlando Utilities Commission Electric Power & Light Revenue PUT 1.250%  10/1/28     28,470     25,546
  Orlando Utilities Commission Water Revenue 5.000%  10/1/29      1,245      1,249
  Osceola County FL Transportation Highway Revenue 0.000%  10/1/25        200        195
  Osceola County FL Transportation Highway Revenue 5.000%  10/1/25        425        429
  Osceola County FL Transportation Highway Revenue 0.000%  10/1/26        340        319
  Osceola County FL Transportation Highway Revenue 5.000%  10/1/26        500        513
  Osceola County FL Transportation Highway Revenue 0.000%  10/1/27        800        725
  Osceola County FL Transportation Highway Revenue 5.000%  10/1/27        600        625
  Palm Beach County Educational Facilities Authority College & University Revenue 4.000%  10/1/25        240        240
  Palm Beach County Educational Facilities Authority College & University Revenue 4.000%  10/1/26        250        251
  Palm Beach County Educational Facilities Authority College & University Revenue 4.000%  10/1/27        260        261
  Palm Beach County Educational Facilities Authority College & University Revenue 4.000%  10/1/28        265        265
  Palm Beach County Educational Facilities Authority College & University Revenue 4.000%  10/1/29        420        420
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/25        350        353
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/26        675        676
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   6/1/26        150        150
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26        455        467
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/27      1,025      1,027
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   6/1/31        915        897
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue (Harbour's Edge Project) 4.000% 11/15/34      1,200      1,178
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue (Jupiter Medical Center Project) 5.000%  11/1/29        200        211
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue (Jupiter Medical Center Project) 5.000%  11/1/30        600        639
  Palm Beach County Health Facilities Authority Health, Hospital, Nursing Home Revenue (Jupiter Medical Center Project) 5.000%  11/1/31        200        214
  Palm Beach County School District COP 5.000%   8/1/28      2,300      2,319
  Palm Beach County School District COP 5.000%   8/1/29        500        532
  Palm Beach County Solid Waste Authority Resource Recovery Revenue 5.000%  10/1/25      1,730      1,735
  Palm Beach County Solid Waste Authority Resource Recovery Revenue 5.000%  10/1/26      1,020      1,023
  Parrish Lakes Community Development District Special Assessment Revenue 5.000%   5/1/31        150        150
5 Pasco County FL Health, Hospital, Nursing Home Revenue (H. Lee Moffitt Cancer Center Project) 5.000%   7/1/30     41,000     44,394
3 Pasco County FL Intergovernmental Agreement Revenue (H. Lee Moffitt Cancer Center Project) 5.250%   9/1/25        750        759
3 Pasco County FL Intergovernmental Agreement Revenue (H. Lee Moffitt Cancer Center Project) 5.250%   9/1/26        870        900
3 Pasco County FL Intergovernmental Agreement Revenue (H. Lee Moffitt Cancer Center Project) 5.250%   9/1/27        905        953
3 Pasco County FL Intergovernmental Agreement Revenue (H. Lee Moffitt Cancer Center Project) 5.250%   9/1/28        950      1,017
3 Pasco County FL Intergovernmental Agreement Revenue (H. Lee Moffitt Cancer Center Project) 5.250%   9/1/29      1,815      1,971
3 Pasco County FL Intergovernmental Agreement Revenue (H. Lee Moffitt Cancer Center Project) 5.250%   9/1/30      4,935      5,427
1 Pasco County School Board COP 5.000%   8/1/25        250        253
  Pinellas County Housing Finance Authority Local or Guaranteed Housing Revenue 4.000%   3/1/50      1,505      1,508
  Pinellas County Housing Finance Authority Local or Guaranteed Housing Revenue (Citrus Grove Apartments Project) PUT 3.300%   1/1/27      4,650      4,639
  Polk County Housing Finance Authority Local or Guaranteed Housing Revenue PUT 4.150%   6/1/26      1,650      1,669
  Port St. Lucie FL GO 4.000%   7/1/32      2,380      2,382
  Port St. Lucie FL GO 4.000%   7/1/33      5,550      5,554
  Port St. Lucie FL Utility System Water Revenue 4.000%   9/1/32      1,225      1,233
  Sawyers Landing Community Development District Special Assessment Revenue 3.250%   5/1/26        200        197
  Seminole County FL Water & Sewer Water Revenue 4.000%  10/1/29      1,450      1,458
5 Seminole County IDA Charter School Aid Revenue (Galileo Schools for Gifted Learning Project) 4.000%  6/15/25        220        220
5 Seminole County IDA Charter School Aid Revenue (Galileo Schools for Gifted Learning Project) 4.000%  6/15/26        305        303
5 Seminole County IDA Charter School Aid Revenue (Galileo Schools for Gifted Learning Project) 4.000%  6/15/27        235        233
5 Seminole County IDA Charter School Aid Revenue (Galileo Schools for Gifted Learning Project) 4.000%  6/15/31        280        274
  South Florida Water Management District COP 5.000%  10/1/30      5,000      5,113
  South Florida Water Management District COP 5.000%  10/1/32      8,250      8,427
  South Miami Health Facilities Authority Inc. Health, Hospital, Nursing Home Revenue 5.000%  8/15/28      1,315      1,374
  South Miami Health Facilities Authority Inc. Health, Hospital, Nursing Home Revenue 5.000%  8/15/29      2,070      2,159
  South Miami Health Facilities Authority Inc. Health, Hospital, Nursing Home Revenue 5.000%  8/15/30      1,500      1,562
  South Miami Health Facilities Authority Inc. Health, Hospital, Nursing Home Revenue 5.000%  8/15/31      5,000      5,195
  St. Johns County IDA Health, Hospital, Nursing Home Revenue (Vicar'S Landing Project) 4.000% 12/15/26        740        728
  St. Johns County IDA Health, Hospital, Nursing Home Revenue (Vicar'S Landing Project) 4.000% 12/15/27        860        841
  St. Johns County IDA Health, Hospital, Nursing Home Revenue (Vicar'S Landing Project) 4.000% 12/15/28        810        786
  Sumter County FL IDA Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,665      1,667
  Tampa FL Health, Hospital, Nursing Home Revenue (H. Lee Moffitt Cancer Center Project) 5.000%   7/1/25        300        302
  Tampa FL Health, Hospital, Nursing Home Revenue (H. Lee Moffitt Cancer Center Project) 5.000%   7/1/26        475        486
  Tampa FL Health, Hospital, Nursing Home Revenue (H. Lee Moffitt Cancer Center Project) 5.000%   7/1/27        375        391
  Tampa FL Tobacco & Liquor Taxes Revenue (H. Lee Moffitt Cancer Center Project) 5.000%   9/1/25      2,000      2,019
  Tohopekaliga Water Authority Water Revenue 4.000%  10/1/33      1,000      1,006
5 TSR Community Development District Special Assessment Revenue 4.125%  11/1/28      1,155      1,153
4,5 V-Dana Community Development District Special Assessment Revenue (Assessment Area Two-2025 Project) 4.450%   5/1/32        405        405
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
5 Venice FL Health, Hospital, Nursing Home Revenue (Village on the ISLE Project) 4.250%   1/1/30        450        450
5 Venice FL Health, Hospital, Nursing Home Revenue (Village on the ISLE Project) 4.500%   1/1/30        400        400
  Village Community Development District No. 13 Special Assessment Revenue 1.800%   5/1/26        250        244
  Village Community Development District No. 14 Special Assessment Revenue 4.000%   5/1/27      3,670      3,690
5 Village Community Development District No. 15 Special Assessment Revenue 4.250%   5/1/28        500        504
5 Village Community Development District No. 15 Special Assessment Revenue 3.750%   5/1/29      1,500      1,490
5 Village Community Development District No. 15 Special Assessment Revenue 4.375%   5/1/33      2,500      2,544
  Volusia County Educational Facility Authority College & University Revenue 5.000%   6/1/26        540        542
  Volusia County Educational Facility Authority College & University Revenue 5.000%   6/1/30        795        795
  Volusia County Educational Facility Authority College & University Revenue 5.000%   6/1/31      1,270      1,271
  Volusia County Educational Facility Authority College & University Revenue 5.000%   6/1/32      1,460      1,460
  West Villages Improvement District Special Assessment Revenue 4.000%   5/1/27      1,405      1,400
  Westside Haines City Community Development District Special Assessment Revenue (Assessment Area Two Project) 4.875%   5/1/31        500        503
  Westview South Community Development District Special Assessment Revenue (Assessment Area One -2023 Project) 4.875%   5/1/28        295        297
1 Wildwood Utility Dependent District Water Revenue (South Sumter Utility Project) 5.000%  10/1/26        260        268
1 Wildwood Utility Dependent District Water Revenue (South Sumter Utility Project) 5.000%  10/1/27        375        394
1 Wildwood Utility Dependent District Water Revenue (South Sumter Utility Project) 5.000%  10/1/28      1,000      1,066
                                   1,025,319
Georgia (4.1%)
  Albany-Dougherty County Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   9/1/25      2,945      2,975
  Albany-Dougherty County Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   9/1/26      3,060      3,145
  Albany-Dougherty County Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   9/1/27      3,180      3,322
  Albany-Dougherty County Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   9/1/28      3,290      3,486
  Albany-Dougherty County Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   9/1/29      3,415      3,667
  Albany-Dougherty County Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   9/1/30      7,045      7,662
  Albany-Dougherty Inner City Authority Lease (Appropriation) Revenue (Albany State University Project) 5.000%   7/1/26        635        651
  Albany-Dougherty Inner City Authority Lease (Appropriation) Revenue (Albany State University Project) 5.000%   7/1/27        665        693
  Albany-Dougherty Inner City Authority Lease (Appropriation) Revenue (Albany State University Project) 5.000%   7/1/28        695        735
  Appling County Development Authority Electric Power & Light Revenue (Oglethorpe Power Corp. Hatch Project) PUT 1.500%   2/3/25      2,780      2,780
  Atlanta GA Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/25      1,250      1,261
  Atlanta GA Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/26      1,000      1,031
  Atlanta GA Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/27      1,355      1,423
  Atlanta GA Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/28      2,020      2,160
  Atlanta GA Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/29      1,080      1,174
  Atlanta GA Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/30      2,345      2,589
  Atlanta GA GO 5.000%  12/1/29      5,000      5,493
  Atlanta GA GO 5.000%  12/1/30      5,000      5,578
  Atlanta GA Tax Increment/Allocation Revenue (Beltline Project) 5.000%   1/1/27      1,350      1,398
8 Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue (Englewood Senior Apartments Project) PUT 5.000%   5/1/27      4,473      4,600
  Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue (Skyline Apartments Project) PUT 3.375%   5/1/25      9,900      9,900
  Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue PUT 5.000%   7/1/26      9,445      9,677
8 Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue PUT 3.400%   2/1/28      1,250      1,251
8 Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue PUT 3.450%   2/1/28     10,000     10,026
  Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue PUT 2.920%   5/1/28      2,350      2,306
  Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue PUT 2.920%   5/1/28      2,050      2,014
  Atlanta Urban Residential Finance Authority Local or Guaranteed Housing Revenue PUT 3.300%   1/1/29      7,500      7,448
  Augusta Development Authority Health, Hospital, Nursing Home Revenue (Health System Inc. Project) 5.000%   7/1/28      1,125      1,184
  Augusta Development Authority Health, Hospital, Nursing Home Revenue (Health System Inc. Project) 5.000%   7/1/29      1,085      1,150
  Augusta Development Authority Health, Hospital, Nursing Home Revenue (Health System Inc. Project) 5.000%   7/1/30        895        943
  Augusta Development Authority Health, Hospital, Nursing Home Revenue (Health System Inc. Project) 5.000%   7/1/32      1,395      1,469
1 Bainbridge GA Combined Utility Multiple Utility Revenue 4.000%  12/1/26        100        102
1 Bainbridge GA Combined Utility Multiple Utility Revenue 4.000%  12/1/27        100        102
1 Bainbridge GA Combined Utility Multiple Utility Revenue 4.000%  12/1/28        100        102
1 Bainbridge GA Combined Utility Multiple Utility Revenue 4.000%  12/1/29        130        133
  Bartow County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Bowen Project) 1.800%   9/1/29      5,000      4,386
  Bartow County Development Authority Electric Power & Light Revenue PUT 3.950%   3/8/28     12,940     13,234
  Bleckley County & Dodge County Joint Development Authority Local or Guaranteed Housing Revenue 5.000%   7/1/25        860        867
  Bulloch County Development Authority College & University Revenue 5.000%   7/1/26        795        817
  Burke County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Vogtle Project) PUT 3.875%   3/6/26      3,590      3,620
  Burke County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Vogtle Project) PUT 3.800%  5/21/26      2,430      2,451
  Burke County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Vogtle Project) PUT 3.800%  5/21/26      7,705      7,772
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Burke County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Vogtle Project) PUT 3.375%  3/12/27      2,290      2,298
  Burke County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Vogtle Project) PUT 3.375%  3/12/27      2,690      2,699
  Burke County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Vogtle Project) PUT 3.700%  6/13/28      1,820      1,849
  Burke County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Vogtle Project) PUT 3.300%  8/21/29      5,945      5,925
4 Burke County Development Authority Electric Power & Light Revenue (Oglethorpe Power Corp. Vogtle Project) PUT 3.600%   2/1/30     10,115     10,107
4 Burke County Development Authority Electric Power & Light Revenue (Oglethorpe Power Corp. Vogtle Project) PUT 3.600%   2/1/30     11,850     11,841
  Carroll City-County Hospital Authority Health, Hospital, Nursing Home Revenue (Tanner Medical Center Project) 5.000%   7/1/34      2,560      2,579
  Clarke County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        420        431
  Clayton County Development Authority Local or Guaranteed Housing Revenue (Clayton State University Project) 5.000%   7/1/26        210        215
  Clayton County Development Authority Local or Guaranteed Housing Revenue (Clayton State University Project) 5.000%   7/1/28        250        265
  Cobb County Kennestone Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/25        455        456
  Cobb County Kennestone Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/26        885        905
  Cobb County Kennestone Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/27        450        468
  Cobb County Kennestone Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/27        475        494
  Cobb County Kennestone Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   4/1/28      1,000      1,057
  Cobb County Kennestone Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   4/1/29      2,300      2,466
  Cobb County Kennestone Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   4/1/30      2,000      2,175
  Columbus Medical Center Hospital Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/26     29,865     30,424
  Columbus Medical Center Hospital Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/29     11,240     11,885
  Dalton Board of Water Light & Sinking Fund Commissioners Electric Power & Light Revenue 5.000%   3/1/25        250        250
  Dalton Board of Water Light & Sinking Fund Commissioners Electric Power & Light Revenue 5.000%   3/1/26        375        382
  Dalton Board of Water Light & Sinking Fund Commissioners Electric Power & Light Revenue 5.000%   3/1/27      1,050      1,087
  Dalton Board of Water Light & Sinking Fund Commissioners Electric Power & Light Revenue 5.000%   3/1/28      1,000      1,050
  Dalton Board of Water Light & Sinking Fund Commissioners Electric Power & Light Revenue 5.000%   3/1/29      1,000      1,063
  Dalton Board of Water Light & Sinking Fund Commissioners Multiple Utility Revenue 5.000%   3/1/25        550        551
  Dalton Board of Water Light & Sinking Fund Commissioners Multiple Utility Revenue 5.000%   3/1/30      2,305      2,372
  Dalton Whitfield County Joint Development Authority Health, Hospital, Nursing Home Revenue (Hamilton Health Care System Inc. Project) 5.000%  8/15/28      1,750      1,862
  Dalton Whitfield County Joint Development Authority Health, Hospital, Nursing Home Revenue (Hamilton Health Care System Inc. Project) 5.000%  8/15/29      1,850      1,995
  Dalton Whitfield County Joint Development Authority Health, Hospital, Nursing Home Revenue (Hamilton Health Care System Inc. Project) 5.000%  8/15/30      2,215      2,421
  Dalton Whitfield County Joint Development Authority Health, Hospital, Nursing Home Revenue (Hamilton Health Care System Inc. Project) 5.000%  8/15/31      2,500      2,763
  Decatur Housing Authority Local or Guaranteed Housing Revenue (Calvin Court Project) PUT 3.600%   8/1/27      1,525      1,532
  DeKalb County Housing Authority Local or Guaranteed Housing Revenue (1086 On Montreal Project) 4.000%   3/1/34      1,850      1,832
  DeKalb County Housing Authority Local or Guaranteed Housing Revenue (Park at 500 Project) 4.000%   3/1/34      1,030      1,024
  Fayette County Development Authority Recreational Revenue (United States Soccer Federation Inc. Project) 5.000%  10/1/27        270        281
  Fayette County Development Authority Recreational Revenue (United States Soccer Federation Inc. Project) 5.000%  10/1/29        380        404
  Fayette County Development Authority Recreational Revenue (United States Soccer Federation Inc. Project) 5.000%  10/1/31        575        622
  Fulton County Development Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,720      1,765
5 Fulton County Residential Care Facilities for the Elderly Authority Health, Hospital, Nursing Home Revenue (Canterbury Court Project) 4.000%   4/1/26        835        832
5 Fulton County Residential Care Facilities for the Elderly Authority Health, Hospital, Nursing Home Revenue (Canterbury Court Project) 4.000%   4/1/27        965        961
5 Fulton County Residential Care Facilities for the Elderly Authority Health, Hospital, Nursing Home Revenue (Canterbury Court Project) 4.000%   4/1/28      1,000        996
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/25        300        300
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/26        250        255
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/27        690        717
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/28        675        713
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/29        875        939
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue (Northeast Georgia Health System Inc. Project) 5.000%  2/15/26      1,460      1,486
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue (Northeast Georgia Health System Inc. Project) 5.000%  2/15/27      1,250      1,298
  Gainesville & Hall County Hospital Authority Health, Hospital, Nursing Home Revenue (Northeast Georgia Health System Inc. Project) 5.000% 10/15/30      9,905     10,880
  Georgia GO 5.000%   2/1/25      2,000      2,000
  Georgia GO 4.000%   2/1/26      4,570      4,574
  Georgia GO 4.000%   2/1/31      2,740      2,741
  Georgia GO 4.000%   2/1/31      4,000      4,029
  Georgia GO 4.000%   2/1/32      4,000      4,027
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Georgia Municipal Electric Authority Electric Power & Light Revenue 5.000%   1/1/26        680        692
  Georgia Municipal Electric Authority Electric Power & Light Revenue 5.000%   1/1/26      3,765      3,833
  Georgia Municipal Electric Authority Electric Power & Light Revenue 5.000%   1/1/29      1,000      1,049
  Georgia Municipal Electric Authority Electric Power & Light Revenue (Combined Cycle Project) 4.000%  11/1/25        400        403
  Georgia Municipal Electric Authority Electric Power & Light Revenue (Combined Cycle Project) 5.000%  11/1/26        805        832
  Georgia Municipal Electric Authority Electric Power & Light Revenue (Combined Cycle Project) 5.000%  11/1/27        800        842
  Georgia Municipal Electric Authority Electric Power & Light Revenue (Combined Cycle Project) 5.000%  11/1/28      1,160      1,240
  Georgia Municipal Electric Authority Nuclear Revenue 5.000%   1/1/26      1,710      1,740
  Georgia Municipal Electric Authority Nuclear Revenue 5.000%   1/1/27      1,150      1,193
  Georgia Municipal Electric Authority Nuclear Revenue 5.000%   1/1/28      1,275      1,345
  Georgia Municipal Electric Authority Nuclear Revenue (General Resolution Projects) 4.000%   1/1/26        425        429
  Georgia Municipal Electric Authority Nuclear Revenue (General Resolution Projects) 5.000%   1/1/26        630        641
  Georgia Municipal Electric Authority Nuclear Revenue (General Resolution Projects) 5.000%   1/1/27      1,760      1,826
  Georgia Municipal Electric Authority Nuclear Revenue (General Resolution Projects) 4.000%   1/1/28        430        437
  Georgia Municipal Electric Authority Nuclear Revenue (General Resolution Projects) 5.000%   1/1/28      2,870      3,028
  Georgia Municipal Electric Authority Nuclear Revenue (General Resolution Projects) 5.000%   1/1/28        315        332
3 Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   7/1/25        200        202
  Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   1/1/26        600        608
3 Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   7/1/26        150        154
  Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   1/1/27        660        677
  Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   1/1/27        550        571
3 Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   7/1/27        200        210
3 Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   7/1/28        190        203
3 Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   7/1/29        300        324
3 Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 5.000%   7/1/30        200        219
  Georgia Municipal Electric Authority Nuclear Revenue (Project No. 1) 4.000%   1/1/28        220        222
  Georgia Municipal Electric Authority Nuclear Revenue (Project No. 1) 5.000%   1/1/28      2,500      2,559
1 Georgia Municipal Electric Authority Nuclear Revenue (Project No. 1) 5.000%   1/1/28        300        308
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/26      1,350      1,374
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/27      1,000      1,037
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/28      1,400      1,477
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/28        875        923
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/29        660        706
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/29        725        776
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/30      1,365      1,481
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/30        500        543
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/31      1,690      1,856
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/31        745        818
3,5,6 Georgia Municipal Electric Authority Nuclear Revenue TOB VRDO 2.370%   2/6/25      8,960      8,960
  Glynn-Brunswick Memorial Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      2,580      2,590
  Glynn-Brunswick Memorial Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/27      1,000      1,004
  Glynn-Brunswick Memorial Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/28      2,000      2,009
  Glynn-Brunswick Memorial Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/34        150        150
  Gwinnett County School District GO 4.000%   2/1/33      5,000      5,005
  LaGrange-Troup County Hospital Authority Health, Hospital, Nursing Home Revenue RAN 5.000%   4/1/25        175        176
  Lawrenceville Housing Authority Local or Guaranteed Housing Revenue (Applewood Towers Project) PUT 5.000%  10/1/27        820        854
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/25        290        290
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  5/15/25      5,000      5,018
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/25      2,500      2,521
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/25        250        252
  Main Street Natural Gas Inc. Natural Gas Revenue 4.000%  12/1/25        490        492
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/26        345        351
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/26        350        356
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/26      2,270      2,320
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/26        280        287
  Main Street Natural Gas Inc. Natural Gas Revenue 4.000%  12/1/26        580        585
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/27        620        639
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/27        500        515
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/27        500        519
  Main Street Natural Gas Inc. Natural Gas Revenue 5.500%  9/15/27        465        487
  Main Street Natural Gas Inc. Natural Gas Revenue 4.000%  12/1/27      1,225      1,239
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/28      1,100      1,148
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/28        825        861
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   6/1/28      1,000      1,040
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/28      1,000      1,050
  Main Street Natural Gas Inc. Natural Gas Revenue 5.500%  9/15/28      1,500      1,588
  Main Street Natural Gas Inc. Natural Gas Revenue 4.000%  12/1/28      5,000      5,041
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/29      2,700      2,844
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/29      1,050      1,106
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/29        700        737
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/29      2,250      2,383
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/29        750        794
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/29      3,040      3,218
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  10/1/29        225        238
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  12/1/29        280        295
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  12/1/29      2,750      2,895
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/30      2,940      3,116
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/30        950      1,007
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   4/1/30        145        154
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  5/15/30      2,630      2,730
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/30      2,355      2,507
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/30      1,000      1,065
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  10/1/30        470        499
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  12/1/30      3,500      3,702
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   3/1/31        950      1,015
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   4/1/31        100        106
4 Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   6/1/31        500        531
  Main Street Natural Gas Inc. Natural Gas Revenue 5.000%   9/1/31        900        965
4 Main Street Natural Gas Inc. Natural Gas Revenue 5.000%  12/1/31      1,500      1,600
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 4.000%   9/1/26    102,260    102,519
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 4.000%   9/1/27     20,390     20,645
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 4.000%  12/1/28     91,860     92,025
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   6/1/29     38,085     39,494
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 4.000%  12/1/29     18,910     18,854
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   3/1/30     84,305     88,993
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   6/1/30     25,000     26,055
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   9/1/30    105,585    111,849
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%  12/1/30     52,690     54,996
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   4/1/31     64,115     68,049
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   6/1/31      6,590      6,981
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   9/1/31     29,150     30,893
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%  12/1/31     41,945     44,076
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   3/1/32     12,390     13,227
4 Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%   6/1/32     45,600     48,715
  Main Street Natural Gas Inc. Natural Gas Revenue PUT 5.000%  12/1/32     40,000     42,251
  Milledgeville & Baldwin County Development Authority Lease (Appropriation) Revenue (Georgia College & State University Projects) 5.000%  6/15/25        620        624
  Milledgeville & Baldwin County Development Authority Lease (Appropriation) Revenue (Georgia College & State University Projects) 5.000%  6/15/27        425        443
  Milledgeville & Baldwin County Development Authority Lease (Appropriation) Revenue (Georgia College & State University Projects) 5.000%  6/15/28        530        561
  Monroe County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Scherer Project) PUT 3.875%   3/6/26      3,270      3,297
  Monroe County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Scherer Project) PUT 3.875%   3/6/26      2,990      3,015
  Monroe County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Scherer Project) PUT 3.875%   3/6/26      1,270      1,281
  Monroe County Development Authority Electric Power & Light Revenue (Georgia Power Co. Plant Scherer Project) PUT 3.875%   3/6/26      1,270      1,281
4 Monroe County Development Authority Electric Power & Light Revenue (Oglethorpe Power Corp. Scherer Project) PUT 3.600%   2/1/30      8,445      8,438
  Private Colleges & Universities Authority College & University Revenue (Mercer University Project) 5.000%  10/1/26        625        644
  Private Colleges & Universities Authority College & University Revenue (Mercer University Project) 5.000%  10/1/27        530        554
  Private Colleges & Universities Authority College & University Revenue (Mercer University Project) 5.000%  10/1/28        465        492
  Private Colleges & Universities Authority College & University Revenue (Mercer University Project) 5.000%  10/1/31      1,050      1,060
  Private Colleges & Universities Authority College & University Revenue (Mercer University Project) 5.000%  10/1/32      1,000      1,009
  Private Colleges & Universities Authority College & University Revenue (Savannah College of Arts & Design Project) 5.000%   4/1/25        600        602
  Private Colleges & Universities Authority College & University Revenue (Savannah College of Arts & Design Project) 5.000%   4/1/26        600        613
  Private Colleges & Universities Authority College & University Revenue (Savannah College of Arts & Design Project) 5.000%   4/1/27        500        520
  Private Colleges & Universities Authority College & University Revenue (Savannah College of Arts & Design Project) 5.000%   4/1/28        920        969
  Savannah Economic Development Authority Industrial Revenue PUT 3.450%  10/1/31      1,200      1,187
5 Savannah Hospital Authority Health, Hospital, Nursing Home Revenue 5.500%   7/1/27      1,840      1,934
5 Savannah Hospital Authority Health, Hospital, Nursing Home Revenue 5.500%   7/1/28      3,250      3,472
5 Savannah Hospital Authority Health, Hospital, Nursing Home Revenue 5.500%   7/1/29      3,000      3,255
5 Savannah Hospital Authority Health, Hospital, Nursing Home Revenue 5.500%   7/1/30      4,855      5,326
5 Savannah Hospital Authority Health, Hospital, Nursing Home Revenue 5.500%   7/1/31      4,450      4,916
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Warner Robins Housing Authority Resident Council Corp. Local or Guaranteed Housing Revenue (Arbours at Wellston Project) PUT 5.000%   2/1/28        830        866
  White County Development Authority College & University Revenue (Truett Mcconnell University Project) 5.000%  10/1/29      1,530      1,501
                                   1,260,766
Guam (0.1%)
  Guam Department of Education COP 3.625%   2/1/25        320        320
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/25        925        931
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/25        500        503
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/26        965        987
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/30      1,100      1,185
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/31      1,000      1,086
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/31      1,335      1,450
  Guam Hotel Occupancy Tax Revenue 5.000%  11/1/27        350        362
  Guam Income Tax Revenue 5.000%  12/1/26      2,250      2,309
  Guam Income Tax Revenue 5.000%  12/1/27      5,230      5,368
  Guam Miscellaneous Taxes Revenue 5.000% 11/15/25        515        521
  Guam Miscellaneous Taxes Revenue 5.000% 11/15/26      1,500      1,518
  Guam Miscellaneous Taxes Revenue 5.000% 11/15/27        580        587
  Guam Miscellaneous Taxes Revenue 5.000%   1/1/28        300        312
  Guam Miscellaneous Taxes Revenue 5.000% 11/15/28        450        454
  Guam Miscellaneous Taxes Revenue 5.000%   1/1/29      2,525      2,645
  Guam Miscellaneous Taxes Revenue 5.000%   1/1/30      1,500      1,583
  Guam Miscellaneous Taxes Revenue 5.000% 11/15/31      2,070      2,088
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/25      1,480      1,495
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/25      1,565      1,581
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/25        500        505
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/26      2,160      2,219
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/26        500        513
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/27      3,860      4,021
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/27        450        469
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/28      3,250      3,425
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/28        500        527
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/29      4,515      4,804
                                      43,768
Hawaii (0.2%)
  Hawaii Department of Budget & Finance Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,855      2,021
  Hawaii Department of Budget & Finance Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      2,585      2,816
2 Hawaii Department of Budget & Finance Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.450% 2.700%   7/1/39      6,235      6,235
2 Hawaii Department of Budget & Finance Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.450% 2.700%   7/1/39      1,620      1,620
  Hawaii GO 4.000%   4/1/29      3,300      3,338
  Hawaii GO 5.000%  10/1/29      1,250      1,294
  Hawaii GO 4.000%  10/1/30      1,885      1,910
  Hawaii GO 4.000%   8/1/32      4,500      4,501
  Hawaii GO 4.000%   8/1/33      4,660      4,661
  Hawaii GO 4.000%   8/1/34     10,000     10,000
  Hawaii Housing Finance & Development Corp. Local or Guaranteed Housing Revenue PUT 3.300%  12/1/27     15,265     15,231
  Honolulu HI City & County GO 5.000%   9/1/25      1,815      1,839
  Honolulu HI City & County GO 5.000%   7/1/28      1,000      1,072
  Honolulu HI City & County GO 4.000%  10/1/31      5,050      5,119
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/27      1,845      1,931
  Honolulu HI City & County Local or Guaranteed Housing Revenue PUT 5.000%   6/1/26      4,350      4,444
4 Honolulu HI City & County Wastewater System Sewer Revenue 5.000%   7/1/32      2,150      2,410
                                      70,442
Idaho (0.3%)
  Boise City ID Airport Port, Airport & Marina Revenue (Public Parking Facilities Project) 4.000%   9/1/26        250        254
  Idaho Bond Bank Authority Miscellaneous Revenue 4.000%  9/15/27      1,050      1,050
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/26        120        123
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/26      1,085      1,094
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/27        225        234
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.500%  12/1/27        920        927
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/28        265        280
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/29        400        429
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 5.500%  12/1/29      1,880      1,894
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue 3.500%   9/1/33      1,000        884
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue (St. Luke's Health System Project) 5.000%   3/1/25      6,605      6,615
  Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue (St. Luke's Health System Project) 5.000%   3/1/27        900        938
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
4 Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue (St. Lukes's Health System Project) PUT 5.000%   3/1/32     13,820     15,153
4 Idaho Health Facilities Authority Health, Hospital, Nursing Home Revenue PUT 3.550%   5/1/25      3,255      3,255
8 Idaho Housing & Finance Association Local or Guaranteed Housing Revenue 4.000%   1/1/50        670        674
  Idaho Housing & Finance Association Local or Guaranteed Housing Revenue 6.000%   7/1/54      2,170      2,392
  Idaho State Building Authority Intergovernmental Agreement Revenue 5.000%   6/1/25     50,000     50,364
1 University of Idaho College & University Revenue 5.000%   4/1/26        555        568
1 University of Idaho College & University Revenue 5.000%   4/1/27        450        469
                                      87,597
Illinois (6.9%)
3 Adams County School District No. 172 GO 4.000%   2/1/32      1,000      1,006
  Aurora IL Waterworks & Sewerage Water Revenue 4.000%  12/1/31      1,185      1,186
3 Bolingbrook IL Special Tax Revenue 4.000%   3/1/25        555        555
  Champaign County Community Unit School District No. 4 Champaign GO 4.000%   6/1/25        665        667
  Champaign County Community Unit School District No. 4 Champaign GO 0.000%   1/1/26        400        387
  Champaign County Community Unit School District No. 4 Champaign GO 4.000%   6/1/26        710        719
  Champaign County Community Unit School District No. 4 Champaign GO 0.000%   1/1/27        380        354
  Chicago Board of Education Dedicated Capital Improvement Tax Miscellaneous Taxes Revenue 5.000%   4/1/33        650        660
9 Chicago Board of Education GO 0.000%  12/1/25      5,105      4,949
9 Chicago Board of Education GO 0.000%  12/1/25      6,220      6,030
  Chicago Board of Education GO 0.000%  12/1/25      2,375      2,300
  Chicago Board of Education GO 5.000%  12/1/25     14,605     14,677
3 Chicago Board of Education GO 5.000%  12/1/25      4,500      4,546
  Chicago Board of Education GO 5.000%  12/1/25      2,500      2,512
  Chicago Board of Education GO 5.000%  12/1/25      9,520      9,567
11 Chicago Board of Education GO 5.500%  12/1/25      3,420      3,458
  Chicago Board of Education GO 0.000%  12/1/26     17,205     16,006
9 Chicago Board of Education GO 0.000%  12/1/26      6,380      5,946
9,12 Chicago Board of Education GO 0.000%  12/1/26         95         89
  Chicago Board of Education GO 5.000%  12/1/26     17,465     17,699
  Chicago Board of Education GO 5.000%  12/1/26      2,125      2,154
  Chicago Board of Education GO 5.000%  12/1/26      5,810      5,888
  Chicago Board of Education GO 5.000%  12/1/26      1,450      1,469
10,12 Chicago Board of Education GO 5.500%  12/1/26      7,165      7,416
11 Chicago Board of Education GO 5.500%  12/1/26      1,250      1,272
  Chicago Board of Education GO 7.000%  12/1/26     10,000     10,214
  Chicago Board of Education GO 0.000%  12/1/27        500        446
9 Chicago Board of Education GO 0.000%  12/1/27      1,060        948
  Chicago Board of Education GO 4.000%  12/1/27     14,120     14,073
3 Chicago Board of Education GO 5.000%  12/1/27      1,200      1,246
  Chicago Board of Education GO 5.000%  12/1/27      2,635      2,696
3 Chicago Board of Education GO 5.000%  12/1/27      4,700      4,871
  Chicago Board of Education GO 5.000%  12/1/27      3,860      3,949
11 Chicago Board of Education GO 5.500%  12/1/27      3,070      3,151
9 Chicago Board of Education GO 0.000%  12/1/28     14,130     12,120
9,12 Chicago Board of Education GO 0.000%  12/1/28     13,800     11,837
  Chicago Board of Education GO 5.000%  12/1/28     16,325     16,760
  Chicago Board of Education GO 5.000%  12/1/28      6,285      6,452
9 Chicago Board of Education GO 0.000%  12/1/29        800        658
  Chicago Board of Education GO 5.000%  12/1/29     16,420     16,936
  Chicago Board of Education GO 5.000%  12/1/29      5,000      5,122
  Chicago Board of Education GO 5.000%  12/1/30     12,645     12,982
3 Chicago Board of Education GO 5.000%  12/1/30      5,340      5,567
  Chicago Board of Education GO 5.000%  12/1/30      1,820      1,886
  Chicago Board of Education GO 5.000%  12/1/30     12,640     12,834
3 Chicago Board of Education GO 5.000%  12/1/30      4,180      4,358
11 Chicago Board of Education GO 5.500%  12/1/30      2,500      2,618
5 Chicago Board of Education GO 6.750%  12/1/30      1,065      1,144
9 Chicago Board of Education GO 0.000%  12/1/31      4,800      3,615
9 Chicago Board of Education GO 0.000%  12/1/31      1,205        907
  Chicago Board of Education GO 5.000%  12/1/31      2,000      2,051
  Chicago Board of Education GO 5.000%  12/1/31      7,590      7,842
  Chicago Board of Education GO 5.000%  12/1/31      6,045      6,180
3 Chicago Board of Education GO 5.000%  12/1/31      4,640      4,825
  Chicago Board of Education GO 5.000%  12/1/31      5,000      5,071
  Chicago Board of Education GO 5.000%  12/1/32      3,600      3,677
3 Chicago Board of Education GO 5.000%  12/1/32      2,800      2,906
  Chicago Board of Education GO 5.000%  12/1/32      2,000      2,041
3 Chicago Board of Education GO 5.000%  12/1/32      2,000      2,076
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Chicago Board of Education GO 5.125%  12/1/32      1,255      1,255
  Chicago Board of Education GO 5.000%  12/1/33      6,410      6,527
3 Chicago Board of Education GO 5.000%  12/1/33      2,850      2,953
  Chicago Board of Education GO 5.000%  12/1/34      3,460      3,517
  Chicago Board of Education GO 5.000%  12/1/34     22,875     23,103
  Chicago Board of Education GO 5.000%  12/1/34      2,540      2,565
  Chicago Board of Education GO 4.000%  12/1/35     11,640     10,938
  Chicago IL GO 5.000%   1/1/27      1,345      1,359
  Chicago IL GO 5.000%   1/1/28      8,710      9,001
  Chicago IL GO 5.000%   1/1/28      2,450      2,532
  Chicago IL GO 4.000%   1/1/29      6,127      6,161
  Chicago IL GO 5.000%   1/1/29      5,710      5,950
  Chicago IL GO 5.000%   1/1/29      3,670      3,824
  Chicago IL GO 5.000%   1/1/29      2,500      2,521
  Chicago IL GO 5.000%   1/1/29        770        802
  Chicago IL GO 4.000%   1/1/30      6,336      6,372
  Chicago IL GO 5.000%   1/1/30      7,320      7,693
  Chicago IL GO 5.000%   1/1/30      5,285      5,554
  Chicago IL GO 0.000%   1/1/31      5,020      3,978
  Chicago IL GO 5.000%   1/1/31      1,500      1,564
  Chicago IL GO 5.000%   1/1/31        515        519
  Chicago IL GO 5.000%   1/1/31     14,710     15,557
  Chicago IL GO 4.000%   1/1/32      2,565      2,565
  Chicago IL GO 5.000%   1/1/32      7,320      7,780
  Chicago IL GO 5.000%   1/1/33      3,340      3,564
  Chicago IL GO 5.000%   1/1/34      1,000      1,049
  Chicago IL GO, ETM 0.000%   1/1/26        300        291
9 Chicago IL GO, ETM 0.000%   1/1/26        235        228
  Chicago IL GO, ETM 5.000%   1/1/26      6,020      6,137
  Chicago IL GO, ETM 5.000%   1/1/26     10,920     11,039
  Chicago IL GO, ETM 0.000%   1/1/27      1,000        939
9 Chicago IL GO, ETM 0.000%   1/1/27      1,000        942
9 Chicago IL GO, ETM 0.000%   1/1/27      2,050      1,924
  Chicago IL GO, ETM 5.000%   1/1/27     14,450     14,772
9 Chicago IL GO, ETM 0.000%   1/1/28        100         91
  Chicago IL Local or Guaranteed Housing Revenue (United Yards 1A Project) PUT 3.500%   8/1/26      1,100      1,103
  Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/26      1,020      1,038
  Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/26        500        509
9 Chicago IL Wastewater Transmission Sewer Revenue 0.000%   1/1/27        955        898
  Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/27      2,500      2,591
  Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/28        700        739
  Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/29      2,170      2,243
3 Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/29      2,650      2,846
1 Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/29        675        725
3 Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/30      3,770      4,106
1 Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/30      1,000      1,089
9 Chicago IL Wastewater Transmission Sewer Revenue 5.500%   1/1/30        460        483
  Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/31      3,555      3,666
  Chicago IL Waterworks Water Revenue 5.000%  11/1/25      2,050      2,079
  Chicago IL Waterworks Water Revenue 5.000%  11/1/25     12,505     12,680
  Chicago IL Waterworks Water Revenue 5.000%  11/1/26     14,865     15,347
  Chicago IL Waterworks Water Revenue 5.000%  11/1/27      5,000      5,261
  Chicago IL Waterworks Water Revenue 5.000%  11/1/27      1,000      1,032
  Chicago IL Waterworks Water Revenue 5.000%  11/1/28      3,000      3,094
3 Chicago IL Waterworks Water Revenue 5.000%  11/1/28      1,000      1,053
  Chicago IL Waterworks Water Revenue 5.000%  11/1/28      2,705      2,889
  Chicago IL Waterworks Water Revenue 5.000%  11/1/29      4,560      4,783
  Chicago IL Waterworks Water Revenue 5.000%  11/1/29      1,000      1,031
  Chicago IL Waterworks Water Revenue 5.000%  11/1/29      3,000      3,251
  Chicago IL Waterworks Water Revenue 5.000%  11/1/30      2,000      2,057
1 Chicago IL Waterworks Water Revenue 5.000%  11/1/30      1,000      1,029
3 Chicago IL Waterworks Water Revenue 5.000%  11/1/30        750        826
  Chicago IL Waterworks Water Revenue 5.000%  11/1/30      1,960      2,153
3 Chicago IL Waterworks Water Revenue 5.250%  11/1/30      3,555      3,745
11 Chicago IL Waterworks Water Revenue 5.750%  11/1/30     12,900     13,834
  Chicago IL Waterworks Water Revenue 5.000%  11/1/31      1,000      1,028
  Chicago IL Waterworks Water Revenue 5.000%  11/1/31      1,735      1,925
3 Chicago IL Waterworks Water Revenue 5.250%  11/1/32      1,055      1,107
3 Chicago IL Waterworks Water Revenue (2nd Lien Project) 5.000%  11/1/30      1,800      1,884
3,5 Chicago IL Waterworks Water Revenue TOB VRDO 2.370%   2/6/25      6,355      6,355
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 Chicago Midway International Airport Port, Airport & Marina Revenue 5.000%   1/1/27      2,750      2,863
1 Chicago Midway International Airport Port, Airport & Marina Revenue 5.000%   1/1/28      5,000      5,289
1 Chicago Midway International Airport Port, Airport & Marina Revenue 5.000%   1/1/29      3,000      3,225
1 Chicago Midway International Airport Port, Airport & Marina Revenue 5.000%   1/1/30      1,000      1,090
1 Chicago Midway International Airport Port, Airport & Marina Revenue 5.000%   1/1/31      2,000      2,206
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/26      1,160      1,182
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/27        110        112
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/27        210        214
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/27      2,745      2,850
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/28        125        127
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/28      4,000      4,226
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/29        165        168
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/29      6,000      6,440
1 Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/29        315        338
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/30      1,645      1,700
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/30      1,380      1,501
1 Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/30        450        491
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/30     10,500     11,419
1 Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/31      1,135      1,255
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/31      9,485     10,452
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/32     10,375     11,555
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.250%   1/1/33      3,750      3,878
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/34     14,780     14,973
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/34      7,735      7,836
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.250%   1/1/34      3,750      3,874
  Chicago Park District GO 5.000% 11/15/25      1,430      1,449
  Chicago Park District GO 5.000%   1/1/26      1,000      1,016
1 Chicago Park District GO 5.000%   1/1/26        550        559
  Chicago Park District GO 5.000% 11/15/26      1,500      1,546
  Chicago Park District GO 5.000%   1/1/27        925        939
1 Chicago Park District GO 5.000%   1/1/27        650        672
  Chicago Park District GO 5.000%   1/1/27      1,000      1,036
1 Chicago Park District GO 5.000%   1/1/28      1,000      1,055
  Chicago Park District GO 5.000%   1/1/28      1,110      1,169
  Chicago Park District GO 5.000%   1/1/29        750        802
  Chicago Park District GO 5.000%   1/1/29      1,875      2,004
  Chicago Park District GO 5.000%   1/1/30      1,700      1,841
  Chicago Park District GO 5.000%   1/1/30      1,320      1,430
1 Chicago Park District GO 4.000%   1/1/31      1,955      1,994
  Chicago Park District GO 5.000%   1/1/31        700        768
1 Chicago Park District GO 4.000% 11/15/32      1,000      1,015
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/25      6,115      6,153
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/25      4,415      4,442
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/25      1,625      1,635
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/26      3,850      3,946
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/26      2,500      2,562
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/27      9,015      9,409
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/27      2,750      2,870
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/28      5,250      5,568
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/28      7,250      7,689
  Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue 5.000%   6/1/29      5,845      6,290
1 Cook County Community College District No. 508 GO 5.000%  12/1/28      1,600      1,690
1 Cook County Community College District No. 508 GO 5.000%  12/1/29      1,000      1,068
1 Cook County Community College District No. 508 GO 5.000%  12/1/30      1,250      1,350
1 Cook County Community College District No. 508 GO 5.000%  12/1/31      1,555      1,691
3 Cook County IL GO 5.000% 11/15/26      3,710      3,843
  Cook County IL GO 5.000% 11/15/27      1,205      1,248
  Cook County IL GO 5.000% 11/15/28      2,705      2,801
  Cook County IL GO 5.000% 11/15/28        350        374
  Cook County IL GO 5.000% 11/15/29      3,600      3,908
  Cook County IL GO 5.000% 11/15/29      5,000      5,176
  Cook County IL GO 5.000% 11/15/30      2,200      2,276
  Cook County IL GO 5.000% 11/15/31      2,510      2,595
  Cook County IL Sales Tax Revenue 5.000% 11/15/26        650        674
  Cook County IL Sales Tax Revenue 5.000% 11/15/27        350        368
  Cook County IL Sales Tax Revenue 5.000% 11/15/28        290        310
  Cook County IL Sales Tax Revenue 5.000% 11/15/29        140        152
  Cook County IL Sales Tax Revenue 5.000% 11/15/29        275        298
  Cook County IL Sales Tax Revenue 5.000% 11/15/29      1,250      1,355
  Cook County IL Sales Tax Revenue 5.000% 11/15/30        300        330
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Cook County IL Sales Tax Revenue 5.000% 11/15/30      2,000      2,198
  Cook County IL Sales Tax Revenue 4.000% 11/15/34      1,000      1,010
  Cook County School District No. 105 GO 5.000%  1/15/27      1,065      1,106
  Cook County School District No. 122 Ridgeland GO 3.000%  12/1/26      2,300      2,290
  Cook County School District No. 122 Ridgeland GO 3.000%  12/1/27      2,370      2,349
  Cook County School District No. 122 Ridgeland GO 3.000%  12/1/28      1,735      1,708
  Cook County School District No. 151 South Holland GO 4.000%   4/1/25        675        676
  Cook Kane Lake & McHenry Counties Community College District No. 512 GO 4.000% 12/15/29      4,000      4,112
1 Crestwood IL GO 5.000% 12/15/28      1,820      1,914
1 Crestwood IL GO 5.000% 12/15/29      1,910      2,031
1 Crestwood IL GO 5.000% 12/15/31      1,345      1,452
  DuPage & Cook Counties Community Consolidated School District No. 181 Hinsdale GO 4.000%  1/15/28        485        494
  DuPage & Cook Counties Community Unit School District No. 205 Elmhurst GO 4.000%   1/1/28        600        616
  DuPage County Forest Preserve District GO 5.000%  11/1/28        660        708
  DuPage County Forest Preserve District GO 5.000%  11/1/29        575        626
  DuPage County Forest Preserve District GO 5.000%  11/1/30        500        552
  DuPage County Forest Preserve District GO 5.000%  11/1/31        850        950
  DuPage County Forest Preserve District GO 5.000%  11/1/32        645        728
4 Elmhurst Park District Go 5.000% 12/15/27        140        148
4 Elmhurst Park District Go 5.000% 12/15/28        150        161
4 Elmhurst Park District Go 5.000% 12/15/31        500        559
4 Elmhurst Park District GO 5.000% 12/15/29        150        164
4 Elmhurst Park District GO 5.000% 12/15/30        250        276
4 Elmhurst Park District GO 5.000% 12/15/32        400        451
3 Franklin Park IL GO 4.000%   7/1/30      1,015      1,013
4 Grundy Kendall & Will Counties Community High School District No. 111 Minooka GO 5.000%  12/1/27        250        264
4 Grundy Kendall & Will Counties Community High School District No. 111 Minooka GO 5.000%  12/1/28        275        295
4 Grundy Kendall & Will Counties Community High School District No. 111 Minooka GO 5.000%  12/1/29        350        381
4 Grundy Kendall & Will Counties Community High School District No. 111 Minooka GO 5.000%  12/1/30        500        551
4 Grundy Kendall & Will Counties Community High School District No. 111 Minooka GO 5.000%  12/1/31      2,465      2,746
4 Grundy Kendall & Will Counties Community High School District No. 111 Minooka GO 5.000%  12/1/32      1,000      1,125
4 Grundy Kendall & Will Counties Community High School District No. 111 Minooka GO 5.000%  12/1/33        925      1,038
  Illinois Development Finance Authority Health, Hospital, Nursing Home Revenue PUT 2.450%   3/3/26      2,000      1,981
5 Illinois Finance Authority Charter School Aid Revenue 4.000%  10/1/30        630        623
  Illinois Finance Authority Charter School Aid Revenue 4.000%  11/1/31        265        267
  Illinois Finance Authority College & University Revenue 5.000%   9/1/25        905        906
  Illinois Finance Authority College & University Revenue 5.000%   9/1/25      1,295      1,306
  Illinois Finance Authority College & University Revenue 5.000%  10/1/25        275        276
  Illinois Finance Authority College & University Revenue 5.000%   4/1/26        345        351
  Illinois Finance Authority College & University Revenue 5.000%   9/1/26        530        533
  Illinois Finance Authority College & University Revenue 5.000%   9/1/26        680        695
  Illinois Finance Authority College & University Revenue 5.000%   4/1/27      1,450      1,514
  Illinois Finance Authority College & University Revenue 5.000%   9/1/27        730        736
  Illinois Finance Authority College & University Revenue 5.000%  10/1/27        315        308
  Illinois Finance Authority College & University Revenue 5.000%   4/1/28      1,805      1,918
  Illinois Finance Authority College & University Revenue 5.000%   4/1/28        400        420
  Illinois Finance Authority College & University Revenue 5.000%   9/1/28        750        767
  Illinois Finance Authority College & University Revenue 5.000%  10/1/28        550        532
  Illinois Finance Authority College & University Revenue 5.000%   4/1/29      2,015      2,176
  Illinois Finance Authority College & University Revenue 5.000%   4/1/30      6,000      6,576
  Illinois Finance Authority College & University Revenue 5.000%   4/1/30        800        854
  Illinois Finance Authority College & University Revenue 4.125%  12/1/30      1,505      1,431
  Illinois Finance Authority College & University Revenue 5.000%   4/1/31      1,175      1,265
  Illinois Finance Authority College & University Revenue 5.000%   4/1/31     11,935     13,262
  Illinois Finance Authority College & University Revenue (Bradley University Project) 5.000%   8/1/25        325        327
  Illinois Finance Authority College & University Revenue (Bradley University Project) 5.000%   8/1/25      1,605      1,617
  Illinois Finance Authority College & University Revenue (Bradley University Project) 5.000%   8/1/27        425        439
  Illinois Finance Authority College & University Revenue (Bradley University Project) 5.000%   8/1/29        940        989
  Illinois Finance Authority College & University Revenue (Bradley University Project) 5.000%   8/1/30        200        212
  Illinois Finance Authority College & University Revenue (Bradley University Project) 5.000%   8/1/31        205        218
  Illinois Finance Authority College & University Revenue (Bradley University Project) 5.000%   8/1/32        215        229
  Illinois Finance Authority College & University Revenue (Chicago LLC - University of Chicago at Illinois Project) 5.000%  2/15/25        875        875
  Illinois Finance Authority College & University Revenue (Chicago LLC - University of Chicago at Illinois Project) 5.000%  2/15/28        400        409
  Illinois Finance Authority College & University Revenue (Chicago LLC - University of Chicago at Illinois Project) 5.000%  2/15/29        920        940
  Illinois Finance Authority College & University Revenue (Chicago LLC - University of Chicago at Illinois Project) 5.000%  2/15/30        335        342
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Illinois Finance Authority College & University Revenue (Chicago LLC - University of Chicago at Illinois Project) 5.000%  2/15/31        370        377
  Illinois Finance Authority College & University Revenue (Chicago LLC - University of Chicago at Illinois Project) 5.000%  2/15/32        225        229
  Illinois Finance Authority College & University Revenue (University of Illinois at Urbana - Champaign Project) 5.000%  10/1/25        100        101
  Illinois Finance Authority College & University Revenue (University of Illinois at Urbana - Champaign Project) 5.000%  10/1/26        225        232
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/25        595        596
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/25      3,350      3,359
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/25      7,670      7,707
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/25      4,500      4,541
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/25        125        126
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25      1,000      1,008
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      1,840      1,869
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/26      4,500      4,600
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/26      2,400      2,444
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/26      1,000      1,014
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/26      4,315      4,388
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,655      1,691
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26      2,205      2,272
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26      1,785      1,839
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26      2,600      2,679
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/26        250        255
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/26      1,000      1,018
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      3,250      3,264
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      1,020      1,050
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/27      3,000      3,121
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/27      1,890      1,949
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/27      1,005      1,028
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,735      1,799
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/27      2,310      2,420
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/27        950        984
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      1,540      1,541
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/28      1,505      1,531
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,815      1,904
5 Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/29      7,000      7,053
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/30        940        965
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/30      2,755      2,805
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/30      2,000      2,008
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/31      1,420      1,469
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/31      4,365      4,428
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/32      1,260      1,337
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/32      1,010      1,001
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      5,910      6,094
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/33      2,500      2,577
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/33        415        424
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/33      3,000      3,011
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/33      1,030      1,049
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/35      1,125      1,132
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue (Advocate Health Care Project) 4.000%  11/1/30      6,650      6,725
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue (Advocate Health Care Project) 4.000%  11/1/30        615        622
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  8/15/25     12,185     12,249
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/26     14,040     14,300
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  8/15/27     11,645     12,107
6 Illinois Finance Authority Health, Hospital, Nursing Home Revenue VRDO 1.550%   2/3/25     37,600     37,600
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue VRDO 2.400%   2/5/25     12,245     12,245
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%  5/15/25      2,500      2,514
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.250%  5/15/25      3,150      3,170
  Illinois Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.250%  5/15/25      1,100      1,107
2 Illinois Finance Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.300% 2.550%   4/1/51      5,705      5,705
2 Illinois Finance Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.700% 2.950%   5/1/42      1,405      1,391
5 Illinois Finance Authority Industrial Revenue 5.000%  10/1/34        625        637
  Illinois Finance Authority Lease Revenue 5.000%   1/1/31      1,125      1,145
2 Illinois Finance Authority Recreational Revenue, 70% of SOFR + 1.200% 4.245%  11/1/34     10,190     10,179
  Illinois Finance Authority Water Revenue PUT 3.875%   9/1/28      1,085      1,077
  Illinois GO 4.000%   3/1/25        750        750
  Illinois GO 5.000%   3/1/25      6,500      6,509
  Illinois GO 5.000%   5/1/25      2,500      2,511
  Illinois GO 5.000%   5/1/25      3,200      3,214
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Illinois GO 5.500%   5/1/25      3,000      3,017
  Illinois GO 6.000%   5/1/25        150        151
  Illinois GO 5.000%   7/1/25      7,750      7,811
  Illinois GO 5.000%  11/1/25     39,075     39,617
1 Illinois GO 5.000%  11/1/25     10,000     10,144
  Illinois GO 5.000%  12/1/25        500        508
  Illinois GO 5.000%  12/1/25        660        670
  Illinois GO 5.000%   1/1/26      3,680      3,742
  Illinois GO 5.000%   2/1/26      8,900      9,064
  Illinois GO 5.000%   3/1/26      3,250      3,314
  Illinois GO 5.000%   3/1/26     10,000     10,198
  Illinois GO 5.000%   5/1/26      5,000      5,113
  Illinois GO 5.500%   5/1/26      8,675      8,930
  Illinois GO 5.000%   7/1/26      5,795      5,943
  Illinois GO 5.000%  11/1/26     25,940     26,747
  Illinois GO 5.000%  11/1/26      3,500      3,608
  Illinois GO 5.000%   1/1/27      1,750      1,778
  Illinois GO 5.000%   3/1/27      7,935      8,223
  Illinois GO 5.000%   5/1/27      7,000      7,272
  Illinois GO 5.000%   6/1/27      1,400      1,432
  Illinois GO 5.000%  10/1/27      1,500      1,568
  Illinois GO 5.000%  11/1/27     19,070     19,952
  Illinois GO 5.000%   1/1/28        625        635
  Illinois GO 5.500%   1/1/28        240        255
  Illinois GO 5.000%   2/1/28      1,075      1,111
  Illinois GO 4.000%   3/1/28      3,000      3,066
  Illinois GO 5.000%   3/1/28        805        846
  Illinois GO 5.000%   5/1/28      5,000      5,267
  Illinois GO 5.000%   5/1/28      5,000      5,267
  Illinois GO 5.000%   6/1/28      1,040      1,063
  Illinois GO 5.000%  10/1/28      3,000      3,178
  Illinois GO 5.000%  11/1/28     23,700     24,772
  Illinois GO 5.000%  11/1/28      2,895      3,070
  Illinois GO 5.000%  12/1/28      2,500      2,615
  Illinois GO 5.000%   2/1/29      4,590      4,741
  Illinois GO 5.000%   2/1/29      3,100      3,298
  Illinois GO 5.000%   5/1/29      2,525      2,695
  Illinois GO 3.500%   6/1/29      2,410      2,392
  Illinois GO 5.000%   7/1/29     25,000     26,740
  Illinois GO 5.000%  11/1/29     28,550     29,853
  Illinois GO 5.000%   1/1/30      1,000      1,015
  Illinois GO 5.000%   2/1/30     12,220     13,169
  Illinois GO 5.000%   5/1/30      2,580      2,789
  Illinois GO 5.500%   5/1/30      2,365      2,527
3 Illinois GO 4.000%   2/1/31      1,500      1,517
  Illinois GO 5.000%   2/1/31      8,815      9,613
  Illinois GO 5.000%  10/1/31      3,320      3,507
  Illinois GO 5.000%  10/1/31      2,400      2,535
  Illinois GO 5.000%  10/1/31      4,000      4,391
  Illinois GO 4.125%  11/1/31      2,240      2,252
  Illinois GO 5.000%  12/1/31      1,000      1,044
  Illinois GO 5.000%  11/1/32      4,255      4,362
  Illinois GO 5.000%  12/1/34      6,485      6,734
8 Illinois Housing Development Authority Local or Guaranteed Housing Revenue 0.800%   7/1/26        605        577
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 4.000%  10/1/48      3,940      3,950
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 4.000%  10/1/49      2,470      2,479
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 4.250%  10/1/49      1,395      1,405
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 3.750%   4/1/50      1,085      1,085
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 3.500%   4/1/52     19,250     19,041
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 4.500%  10/1/52     15,235     15,534
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 5.250%  10/1/52      9,535      9,949
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue 5.250%   4/1/53      7,135      7,563
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue (Harvey II & III Project) PUT 5.000%   3/1/26      4,300      4,381
8 Illinois Housing Development Authority Local or Guaranteed Housing Revenue PUT 4.000%   6/1/25      3,020      3,026
8 Illinois Housing Development Authority Local or Guaranteed Housing Revenue PUT 5.000%   2/1/26      2,045      2,080
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue PUT 5.000%   2/1/26      1,270      1,292
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue PUT 5.000%   2/1/26     11,318     11,516
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue PUT 3.450%  12/1/27      5,275      5,293
  Illinois Housing Development Authority Local or Guaranteed Housing Revenue PUT 3.380%   1/1/28      7,475      7,453
8 Illinois Housing Development Authority Local or Guaranteed Housing Revenue PUT 3.600%   8/1/28      3,000      3,013
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
2,6 Illinois Housing Development Authority Local or Guaranteed Housing Revenue, SIFMA Municipal Swap Index Yield + 1.000% 3.250%  5/15/50      3,775      3,778
  Illinois Municipal Electric Agency Electric Power & Light Revenue 5.000%   2/1/25     11,110     11,110
  Illinois Municipal Electric Agency Electric Power & Light Revenue 5.000%   2/1/26     15,370     15,514
  Illinois Municipal Electric Agency Electric Power & Light Revenue 5.000%   2/1/32      3,180      3,201
  Illinois Sales Tax Revenue 5.000%  6/15/25      4,925      4,931
  Illinois Sales Tax Revenue 5.000%  6/15/25      8,825      8,867
  Illinois Sales Tax Revenue 5.000%  6/15/25      5,000      5,024
1 Illinois Sales Tax Revenue 5.000%  6/15/25      9,370      9,385
9 Illinois Sales Tax Revenue 6.000%  6/15/25        375        378
  Illinois Sales Tax Revenue 5.000%  6/15/26      4,775      4,781
  Illinois Sales Tax Revenue 5.000%  6/15/26      1,250      1,278
9 Illinois Sales Tax Revenue 6.000%  6/15/26        125        129
  Illinois Sales Tax Revenue 4.000%  6/15/27      1,065      1,067
9 Illinois Sales Tax Revenue 6.000%  6/15/27      3,040      3,212
  Illinois Sales Tax Revenue 4.000%  6/15/28      7,355      7,365
  Illinois Sales Tax Revenue 4.000%  6/15/29      4,390      4,398
1 Illinois Sales Tax Revenue 4.000%  6/15/30        890        892
1 Illinois Sales Tax Revenue 4.000%  6/15/30      1,000      1,038
  Illinois Sales Tax Revenue 3.000%  6/15/31     10,385      9,731
1 Illinois Sales Tax Revenue 5.000%  6/15/32      1,325      1,379
  Illinois Sales Tax Revenue 3.000%  6/15/34        300        268
  Illinois Sports Facilities Authority Appropriations Revenue 5.000%  6/15/28      2,000      2,057
1 Illinois Sports Facilities Authority Appropriations Revenue 5.000%  6/15/28      5,250      5,518
1 Illinois Sports Facilities Authority Appropriations Revenue 5.000%  6/15/28      2,100      2,207
  Illinois Sports Facilities Authority Appropriations Revenue 5.000%  6/15/29      2,500      2,595
1 Illinois Sports Facilities Authority Appropriations Revenue 5.000%  6/15/29      6,820      7,255
  Illinois Sports Facilities Authority Appropriations Revenue 5.000%  6/15/30      3,000      3,135
1 Illinois Sports Facilities Authority Appropriations Revenue 5.000%  6/15/30      4,100      4,372
3 Illinois Sports Facilities Authority Hotel Occupancy Tax Revenue 5.000%  6/15/27      9,400      9,447
3 Illinois Sports Facilities Authority Hotel Occupancy Tax Revenue 5.250%  6/15/31      1,820      1,830
3 Illinois Sports Facilities Authority Hotel Occupancy Tax Revenue 5.250%  6/15/32     10,150     10,206
11 Illinois Sports Facilities Authority Miscellaneous Taxes Revenue 0.000%  6/15/25      2,905      2,867
11 Illinois Sports Facilities Authority Miscellaneous Taxes Revenue 0.000%  6/15/26      4,815      4,582
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/26     14,930     15,225
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/27        110        111
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/30      1,000      1,016
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/31      1,350      1,371
  Illinois State Toll Highway Authority Highway Revenue 4.000%  12/1/31        205        207
  Illinois State Toll Highway Authority Highway Revenue 5.000%  12/1/32      7,505      7,622
10 Illinois State University (Capital Improvement Projects) COP 5.000%   4/1/30      2,615      2,840
10 Illinois State University (Capital Improvement Projects) COP 5.000%   4/1/31      2,540      2,788
10 Illinois State University (Capital Improvement Projects) COP 5.000%   4/1/32      2,600      2,870
3 Illinois State University College & University Revenue 5.000%   4/1/28        750        793
3 Illinois State University College & University Revenue 5.000%   4/1/28        785        830
  Kane & DeKalb Counties Community Unit School District No. 301 Burlington GO 0.000%  12/1/25      1,000        972
10 Kane & DeKalb Counties Community Unit School District No. 302 Kaneland GO 0.000%   2/1/28      1,000        898
3 Kane County School District No. 131 Aurora East Side GO 5.000%  12/1/25        170        173
3 Kane County School District No. 131 Aurora East Side GO 5.000%  12/1/25        350        356
3 Kane County School District No. 131 Aurora East Side GO 5.000%  12/1/26        220        228
3 Kane County School District No. 131 Aurora East Side GO 5.000%  12/1/26        410        424
3 Kane County School District No. 131 Aurora East Side GO 4.000%  12/1/27        215        220
  Kane McHenry Cook & De Kalb Counties IL Unit School District No. 300 GO 5.000%   1/1/29     10,000     10,449
  Kane McHenry Cook & De Kalb Counties IL Unit School District No. 300 GO 5.000%   1/1/30      2,000      2,089
3 Kendall Kane & Will Counties Community Unit School District No. 308 GO 5.000%   2/1/25      2,500      2,500
3 Kendall Kane & Will Counties Community Unit School District No. 308 GO 5.000%   2/1/26      3,605      3,680
3 Kendall Kane & Will Counties Community Unit School District No. 308 GO 5.000%   2/1/27      2,000      2,076
1 Kendall Kane & Will Counties Community Unit School District No. 308 GO 5.000%   2/1/27      1,500      1,557
3 Kendall Kane & Will Counties Community Unit School District No. 308 GO 0.000%   2/1/28      5,090      4,572
3 Kendall Kane & Will Counties Community Unit School District No. 308 GO 5.000%   2/1/29      1,500      1,598
  Kendall Kane & Will Counties Community Unit School District No. 308 GO 5.000%   2/1/33      1,500      1,519
13 Lincoln Land Community College District No. 526 GO, 6.000% coupon rate effective 3/20/25 4.500% 12/15/34     17,600     17,598
1 Madison County Community Unit School District No. 8 Bethalto GO 4.000%  12/1/30      1,000      1,018
9 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000% 12/15/26     11,540     10,878
9 Metropolitan Pier & Exposition Authority Appropriations Revenue 5.500%  6/15/29      1,680      1,750
10,12 Metropolitan Pier & Exposition Authority Appropriations Revenue 5.500%  6/15/29      1,265      1,305
9 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000% 12/15/29      2,000      1,696
3,14 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000%  6/15/30     10,000      8,374
9 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000% 12/15/30     10,000      8,184
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 3.000%  6/15/25      2,000      1,997
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000% 12/15/25      1,000      1,015
3 Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 0.000%  6/15/26      4,305      4,126
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000% 12/15/26      2,075      2,143
9 Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 0.000%  6/15/27         60         56
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 4.000% 12/15/27      3,000      3,061
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000% 12/15/27      2,300      2,335
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000% 12/15/27      5,000      5,238
9 Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 0.000%  6/15/28     10,450      9,335
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000% 12/15/28      2,355      2,461
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000% 12/15/28      3,750      3,919
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000%  6/15/29      7,500      7,836
3,12 Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project), ETM 5.500%  6/15/29      1,645      1,701
5,6 Metropolitan Pier & Exposition Authority Appropriations Revenue TOB VRDO 2.370%   2/6/25      6,750      6,750
3,5 Metropolitan Pier & Exposition Authority Appropriations Revenue TOB VRDO 2.410%   2/6/25      8,341      8,341
  Metropolitan Pier & Exposition Authority Economic Development Revenue 5.000%  6/15/26        975        979
  Metropolitan Pier & Exposition Authority Economic Development Revenue 5.000%  6/15/28      1,245      1,266
  Metropolitan Pier & Exposition Authority Economic Development Revenue 5.250%  6/15/30      1,555      1,595
  Metropolitan Pier & Exposition Authority Economic Development Revenue 5.250%  6/15/31      1,730      1,771
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/27      1,875      1,940
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/30      1,325      1,368
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/31      7,110      7,335
3 Mundelein IL GO 4.000% 12/15/25        500        504
3 Mundelein IL GO 4.000% 12/15/26        500        508
  Northern Illinois Municipal Power Agency Electric Power & Light Revenue 5.000%  12/1/26        105        109
  Northern Illinois Municipal Power Agency Electric Power & Light Revenue 4.000%  12/1/32      1,310      1,317
1 Northern Illinois University COP 5.000%   4/1/29        660        696
1 Northern Illinois University COP 5.000%   4/1/32        970      1,047
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%   4/1/25        500        501
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%   4/1/26      1,450      1,476
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%   4/1/27      2,200      2,271
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%  10/1/27        325        338
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%  10/1/28        325        341
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%  10/1/29        325        344
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%  10/1/30        690        736
1 Northern Illinois University Local or Guaranteed Housing Revenue 5.000%   4/1/31      1,040      1,105
1 Peoria IL GO 4.000%   1/1/26        250        252
  Plano IL Special Service Area No. 3 & No. 4 Special Tax Revenue (Lakewood Springs Project) 4.000%   3/1/35      3,810      3,607
  Railsplitter Tobacco Settlement Authority Tobacco Settlement Funded Revenue, ETM 5.000%   6/1/25     41,625     41,915
  Railsplitter Tobacco Settlement Authority Tobacco Settlement Funded Revenue, ETM 5.000%   6/1/26      4,220      4,338
  Regional Transportation Authority Sales Tax Revenue 5.000%   7/1/28        730        764
  Romeoville IL College & University Revenue (Lewis University Project) 5.000%  10/1/26        105        105
  Romeoville IL College & University Revenue (Lewis University Project) 5.000%  10/1/35      4,930      4,803
  Romeoville IL GO 5.000% 12/30/25      3,315      3,371
  Sales Tax Securitization Corp. Intergovernmental Agreement Revenue 5.000%   1/1/29     10,000     10,666
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/26      7,855      7,996
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/27      7,500      7,755
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/28      2,000      2,104
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/28      1,720      1,815
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/28      1,735      1,831
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/29      1,000      1,067
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/29      3,075      3,296
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/30        520        562
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/30      2,000      2,176
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/31      1,140      1,251
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/32      1,000      1,105
5 Sales Tax Securitization Corp. Sales Tax Revenue TOB VRDO 2.370%   2/6/25     11,570     11,570
5 Sales Tax Securitization Corp. Sales Tax Revenue TOB VRDO 2.370%   2/6/25      3,990      3,990
3 Sangamon County School District No. 186 Springfield GO 4.000%   2/1/28      1,615      1,643
3 Sangamon County School District No. 186 Springfield GO 4.000%   2/1/29      2,065      2,110
  Schaumburg IL GO 4.000%  12/1/26      6,485      6,621
  Schaumburg IL GO 4.000%  12/1/28      1,000      1,037
  Schaumburg IL GO 4.000%  12/1/29      8,155      8,503
9 Southern Illinois University College & University Revenue 0.000%   4/1/25        310        308
1 Southern Illinois University College & University Revenue 5.000%   4/1/25        200        201
1 Southern Illinois University College & University Revenue 5.000%   4/1/26        175        178
1 Southern Illinois University College & University Revenue 5.000%   4/1/27        210        217
1 Southern Illinois University College & University Revenue 4.000%   4/1/28        750        763
1 Southern Illinois University College & University Revenue 5.000%   4/1/28        275        289
1 Southern Illinois University College & University Revenue 4.000%   4/1/29        400        409
1 Southern Illinois University College & University Revenue 5.000%   4/1/29        365        388
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 Southern Illinois University College & University Revenue 5.000%   4/1/30        425        458
  Southwestern Illinois Development Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/25      1,965      1,966
  Southwestern Illinois Development Authority Intergovernmental Agreement Revenue 5.000%  4/15/27        730        761
  Springfield IL Electric Power & Light Revenue 5.000%   3/1/25     10,370     10,384
  Springfield IL Electric Power & Light Revenue 5.000%   3/1/26      5,565      5,573
  Springfield IL Electric Power & Light Revenue 5.000%   3/1/27      1,070      1,072
  Springfield IL Electric Power & Light Revenue 5.000%   3/1/32      1,000      1,002
  Springfield IL Electric Power & Light Revenue 5.000%   3/1/33      2,000      2,003
  Springfield IL GO 3.250%  12/1/30      1,085      1,069
  St. Clair County Community Unit School District No. 19 Mascoutah GO 5.000%   2/1/29        700        701
  University of Illinois College & University Revenue 5.000%   4/1/27      2,665      2,729
  University of Illinois College & University Revenue 5.000%  10/1/28        485        512
  University of Illinois College & University Revenue 5.000%  10/1/29        965      1,027
  University of Illinois College & University Revenue 5.000%  10/1/30      1,150      1,235
  University of Illinois College & University Revenue 4.000%   4/1/34      4,040      4,047
1 Western Illinois University College & University Revenue 4.000%   4/1/25        750        750
1 Western Illinois University College & University Revenue 4.000%   4/1/26      1,340      1,346
1 Western Illinois University College & University Revenue 4.000%   4/1/27      1,400      1,410
1 Will County Community Unit School District No. 201-U Crete-Monee GO 5.000%   1/1/26        275        279
3 Will County Community Unit School District No. 365-U Valley View GO 0.000%  11/1/26        855        805
3 Will County Community Unit School District No. 365-U Valley View GO, ETM 0.000%  11/1/26        145        138
1 Williamson Jackson Etc Counties Community College District No. 530 John A Logan College GO 5.000%  12/1/28      1,165      1,208
1 Winnebago & Boone Counties School District No. 205 Rockford GO 5.000%   2/1/27      1,245      1,291
1 Winnebago & Boone Counties School District No. 205 Rockford GO 5.000%   2/1/28      3,910      4,121
1 Winnebago & Boone Counties School District No. 205 Rockford GO 5.000%   2/1/29      4,175      4,465
1 Winnebago & Boone Counties School District No. 205 Rockford GO 5.000%   2/1/30      8,730      9,468
                                   2,121,307
Indiana (1.0%)
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/25        400        404
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/26      1,010      1,040
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/27        500        519
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/28        350        372
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/28        500        532
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/29        500        536
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/29        325        351
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/29        500        540
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/30        500        543
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/31        500        550
  Avon Community School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/31        700        774
  Brownsburg 1999 School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/26        350        356
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/27      1,235      1,297
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/28        475        503
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/28        485        518
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/29        500        538
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/29      5,355      5,813
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/29        675        733
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/30      1,000      1,094
1 Evansville Redevelopment Authority Lease (Abatement) Revenue (Arena Project) 4.000%   2/1/31      1,195      1,207
1 Evansville Redevelopment Authority Lease (Abatement) Revenue (Arena Project) 4.000%   2/1/32      1,670      1,683
1 Fishers IN Sewage Works Sewer Revenue 4.000%   1/1/26        200        202
1 Fishers IN Sewage Works Sewer Revenue 4.000%   1/1/27        225        229
1 Fishers IN Sewage Works Sewer Revenue 4.000%   1/1/28        275        282
1 Fishers IN Sewage Works Sewer Revenue 4.000%   1/1/29        275        283
  Fort Wayne IN Waterworks Utility Water Revenue 4.000%  12/1/32      1,315      1,315
1 Fort Wayne Redevelopment Authority Lease (Abatement) Revenue (Electric Works Project) 4.000%  6/15/27        775        792
1 Fort Wayne Redevelopment Authority Lease (Abatement) Revenue (Electric Works Project) 4.000%  6/15/28        805        828
1 Fort Wayne Redevelopment Authority Lease (Abatement) Revenue (Electric Works Project) 4.000% 12/15/28        410        422
  Franklin IN Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,340      1,369
  Griffith Public School Improvement Building Corp. Lease (Abatement) Revenue 4.000%  7/15/26      2,105      2,135
  Hammond Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/25      2,030      2,048
  Hammond Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/26      2,080      2,118
  Hammond Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/26      2,130      2,189
  Indiana Bond Bank Indirect Ad Valorem Property Revenue (Hamilton Co. Projects) 0.000%  7/15/25        450        443
  Indiana Bond Bank Indirect Ad Valorem Property Revenue (Hamilton Co. Projects) 0.000%  1/15/26        370        358
  Indiana Bond Bank Indirect Ad Valorem Property Revenue (Hamilton Co. Projects) 0.000%  7/15/26        370        351
  Indiana Bond Bank Indirect Ad Valorem Property Revenue (Hamilton Co. Projects) 0.000%  1/15/27        320        298
  Indiana Bond Bank Indirect Ad Valorem Property Revenue (Hamilton Co. Projects) 0.000%  7/15/27        320        292
  Indiana Finance Authority College & University Revenue (Butler University Project) 4.000%   2/1/25        275        275
  Indiana Finance Authority College & University Revenue (Butler University Project) 4.000%   2/1/26        540        544
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Indiana Finance Authority Electric Power & Light Revenue (Ohio Valley Electric Corp. Project) 3.000%  11/1/30      1,250      1,192
  Indiana Finance Authority Electric Power & Light Revenue (Ohio Valley Electric Corp. Project) 4.250%  11/1/30      5,275      5,398
  Indiana Finance Authority Electric Power & Light Revenue PUT 0.750%   4/1/26      5,900      5,700
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/25        380        381
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/25      1,205      1,211
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25      6,240      6,333
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25      5,315      5,394
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25      1,550      1,573
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/26        450        459
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/26        395        398
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  9/15/26        750        764
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/27        830        852
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/28        350        368
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  9/15/28        740        766
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  9/15/30      1,225      1,281
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/31        600        651
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  9/15/32      1,345      1,416
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue (Margaret Mary Health Project) 5.000%   3/1/29      1,410      1,471
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue PUT 2.250%   7/1/25      7,250      7,202
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue PUT 0.700%   1/1/26      7,500      7,316
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue PUT 2.100%  11/1/26      4,210      4,079
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/28     16,835     17,844
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/30     32,015     34,863
  Indiana Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/32     10,000     11,134
2 Indiana Finance Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.300% 2.550%   3/1/39      2,905      2,870
  Indiana Finance Authority Industrial Revenue (United States Steel Corp. Project) 4.125%  12/1/26      9,415      9,411
  Indiana Finance Authority Industrial Revenue (Valley Electric Corp. Project) 2.500%  11/1/30      1,000        918
  Indiana Finance Authority Intergovernmental Agreement Revenue (Citizens Energy Group Project) 5.000%  10/1/30        670        743
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/27      1,000      1,057
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/28      1,430      1,537
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/29      1,200      1,310
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/29      2,295      2,506
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/29      1,600      1,747
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/30      2,750      3,049
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/30      1,175      1,303
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue 3.750%   1/1/49      1,475      1,473
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue 3.250%   7/1/49      1,145      1,133
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue 3.000%   7/1/50      3,860      3,780
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue 3.000%   7/1/52      3,185      3,099
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue 4.750%   7/1/52      2,930      3,014
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue 5.000%   7/1/53      3,150      3,257
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue 5.750%   7/1/53      1,460      1,545
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue (Dalehaven Estates Project) PUT 5.000%   6/1/26      6,075      6,197
  Indiana Housing & Community Development Authority Local or Guaranteed Housing Revenue PUT 3.300%   1/1/28      1,860      1,851
  Indiana Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/29      1,520      1,563
10 Indiana Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/30      3,000      3,276
10 Indiana Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/31     10,000     11,078
10 Indiana Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/32      5,500      6,163
  Indianapolis Local Public Improvement Bond Bank Economic Development Revenue 5.000%   3/1/33      1,100      1,159
  Indianapolis Local Public Improvement Bond Bank Miscellaneous Revenue 5.000%   2/1/30      1,000      1,087
  Indianapolis Local Public Improvement Bond Bank Miscellaneous Revenue 5.000%   2/1/31      2,600      2,870
  Indianapolis Local Public Improvement Bond Bank Miscellaneous Revenue 5.000%   2/1/32        895        998
5 Indianapolis Local Public Improvement Bond Bank Miscellaneous Revenue TOB VRDO 1.950%   2/3/25      3,000      3,000
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/25      6,190      6,221
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 4.000%  1/15/26      5,660      5,719
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/26      6,765      6,872
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/27      1,800      1,867
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/28      2,000      2,134
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/29      1,300      1,399
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/29      1,100      1,193
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/30        600        656
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/30        600        655
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/30      2,000      2,183
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/30      1,000      1,099
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/30        600        659
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/31        740        817
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/31      1,250      1,380
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/31      1,100      1,222
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/31        600        667
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/31        700        777
  IPS Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/31        650        722
  Lawrence Township School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/26        360        367
  MSD of Wash Township School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/27        930        953
  Portage Redevelopment Authority Lease (Abatement) Revenue 4.000%   8/1/30      1,385      1,387
  Richmond Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/29      1,635      1,636
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 3.000%  7/15/26        300        300
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/27        350        358
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 4.000%  1/15/28        375        385
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/28        300        309
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 4.000%  1/15/29        300        310
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/29        300        311
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 4.000%  1/15/30        400        416
  Seymour Elementary School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/30        400        417
  Tippecanoe County School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/25        550        553
  Tippecanoe County School Building Corp. Lease (Abatement) Revenue 4.000%  1/15/26        420        424
  Tippecanoe County School Building Corp. Lease (Abatement) Revenue 4.000%  7/15/26      1,065      1,080
  Tippecanoe County School Building Corp. Lease (Abatement) Revenue 4.000%  1/15/27      1,190      1,212
  Vigo County Building Corp. Lease (Abatement) Revenue 5.000%  7/15/25        800        807
  Vigo County Building Corp. Lease (Abatement) Revenue 5.000%  7/15/26        635        653
  Vigo County Building Corp. Lease (Abatement) Revenue 5.000%  1/15/27      1,295      1,344
1 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/27        500        523
1 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/28      1,175      1,238
1 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/29      1,070      1,144
1 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/30      1,000      1,092
1 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/31        620        682
1 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/31      1,000      1,105
1 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.000%  7/15/31        630        696
  Whiting Redevelopment District Tax Increment/Allocation Revenue 3.500%  7/15/26        970        963
  Whiting Redevelopment District Tax Increment/Allocation Revenue 4.000%  1/15/32      3,950      3,796
                                     298,419
Iowa (0.2%)
  Asbury IA GO 2.625%   6/1/29        315        300
  Iowa City Community School District GO 2.900%   6/1/31      2,800      2,621
  Iowa City Community School District GO 2.950%   6/1/32      3,010      2,788
  Iowa City Community School District GO 3.000%   6/1/33      3,100      2,926
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/25      1,700      1,701
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/25        990        990
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/26      2,000      2,033
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/26         90         89
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/27      1,000      1,019
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 6.600%  5/15/28      1,075      1,122
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/29        415        401
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/30      1,260      1,258
  Iowa Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/31      3,710      3,730
  Iowa Finance Authority Local or Guaranteed Housing Revenue 4.000%   7/1/47        525        526
  Iowa Finance Authority Local or Guaranteed Housing Revenue 4.000%   7/1/47      1,630      1,639
  Iowa Finance Authority Local or Guaranteed Housing Revenue 3.500%   1/1/49        800        791
  Iowa Finance Authority Local or Guaranteed Housing Revenue 3.000%   1/1/52        775        754
  Iowa Finance Authority Local or Guaranteed Housing Revenue 5.000%   7/1/52     11,025     11,440
  Iowa Finance Authority Local or Guaranteed Housing Revenue 6.000%   7/1/52      3,545      3,775
  Iowa Finance Authority Local or Guaranteed Housing Revenue (Mortgage-Backed Securities Program) 3.250%   7/1/50      2,925      2,886
  Iowa Higher Education Loan Authority College & University Revenue (Des Moines University Project) 5.000%  10/1/25        345        348
  Iowa Higher Education Loan Authority College & University Revenue (Des Moines University Project) 5.000%  10/1/26        705        724
  Iowa Higher Education Loan Authority College & University Revenue (Des Moines University Project) 5.000%  10/1/27      1,050      1,094
  Iowa Higher Education Loan Authority College & University Revenue (Des Moines University Project) 5.000%  10/1/28        370        390
  Iowa Tobacco Settlement Authority Tobacco Settlement Funded Revenue 5.000%   6/1/27        425        439
  Iowa Tobacco Settlement Authority Tobacco Settlement Funded Revenue 5.000%   6/1/29      1,300      1,372
  Marion IA GO 2.500%   6/1/30        370        340
  Xenia Rural Water District Water Revenue 5.000%  12/1/28      1,500      1,540
                                      49,036
Kansas (0.3%)
  Burlington KS Industrial Revenue PUT 4.300%   6/1/26      7,630      7,666
5,9 Coffeyville KS Electric System Electric Power & Light Revenue 5.000%   6/1/26      1,500      1,506
5,9 Coffeyville KS Electric System Electric Power & Light Revenue 5.000%   6/1/27      1,600      1,606
5,9 Coffeyville KS Electric System Electric Power & Light Revenue 5.250%   6/1/28      1,600      1,608
5,9 Coffeyville KS Electric System Electric Power & Light Revenue 5.250%   6/1/29      1,700      1,708
  Hutchinson KS Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      1,100      1,097
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Kansas Development Finance Authority College & University Revenue (Wichita State University Projects) 3.000%   6/1/31      1,645      1,569
  Kansas Development Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/28     28,850     30,702
  Kansas Development Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000% 11/15/28      2,860      3,028
  Kansas Development Finance Authority Local or Guaranteed Housing Revenue PUT 5.000%   6/1/27      4,735      4,874
  Lawrence KS Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,000      1,006
  Lawrence KS Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        500        509
  Lawrence KS Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        500        517
  Lyon County Unified School District No. 253 Emporia GO 4.000%   9/1/26      1,020      1,035
  Lyon County Unified School District No. 253 Emporia GO 4.000%   9/1/27        870        891
  Manhattan KS GO 0.400%  6/15/25     12,015     11,827
1 Manhattan KS GO 5.000%  6/15/28      6,870      7,023
  Manhattan KS Health, Hospital, Nursing Home Revenue 4.000%   6/1/28        300        297
  Prairie Village KS Special Obligation Revenue (Meadowbrook TIF Project) 2.875%   4/1/30         65         64
  Sedgwick County Unified School District No. 266 Maize GO 3.000%   9/1/26      6,300      6,296
  Seward County Unified School District No. 480 Liberal GO 5.000%   9/1/25      1,750      1,771
8 Wichita KS Local or Guaranteed Housing Revenue 3.750%  11/1/25      3,000      3,006
1 Wyandotte County-Kansas City Unified Government GO 4.000%   8/1/26      1,980      2,008
1 Wyandotte County-Kansas City Unified Government GO 4.000%   8/1/26      1,515      1,536
1 Wyandotte County-Kansas City Unified Government GO 4.000%   8/1/27      2,065      2,113
  Wyandotte County-Kansas City Unified Government Utility System Electric Power & Light Revenue 4.000%   9/1/33      1,810      1,820
                                      97,083
Kentucky (2.2%)
  Ashland KY Health, Hospital, Nursing Home Revenue 5.000%   2/1/25        940        940
  Ashland KY Health, Hospital, Nursing Home Revenue 5.000%   2/1/26      1,635      1,655
  Ashland KY Health, Hospital, Nursing Home Revenue 5.000%   2/1/27      1,970      2,021
  Ashland KY Health, Hospital, Nursing Home Revenue (Kings Daughters Medical Center Project) 5.000%   2/1/29      1,000      1,013
  Carroll County KY Industrial Revenue (Kentucky Utilities Co. Project) PUT 1.550%   9/1/26     12,250     11,711
  Commonwealth of Kentucky COP 5.000%  6/15/34      1,320      1,327
  Eastern Kentucky University College & University Revenue 5.000%   4/1/28      1,030      1,087
  Eastern Kentucky University College & University Revenue 5.000%   4/1/29      1,080      1,156
  Eastern Kentucky University College & University Revenue 5.000%   4/1/30      1,135      1,232
  Elizabethtown KY GO 2.500%   8/1/29        460        425
3 Fayette County School District Finance Corp. Lease(Renewal) Revenue 5.000%   8/1/30      1,000      1,009
  Kenton KY GO 4.000%   4/1/30      1,000      1,014
  Kentucky Asset Liability Commission Appropriations Revenue (Project NTS-Federal Highway Trust Fund-1) 5.000%   9/1/27      1,425      1,440
  Kentucky Asset Liability Commission Lease (Appropriation) Revenue 5.000%  11/1/27      1,000      1,053
  Kentucky Bond Development Corp. College & University Revenue 4.000%   6/1/27        120        122
  Kentucky Bond Development Corp. College & University Revenue 4.000%   6/1/28        125        128
  Kentucky Bond Development Corp. College & University Revenue (Transylvania University Project) 5.000%   3/1/28        195        204
  Kentucky Bond Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   5/1/25      1,000      1,005
  Kentucky Bond Development Corp. Intergovernmental Agreement Revenue (Lexington Center Corp. Project) 5.000%   9/1/25      1,660      1,679
1 Kentucky Bond Development Corp. Lease Revenue 5.000%   9/1/26      2,060      2,123
  Kentucky Economic Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      1,000      1,009
  Kentucky Economic Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      1,325      1,362
  Kentucky Economic Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/27      1,275      1,334
  Kentucky Economic Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/30      3,000      3,075
  Kentucky Economic Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      1,000      1,039
2 Kentucky Economic Development Finance Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 1.400% 3.650%   2/1/46      1,000      1,000
  Kentucky Housing Corp. Local or Guaranteed Housing Revenue (Beecher Terrace Phase IV Project) PUT 5.000%   9/1/26      3,810      3,882
9 Kentucky Municipal Power Agency Electric Power & Light Revenue 5.000%   9/1/26         90         91
9 Kentucky Municipal Power Agency Electric Power & Light Revenue 5.000%   9/1/27      1,690      1,707
9 Kentucky Municipal Power Agency Electric Power & Light Revenue 5.000%   9/1/30      1,680      1,695
  Kentucky Municipal Power Agency Electric Power & Light Revenue (Prairie State Project) 5.000%   9/1/25        800        808
  Kentucky Municipal Power Agency Electric Power & Light Revenue (Prairie State Project) 5.000%   9/1/26      2,585      2,649
  Kentucky Municipal Power Agency Electric Power & Light Revenue (Prairie State Project) 5.000%   9/1/32        165        172
9 Kentucky Municipal Power Agency Electric Power & Light Revenue (Prairie State Project) 5.000%   9/1/32      1,625      1,662
  Kentucky Municipal Power Agency Electric Power & Light Revenue (Prairie State Project) 5.000%   9/1/33      1,000      1,038
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   2/1/25      1,905      1,905
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   8/1/25      1,780      1,785
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%  12/1/25        825        829
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   2/1/26      1,075      1,080
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   6/1/26      1,085      1,092
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   8/1/26      1,890      1,903
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   2/1/27      2,110      2,124
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   8/1/27        305        307
  Kentucky Public Energy Authority Natural Gas Revenue 4.000%   8/1/27      1,980      1,995
  Kentucky Public Energy Authority Natural Gas Revenue 5.000%   7/1/29      1,500      1,577
  Kentucky Public Energy Authority Natural Gas Revenue 5.000%   8/1/29      1,000      1,052
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Kentucky Public Energy Authority Natural Gas Revenue 5.000%   2/1/30        550        580
  Kentucky Public Energy Authority Natural Gas Revenue 5.000%   7/1/30      2,090      2,199
  Kentucky Public Energy Authority Natural Gas Revenue 5.000%   8/1/30      2,000      2,117
  Kentucky Public Energy Authority Natural Gas Revenue 5.000%   2/1/31      1,425      1,514
  Kentucky Public Energy Authority Natural Gas Revenue 5.000%   8/1/31      5,770      6,146
  Kentucky Public Energy Authority Natural Gas Revenue PUT 4.000%   6/1/25    110,060    110,222
  Kentucky Public Energy Authority Natural Gas Revenue PUT 4.000%   6/1/25     36,850     36,904
  Kentucky Public Energy Authority Natural Gas Revenue PUT 4.000%   6/1/26    123,920    124,646
  Kentucky Public Energy Authority Natural Gas Revenue PUT 4.000%   2/1/28     36,710     36,801
  Kentucky Public Energy Authority Natural Gas Revenue PUT 5.000%   7/1/30     62,835     65,856
  Kentucky Public Energy Authority Natural Gas Revenue PUT 4.000%   8/1/30     11,290     11,269
  Kentucky Public Energy Authority Natural Gas Revenue PUT 5.250%   2/1/32     12,260     13,187
  Kentucky Public Energy Authority Natural Gas Revenue PUT 5.000%   8/1/32     60,000     63,835
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue 5.000%   8/1/27        350        353
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue 5.000%   8/1/32      5,000      5,039
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 108) 5.000%   8/1/27      1,640      1,656
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 108) 5.000%   8/1/29      1,000      1,009
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 112) 5.000%  11/1/27      1,650      1,707
1 Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 115) 5.000%   4/1/31      1,430      1,484
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 117) 5.000%   5/1/28        500        523
3 Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 124) 5.000%  11/1/28      1,150      1,237
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 128) 5.000%  11/1/27        260        275
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 128) 5.000%  11/1/28        375        403
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 128) 5.000%  11/1/29        500        545
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 128) 5.000%  11/1/30      1,025      1,134
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 131) 5.000%  10/1/28      1,220      1,310
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 131) 5.000%  10/1/29      1,875      2,045
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 131) 5.000%  10/1/30        765        846
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 131) 5.000%  10/1/31      1,435      1,604
  Kentucky Turnpike Authority Lease (Appropriation) Revenue 5.000%   7/1/28        170        174
  Kentucky Turnpike Authority Lease (Appropriation) Revenue (Revitalization Projects) 5.000%   7/1/33      3,000      3,019
  Lexington-Fayette Urban County Government GO 3.000%   9/1/28      1,000        962
  Louisville Water Co. Water Revenue 3.125% 11/15/30      3,750      3,704
  Louisville-Jefferson County Metropolitan Government Health, Hospital, Nursing Home Revenue 0.900%   9/1/26      1,440      1,372
  Louisville-Jefferson County Metropolitan Government Health, Hospital, Nursing Home Revenue 5.000%  10/1/26     24,765     25,455
  Louisville-Jefferson County Metropolitan Government Health, Hospital, Nursing Home Revenue 5.000%  10/1/29      1,000      1,066
  Louisville-Jefferson County Metropolitan Government Health, Hospital, Nursing Home Revenue 5.000%  10/1/29     29,680     31,678
  Louisville-Jefferson County Metropolitan Government Health, Hospital, Nursing Home Revenue 5.000%  10/1/31      5,655      5,795
  Owensboro KY Electric Light & Power System Electric Power & Light Revenue 4.000%   1/1/26      4,460      4,485
  Owensboro KY Electric Light & Power System Electric Power & Light Revenue 5.000%   1/1/26      1,710      1,738
  Owensboro KY Electric Light & Power System Electric Power & Light Revenue 4.000%   1/1/27      1,975      1,995
  Owensboro KY Electric Light & Power System Electric Power & Light Revenue 5.000%   1/1/27      7,145      7,375
3 Paducah Electric Plant Board Electric Power & Light Revenue 5.000%  10/1/26      1,100      1,132
  University of Kentucky College & University Revenue 3.250%   4/1/28      2,235      2,248
  University of Kentucky College & University Revenue 3.500%   4/1/29      2,305      2,313
  University of Kentucky College & University Revenue 5.000%   4/1/30      4,260      4,270
3 University of Louisville College & University Revenue 5.000%   9/1/28      1,230      1,303
  Warren County KY Health, Hospital, Nursing Home Revenue 5.000%   4/1/25        295        296
  Warren County KY Health, Hospital, Nursing Home Revenue 5.000%   4/1/26        690        705
  Warren County KY Health, Hospital, Nursing Home Revenue 5.000%   4/1/27        500        522
  Warren County KY Health, Hospital, Nursing Home Revenue 5.000%   4/1/28      1,235      1,311
  Warren County KY Health, Hospital, Nursing Home Revenue 5.000%   4/1/29        530        571
  Warren County School District Finance Corp. Lease(Renewal) Revenue 4.000%   4/1/26      3,440      3,480
  Warren County School District Finance Corp. Lease(Renewal) Revenue 3.000%   4/1/28      2,000      1,957
                                     675,888
Louisiana (1.6%)
  Calcasieu Parish Memorial Hospital Service District Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      1,910      1,927
  Calcasieu Parish Memorial Hospital Service District Health, Hospital, Nursing Home Revenue 5.000%  12/1/28      2,000      2,036
  Calcasieu Parish Memorial Hospital Service District Health, Hospital, Nursing Home Revenue 5.000%  12/1/29      2,000      2,042
  Calcasieu Parish Memorial Hospital Service District Health, Hospital, Nursing Home Revenue 5.000%  12/1/34      6,735      6,786
5,6 Calcasieu Parish Public Trust Authority Multi Family Housing Local or Guaranteed Housing Revenue TOB VRDO 2.200%   2/3/25      5,226      5,226
1 Calcasieu Parish School District No. 23 GO 5.000%   9/1/25        790        799
1 Calcasieu Parish School District No. 23 GO 3.000%   9/1/26        675        673
  East Baton Rouge Sewerage Commission Sewer Revenue PUT 1.300%   2/1/28      8,000      7,173
3 Greater New Orleans Expressway Commission Highway Revenue 5.000%  11/1/25        570        579
1 Greater Ouachita Water Co. Water Revenue 5.000%   9/1/25        500        505
1 Jefferson Parish Consolidated Waterworks District No. 2 Water Revenue 4.000%   2/1/28      1,000      1,027
1 Jefferson Parish Consolidated Waterworks District No. 2 Water Revenue 4.000%   2/1/29      2,500      2,581
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 Jefferson Parish Consolidated Waterworks District No. 2 Water Revenue 4.000%   2/1/30      3,000      3,108
3 Lafayette LA Utilities Electric Power & Light Revenue 5.000%  11/1/25        500        508
  Louisiana Gasoline & Fuels Tax Fuel Sales Tax Revenue 5.000%   5/1/30      3,500      3,846
  Louisiana Gasoline & Fuels Tax Fuel Sales Tax Revenue 5.000%   5/1/31      3,735      4,159
2 Louisiana Gasoline & Fuels Tax Fuel Sales Tax Revenue, 70% of SOFR + 0.500% 3.545%   5/1/43     10,990     10,961
  Louisiana GO 5.000%  10/1/26      6,750      6,992
  Louisiana GO 5.000%   2/1/27      5,000      5,209
  Louisiana GO 5.000%   2/1/29      6,000      6,485
8 Louisiana Housing Corp. Local or Guaranteed Housing Revenue (Benoit Townhomes Project) PUT 3.750%   8/1/26      1,300      1,310
  Louisiana Housing Corp. Local or Guaranteed Housing Revenue (Capstone at the Oaks Project) PUT 5.000%   6/1/26     10,840     11,001
  Louisiana Housing Corp. Local or Guaranteed Housing Revenue (Fairmont Tower Project) PUT 5.000%   4/1/26      9,439      9,552
  Louisiana Housing Corp. Local or Guaranteed Housing Revenue (Glen Oaks Apartments Project) PUT 5.000%  11/1/25      2,523      2,556
  Louisiana Housing Corp. Local or Guaranteed Housing Revenue (Highland Place Township Project) PUT 5.000%   7/1/27      3,715      3,834
8 Louisiana Housing Corp. Local or Guaranteed Housing Revenue (Tivoli Place Project) 5.000%   7/1/26     11,081     11,289
  Louisiana Housing Corp. Local or Guaranteed Housing Revenue PUT 5.000%   6/1/25     10,000     10,057
8 Louisiana Housing Corp. Local or Guaranteed Housing Revenue PUT 5.000%   4/1/27      1,455      1,502
  Louisiana Local Government Environmental Facilities & Community Development Authority College & University Revenue (LCTCS Act 360 Project) 5.000%  10/1/26      1,055      1,090
  Louisiana Local Government Environmental Facilities & Community Development Authority College & University Revenue (LCTCS Act 360 Project) 5.000%  10/1/27      1,000      1,046
  Louisiana Local Government Environmental Facilities & Community Development Authority Health, Hospital, Nursing Home Revenue (Woman's Foundation Project) 4.000%  10/1/25      2,075      2,086
  Louisiana Local Government Environmental Facilities & Community Development Authority Industrial Revenue (Westlake Chemical Corp. Project) 3.500%  11/1/32      7,450      7,164
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/25      1,920      1,940
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/26      2,195      2,259
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/27      4,190      4,362
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/28      4,265      4,456
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/30      6,500      6,744
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/31     11,080     11,485
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/33      4,900      5,058
1 Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue (LCTCS Act 391 Project) 5.000%  10/1/25      4,300      4,356
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue (Louisiana Insurance Guaranty Association Project) 5.000%  8/15/29      5,250      5,468
  Louisiana Offshore Terminal Authority Industrial Revenue (Loop LLC Project) 4.150%   9/1/27     10,325     10,404
  Louisiana Offshore Terminal Authority Industrial Revenue (Loop LLC Project) PUT 4.200%   9/1/28      6,170      6,204
  Louisiana Offshore Terminal Authority Industrial Revenue (Loop LLC Project) PUT 4.200%   9/1/28      4,140      4,160
  Louisiana Offshore Terminal Authority Port, Airport & Marina Revenue (Loop LLC Project) PUT 4.200%  10/1/25      5,185      5,203
  Louisiana Offshore Terminal Authority Port, Airport & Marina Revenue (Loop LLC Project) PUT 4.200%  10/1/26      2,150      2,163
  Louisiana Public Facilities Authority College & University Revenue 4.000% 12/15/32      1,335      1,344
  Louisiana Public Facilities Authority College & University Revenue (Tulane University of Louisiana Project) 4.000% 12/15/33      2,140      2,150
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      2,540      2,560
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25      3,995      4,036
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25      6,600      6,668
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/26        700        714
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      2,670      2,740
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/26      6,330      6,506
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/27        440        455
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/27      5,000      5,223
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/28        400        419
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      1,060      1,066
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue (Louisiana Children's Medical Center Project) PUT 5.000%   6/1/25     27,500     27,647
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue (Ochsner Clinic Foundation Project) 5.000%  5/15/25        720        724
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue (Ochsner Clinic Foundation Project) 5.000%  5/15/29      1,500      1,552
  Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  5/15/25     21,180     21,269
5 Louisiana State Local Government Environmental Facilities & Community Development Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.390%   2/6/25      6,935      6,935
3 New Orleans Aviation Board Auto Parking Revenue 5.000%  10/1/25        350        355
6 Plaquemines Port Harbor & Terminal District Port, Airport & Marina Revenue 4.000%  3/15/25      4,075      4,076
6 Plaquemines Port Harbor & Terminal District Port, Airport & Marina Revenue 4.000%  3/15/25      2,500      2,501
3 Shreveport LA GO 5.000%   3/1/28        550        576
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
10 Shreveport LA GO 5.000%   3/1/28        335        351
3 Shreveport LA GO 5.000%   3/1/29      1,200      1,272
10 Shreveport LA GO 5.000%   3/1/29        310        329
1 Shreveport LA GO 5.000%   8/1/29      2,800      2,903
3 Shreveport LA GO 5.000%   3/1/30        700        749
10 Shreveport LA GO 5.000%   3/1/30        425        455
1 Shreveport LA GO 5.000%   8/1/30      5,355      5,546
10 Shreveport LA GO 5.000%   3/1/31        630        683
10 Shreveport LA GO 5.000%   3/1/32        600        654
1 Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/25      2,000      2,030
1 Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/28      1,145      1,211
1 Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/29      1,000      1,031
1 Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/29      1,000      1,051
3 Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/30      4,050      4,107
1 Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/30        825        830
3 Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/31      1,105      1,155
  St. John Parish the Baptist LA Industrial Revenue (Marathon Oil Corp. Project) PUT 2.200%   7/1/26     40,700     40,108
  St. John Parish the Baptist LA Industrial Revenue (Marathon Oil Corp. Project) PUT 2.375%   7/1/26     45,110     44,562
  St. John Parish the Baptist LA Industrial Revenue (Marathon Oil Corp. Project) PUT 4.050%   7/1/26     21,380     21,610
  St. John Parish the Baptist LA Industrial Revenue PUT 3.300%   7/3/28     34,575     34,606
  St. John the Baptist Parish School District No. 1 GO 5.250%   3/1/30      2,385      2,531
  Tangipahoa Parish Hospital Service District No. 1 Health, Hospital, Nursing Home Revenue (North Oaks Health System Project) 5.000%   2/1/27      1,320      1,357
  Tangipahoa Parish Hospital Service District No. 1 Health, Hospital, Nursing Home Revenue (North Oaks Health System Project) 5.000%   2/1/28      2,050      2,133
  Tangipahoa Parish Hospital Service District No. 1 Health, Hospital, Nursing Home Revenue (North Oaks Health System Project) 5.000%   2/1/29      1,530      1,607
                                     481,758
Maine (0.2%)
  Maine Health & Higher Educational Facilities Authority College & University Revenue 4.000%   7/1/25        595        597
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        205        207
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/26        555        561
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        500        512
3 Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        400        411
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        625        652
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        395        410
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/28        650        665
3 Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        450        478
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,250      1,356
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue, ETM 5.000%   7/1/25         95         96
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue, ETM 4.000%   7/1/26        195        197
  Maine Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue, ETM 5.000%   7/1/27        125        131
  Maine State Housing Authority Local or Guaranteed Housing Revenue 3.450% 11/15/27      4,050      4,056
  Maine State Housing Authority Local or Guaranteed Housing Revenue 3.500% 11/15/28      1,075      1,077
  Maine State Housing Authority Local or Guaranteed Housing Revenue 3.550% 11/15/29      7,530      7,576
  Maine State Housing Authority Local or Guaranteed Housing Revenue 3.600% 11/15/29      1,960      1,967
  Maine State Housing Authority Local or Guaranteed Housing Revenue 3.650% 11/15/30      2,000      2,008
  Maine State Housing Authority Local or Guaranteed Housing Revenue 3.500% 11/15/47        560        558
  Maine State Housing Authority Local or Guaranteed Housing Revenue 4.000% 11/15/47        320        320
  Maine State Housing Authority Local or Guaranteed Housing Revenue 4.000% 11/15/48        880        882
  Maine State Housing Authority Local or Guaranteed Housing Revenue 4.000% 11/15/50        545        548
  Maine State Housing Authority Local or Guaranteed Housing Revenue 5.000% 11/15/52      1,260      1,299
  Maine State Housing Authority Local or Guaranteed Housing Revenue PUT 3.250% 11/15/25     13,020     13,022
  Regional School Unit No. 14 BAN GO 5.000%  5/15/25     32,000     32,168
                                      71,754
Maryland (1.2%)
  Anne Arundel County MD GO 5.000%   4/1/28      1,395      1,399
5 Baltimore MD Special Obligation Revenue (Harbor Point Project) 2.850%   6/1/26        135        133
5 Baltimore MD Special Obligation Revenue (Harbor Point Project) 2.950%   6/1/27        175        171
  Gaithersburg MD Health, Hospital, Nursing Home Revenue (Asbury MD Obligation Group Project) 4.500%   1/1/26      2,000      2,006
  Howard County Housing Commission Local or Guaranteed Housing Revenue 1.200%   6/1/27      3,355      3,148
  Howard County Housing Commission Local or Guaranteed Housing Revenue 1.600%   6/1/29      1,000        888
  Howard County MD GO 5.000%  2/15/31      2,390      2,485
  Hyattsville MD Special Obligation Revenue (University Town Center Project) 5.000%   7/1/27      1,500      1,502
5,8 Maryland Community Development Administration Local or Guaranteed Housing Revenue 5.000%   1/1/26     25,720     25,805
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 3.300%   1/1/29      4,660      4,663
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 1.800%   9/1/30      1,395      1,226
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 1.700%   3/1/32      1,410      1,173
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 4.500%   9/1/48      1,515      1,532
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 4.000%   9/1/49        910        913
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 4.250%   9/1/49      1,250      1,260
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 3.500%   3/1/50      8,155      8,102
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 3.000%   9/1/51      6,455      6,343
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 3.000%   9/1/51      2,360      2,311
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 3.000%   9/1/51      4,585      4,489
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 5.000%   9/1/52     15,700     16,169
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 6.000%   3/1/53      9,175      9,786
  Maryland Community Development Administration Local or Guaranteed Housing Revenue 5.750%   9/1/54      2,205      2,344
  Maryland Department of Transportation Fuel Sales Tax Revenue 4.000% 12/15/25      4,550      4,553
  Maryland Department of Transportation Fuel Sales Tax Revenue 4.000% 12/15/27      5,000      5,003
  Maryland Department of Transportation Fuel Sales Tax Revenue 4.000%   5/1/28     10,465     10,482
  Maryland Department of Transportation Intergovernmental Agreement Revenue 4.000%  12/1/30      3,445      3,483
  Maryland Department of Transportation Intergovernmental Agreement Revenue 4.000%  12/1/31      2,590      2,611
  Maryland Economic Development Corp. Industrial Revenue PUT 4.100%   4/3/28     10,785     10,991
  Maryland Economic Development Corp. Local or Guaranteed Housing Revenue (Prg - Towson Place Properties LLC Project) 5.000%   6/1/28        300        309
  Maryland Economic Development Corp. Local or Guaranteed Housing Revenue (Prg - Towson Place Properties LLC Project) 5.000%   6/1/29        300        310
  Maryland Economic Development Corp. Local or Guaranteed Housing Revenue (Prg - Towson Place Properties LLC Project) 5.000%   6/1/30        300        311
  Maryland Economic Development Corp. Local or Guaranteed Housing Revenue (Prg - Towson Place Properties LLC Project) 5.000%   6/1/31        565        588
  Maryland Economic Development Corp. Port, Airport & Marina Revenue (Transportation Facilities Project) 5.000%   6/1/25      1,500      1,505
  Maryland Economic Development Corp. Tax Allocation Revenue (Port Convington Project) 3.250%   9/1/30      2,385      2,309
  Maryland Economic Development Corp. Tax Increment/Allocation Revenue (Metro Centre at Owings Mills Project) 3.750%   7/1/27      1,840      1,826
  Maryland GO 5.000%  3/15/25     32,130     32,215
  Maryland GO 2.750%   8/1/25        590        589
  Maryland GO 5.000%   6/1/26      1,150      1,153
  Maryland GO 4.000%   6/1/27      7,000      7,002
  Maryland GO 4.000%   6/1/28     15,565     15,568
  Maryland GO 4.000%   6/1/29      1,250      1,250
6 Maryland Health & Higher Educational Facilities Authority College & University Revenue VRDO 2.740%   2/5/25     31,700     31,700
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/25        460        462
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        735        738
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        565        569
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/26        170        172
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26        800        801
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/27        195        200
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/27      3,960      4,138
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/27      3,100      3,105
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/28        135        140
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        875        918
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/29        135        141
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      1,670      1,764
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      2,000      2,013
4 Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      1,800      1,940
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30        565        581
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,445      1,546
4 Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,700      1,856
4 Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      2,450      2,704
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      1,000      1,025
4 Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      2,600      2,896
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/33      2,190      2,201
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/27      8,310      8,589
4 Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/31      4,775      5,232
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/45      5,090      5,091
5,6 Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.600%   2/6/25     12,570     12,570
  Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/25     12,700     12,811
2,5 Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.540% 2.790%   7/1/41     31,690     31,690
  Maryland Stadium Authority Appropriations Revenue 5.000%   3/1/26      1,000      1,025
  Maryland Stadium Authority Appropriations Revenue 5.000%   3/1/28      1,375      1,460
  Maryland Stadium Authority Appropriations Revenue 5.000%   3/1/29      2,190      2,360
  Maryland Stadium Authority Appropriations Revenue 5.000%   6/1/30      1,000      1,100
  Maryland Stadium Authority Appropriations Revenue 5.000%   6/1/31      1,765      1,966
  Maryland Water Infrastructure Financing Administration Bay Restoration Fund Sewer Revenue 3.000%   3/1/27      3,000      2,963
  Maryland Water Infrastructure Financing Administration Bay Restoration Fund Water Revenue 5.000%   3/1/25      1,035      1,036
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
8 Montgomery County Housing Opportunities Commission Local or Guaranteed Housing Revenue 0.800%   7/1/25      1,250      1,233
  Prince George's County MD GO 5.000%   7/1/25      8,900      8,985
  Prince George's County MD Health, Hospital, Nursing Home Revenue 5.000%   4/1/25        750        750
  Rockville MD Health, Hospital, Nursing Home Revenue (Ingleside at King Farm Project) 5.000%  11/1/25      1,875      1,881
  Rockville MD Health, Hospital, Nursing Home Revenue (Ingleside at King Farm Project) 5.000%  11/1/27        600        610
  Rockville MD Health, Hospital, Nursing Home Revenue (Ingleside at King Farm Project) 5.000%  11/1/29        445        452
                                     363,320
Massachusetts (1.3%)
  Boston MA GO 4.000%   3/1/28      2,250      2,251
  Boston MA GO 4.000%   3/1/29      2,030      2,030
  Commonwealth of Massachusetts GO 5.000%   5/1/26      1,465      1,506
  Commonwealth of Massachusetts GO 3.000%  12/1/26     25,945     26,070
  Commonwealth of Massachusetts GO 5.000%   5/1/27      1,440      1,514
  Commonwealth of Massachusetts GO 5.000%   5/1/28      1,460      1,564
  Commonwealth of Massachusetts GO 5.000%   5/1/29      1,135      1,238
  Commonwealth of Massachusetts GO 5.000%  10/1/29     26,180     28,762
  Commonwealth of Massachusetts GO 3.000%   9/1/31      6,715      6,522
  Commonwealth of Massachusetts GO 5.000%   2/1/33      1,285      1,332
  Dedham MA GO 2.650%  6/15/30        250        235
  Holyoke MA BAN GO 4.250%  4/11/25      2,500      2,505
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/27      1,000      1,056
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/27      1,100      1,161
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/27      2,015      2,127
  Massachusetts Bay Transportation Authority Sales Tax Revenue 0.000%   7/1/28     14,355     12,756
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/29      1,600      1,755
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/29      1,300      1,426
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/29      2,920      3,202
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/30      4,000      4,463
  Massachusetts Bay Transportation Authority Sales Tax Revenue 4.000%   7/1/35     12,000     12,004
  Massachusetts Clean Water Trust Water Revenue 5.000%   2/1/27      1,685      1,760
  Massachusetts Clean Water Trust Water Revenue 5.000%   2/1/29      1,175      1,276
  Massachusetts Development Finance Agency College & University Revenue 5.000%   6/1/25        265        266
  Massachusetts Development Finance Agency College & University Revenue 4.000%   7/1/25        235        234
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/25        525        527
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/25      1,500      1,506
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/25         65         65
  Massachusetts Development Finance Agency College & University Revenue 5.000%   9/1/25      1,145      1,149
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/26        550        558
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/26        280        284
  Massachusetts Development Finance Agency College & University Revenue 5.000%   6/1/26        210        213
  Massachusetts Development Finance Agency College & University Revenue 4.000%   7/1/26        245        242
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/26      1,025      1,039
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/26        175        178
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/27      2,165      2,232
  Massachusetts Development Finance Agency College & University Revenue 5.000%   6/1/27        220        219
  Massachusetts Development Finance Agency College & University Revenue 4.000%   7/1/27        500        489
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/27      1,475      1,505
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/27        185        190
  Massachusetts Development Finance Agency College & University Revenue 3.250%   9/1/27        145        143
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/28        940        941
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/28        175        182
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/29      1,500      1,502
  Massachusetts Development Finance Agency College & University Revenue 5.000%   6/1/29      1,945      1,925
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/29      1,700      1,726
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/29        185        194
  Massachusetts Development Finance Agency College & University Revenue 5.000%  10/1/29      1,820      1,855
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/30      3,680      3,684
  Massachusetts Development Finance Agency College & University Revenue 5.000%   6/1/30      1,725      1,700
  Massachusetts Development Finance Agency College & University Revenue 4.000%   7/1/30        350        332
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/30      4,560      4,627
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/30      1,420      1,456
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/30        195        205
  Massachusetts Development Finance Agency College & University Revenue 5.000%  10/1/30      2,145      2,183
  Massachusetts Development Finance Agency College & University Revenue 5.000%  10/1/30      1,020      1,130
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/31      1,730      1,732
  Massachusetts Development Finance Agency College & University Revenue 4.000%   7/1/31        365        342
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/31      1,860      1,902
  Massachusetts Development Finance Agency College & University Revenue 5.000%  10/1/31      2,480      2,518
  Massachusetts Development Finance Agency College & University Revenue 5.000%  10/1/32      2,680      2,714
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/33      1,350      1,362
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/33        800        813
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/34        550        557
  Massachusetts Development Finance Agency College & University Revenue 5.000%   7/1/34        410        415
  Massachusetts Development Finance Agency College & University Revenue 5.000%   1/1/35      4,580      4,585
  Massachusetts Development Finance Agency College & University Revenue (Williams College Project) PUT 0.450%   7/1/25      1,750      1,725
  Massachusetts Development Finance Agency College & University Revenue PUT 5.000%  10/1/28      7,780      8,304
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,195      1,193
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        780        786
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,570      1,582
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,400      1,408
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      2,320      2,338
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        680        686
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        370        373
5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 4.000%  10/1/25        500        499
3 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  10/1/25        285        288
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  10/1/25        650        658
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      2,055      2,106
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,245      1,280
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      5,735      5,890
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      2,135      2,193
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        500        512
5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 4.000%  10/1/26        500        498
3 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  10/1/26        600        618
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  10/1/26      1,300      1,340
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        560        561
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,055      1,077
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,485      1,545
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        935        955
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        685        713
3 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  10/1/27        525        550
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  10/1/27      1,500      1,573
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,270      1,299
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      2,500      2,552
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        600        608
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      2,000      2,070
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        785        805
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        830        875
3 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  10/1/28      1,075      1,142
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      1,500      1,529
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      2,700      2,792
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        975      1,001
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        765        816
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  8/15/29      1,860      1,877
5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 4.750%  12/1/29        900        901
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      3,375      3,462
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  8/15/30      3,890      3,924
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      2,000      2,035
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,000      1,053
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      4,625      4,739
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,305      1,348
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      3,710      3,802
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  8/15/31      4,585      4,624
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      5,815      5,946
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      4,450      4,993
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      4,120      4,153
5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 4.000%  10/1/32      1,880      1,835
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/33      3,810      3,888
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/34      1,620      1,643
  Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue 5.000%   7/1/34      1,500      1,501
5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue, ETM 5.000%  7/15/25        370        374
5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue, ETM 5.000%  7/15/26        320        330
5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue, ETM 5.000%  7/15/27        335        352
2,5 Massachusetts Development Finance Agency Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.600% 2.850%   7/1/49      6,575      6,571
  Massachusetts Development Finance Agency Local or Guaranteed Housing Revenue (Umass Boston Student Housing Program) 5.000%  10/1/26        600        609
  Massachusetts Development Finance Agency Local or Guaranteed Housing Revenue (Umass Dartmouth Student Housing Program) 5.000%  10/1/25      1,545      1,548
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Massachusetts Development Finance Agency Local or Guaranteed Housing Revenue (Umass Dartmouth Student Housing Program) 5.000%  10/1/26      1,865      1,876
8 Massachusetts Development Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%  11/1/25      2,500      2,533
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   6/1/25        275        277
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  12/1/25        280        285
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   6/1/26        150        154
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  12/1/26        150        156
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   6/1/27        300        313
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 3.050%  12/1/27      3,085      3,069
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%  12/1/27      5,550      5,575
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  12/1/27        300        316
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   6/1/28        150        159
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 4.050%  12/1/28      9,230      9,379
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  12/1/28        155        165
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 3.500%   6/1/29      3,505      3,493
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 3.750%   6/1/29     26,735     27,082
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 3.550%  12/1/29      7,155      7,114
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 3.450%  12/1/30      3,100      3,100
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 3.500%   6/1/42        995        994
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%  12/1/44        230        230
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  12/1/50        795        781
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%  12/1/50      1,915      1,926
  Massachusetts Housing Finance Agency Local or Guaranteed Housing Revenue PUT 1.850%   6/1/25      2,675      2,659
  Massachusetts School Building Authority Sales Tax Revenue 4.000%  1/15/32      9,860      9,862
  Massachusetts School Building Authority Sales Tax Revenue 4.000%  8/15/32     23,370     23,407
  Massachusetts State College Building Authority College & University Revenue 4.000%   5/1/29      1,875      1,880
  Massachusetts Transportation Trust Fund Metropolitan Highway System Highway Revenue VRDO 2.150%   2/6/25      2,900      2,900
  Quincy MA GO 4.000%   6/1/32      2,565      2,565
                                     400,634
Michigan (2.2%)
15 Allen Park Public School District GO 5.000%  11/1/26        335        340
3,15 Detroit City School District GO 5.250%   5/1/29      3,860      4,206
  Detroit Downtown Development Authority Tax Increment/Allocation Revenue (Catalyst Development Project) 5.000%   7/1/27        500        523
  Detroit Downtown Development Authority Tax Increment/Allocation Revenue (Catalyst Development Project) 5.000%   7/1/28        500        530
  Detroit Downtown Development Authority Tax Increment/Allocation Revenue (Catalyst Development Project) 5.000%   7/1/29        500        536
  Detroit Downtown Development Authority Tax Increment/Allocation Revenue (Catalyst Development Project) 5.000%   7/1/30      2,000      2,167
  Detroit Downtown Development Authority Tax Increment/Allocation Revenue (Catalyst Development Project) 5.000%   7/1/31      2,690      2,943
3,5,15 Detroit MI City School District GO TOB VRDO 2.650%   2/6/25      5,705      5,705
  Detroit MI GO 5.000%   4/1/30        475        511
  Detroit Regional Convention Facility Authority Appropriations Revenue 5.000%  10/1/26        500        517
  Detroit Regional Convention Facility Authority Appropriations Revenue 5.000%  10/1/27        625        656
  Detroit Regional Convention Facility Authority Appropriations Revenue 5.000%  10/1/28        500        533
  Detroit Regional Convention Facility Authority Appropriations Revenue 5.000%  10/1/29      1,250      1,350
  Detroit Regional Convention Facility Authority Appropriations Revenue 5.000%  10/1/30      1,635      1,786
  Detroit Regional Convention Facility Authority Appropriations Revenue 5.000%  10/1/31      1,500      1,653
3 Downriver Utility Wastewater Authority Sewer Revenue 5.000%   4/1/25        700        702
1 Eastern Michigan University College & University Revenue 5.000%   3/1/25      1,610      1,612
  Grand Traverse County Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,575      1,587
  Grand Traverse County Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        550        564
  Grand Traverse County Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        900        938
  Grand Traverse County Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        725        767
1 Grandville Public Schools GO 5.000%   5/1/25        595        598
1 Grandville Public Schools GO 5.000%   5/1/26        620        636
1 Grandville Public Schools GO 5.000%   5/1/27        655        675
1 Grandville Public Schools GO 5.000%   5/1/28        740        771
1 Grandville Public Schools GO 5.000%   5/1/29        790        832
1 Grandville Public Schools GO 5.000%   5/1/30        825        877
1 Grandville Public Schools GO 5.000%   5/1/31        860        922
  Great Lakes Water Authority Sewage Disposal System Sewer Revenue 5.000%   7/1/25      1,665      1,681
  Great Lakes Water Authority Sewage Disposal System Water Revenue 5.000%   7/1/30      5,000      5,128
  Great Lakes Water Authority Sewage Disposal System Water Revenue 5.000%   7/1/30      2,000      2,047
5 Great Lakes Water Authority Water Revenue TOB VRDO 2.050%   2/3/25      1,500      1,500
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/25      3,500      3,529
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/27      1,745      1,831
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/31     11,100     11,339
  Ingham County Building Authority Lease Revenue 2.000%   5/1/25      3,225      3,211
  Ingham County Building Authority Lease Revenue 2.000%   5/1/26      3,275      3,205
  Ingham County Building Authority Lease Revenue 2.000%   5/1/27      3,350      3,209
  Kalamazoo County MI GO 3.000%   5/1/25        875        875
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Kalamazoo County MI GO 3.000%   5/1/27      1,855      1,850
  Kalamazoo County MI GO 3.000%   5/1/28      1,910      1,888
  Kalamazoo Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/30      2,045      2,087
  Kalamazoo Hospital Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/31      1,490      1,497
  Kalamazoo Hospital Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/32      3,330      3,341
  Kalamazoo Hospital Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/33      2,345      2,350
  Karegnondi Water Authority Lease Revenue 5.000%  11/1/31      1,000      1,036
1 Karegnondi Water Authority Water Revenue 5.000%  11/1/28      1,500      1,610
1 Karegnondi Water Authority Water Revenue 5.000%  11/1/29      1,380      1,505
1 Karegnondi Water Authority Water Revenue 5.000%  11/1/30      1,325      1,464
1 Karegnondi Water Authority Water Revenue 5.000%  11/1/31      1,000      1,117
  Kent County MI GO 4.000%   1/1/33      5,905      5,905
  Kentwood Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/32      1,965      2,008
15 Lake Orion Community School District GO 5.000%   5/1/25      1,405      1,412
15 Lake Orion Community School District GO 4.000%   5/1/28        500        515
15 Lake Orion Community School District GO 4.000%   5/1/29        675        699
4,15 L'Anse Creuse Public Schools GO 5.000%   5/1/27        100        105
4,15 L'Anse Creuse Public Schools GO 5.000%   5/1/28         60         64
4,15 L'Anse Creuse Public Schools GO 5.000%   5/1/29        100        108
4,15 L'Anse Creuse Public Schools GO 5.000%   5/1/30         85         93
4,15 L'Anse Creuse Public Schools GO 5.000%   5/1/31        200        222
4,15 L'Anse Creuse Public Schools GO 5.000%   5/1/32        190        214
4,15 L'Anse Creuse Public Schools GO 5.000%   5/1/33        225        255
3 Livonia Public Schools GO 5.000%   5/1/29        525        566
3 Livonia Public Schools GO 5.000%   5/1/30      1,050      1,148
  Michigan Appropriations Revenue GAN 5.000%  3/15/25     22,320     22,375
  Michigan Finance Authority College & University Revenue 4.000%   2/1/27        105        104
  Michigan Finance Authority College & University Revenue (Kettering University Project) 5.000%   9/1/25        225        225
  Michigan Finance Authority College & University Revenue (Kettering University Project) 5.000%   9/1/26        480        483
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/25        510        510
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/25      3,375      3,389
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/25      1,365      1,368
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      4,250      4,323
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/26        600        612
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/26      4,275      4,376
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/26      1,870      1,887
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      1,250      1,296
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.500%  12/1/26      2,125      2,141
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/27      3,915      4,089
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/28      4,085      4,338
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/31/28      2,000      2,100
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/28      1,790      1,868
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.500%  12/1/28      1,450      1,461
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/29      4,605      4,961
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/31/29      2,175      2,307
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/29      1,000      1,042
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/31/30      2,810      3,006
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/30      1,000      1,032
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   2/1/25     18,150     18,150
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue PUT 3.750%  5/15/26     25,440     25,534
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000% 11/16/26      9,535      9,757
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue PUT 3.625%  12/1/27     45,000     45,790
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue PUT 1.200%  4/13/28      8,170      7,581
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue PUT 1.200%  4/13/28     10,480      9,694
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  12/1/28      8,200      8,661
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue, ETM 5.000% 11/15/25      1,220      1,239
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue, ETM 5.000% 11/15/29      2,965      3,226
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue, ETM 5.000% 11/15/30      3,115      3,438
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%  5/15/25      1,250      1,257
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%  5/15/25      4,670      4,697
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%  5/15/25      3,015      3,033
2 Michigan Finance Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.900% 3.150%  12/1/39      5,500      5,492
15 Michigan Finance Authority Intergovernmental Agreement Revenue 5.000%   5/1/25      1,315      1,322
  Michigan Finance Authority Intergovernmental Agreement Revenue 5.000%  11/1/25        305        310
  Michigan Finance Authority Intergovernmental Agreement Revenue 5.000%  11/1/26        500        518
  Michigan Finance Authority Intergovernmental Agreement Revenue (Charter County of Wayne Criminal Justice Center Project) 5.000%  11/1/25      1,030      1,046
4,5 Michigan Finance Authority Revenue PUT 3.875%   2/1/28     12,000     12,038
  Michigan Finance Authority Revenue PUT 3.750%  12/1/38     15,000     15,354
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Michigan Finance Authority Sewer Revenue (Local Government Loan Program) 5.000%   7/1/34      2,000      2,011
  Michigan Finance Authority Sewer Revenue (Local Government Loan Program) 5.000%   7/1/35      4,300      4,323
  Michigan Finance Authority Tobacco Settlement Funded Revenue 5.000%   6/1/26      3,160      3,214
  Michigan Finance Authority Tobacco Settlement Funded Revenue 5.000%   6/1/27      3,200      3,298
  Michigan Finance Authority Tobacco Settlement Funded Revenue 5.000%   6/1/29      3,450      3,637
  Michigan Finance Authority Water Revenue (Local Government Loan Program) 5.000%   7/1/29      1,000      1,007
  Michigan Finance Authority Water Revenue (Local Government Loan Program) 5.000%   7/1/34      1,800      1,810
  Michigan State Building Authority Lease (Appropriation) Revenue 5.000% 10/15/32      4,165      4,286
  Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) 5.000% 10/15/27      3,500      3,695
  Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) 5.000% 10/15/28      2,700      2,900
  Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) 5.000% 10/15/29      5,000      5,458
  Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) 5.000%  4/15/33      3,750      3,793
  Michigan State Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      1,540      1,567
  Michigan State Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/26      4,000      4,148
  Michigan State Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/27      3,375      3,551
  Michigan State Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/30      1,825      1,914
  Michigan State Hospital Finance Authority Health, Hospital, Nursing Home Revenue 4.000% 11/15/32      1,345      1,364
  Michigan State Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/32      1,355      1,414
  Michigan State Hospital Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%  5/15/25      4,975      5,001
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 3.750%   4/1/27      8,720      8,706
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 3.700%   4/1/30     28,000     28,088
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 5.000%  12/1/31      1,500      1,633
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 4.000%   6/1/46        615        616
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 3.500%   6/1/48      2,375      2,367
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 4.000%  12/1/48        760        762
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 4.250%   6/1/49     11,440     11,519
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 4.250%  12/1/49      7,310      7,370
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 3.500%  12/1/50      7,055      7,003
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 3.000%   6/1/51     13,315     13,062
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 5.000%   6/1/53     12,185     12,637
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 5.500%   6/1/53     16,070     16,921
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 5.500%  12/1/53     15,270     16,360
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 5.750%   6/1/54     19,030     20,337
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 6.000%   6/1/54      5,135      5,562
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue 6.250%   6/1/55     12,340     13,622
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue (Beacon Hill Apartments Project) PUT 5.000%   2/1/25      6,420      6,420
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue (Clark Road Family Apartments) PUT 4.500%   4/1/26      1,175      1,188
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue (Midblock Apartments Project) PUT 5.000%   3/1/28     18,000     18,861
8 Michigan State Housing Development Authority Local or Guaranteed Housing Revenue PUT 5.000%   6/1/25      9,000      9,051
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue PUT 4.500%   4/1/26      1,600      1,612
8 Michigan State Housing Development Authority Local or Guaranteed Housing Revenue PUT 5.000%   5/1/26      6,311      6,450
8 Michigan State Housing Development Authority Local or Guaranteed Housing Revenue PUT 5.000%   6/1/26      8,500      8,671
  Michigan State Housing Development Authority Local or Guaranteed Housing Revenue PUT 3.625%   4/1/27      3,875      3,899
  Michigan State University College & University Revenue 3.500%  8/15/30      5,845      5,794
  Michigan Strategic Fund Lease Revenue (Michigan Senate Offices Project) 5.000% 10/15/32      1,805      1,828
15 Milan Area Schools GO 5.000%   5/1/26      2,010      2,062
  Northern Michigan University College & University Revenue 5.000%  12/1/25      1,415      1,439
  Northern Michigan University College & University Revenue 5.000%   6/1/26        500        513
  Northern Michigan University College & University Revenue 5.000%   6/1/27        300        313
15 Northview Public Schools GO 5.000%  11/1/27      1,035      1,086
  Oakland University College & University Revenue 5.000%   3/1/26      1,255      1,282
  Oakland University College & University Revenue 5.000%   3/1/27        905        941
  Oakland University College & University Revenue 5.000%   3/1/28        800        847
  Oakland University College & University Revenue 5.000%   3/1/29      1,000      1,074
  Oakland University College & University Revenue 5.000%   3/1/30      1,000      1,088
  Plymouth-Canton Community School District GO 3.000%   5/1/25      2,725      2,724
  Plymouth-Canton Community School District GO 3.000%   5/1/26      6,340      6,332
  Plymouth-Canton Community School District GO 3.000%   5/1/27      3,275      3,264
15 Romulus Community Schools GO 4.000%   5/1/25        740        742
  Saginaw Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        725        729
  Saginaw Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,000      1,021
  Saginaw Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,000      1,035
  Saginaw Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,000      1,047
  Washtenaw County Intermediate School District GO 5.000%   5/1/27      4,360      4,563
15 Wayne-Westland Community Schools GO 4.000%   5/1/25        500        501
3 Western Michigan University College & University Revenue 5.000% 11/15/26        235        243
3 Western Michigan University College & University Revenue 5.000% 11/15/26        525        542
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
3 Western Michigan University College & University Revenue 5.000% 11/15/27        150        158
3 Western Michigan University College & University Revenue 5.000% 11/15/27        475        499
3 Western Michigan University College & University Revenue 5.000% 11/15/28        150        160
3 Western Michigan University College & University Revenue 5.000% 11/15/28        400        426
                                     676,842
Minnesota (1.0%)
  Burnsville MN GO 2.750% 12/20/30        225        212
  Burnsville MN GO 2.950% 12/20/32      1,175      1,088
  Chaska MN GO 3.000%   2/1/30        220        211
  Chisago City MN GO 2.500%   2/1/30        375        351
  Duluth Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  6/15/25        325        326
  Duluth Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  6/15/26        400        409
  Duluth Economic Development Authority Health, Hospital, Nursing Home Revenue 3.000%   7/1/26        360        352
  Duluth Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  6/15/27        375        390
  Duluth Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  6/15/28        500        528
  Duluth Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  6/15/29        250        268
  Duluth Independent School District No. 709 COP 5.000%   2/1/26        400        408
  Duluth Independent School District No. 709 COP 4.000%   2/1/27        600        605
  Faribault MN GO 2.750% 12/15/30        320        303
  Lake Elmo MN GO 3.000%   2/1/25      1,170      1,170
  Lake Elmo MN GO 3.000%   2/1/26      1,195      1,195
  Lake Elmo MN GO 3.000%   2/1/27      1,230      1,229
  Lake Elmo MN GO 3.000%   2/1/28      1,270      1,265
  Lake Elmo MN GO 3.000%   2/1/29      1,295      1,287
  Maple Grove MN Health, Hospital, Nursing Home Revenue 5.000%   5/1/26      1,350      1,369
  Maple Grove MN Health, Hospital, Nursing Home Revenue 5.000%   5/1/27      1,230      1,262
  Metropolitan Council GO 5.000%   3/1/25      2,250      2,254
  Minneapolis MN Health, Hospital, Nursing Home Revenue 5.000% 11/15/28      1,380      1,393
  Minneapolis MN Health, Hospital, Nursing Home Revenue 5.000% 11/15/29      1,000      1,009
  Minneapolis MN Health, Hospital, Nursing Home Revenue 5.000% 11/15/33      2,225      2,240
  Minneapolis MN Health, Hospital, Nursing Home Revenue 5.000% 11/15/33      1,395      1,446
  Minneapolis MN Health, Hospital, Nursing Home Revenue 5.000% 11/15/34        525        528
  Minneapolis MN Health, Hospital, Nursing Home Revenue 5.000% 11/15/35      1,000      1,033
  Minneapolis MN Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/28     31,430     33,252
  Minneapolis MN Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/30     36,120     38,701
  Minneapolis MN St. Paul Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/25      3,320      3,361
  Minneapolis MN St. Paul Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      1,910      1,973
  Minneapolis MN St. Paul Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        565        584
  Minneapolis MN St. Paul Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      1,000      1,041
  Minneapolis-St. Paul Metropolitan Airports Commission Port, Airport & Marina Revenue 5.000%   1/1/29      1,285      1,381
  Minnesota GO 5.000%   8/1/29     22,710     24,861
  Minnesota GO 4.000%   8/1/31      2,000      2,007
  Minnesota GO 5.000%   8/1/34     13,000     13,098
  Minnesota Higher Education Facilities Authority College & University Revenue 5.000%  10/1/25        250        253
  Minnesota Higher Education Facilities Authority College & University Revenue 5.000%  10/1/26        300        309
  Minnesota Higher Education Facilities Authority College & University Revenue 5.000%  10/1/29        765        798
  Minnesota Higher Education Facilities Authority College & University Revenue PUT 5.000%  10/1/27      1,875      1,943
  Minnesota Higher Education Facilities Authority College & University Revenue PUT 5.000%  10/1/29      1,835      1,956
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%   7/1/47        815        816
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%   1/1/48      1,745      1,750
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 4.250%   7/1/49      4,060      4,100
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 3.500%   7/1/50      2,690      2,670
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 3.500%   7/1/50      1,452      1,442
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 3.500%   7/1/52      3,965      3,925
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 6.000%   1/1/53      2,045      2,184
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 5.500%   7/1/53      3,305      3,483
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 6.000%   7/1/53      1,140      1,229
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 6.250%   7/1/54      3,350      3,650
  Minnesota Housing Finance Agency Local or Guaranteed Housing Revenue 6.250%   1/1/55      1,590      1,782
  Minnesota Municipal Gas Agency Natural Gas Revenue 4.000%  12/1/25      1,485      1,493
  Minnesota Municipal Gas Agency Natural Gas Revenue PUT 4.000%  12/1/27     45,495     46,067
2 Minnesota Municipal Gas Agency Natural Gas Revenue, 67% of SOFR + 1.000% 3.915%  12/1/52     18,000     18,085
  Minnesota Municipal Power Agency Electric Power & Light Revenue 4.000%  10/1/33      2,155      2,156
  Mora Independent School District No. 332 GO 2.500%   2/1/30        340        316
  Mounds View MN Local or Guaranteed Housing Revenue (Sibley Court Project) PUT 3.375%   3/1/28     13,500     13,498
  Mountain Iron-Buhl Independent School District No. 712 GO 4.000%   2/1/32      1,680      1,694
  North Mankato MN GO 2.650%  12/1/29        385        365
  Northern Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/29      1,800      1,920
  Prior Lake MN GO 3.000% 12/15/30        685        659
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Red Rock Central Independent School District No. 2884 GO 4.000%   2/1/29      1,350      1,399
  South Washington County MN Independent School District No. 833 GO 4.000%   2/1/31      2,750      2,776
  St. Cloud MN Health, Hospital, Nursing Home Revenue 5.000%   5/1/29      1,060      1,083
  St. Cloud MN Health, Hospital, Nursing Home Revenue 5.000%   5/1/31      3,000      3,062
  St. Louis Park MN GO 2.500%   2/1/30        725        676
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/25        800        808
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      1,895      1,944
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      5,050      5,078
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      4,000      4,022
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,000      1,005
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/30      1,800      1,857
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      4,825      4,849
  St. Paul Minnesota Housing & Redevelopment Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/33      2,950      2,964
  Watertown-Mayer Independent School District No. 111 GO 0.000%   2/1/28      2,020      1,802
                                     296,258
Mississippi (0.5%)
  Gulfport MS Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      3,195      3,244
  Harrison County School District GO 4.000%   6/1/25      2,175      2,182
  Lowndes County MS Industrial Revenue PUT 2.650%   4/1/27     13,835     13,597
  Mississippi Business Finance Corp. Resource Recovery Revenue (Waste Management Inc. Project) PUT 0.700%   9/1/26      1,625      1,543
  Mississippi Business Finance Corp. Water Revenue 3.200%   9/1/28      1,000        994
  Mississippi Development Bank Intergovernmental Agreement Revenue (Desoto County Mississippi Highway Refunding Project) 5.000%   1/1/28      1,605      1,696
  Mississippi Development Bank Intergovernmental Agreement Revenue (Desoto County Mississippi Highway Refunding Project) 5.000%   1/1/29      4,455      4,791
  Mississippi Development Bank Intergovernmental Agreement Revenue (Desoto County Mississippi Highway Refunding Project) 5.000%   1/1/30      3,410      3,718
  Mississippi Development Bank Intergovernmental Agreement Revenue (Desoto County Mississippi Highway Refunding Project) 5.000%   1/1/31      2,410      2,660
  Mississippi Development Bank Special Obligation Revenue 5.000%   8/1/25      1,015      1,025
  Mississippi Development Bank Special Obligation Revenue 5.000%   8/1/26      2,025      2,080
  Mississippi Development Bank Special Obligation Revenue 5.000%   1/1/28        500        529
3 Mississippi Development Bank Special Obligation Revenue 4.000%  10/1/30      1,810      1,827
  Mississippi Development Bank Special Obligation Revenue 5.000%   1/1/31      2,895      3,195
  Mississippi Development Bank Special Obligation Revenue (Gulfport, Mississippi, General Obligation Public Improvement Project) 5.000%   9/1/25        255        258
  Mississippi Development Bank Special Obligation Revenue (Gulfport, Mississippi, General Obligation Public Improvement Project) 5.000%   9/1/26        225        231
  Mississippi Development Bank Special Obligation Revenue (Gulfport, Mississippi, General Obligation Public Improvement Project) 5.000%   9/1/27        400        417
  Mississippi Development Bank Special Obligation Revenue (Gulfport, Mississippi, General Obligation Public Improvement Project) 5.000%   9/1/28        315        333
  Mississippi Development Bank Special Obligation Revenue (Harrison County, Mississippi Highway Refunding Project) 5.000%   1/1/28      1,450      1,533
  Mississippi Development Bank Special Obligation Revenue (Harrison County, Mississippi Highway Refunding Project) 5.000%   1/1/29      3,000      3,226
  Mississippi Development Bank Special Obligation Revenue (Harrison County, Mississippi Highway Refunding Project) 5.000%   1/1/30      3,000      3,271
  Mississippi Development Bank Special Obligation Revenue (Harrison County, Mississippi Highway Refunding Project) 5.000%   1/1/31      5,000      5,519
  Mississippi Development Bank Special Obligation Revenue (Jackson Public School District Project) 5.000%   4/1/26      1,075      1,098
5 Mississippi Development Bank Special Obligation Revenue Health, Hospital, Nursing Home Revenue 5.000%  10/1/25        330        331
5 Mississippi Development Bank Special Obligation Revenue Health, Hospital, Nursing Home Revenue 5.000%  10/1/26        425        429
5 Mississippi Development Bank Special Obligation Revenue Health, Hospital, Nursing Home Revenue 5.000%  10/1/27        900        911
5 Mississippi Development Bank Special Obligation Revenue Health, Hospital, Nursing Home Revenue 5.000%  10/1/28        950        965
5 Mississippi Development Bank Special Obligation Revenue Health, Hospital, Nursing Home Revenue 5.000%  10/1/29      1,000      1,018
  Mississippi Gaming Tax Miscellaneous Taxes Revenue 5.000% 10/15/26        200        207
  Mississippi Gaming Tax Miscellaneous Taxes Revenue 5.000% 10/15/27      1,345      1,360
  Mississippi Gaming Tax Miscellaneous Taxes Revenue 5.000% 10/15/28      1,255      1,268
  Mississippi Gaming Tax Miscellaneous Taxes Revenue 5.000% 10/15/30      5,065      5,113
  Mississippi Gaming Tax Miscellaneous Taxes Revenue 5.000% 10/15/31      4,900      4,942
  Mississippi Gaming Tax Miscellaneous Taxes Revenue 5.000% 10/15/32      1,000      1,050
  Mississippi GO, Prere. 5.000%  11/1/26      2,840      2,949
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 5.000%  12/1/25        675        687
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 5.000%  12/1/26        710        738
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 5.000%  12/1/27        730        771
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 5.000%  12/1/28        755        807
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.300%  12/1/29        515        515
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.450%   6/1/30      1,065      1,059
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.450%  12/1/30      1,010      1,003
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.550%   6/1/31        500        499
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.550%  12/1/31        575        572
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.650%   6/1/32      1,145      1,142
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.650%  12/1/32        730        726
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 3.000%  12/1/50      1,155      1,133
  Mississippi Home Corp. Local or Guaranteed Housing Revenue 5.000%  12/1/52      4,300      4,450
  Mississippi Home Corp. Local or Guaranteed Housing Revenue (Brookville Gardens Project) PUT 5.000%   5/1/25      5,700      5,724
  Mississippi Hospital Equipment & Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/25        600        607
  Mississippi Hospital Equipment & Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/26        725        744
  Mississippi Hospital Equipment & Facilities Authority Health, Hospital, Nursing Home Revenue (Forrest County General Hospital Project) 5.000%   1/1/26      1,515      1,536
  Mississippi Hospital Equipment & Facilities Authority Health, Hospital, Nursing Home Revenue (Forrest County General Hospital Refunding Project) 5.000%   1/1/30        345        367
  Mississippi Hospital Equipment & Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   9/1/25     11,785     11,833
  Mississippi Hospital Equipment & Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   3/1/27     11,860     12,236
  Mississippi State University Educational Building Corp. College & University Revenue 5.000%   8/1/29      3,560      3,866
  Mississippi State University Educational Building Corp. College & University Revenue 5.000%   8/1/30      2,540      2,797
  Mississippi Tobacco & Liquor Taxes Revenue (ABC Warehouse Construction Project) 5.000%  10/1/28        250        268
  Mississippi Tobacco & Liquor Taxes Revenue (ABC Warehouse Construction Project) 5.000%  10/1/29        165        179
  Mississippi Tobacco & Liquor Taxes Revenue (ABC Warehouse Construction Project) 5.000%  10/1/30        300        331
  Mississippi Tobacco & Liquor Taxes Revenue (ABC Warehouse Construction Project) 5.000%  10/1/31        250        279
  University of Southern Mississippi College & University Revenue (Facilities Refinancing Project) 4.000%   3/1/33      2,095      2,119
                                     136,498
Missouri (1.3%)
  Boone County MO Health, Hospital, Nursing Home Revenue 5.000%   8/1/25        510        505
  Branson IDA Tax Increment/Allocation Revenue 4.000%  11/1/25      1,440      1,438
  Brentwood MO COP 4.000%  10/1/25        210        211
  Brentwood MO COP 4.000%  10/1/26        215        219
  Brentwood MO COP 4.000%  10/1/27        270        275
  Cape Girardeau County IDA Health, Hospital, Nursing Home Revenue 5.000%   3/1/25      1,450      1,451
  Cape Girardeau County IDA Health, Hospital, Nursing Home Revenue 5.000%   6/1/27      3,620      3,767
  Cape Girardeau County IDA Health, Hospital, Nursing Home Revenue 5.000%   3/1/28      1,400      1,447
  Cape Girardeau County IDA Health, Hospital, Nursing Home Revenue 5.000%   6/1/28      3,625      3,826
  Cape Girardeau County IDA Health, Hospital, Nursing Home Revenue 5.000%   3/1/29      1,000      1,033
  Cape Girardeau County IDA Health, Hospital, Nursing Home Revenue 5.000%   6/1/29      3,840      4,102
  Center MO School District No. 58 GO 4.000%   3/1/31      1,025      1,042
  Fort Osage School District No. R-1 COP 2.750%   4/1/27     19,255     18,926
  Franklin County MO COP 4.000%   4/1/25        990        992
  Franklin County MO COP 4.000%  11/1/25        455        458
  Franklin County MO COP 4.000%   4/1/26      1,035      1,046
  Franklin County MO COP 4.000%  11/1/26        475        483
  Jackson County MO Special Obligation Revenue (Truman Sports Complex Project) 5.000%  12/1/25      2,475      2,479
  Jackson County MO Special Obligation Revenue (Truman Sports Complex Project) 5.000%  12/1/28      5,500      5,508
  Jackson County MO Special Obligation Revenue (Truman Sports Complex Project) 5.000%  12/1/29      4,000      4,006
  Joplin IDA Health, Hospital, Nursing Home Revenue 5.000%  2/15/25        575        575
  Joplin IDA Health, Hospital, Nursing Home Revenue 5.000%  2/15/27      1,065      1,105
  Joplin IDA Health, Hospital, Nursing Home Revenue 5.000%  2/15/28      1,170      1,234
  Joplin IDA Health, Hospital, Nursing Home Revenue 5.000%  2/15/29      1,200      1,284
  Joplin IDA Health, Hospital, Nursing Home Revenue 5.000%  2/15/30      1,585      1,712
  Joplin IDA Health, Hospital, Nursing Home Revenue 5.000%  2/15/31      1,000      1,088
  Joplin IDA Health, Hospital, Nursing Home Revenue 5.000%  2/15/32      2,840      3,105
  Kansas City MO Special Obligation Revenue (Kansas City Missouri Project) 5.000%   4/1/27      1,125      1,174
  Kansas City MO Special Obligation Revenue (Kansas City Missouri Project) 5.000%   4/1/28      1,200      1,275
  Kansas City MO Special Obligation Revenue (Kansas City Missouri Project) 5.000%   4/1/29      1,000      1,078
  Kansas City MO Special Obligation Revenue (Kansas City Missouri Project) 5.000%   4/1/30      1,350      1,475
  Kansas City MO Special Obligation Revenue (Main StreetCar Extension Program) 5.000%   9/1/25        500        506
  Kansas City MO Special Obligation Revenue (Main StreetCar Extension Program) 5.000%   9/1/26        650        670
  Kansas City MO Special Obligation Revenue (Main StreetCar Extension Program) 5.000%   9/1/27      1,780      1,869
  Kansas City MO Special Obligation Revenue (Main StreetCar Extension Program) 5.000%   9/1/29      2,235      2,418
  Kansas City Planned Industrial Expansion Authority Local or Guaranteed Housing Revenue PUT 5.000%   7/1/27      2,270      2,339
  Ladue School District GO 3.000%   3/1/28      4,000      4,004
  Ladue School District GO 3.000%   3/1/29      2,950      2,947
  Lindbergh School District GO 0.000%   3/1/28      2,000      1,816
  Metropolitan St. Louis Sewer District Sewer Revenue 5.000%   5/1/25      1,680      1,689
  Metropolitan St. Louis Sewer District Sewer Revenue 5.000%   5/1/26      3,460      3,555
  Metropolitan St. Louis Sewer District Sewer Revenue 5.000%   5/1/27      3,555      3,729
  Metropolitan St. Louis Sewer District Sewer Revenue 5.000%   5/1/30      4,080      4,498
  Metropolitan St. Louis Sewer District Sewer Revenue 5.000%   5/1/31     11,260     12,606
5 Missouri Development Finance Board Intergovernmental Agreement Revenue TOB VRDO 2.400%   2/6/25      4,315      4,315
  Missouri Health & Educational Facilities Authority College & University Revenue 5.000%  10/1/25      1,225      1,242
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
5 Missouri Health & Educational Facilities Authority Health Facilities Health, Hospital, Nursing Home Revenue TOB VRDO 2.400%   2/6/25      5,255      5,255
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/25      1,500      1,501
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/26      1,200      1,230
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        750        778
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/26        555        573
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/27        250        256
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/27      1,690      1,762
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/27        150        158
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      2,740      2,811
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/28        515        534
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/28     10,645     11,297
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/28      2,555      2,703
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/28      1,225      1,267
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/28        510        544
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/29        650        679
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/29      1,100      1,174
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/29      2,875      3,081
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/29      1,655      1,724
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/29      1,200      1,214
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/30      1,325      1,389
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/30      1,000      1,011
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/31      2,495      2,512
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/32      1,000      1,056
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/32      3,750      3,788
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/33      2,990      3,170
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/33      2,000      2,008
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/34      2,500      2,502
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue (Lutheran Senior Services Project) 5.000%   2/1/25        500        500
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue (Lutheran Senior Services Project) 5.000%   2/1/27        760        782
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue (Lutheran Senior Services Project) 5.000%   2/1/29        550        567
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue (Lutheran Senior Services Project) 5.000%   2/1/29        595        625
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue (Lutheran Senior Services Project) 5.000%   2/1/32      1,185      1,195
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 4.000%   5/1/26     53,155     53,798
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   5/1/28     37,699     39,747
  Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   6/1/28     16,170     16,990
5 Missouri Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.050%   2/3/25      5,800      5,800
  Missouri Housing Development Commission Local or Guaranteed Housing Revenue (Home Ownership Loan Program) 4.750%   5/1/49      2,905      2,952
  Missouri Housing Development Commission Local or Guaranteed Housing Revenue (Home Ownership Loan Program) 3.500%  11/1/50      1,380      1,371
  Missouri Housing Development Commission Local or Guaranteed Housing Revenue (Home Ownership Loan Program) 3.250%   5/1/51      2,430      2,395
  Missouri Housing Development Commission Local or Guaranteed Housing Revenue (Home Ownership Loan Program) 3.500%   5/1/52      4,610      4,571
  Missouri Housing Development Commission Local or Guaranteed Housing Revenue (Home Ownership Loan Program) 5.000%   5/1/53      3,660      3,785
  Missouri Housing Development Commission Local or Guaranteed Housing Revenue (Home Ownership Loan Program) 5.750%   5/1/53      2,865      3,040
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue 4.000%  12/1/32      1,500      1,516
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Plum Point Project) 5.000%   1/1/27      1,080      1,119
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Plum Point Project) 5.000%   1/1/28      1,325      1,397
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Plum Point Project) 5.000%   1/1/29      2,750      2,937
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Plum Point Project) 5.000%   1/1/30      2,000      2,168
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Plum Point Project) 5.000%   1/1/31      2,550      2,796
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Plum Point Project) 5.000%   1/1/32      1,640      1,816
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Prairie State Project) 5.000%   6/1/26      3,865      3,887
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Prairie State Project) 5.000%   1/1/28      1,590      1,681
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Prairie State Project) 5.000%   6/1/28      1,355      1,364
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Prairie State Project) 5.000%  12/1/29      3,435      3,457
  Missouri Joint Municipal Electric Utility Commission Electric Power & Light Revenue (Prairie State Project) 5.000%  12/1/31      5,140      5,170
  North Kansas City School District No. 74 GO 3.000%   3/1/30      1,610      1,556
  Pattonville R-3 School District GO 4.000%   3/1/30      1,195      1,208
5 Poplar Bluff MO Tax Increment/Allocation Revenue 5.125%  11/1/35      3,315      3,315
  Raymore MO Tax Increment/Allocation Revenue (Raymore Galleria Project) 5.375%   5/1/28      1,660      1,660
1 Southeast Missouri State University College & University Revenue 3.000%   4/1/25      1,025      1,025
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 Southeast Missouri State University College & University Revenue 3.000%   4/1/26      1,055      1,052
  Southeast Missouri State University Local or Guaranteed Housing Revenue 5.000%   4/1/28        750        789
  Southeast Missouri State University Local or Guaranteed Housing Revenue 5.000%   4/1/29      2,470      2,629
  Springfield MO Public Utility Multiple Utility Revenue 3.500%   8/1/28      1,000      1,000
  Springfield MO Public Utility Multiple Utility Revenue 3.600%   8/1/29      8,820      8,827
  Springfield MO Public Utility Multiple Utility Revenue 4.000%   8/1/31      4,230      4,242
  Springfield MO Public Utility Multiple Utility Revenue 4.000%   8/1/35     10,000      9,985
  Springfield MO Special Obligation Revenue 4.000%   5/1/27        705        705
  St. Charles County School District No. R-IV Wentzville COP 4.000%   4/1/32      1,810      1,810
  St. Louis County IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/26      1,000      1,012
  St. Louis County IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/27        655        663
  St. Louis County IDA Health, Hospital, Nursing Home Revenue 5.000%   9/1/28        630        646
  St. Louis County IDA Health, Hospital, Nursing Home Revenue (Jordan Project) 5.000% 11/15/25        800        801
4,8 St. Louis Missouri IDA Local or Guaranteed Housing Revenue PUT 3.500%   2/1/26      7,570      7,570
  St. Louis MO Airport Port, Airport & Marina Revenue 5.000%   7/1/25      1,440      1,452
  St. Louis MO Airport Port, Airport & Marina Revenue 5.000%   7/1/26      1,500      1,543
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue 0.000%  7/15/25      1,335      1,314
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue 0.000%  7/15/26      1,335      1,267
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue 0.000%  7/15/27      1,335      1,221
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue 0.000%  7/15/28      1,515      1,333
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue 0.000%  7/15/29      1,515      1,282
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue 0.000%  7/15/30      1,515      1,231
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue (Conventional Center Projects) 0.000%  7/15/25      1,155      1,137
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue (Conventional Center Projects) 0.000%  7/15/26      1,155      1,096
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue (Conventional Center Projects) 0.000%  7/15/27      1,155      1,056
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue (Conventional Center Projects) 0.000%  7/15/28      1,310      1,153
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue (Conventional Center Projects) 0.000%  7/15/29      1,310      1,108
5,11 St. Louis Municipal Finance Corp. Hotel Occupancy Tax Revenue (Conventional Center Projects) 0.000%  7/15/30      1,310      1,064
3 St. Louis Municipal Finance Corp. Lease (Appropriation) Revenue (Convention Center Capital Improvement Project) 0.000%  7/15/31      1,785      1,399
                                     409,076
Montana (0.2%)
  Forsyth MT Industrial Revenue (Northwestern Corp. Colstrip Project) 3.875%   7/1/28     14,745     14,944
  Forsyth MT Industrial Revenue (Puget Sound Energy Project) 3.900%   3/1/31     30,150     29,982
  Lewis & Clark County MT School District No. 1 GO 5.000%   7/1/25        375        378
  Missoula MT Water System Water Revenue 5.000%   7/1/31      1,740      1,844
8 Montana Board of Housing Local or Guaranteed Housing Revenue (South Forty Apartments Project) PUT 5.000%   5/1/25      2,445      2,455
  Montana Board of Housing Local or Guaranteed Housing Revenue PUT 3.320%   2/1/28      1,835      1,826
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/25        380        382
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/29      3,200      3,300
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/29        620        666
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/30      3,600      3,709
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/30      1,275      1,388
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/31      1,500      1,545
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/32      1,000      1,028
  Montana Facility Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/33      1,320      1,355
                                      64,802
Multiple States (1.1%)
2,5,16 FHLMC Multifamily Certificates Local or Guaranteed Housing Revenue, SIFMA Municipal Swap Index Yield + 0.230% 5.190%  6/15/35      5,560      5,560
16 Freddie Mac Multifamily Certificates Local or Guaranteed Housing Revenue 2.875%  7/25/36     11,818     10,514
  National Finance Authority Affordable Housing Certificates 4.150% 10/20/40      1,480      1,448
  Nuveen AMT-Free Municipal Credit Income Fund VRDO VRDP 2.700%   2/3/25     55,060     55,060
  Nuveen AMT-Free Municipal Credit Income Fund VRDO VRDP 2.700%   2/3/25    127,700    127,700
  Nuveen AMT-Free Quality Municipal Income Fund VRDO VRDP 2.700%   2/3/25    110,740    110,740
5 Nuveen AMT-Free Quality Municipal Income Fund VRDO VRDP 2.350%   2/6/25     35,500     35,500
                                     346,522
Nebraska (1.1%)
  Central Plains Energy Project Natural Gas Revenue (Project No. 3) 5.000%   9/1/25      6,350      6,403
  Central Plains Energy Project Natural Gas Revenue (Project No. 3) 5.000%   9/1/26        880        898
  Central Plains Energy Project Natural Gas Revenue (Project No. 3) 5.000%   9/1/27      1,425      1,470
  Central Plains Energy Project Natural Gas Revenue (Project No. 3) 5.000%   9/1/28         50         52
  Central Plains Energy Project Natural Gas Revenue (Project No. 3) 5.000%   9/1/30      9,375      9,936
  Central Plains Energy Project Natural Gas Revenue (Project No. 4) PUT 5.000%  11/1/29     78,395     82,090
  Central Plains Energy Project Natural Gas Revenue (Project No. 5) PUT 5.000%  10/1/29     34,240     35,695
  Central Plains Energy Project Natural Gas Revenue PUT 2.500%   8/1/25      1,650      1,635
17 Central Plains Energy Project Natural Gas Revenue PUT 4.000%   8/1/25    120,535    120,809
  Douglas County Hospital Authority No. 2 Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        800        824
  Douglas County Hospital Authority No. 2 Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/25      1,100      1,110
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Douglas County Hospital Authority No. 3 Health, Hospital, Nursing Home Revenue 5.000%  11/1/29        900        910
2 Douglas County NE College & University Revenue (Creighton University Projects), SIFMA Municipal Swap Index Yield + 0.530% 2.780%   7/1/35      9,925      9,823
  Gretna Public Schools GO 5.000% 12/15/27      3,495      3,559
  Lancaster County School District 001 GO 4.000%  1/15/32      1,315      1,330
  Lincoln NE Local or Guaranteed Housing Revenue PUT 3.370%   7/1/28      1,950      1,945
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 5.000%   9/1/26      1,190      1,231
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 5.000%   3/1/27      1,815      1,890
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 5.000%   9/1/27      1,695      1,781
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 5.000%   9/1/28        605        644
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 1.950%   3/1/29      1,710      1,562
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 4.000%   9/1/44        120        120
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 3.000%   9/1/45      4,515      4,419
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 3.500%   9/1/45        505        504
  Nebraska Investment Finance Authority Local or Guaranteed Housing Revenue 3.000%   3/1/52      1,430      1,391
  Nebraska Municipal Energy Agency Electric Power & Light Revenue 5.000%   4/1/27      1,000      1,043
  Nebraska Municipal Energy Agency Electric Power & Light Revenue 5.000%   4/1/28      1,000      1,060
  Nebraska Municipal Energy Agency Electric Power & Light Revenue 5.000%   4/1/29      1,450      1,558
  Nebraska Public Power District Electric Power & Light Revenue 5.000%   1/1/27      3,490      3,496
  Nebraska Public Power District Electric Power & Light Revenue 5.000%   7/1/28      5,960      6,324
  Nebraska Public Power District Electric Power & Light Revenue 5.000%   1/1/31      1,530      1,556
  Omaha NE GO 5.000%  4/15/27      1,100      1,152
  Omaha NE GO 5.000%  4/15/28      1,225      1,307
  Omaha NE GO 6.000%  4/15/29      1,375      1,549
  Omaha Public Power District Electric Power & Light Revenue 4.000%   2/1/33      1,450      1,450
  Public Power Generation Agency Electric Power & Light Revenue 5.000%   1/1/28      2,165      2,288
  Public Power Generation Agency Electric Power & Light Revenue 5.000%   1/1/29      4,000      4,289
  Public Power Generation Agency Electric Power & Light Revenue 5.000%   1/1/30      3,500      3,812
  Public Power Generation Agency Electric Power & Light Revenue 5.000%   1/1/31      3,250      3,584
  Sarpy County NE GO 2.000%   6/1/28      2,295      2,163
                                     328,662
Nevada (0.5%)
  Carson City NV Health, Hospital, Nursing Home Revenue (Carson Tahoe Regional Healthcare Project) 5.000%   9/1/32        815        839
  Clark County NV Electric Power & Light Revenue (Nevada Power Co. Project) PUT 3.750%  3/31/26        795        795
  Clark County NV GO 5.000%  12/1/31      1,085      1,162
  Clark County NV GO 4.000%  11/1/34      1,275      1,276
  Clark County NV Passenger Facility Charge Port, Airport & Marina Revenue 5.000%   7/1/27      1,000      1,050
  Clark County School District GO 5.000%  6/15/26      6,930      7,049
  Clark County School District GO 5.000%  6/15/29      1,430      1,509
  Clark County School District GO 5.000%  6/15/29        780        793
3 Clark County School District GO 4.000%  6/15/33     10,390     10,534
  Clark County Water Reclamation District GO 4.000%   7/1/32      1,250      1,261
  Las Vegas Convention & Visitors Authority Hotel Occupancy Tax Revenue 5.000%   7/1/25        600        606
  Las Vegas Convention & Visitors Authority Hotel Occupancy Tax Revenue 5.000%   7/1/29        695        752
  Las Vegas Convention & Visitors Authority Hotel Occupancy Tax Revenue 5.000%   7/1/30        950      1,041
  Las Vegas Convention & Visitors Authority Hotel Occupancy Tax Revenue 5.000%   7/1/31      1,480      1,642
  Las Vegas Convention & Visitors Authority Hotel Occupancy Tax Revenue 4.000%   7/1/32      3,810      3,839
5 Las Vegas Convention & Visitors Authority Hotel Occupancy Tax Revenue TOB VRDO 2.330%   2/6/25      5,500      5,500
  Las Vegas NV Special Improvement District No. 812 Special Assessment Revenue 5.000%  12/1/28      1,320      1,334
  Las Vegas NV Special Improvement District No. 815 Special Assessment Revenue 4.000%  12/1/29        195        190
  Las Vegas NV Special Improvement District No. 815 Special Assessment Revenue 4.000%  12/1/30         95         91
  Las Vegas NV Special Improvement District No. 816 Special Assessment Revenue 2.000%   6/1/25        185        183
  Las Vegas NV Special Improvement District No. 816 Special Assessment Revenue 2.250%   6/1/27        250        234
  Las Vegas NV Special Improvement District No. 816 Special Assessment Revenue 2.500%   6/1/29        195        173
  Las Vegas Valley Water District GO 5.000%   6/1/31      2,430      2,493
  Las Vegas Valley Water District GO 5.000%   6/1/32      1,500      1,536
  Nevada GO (Nevada Municipal Bond Bank Project Nos. 87, 88 And 89) 4.000%   2/1/29      1,765      1,765
  Nevada Highway Improvement Fuel Sales Tax Revenue 4.000%  12/1/32      1,220      1,249
  Nevada Housing Division Local or Guaranteed Housing Revenue 5.000%  10/1/52      2,875      2,981
  Nevada Housing Division Local or Guaranteed Housing Revenue PUT 5.000%  10/1/25      6,679      6,756
  Nevada Housing Division Local or Guaranteed Housing Revenue PUT 5.000%   7/1/27        750        778
5 Nevada Housing Division Local or Guaranteed Housing Revenue TOB VRDO 2.070%   2/3/25     52,600     52,600
  Nevada System of Higher Education College & University Revenue 4.000%   7/1/32      3,765      3,770
3 North Las Vegas NV GO 5.000%   6/1/25      2,950      2,971
3 North Las Vegas NV GO 5.000%   6/1/26      3,095      3,183
  North Las Vegas NV Special Assessment Revenue 3.750%   6/1/25        140        140
  North Las Vegas NV Special Assessment Revenue 3.750%   6/1/26        175        175
5 North Las Vegas NV Special Assessment Revenue 5.000%   6/1/26        290        293
5 North Las Vegas NV Special Assessment Revenue 5.000%   6/1/27        200        204
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
5 North Las Vegas NV Special Assessment Revenue 5.000%   6/1/28        220        224
5 North Las Vegas NV Special Assessment Revenue 5.000%   6/1/29        330        337
5 North Las Vegas NV Special Assessment Revenue 5.000%   6/1/30        365        371
5 North Las Vegas NV Special Assessment Revenue 5.000%   6/1/31        245        249
5 North Las Vegas NV Special Assessment Revenue 5.000%   6/1/32        245        247
3 Reno NV Hotel Occupancy Tax Revenue 5.000%   6/1/25        500        503
3 Reno NV Hotel Occupancy Tax Revenue 5.000%   6/1/26        500        512
3 Reno NV Hotel Occupancy Tax Revenue 5.000%   6/1/27        700        730
  Reno NV Sales Tax Revenue 5.000%   6/1/25        485        488
  Reno Redevelopment Agency Tax Increment/Allocation Revenue 5.000%   6/1/27      1,715      1,715
  Washoe County NV Electric Power & Light Revenue (Sierra Pacific Power Co. Projects) PUT 3.625%  10/1/29      5,065      5,084
  Washoe County NV Electric Power & Light Revenue (Sierra Pacific Power Co. Projects) PUT 3.625%  10/1/29      1,000      1,004
  Washoe County NV School District GO 5.000%   6/1/27        125        126
  Washoe County NV School District GO 4.000%   6/1/31      1,825      1,858
                                     136,195
New Hampshire (0.3%)
  New Hampshire Business Finance Authority 4.125%  1/20/34      1,312      1,307
  New Hampshire Business Finance Authority College & University Revenue (Dickinson College Project) 5.000%  11/1/26        950        982
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/26        800        798
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26        850        872
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/27        995        991
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/27        650        678
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/28        575        571
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/28        750        793
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/29        895        887
  New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/29        500        535
5 New Hampshire Business Finance Authority Health, Hospital, Nursing Home Revenue 5.625% 12/15/33      2,725      2,780
5 New Hampshire Business Finance Authority Intergovernmental Agreement Revenue 5.375% 12/15/35     13,615     13,659
5 New Hampshire Business Finance Authority Intergovernmental Agreement Revenue (Caldwell Ranch Project) 4.875%  12/1/33        986        986
5 New Hampshire Business Finance Authority Intergovernmental Agreement Revenue (Easton Park Project) 5.625%   2/1/30      9,000      8,995
5 New Hampshire Business Finance Authority Intergovernmental Agreement Revenue (Tamarron Project) 5.250%  12/1/35      7,486      7,449
  New Hampshire Business Finance Authority Intergovernmental Agreement Revenue (The Highlands Project) 5.125% 12/15/30      2,150      2,135
5 New Hampshire Business Finance Authority Intergovernmental Agreement Revenue (Valencia Project) 5.300%  12/1/32      1,345      1,349
5 New Hampshire Business Finance Authority Miscellaneous Revenue (Silverado Project) 5.000%  12/1/28      3,620      3,620
  New Hampshire Health & Education Facilities Authority Act College & University Revenue PUT 3.300%   8/3/27      2,970      2,980
  New Hampshire Health & Education Facilities Authority Act College & University Revenue PUT 3.300%   8/3/27      2,840      2,850
  New Hampshire Health & Education Facilities Authority Act College & University Revenue PUT 3.300%   8/3/27      2,840      2,850
  New Hampshire Health & Education Facilities Authority Act College & University Revenue PUT 3.300%   8/3/27      2,780      2,790
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 4.000%  10/1/25      1,810      1,815
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 5.000%  10/1/26        575        591
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 5.000%  10/1/27        875        912
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 5.000%  10/1/28      1,185      1,251
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 5.000%  10/1/29      6,530      6,662
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 5.000%  10/1/29      1,240      1,323
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 5.000%  10/1/30      2,610      2,813
  New Hampshire Health & Education Facilities Authority Act Health, Hospital, Nursing Home Revenue 5.000%  10/1/31      2,740      2,981
8 New Hampshire Housing Finance Authority Local or Guaranteed Housing Revenue 3.800%   7/1/26      1,250      1,259
8 New Hampshire Housing Finance Authority Local or Guaranteed Housing Revenue 3.850%   1/1/27        900        909
8 New Hampshire Housing Finance Authority Local or Guaranteed Housing Revenue 3.200%   1/1/28      1,635      1,628
  New Hampshire Housing Finance Authority Local or Guaranteed Housing Revenue 6.000%   7/1/53      1,000      1,070
                                      84,071
New Jersey (4.5%)
1 Atlantic City NJ GO 5.000%   3/1/25        800        801
3 Atlantic City NJ GO 5.000%   3/1/25        750        751
3 Atlantic City NJ GO 5.000%   3/1/26      1,115      1,138
  Belleville Township NJ BAN GO 5.000%   7/8/25      7,461      7,509
1 Belleville Township NJ GO 3.000%   2/1/26      1,615      1,614
1 Belleville Township NJ GO 3.000%   2/1/27      1,665      1,662
  Bergen County NJ GO 2.000%   6/1/25        460        458
  Bergen County NJ GO 3.000%  12/1/25      3,865      3,866
  Bergen County NJ GO 3.000%  12/1/26      2,110      2,112
  Bergen County NJ GO 3.000%  12/1/32      1,750      1,704
1 Bridgeton NJ GO 3.000%   3/1/25        810        810
3 Buena Regional School District GO 2.000%   6/1/26      1,050      1,026
3 Buena Regional School District GO 2.000%   6/1/27      1,375      1,319
3 Buena Regional School District GO 2.000%   6/1/28      1,400      1,314
3 Buena Regional School District GO 2.000%   6/1/29      1,425      1,310
  Camden County Improvement Authority Lease (Appropriation) Revenue (Camden County College Program) 3.000%  1/15/26        500        500
  Camden County Improvement Authority Local or Guaranteed Housing Revenue PUT 5.000%   3/1/26      2,500      2,547
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/26        500        517
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/26        250        259
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/27        375        394
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/27        150        158
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/28        500        533
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/28        175        187
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/29        500        540
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/29        275        297
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/30        550        601
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/30        290        317
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/31        815        899
10 Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue 5.000%  11/1/31        320        353
  Cherry Hill Township School District GO 3.000%   8/1/30     11,805     11,724
3 Clifton Board of Education GO 2.000%  8/15/27      1,915      1,834
3 Clifton Board of Education GO 2.000%  8/15/28      2,975      2,780
3 Clifton Board of Education GO 2.000%  8/15/29      5,570      5,101
3 Clifton Board of Education GO 2.000%  8/15/30      5,985      5,369
  Dennis Township NJ BAN GO 4.000%  3/12/25      1,675      1,677
  Fanwood Borough NJ GO 4.250%  2/28/25      3,801      3,804
  Gloucester County Improvement Authority College & University Revenue (Rowan University General Capital Improvement Projects) 5.000%   7/1/30      3,910      3,941
3 Gloucester County Improvement Authority College & University Revenue (Rowan University Project) 5.000%  11/1/25      1,835      1,864
3 Gloucester County Improvement Authority College & University Revenue (Rowan University Project) 3.000%   7/1/29        250        245
  Gloucester County Improvement Authority Miscellaneous Revenue 4.000%   4/1/33      1,115      1,115
  Gloucester Township NJ BAN GO 4.000%  7/23/25     13,709     13,760
  Gloucester Township NJ BAN GO 4.250%  7/23/25      1,078      1,083
  Hamilton Township NJ BAN GO 5.000%  5/14/25      7,500      7,541
1 Hawthorne School District NJ GO 3.000%   9/1/31      1,350      1,333
  Hudson County NJ GO 3.000% 11/15/25      2,205      2,199
  Hudson County NJ GO 3.000% 11/15/26      3,960      3,951
  Hudson County NJ GO 3.000% 11/15/27      4,530      4,513
  Hudson County NJ GO 3.000% 11/15/28      9,000      8,943
  Jersey City Municipal Utilities Authority Sewer Revenue (Sewer Project) 5.000%   5/1/25      2,045      2,054
  Jersey City NJ BAN GO 4.500% 10/22/25      8,000      8,087
  Jersey City Redevelopment Agency Miscellaneous Revenue (Bayfront Redevelopment Project) 4.500% 12/11/25      4,750      4,797
  Maplewood Township NJ GO 3.000%   4/1/25      1,240      1,240
  Maplewood Township NJ GO 3.000%   4/1/26      1,195      1,196
  Mercer County NJ GO 4.000%   2/1/29      3,015      3,155
  Morris County NJ GO 3.000%   2/1/25      1,495      1,495
1 New Brunswick Parking Authority Auto Parking Revenue 5.000%   9/1/28      1,030      1,060
1 New Brunswick Parking Authority Auto Parking Revenue 5.000%   9/1/29      2,440      2,508
3 New Jersey Economic Development Authority Appropriations Revenue 5.000%  6/15/25      3,580      3,584
9 New Jersey Economic Development Authority Appropriations Revenue 5.250%   7/1/25      2,500      2,518
  New Jersey Economic Development Authority Appropriations Revenue 4.250%  6/15/26      5,735      5,755
10 New Jersey Economic Development Authority Appropriations Revenue 0.000%   7/1/26      1,250      1,188
9 New Jersey Economic Development Authority Appropriations Revenue 5.250%   7/1/26      2,310      2,369
11 New Jersey Economic Development Authority Appropriations Revenue 5.500%   9/1/26     15,000     15,593
  New Jersey Economic Development Authority Appropriations Revenue 5.000%  6/15/27        410        430
1 New Jersey Economic Development Authority Appropriations Revenue 5.000%   7/1/27     10,520     10,921
  New Jersey Economic Development Authority Appropriations Revenue 5.000%  6/15/28        500        533
1 New Jersey Economic Development Authority Appropriations Revenue 5.000%   7/1/28      8,495      8,816
  New Jersey Economic Development Authority Appropriations Revenue 3.125%   7/1/29      3,220      3,101
  New Jersey Economic Development Authority Appropriations Revenue 3.375%   7/1/30      3,000      2,889
  New Jersey Economic Development Authority Appropriations Revenue 4.000%   7/1/32      4,655      4,596
  New Jersey Economic Development Authority Appropriations Revenue 5.000%   7/1/33      5,150      5,227
  New Jersey Economic Development Authority Appropriations Revenue, Prere. 5.000%  6/15/25     21,860     22,039
2 New Jersey Economic Development Authority Appropriations Revenue, SIFMA Municipal Swap Index Yield + 1.250% 3.500%   9/1/25      6,100      6,104
3 New Jersey Economic Development Authority College & University Revenue (Provident Group-Montclair Properties LLC - Montclair State University Student Housing Project) 5.000%   6/1/25      1,105      1,112
5 New Jersey Economic Development Authority General Fund Revenue 5.250%   9/1/25      5,500      5,574
5 New Jersey Economic Development Authority General Fund Revenue 5.250%   9/1/26     19,000     19,679
  New Jersey Economic Development Authority Health, Hospital, Nursing Home Revenue (Cranes Mill Project) 5.000%   1/1/29      1,770      1,818
  New Jersey Economic Development Authority Health, Hospital, Nursing Home Revenue (Lions Gate Project) 4.875%   1/1/29      1,415      1,412
  New Jersey Economic Development Authority Intergovernmental Agreement Revenue 5.000%   3/1/25     18,325     18,354
  New Jersey Economic Development Authority Intergovernmental Agreement Revenue 5.000%   3/1/26     31,225     31,919
  New Jersey Economic Development Authority Intergovernmental Agreement Revenue 5.000%  6/15/26      5,000      5,140
  New Jersey Economic Development Authority Intergovernmental Agreement Revenue 5.000%  6/15/27      3,000      3,142
  New Jersey Economic Development Authority Intergovernmental Agreement Revenue 5.000%   3/1/28     12,000     12,707
  New Jersey Economic Development Authority Lease (Appropriation) Revenue 5.000%  6/15/25      2,500      2,519
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New Jersey Economic Development Authority Lease (Appropriation) Revenue 5.000%  11/1/26     20,155     20,780
  New Jersey Economic Development Authority Lease (Appropriation) Revenue 5.000%  11/1/27      1,000      1,054
  New Jersey Economic Development Authority Lease (Appropriation) Revenue (Portal & Bridge Project) 5.000%  11/1/25      1,000      1,015
  New Jersey Economic Development Authority Lease (Appropriation) Revenue (Portal & Bridge Project) 5.000%  11/1/26      1,100      1,134
  New Jersey Economic Development Authority Lease (Appropriation) Revenue (Portal & Bridge Project) 5.000%  11/1/27      1,300      1,370
  New Jersey Economic Development Authority Lease (Appropriation) Revenue (Portal & Bridge Project) 5.000%  11/1/29      1,775      1,930
1 New Jersey Economic Development Authority Lease (Appropriation) Revenue (State Government Buildings Project) 5.000%  6/15/28      5,015      5,292
  New Jersey Economic Development Authority Lease Revenue (State House Project) 5.000%  6/15/25      8,200      8,263
  New Jersey Economic Development Authority Lease Revenue (State House Project) 4.000%  6/15/29      1,065      1,094
  New Jersey Economic Development Authority Local or Guaranteed Housing Revenue 5.000%   7/1/27      1,000      1,007
  New Jersey Economic Development Authority Local or Guaranteed Housing Revenue 5.000%   1/1/30      1,000      1,000
  New Jersey Economic Development Authority Local or Guaranteed Housing Revenue 5.000%   7/1/32        600        604
  New Jersey Economic Development Authority Revenue 5.250%   4/1/27      3,320      3,483
  New Jersey Economic Development Authority Revenue 5.250%   4/1/28      2,720      2,911
  New Jersey Educational Facilities Authority Appropriations Revenue 5.000%  6/15/25      4,530      4,537
  New Jersey Educational Facilities Authority Appropriations Revenue 5.500%   9/1/28      5,240      5,422
  New Jersey Educational Facilities Authority Appropriations Revenue 4.000%   9/1/29      5,000      5,004
  New Jersey Educational Facilities Authority Appropriations Revenue 5.500%   9/1/29      4,000      4,135
  New Jersey Educational Facilities Authority Appropriations Revenue 4.000%   9/1/31      2,000      2,002
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/25      1,685      1,699
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/25      3,000      3,023
1 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/25      1,790      1,804
1 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/25        100        101
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/26      2,885      2,953
1 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/26      2,500      2,564
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/26        685        700
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/26      1,230      1,239
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/26        995        985
1 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/27        500        514
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/27        525        529
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/27        125        126
3 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/27        335        351
3 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/27      2,020      2,080
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/28      2,000      2,046
3 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/28        475        482
1 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/28      2,830      2,900
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/29      1,955      1,969
1 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/30      1,840      1,882
  New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/31      4,000      4,096
1 New Jersey Educational Facilities Authority College & University Revenue 5.000%   7/1/31      3,000      3,067
  New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue 5.000%   9/1/27        830        872
  New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue 5.000%   9/1/28        750        801
  New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue 5.000%   9/1/29      1,870      2,029
  New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue (Higher Education Equipment Leasing Fund Program) 5.000%   9/1/26      1,000      1,032
  New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue (Higher Education Equipment Leasing Fund Program) 5.000%   9/1/27      1,000      1,051
  New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue (Higher Education Equipment Leasing Fund Program) 5.000%   9/1/28      1,750      1,870
  New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue (Higher Education Equipment Leasing Fund Program) 5.000%   9/1/29      2,000      2,170
  New Jersey GO 2.000%   6/1/25      3,000      2,985
  New Jersey GO 5.000%   6/1/25     15,580     15,695
  New Jersey GO 5.000%   6/1/25      1,670      1,682
  New Jersey GO 2.000%   6/1/26      2,000      1,962
  New Jersey GO 5.000%   6/1/27     58,640     61,553
  New Jersey GO 2.000%   6/1/28     17,990     16,951
  New Jersey GO 5.000%   6/1/28     15,000     16,036
  New Jersey GO 4.000%   6/1/30      6,985      7,346
  New Jersey Health Care Facilities Financing Authority Appropriations Revenue (Hospital Asset Transfer Program) 5.000%  10/1/27      2,500      2,632
  New Jersey Health Care Facilities Financing Authority Appropriations Revenue (Hospital Asset Transfer Program) 5.000%  10/1/30        225        237
  New Jersey Health Care Facilities Financing Authority Appropriations Revenue (Hospital Asset Transfer Program) 5.000%  10/1/31      1,160      1,223
  New Jersey Health Care Facilities Financing Authority Appropriations Revenue (Hospital Asset Transfer Program) 5.000%  10/1/32      1,065      1,120
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        250        252
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      3,625      3,656
3 New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      2,380      2,397
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      3,750      3,783
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        435        437
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      3,380      3,396
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      2,605      2,640
3 New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,800      1,812
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        460        468
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      3,530      3,583
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        875        881
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        480        496
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      3,685      3,787
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,270      1,302
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        505        527
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      7,690      7,965
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      3,410      3,451
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      3,550      3,640
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        530        558
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      8,010      8,346
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29     10,000     10,856
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/30      6,515      6,587
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,000      1,025
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30        555        589
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,500      1,535
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,000      1,074
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/25     15,000     15,114
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/26     13,135     13,453
  New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/26      1,000      1,027
  New Jersey Health Care Facilities Financing Authority Lease (Appropriation) Revenue (Greystone Park Psychiatric Hospital Project) 5.000%  9/15/25      1,830      1,853
  New Jersey Health Care Facilities Financing Authority Lease (Appropriation) Revenue (Greystone Park Psychiatric Hospital Project) 5.000%  9/15/26      1,135      1,172
  New Jersey Health Care Facilities Financing Authority Lease (Appropriation) Revenue (Greystone Park Psychiatric Hospital Project) 5.000%  9/15/27      3,000      3,156
  New Jersey Health Care Facilities Financing Authority Lease (Appropriation) Revenue (Greystone Park Psychiatric Hospital Project) 5.000%  9/15/28      2,150      2,300
  New Jersey Health Care Facilities Financing Authority Lease (Appropriation) Revenue (Greystone Park Psychiatric Hospital Project) 5.000%  9/15/29      1,150      1,249
  New Jersey Health Care Facilities Financing Authority Lease (Appropriation) Revenue (Marlboro Psychiatric Hospital Project) 5.000%  9/15/26      1,000      1,033
  New Jersey Health Care Facilities Financing Authority Lease (Appropriation) Revenue (Marlboro Psychiatric Hospital Project) 5.000%  9/15/30      4,440      4,881
  New Jersey Higher Education Student Assistance Authority Student Loan Revenue 5.000%  12/1/25      4,950      5,026
  New Jersey Higher Education Student Assistance Authority Student Loan Revenue 5.000%  12/1/26      3,500      3,617
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 0.900%  11/1/25      2,500      2,440
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 3.375%  11/1/27      1,350      1,344
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 3.375%  11/1/27      1,610      1,603
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 3.500%   5/1/29        930        929
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 4.500%  10/1/48      6,865      6,957
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 4.750%  10/1/50      7,310      7,434
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 3.500%   4/1/51     22,680     22,460
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 5.500%   4/1/53      9,770     10,437
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/53      5,315      5,482
  New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue (New Irvine Turner Apartments Project) 3.670%   2/1/26      1,585      1,587
2 New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue, SIFMA Municipal Swap Index Yield + 1.200% 3.450%   5/1/48     10,000     10,048
  New Jersey Sports & Exposition Authority Appropriations Revenue 5.000%   9/1/25      1,465      1,479
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/25      2,500      2,519
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/25     14,000     14,251
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/25      3,345      3,405
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/26      1,000      1,028
11 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/26      3,010      2,837
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/26     14,995     14,132
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/26     13,250     13,748
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/26     22,550     23,397
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/27     16,130     16,528
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/27      1,605      1,682
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/27     33,345     30,383
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/28     16,235     16,630
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/28      4,320      4,426
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/28     11,685     12,462
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/28      1,335      1,424
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
11 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/28      1,865      1,639
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/28      3,560      3,130
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/28      8,195      7,204
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/29     36,420     37,275
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/29      3,415      3,701
3 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/29     46,265     39,316
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/29      2,005      1,699
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/30     24,895     25,446
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/30     10,825     11,065
9 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/30     27,435     22,377
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/30      1,605      1,309
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/31     23,405     23,887
9 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/31      3,330      2,608
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/31      1,035        811
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 4.000% 12/15/31      5,045      5,196
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/31        110        119
3 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/32      1,765      1,336
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/32      2,630      2,797
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/33      7,065      7,498
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 4.250%  6/15/26        390        391
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/31      3,200      3,415
  New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue 5.000%  6/15/32      5,355      5,701
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 5.000%  6/15/32     24,810     27,881
  New Jersey Transportation Trust Fund Authority Lease (Appropriation) Revenue 0.000% 12/15/32      2,500      1,877
5,6,11 New Jersey Transportation Trust Fund Authority Revenue TOB VRDO 2.350%   2/6/25      9,095      9,095
11,18 New Jersey Transportation Trust Fund Authority Transit Revenue 0.000% 12/15/26      1,530      1,445
14,18 New Jersey Transportation Trust Fund Authority Transit Revenue 0.000% 12/15/27        940        859
11,18 New Jersey Transportation Trust Fund Authority Transit Revenue 0.000% 12/15/28        650        574
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/27      3,000      3,124
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/28     12,740     12,952
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/28     17,500     18,541
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/29     25,000     26,933
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/30     21,000     22,979
1 Newark Board of Education GO 5.000%  7/15/25        125        126
1 Newark Board of Education GO 5.000%  7/15/26        150        154
1 Newark Board of Education GO 5.000%  7/15/27      1,525      1,597
1 Newark Board of Education GO 5.000%  7/15/28        350        373
3 Newark NJ GO 5.000%  10/1/25        300        304
  North Bergen Township NJ BAN GO 4.500%  4/22/25      1,559      1,563
9 North Hudson NJ Sewerage Authority Intergovernmental Agreement Revenue, ETM 0.000%   8/1/25      9,000      8,865
  Orange Township NJ BAN GO 4.250%  3/20/25      5,385      5,392
  Orange Township NJ BAN GO 4.750%  5/29/25      4,807      4,832
  Passaic County Improvement Authority Charter School Aid Revenue 5.000%   1/1/34        280        291
1 Perth Amboy NJ GO 3.000%  3/15/27      1,500      1,500
1 Perth Amboy NJ GO 3.000%  3/15/28      2,400      2,396
  Seaside Heights Borough NJ BAN GO 4.000%  3/26/25      1,610      1,612
3 South Jersey Transportation Authority Highway Revenue 5.000%  11/1/25        530        538
  South Jersey Transportation Authority Highway Revenue 5.000%  11/1/25        400        401
  South Jersey Transportation Authority Highway Revenue 5.000%  11/1/26        265        265
3 South Jersey Transportation Authority Highway Revenue 5.000%  11/1/26      1,090      1,128
  South Jersey Transportation Authority Highway Revenue 5.000%  11/1/27        990        992
1 South Jersey Transportation Authority Highway Revenue 5.000%  11/1/28      1,000      1,072
  South Jersey Transportation Authority Highway Revenue 5.000%  11/1/29      1,200      1,202
1 South Jersey Transportation Authority Highway Revenue 5.000%  11/1/29      1,000      1,088
3 South Jersey Transportation Authority Highway Revenue 5.000%  11/1/30      1,000      1,086
1 South Jersey Transportation Authority Highway Revenue 5.000%  11/1/30      1,000      1,102
1 South Jersey Transportation Authority Highway Revenue 5.000%  11/1/31      1,000      1,115
  South Jersey Transportation Authority Highway Revenue 5.000%  11/1/32      2,250      2,254
  Southampton Township NJ BAN GO 4.500%  3/19/25      1,195      1,197
  Tewksbury Township NJ BAN GO 4.500%  5/12/25      2,248      2,258
  Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/25     17,450     17,529
  Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/26      4,750      4,836
  Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/27      1,025      1,056
  Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/29      1,000      1,041
  Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/31      2,470      2,565
  Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/32      2,400      2,488
  Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/33      1,000      1,035
  Toms River Board of Education GO 2.000%  7/15/27      1,810      1,740
  Trenton NJ GO 4.500%  5/29/25      4,790      4,810
3 Trenton NJ GO 5.000%   8/1/25      1,650      1,667
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
3 Trenton NJ GO 2.000%  7/15/26      2,135      2,091
3 Trenton NJ GO 2.000%  7/15/27      1,080      1,036
3 Trenton NJ GO 2.000%  7/15/28      1,090      1,020
3 Union City NJ GO 2.250%   8/1/26        500        489
  Union County NJ GO 4.000%   3/1/28      1,335      1,386
  Union County NJ GO 4.000%   3/1/29      1,465      1,534
  Union County NJ GO 4.000%   3/1/30      4,415      4,643
  Verona Township Board of Education GO 2.000%   3/1/25      1,250      1,249
  Verona Township Board of Education GO 2.000%   3/1/26      1,450      1,428
  Verona Township Board of Education GO 2.000%   3/1/27      1,500      1,443
3 Vineland NJ GO 3.000%  10/1/27      1,225      1,220
3 Vineland NJ GO 3.000%  10/1/28        585        578
                                   1,385,041
New Mexico (0.7%)
  Albuquerque Municipal School District No. 12 GO 5.000%   8/1/26      1,000      1,031
  Albuquerque Municipal School District No. 12 GO 5.000%   8/1/29      1,000      1,084
  Farmington NM Electric Power & Light Revenue (Public Service Co. of New Mexico San Jaun Project) PUT 0.875%  10/1/26      3,465      3,291
  Farmington NM Electric Power & Light Revenue (Public Service Co. of New Mexico San Jaun Project) PUT 3.875%   6/1/29      3,580      3,632
  Farmington NM Industrial Revenue (Four Corners Project) 1.800%   4/1/29     19,615     17,391
  Farmington NM Industrial Revenue (San Juan Project) PUT 3.875%   6/1/29      3,870      3,927
  Farmington NM Industrial Revenue (San Juan Project) PUT 3.875%   6/1/29      4,650      4,718
  Farmington NM Industrial Revenue (Southern California Edison Co. Four Corners Project) 1.800%   4/1/29     12,580     11,154
  Farmington NM Industrial Revenue (Southern California Edison Co. Four Corners Project) 1.800%   4/1/29     22,020     19,523
  Farmington NM Industrial Revenue PUT 3.900%   6/1/28     10,255     10,385
  New Mexico Finance Authority Fuel Sales Tax Revenue 5.000%  6/15/25      9,205      9,279
  New Mexico Finance Authority Lease Revenue 5.000%  6/15/25      1,160      1,170
  New Mexico Finance Authority Lease Revenue (Senior Lien Public Project) 5.000%   6/1/26      3,385      3,487
  New Mexico Finance Authority Lease Revenue (Senior Lien Public Project) 4.000%   6/1/30      2,565      2,596
  New Mexico Hospital Equipment Loan Council Health, Hospital, Nursing Home Revenue 5.000%   6/1/25        500        502
  New Mexico Hospital Equipment Loan Council Health, Hospital, Nursing Home Revenue 5.000%   6/1/26      1,160      1,182
  New Mexico Hospital Equipment Loan Council Health, Hospital, Nursing Home Revenue 5.000%   6/1/27      1,500      1,546
  New Mexico Hospital Equipment Loan Council Health, Hospital, Nursing Home Revenue 5.000%   8/1/31      1,150      1,204
  New Mexico Hospital Equipment Loan Council Health, Hospital, Nursing Home Revenue PUT 5.000%   8/1/25      9,865      9,948
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue 3.500%   7/1/50      2,010      1,996
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue 3.000%   1/1/51        700        685
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue 3.500%   1/1/51      3,015      2,993
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue 3.000%   7/1/52        950        924
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue 5.250%   3/1/53      1,455      1,526
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue (Single Family Mortgage Program) 3.000%   1/1/52      1,635      1,596
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue (Single Family Mortgage Program) 3.000%   3/1/53      4,790      4,670
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue (Single Family Mortgage Program) 6.250%   9/1/53      1,590      1,734
  New Mexico Mortgage Finance Authority Local or Guaranteed Housing Revenue (Single Family Mortgage Program) 5.750%   3/1/54      1,825      1,955
  New Mexico Municipal Energy Acquisition Authority Natural Gas Revenue PUT 5.000%   5/1/25     77,535     77,789
  New Mexico Severance Tax Permanent Fund Severance Tax Revenue 5.000%   7/1/29     10,000     10,888
  Santa Fe County NM Local or Guaranteed Housing Revenue PUT 3.290%   6/1/28      4,220      4,203
5 Winrock Town Center Tax Increment Development District No. 1 Tax Increment/Allocation Revenue 3.750%   5/1/28      1,588      1,575
                                     219,584
New York (11.1%)
5 ABAG Nonprofit Corp. Finance Authority Miscellaneous Revenue TOB VRDO 2.100%   2/3/25     15,160     15,160
  Albany NY BAN GO 4.500%  3/21/25      1,859      1,863
  Alden Central School District GO 2.750%  6/15/29        465        438
9 Avon Central School District GO 2.500%  6/15/30        595        539
  Bath Central School District BAN GO 4.250%  6/27/25     12,600     12,651
  Binghamton NY BAN GO 4.000%  4/11/25     29,580     29,619
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/25      3,000      3,020
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/26      3,250      3,316
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/27      7,350      7,542
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/28      4,600      4,716
3 Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 4.000%  7/15/29      1,750      1,767
  Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.500%   7/1/25        455        453
3 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   4/1/26        750        764
3 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   4/1/27      1,000      1,036
3 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   4/1/28      2,570      2,701
  Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue (Good Shepherd Village at Endwell Inc. Project) 4.000%   7/1/31      1,600      1,566
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Brutus NY BAN GO 4.375%  1/21/26      1,510      1,524
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue (Catholic Health System Inc. Project) 5.000%   7/1/26        650        650
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue (Catholic Health System Inc. Project) 5.000%   7/1/27        350        350
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue (Catholic Health System Inc. Project) 5.000%   7/1/28      1,130      1,129
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue (Catholic Health System Inc. Project) 5.000%   7/1/29        245        244
  Build NYC Resource Corp. Charter School Aid Revenue (Academic Leadership Charter School Project) 4.000%  6/15/25        130        130
  Build NYC Resource Corp. Charter School Aid Revenue (Academic Leadership Charter School Project) 4.000%  6/15/26        100         99
  Build NYC Resource Corp. Charter School Aid Revenue (Academic Leadership Charter School Project) 4.000%  6/15/27        100        100
  Build NYC Resource Corp. Charter School Aid Revenue (Academic Leadership Charter School Project) 4.000%  6/15/28        100        100
  Build NYC Resource Corp. Charter School Aid Revenue (Academic Leadership Charter School Project) 4.000%  6/15/29        220        220
  Build NYC Resource Corp. Charter School Aid Revenue (KIPP NYC Public School Facilities - Canal West Project) 5.000%   7/1/29        500        528
  Build NYC Resource Corp. Charter School Aid Revenue (KIPP NYC Public School Facilities - Canal West Project) 5.000%   7/1/30        510        544
  Build NYC Resource Corp. Charter School Aid Revenue (Success Academy Charter Schools Project) 5.000%   9/1/30      1,200      1,314
  Build NYC Resource Corp. Charter School Aid Revenue (Success Academy Charter Schools Project) 5.000%   9/1/31      2,110      2,331
5 Build NYC Resource Corp. Private Schools Revenue (Shefa School Project) 2.500%  6/15/31      2,405      2,153
  Canandaigua City NY School District GO 2.500%  6/15/30        445        413
  Champlain Fire District BAN GO 4.125% 12/12/25      3,070      3,074
3 Cheektowaga-Maryvale Union Free School District GO 2.375%  6/15/30        615        552
  Cortland NY BAN GO 4.500%  5/16/25      3,395      3,405
3 Cuba-Rushford Central School District GO 2.750%  6/15/29        460        432
  Cutchogue Fire District BAN GO 4.500%   5/7/25      6,250      6,268
5 Deutsche Bank Spears/Lifers Trust Revenue TOB VRDO 2.100%   2/3/25     59,000     59,000
3 Dolgeville Central School District GO 2.500%  6/15/30        605        549
  Dutchess County Local Development Corp. College & University Revenue (Marist College Project) 5.000%   7/1/31      2,610      2,627
  Dutchess County Local Development Corp. College & University Revenue (Marist College Project) 5.000%   7/1/33      2,770      2,787
  Dutchess County Local Development Corp. College & University Revenue (Marist College Project) 5.000%   7/1/34      2,935      2,952
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/25        920        924
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/25        100        100
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/25        505        507
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/26        430        438
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/26        175        178
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/26        530        540
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/27      1,000      1,031
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/27        200        206
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/27        560        578
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/28        200        208
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/28        685        714
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/29        390        410
  Dutchess County Local Development Corp. College & University Revenue (The Culinary Institute of America Project) 5.000%   7/1/30        405        429
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,955      1,989
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        405        409
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      2,170      2,267
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%   7/1/29        715        673
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        985        995
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      3,220      3,398
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,775      1,872
  Empire State Development Corp. Income Tax Revenue 5.000%  9/15/29     20,000     21,912
  Empire State Development Corp. Income Tax Revenue 5.000%  9/15/30     60,000     66,817
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/31      2,985      3,018
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/32      8,260      8,633
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/32      1,120      1,144
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/33      2,610      2,637
  Empire State Development Corp. Intergovernmental Agreement Revenue 5.000%  3/15/28     17,475     18,662
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Empire State Development Corp. Intergovernmental Agreement Revenue 5.000%  3/15/29      7,050      7,661
  Endicott NY BAN GO 5.250%  4/18/25      1,160      1,164
  Erie County Industrial Development Agency Intergovernmental Agreement Revenue (City School District-Bufallow Project) 5.000%   5/1/28        720        731
  Genesee County Funding Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/25        600        606
  Genesee County Funding Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/27        400        417
  Genesee County Funding Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/28        665        702
  Genesee County Funding Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/29        500        533
  Genesee County Funding Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/30        600        645
  Greenport NY BAN GO 4.500%   8/1/25      1,000      1,006
1 Greenville Central School District GO 2.250%  6/15/29        530        481
3 Greenwich Central School District GO 2.250%  6/15/29        435        395
  Hempstead Town Local Development Corp. College & University Revenue (Adelphi University Project) 5.000%   9/1/25        630        631
  Hempstead Town Local Development Corp. College & University Revenue (Adelphi University Project) 5.000%   6/1/28        300        316
  Hempstead Town Local Development Corp. College & University Revenue (Adelphi University Project) 5.000%  10/1/28        275        275
  Hempstead Town Local Development Corp. College & University Revenue (Hofstra University Project) 5.000%   7/1/27        790        791
  Hempstead Town Local Development Corp. College & University Revenue (Hofstra University Project) 5.000%   7/1/27        750        784
  Hempstead Town Local Development Corp. College & University Revenue (Hofstra University Project) 5.000%   7/1/28        845        898
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/25      1,575      1,581
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/25        305        306
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/26        320        325
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/27        335        345
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/29        955        983
  Hempstead Union Free School District GO 4.500%  6/30/25     20,000     20,121
1 Hendrick Hudson Central School District GO 2.125%  4/15/30        225        200
  Hyde Park Central School District NY GO 2.500%  6/15/29        420        390
  Ithaca NY BAN GO 4.000%  2/14/25      4,022      4,023
  Ithaca NY BAN GO 4.500%  2/14/25     11,105     11,108
  Ithaca NY BAN GO 4.500%  7/18/25      2,623      2,639
  Lloyd NY BAN GO 4.500%   2/7/25      1,210      1,210
  Long Island Power Authority Electric Power & Light Revenue 1.000%   9/1/25     23,855     23,478
3 Long Island Power Authority Electric Power & Light Revenue 0.000%  12/1/25      2,895      2,819
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/27      2,250      2,382
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/28      9,100      9,812
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/28      2,250      2,426
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/29      2,000      2,191
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/29     20,000     21,906
  Long Island Power Authority Electric Power & Light Revenue PUT 0.850%   9/1/25     61,665     60,710
  Long Island Power Authority Electric Power & Light Revenue PUT 1.500%   9/1/26     28,445     27,549
  Long Island Power Authority Electric Power & Light Revenue PUT 3.000%   9/1/29     12,090     11,824
  Long Island Power Authority Electric Power & Light Revenue PUT 3.000%   9/1/31     21,900     21,338
3 Long Island Power Authority Electric Power & Light Revenue, ETM 0.000%  12/1/26      2,375      2,246
2 Long Island Power Authority Electric Power & Light Revenue, SIFMA Municipal Swap Index Yield + 0.450% 2.700%   9/1/38     48,810     48,682
  Metropolitan Transportation Authority Dedicated Tax Fund Fuel Sales Tax Revenue 5.250% 11/15/33      3,690      3,869
  Metropolitan Transportation Authority Dedicated Tax Fund Miscellaneous Taxes Revenue 3.000% 11/15/28     10,000      9,900
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/25      2,640      2,684
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/25     28,115     28,584
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/25      1,540      1,549
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/26      5,630      5,838
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/26        350        363
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/26        455        472
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/26     18,075     18,743
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/26        250        259
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/26      1,775      1,799
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/26        725        735
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/27      6,540      6,907
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/27      3,010      3,179
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/27      2,150      2,178
  Metropolitan Transportation Authority Transit Revenue 3.125% 11/15/28      1,000        995
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/28      1,040      1,053
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/28      2,585      2,774
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/28      1,735      1,787
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/28      2,000      2,146
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/28      2,885      2,972
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/29      2,660      2,762
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/29      1,390      1,429
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/29      1,020      1,049
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/30      3,265      3,355
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/30      2,500      2,638
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/30      1,250      1,264
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/30      3,000      3,312
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/31      8,665      9,128
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/31      4,300      4,348
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/31      4,000      4,106
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/31      2,500      2,548
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/31      3,950      4,386
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/32      1,980      1,986
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/33      7,155      7,513
  Metropolitan Transportation Authority Transit Revenue PUT 5.000%  5/15/30     14,445     15,393
1,5 Metropolitan Transportation Authority Transit Revenue TOB VRDO 2.370%   2/6/25      5,000      5,000
2,3 Metropolitan Transportation Authority Transit Revenue, 67% of SOFR + 0.800% 3.715%  11/1/32      3,080      3,082
  Middle Country Central School District At Centereach GO 3.000%  8/15/30      3,250      3,218
  Monroe County Industrial Development Corp. Local or Guaranteed Housing Revenue PUT 5.000%   7/1/27      2,000      2,077
  Monroe County Industrial Development Corp. Local or Guaranteed Housing Revenue PUT 5.000%   7/1/27      2,000      2,077
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue (Rochester Regional Health Project) 5.000%  12/1/25        500        505
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue (Rochester Regional Health Project) 5.000%  12/1/26      1,605      1,652
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue (Rochester Regional Health Project) 5.000%  12/1/27      1,825      1,904
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue (Rochester Regional Health Project) 5.000%  12/1/28        445        470
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue (The Rochester General Hospital Project) 4.000%  12/1/25        360        360
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      3,000      3,005
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      1,000      1,001
3 Nassau County NY GO 5.000%   7/1/26      1,000      1,034
3 Nassau County NY GO, ETM 5.000%   7/1/25      1,860      1,879
  Nassau Health Care Corp. Health, Hospital, Nursing Home Revenue 5.000%   8/1/29     10,595     11,578
  New Paltz NY BAN GO 4.500%  7/18/25      1,200      1,207
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 1.850%   5/1/26        665        651
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 1.350%  11/1/29      1,410      1,228
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 1.550%  11/1/30      1,250      1,083
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.100%  11/1/30      1,065        958
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.400%  11/1/30      1,090        997
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 1.600%   5/1/31      1,390      1,194
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 1.950%  11/1/31      1,020        869
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.750%  11/1/31      6,130      5,660
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 4.375% 12/15/31      1,840      1,872
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 0.600%   7/1/25     25,095     24,785
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 0.700%   7/1/25      1,880      1,858
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 0.900%   1/1/26     20,865     20,337
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 2.950%   2/1/26        365        364
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.400% 12/22/26      5,210      5,211
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.400% 12/22/26     14,350     14,298
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.700% 12/30/27     19,495     19,542
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.800%   1/3/28      2,000      2,019
8 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.625%   7/1/28     25,275     25,409
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.700%   7/3/28     29,105     29,424
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 4.300%  11/1/28      5,120      5,231
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.730% 12/29/28     11,735     11,780
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 3.400%   1/2/29      4,150      4,118
6 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 2.100%  10/1/29      4,000      3,661
5,6 New York City Housing Development Corp. Local or Guaranteed Housing Revenue TOB VRDO 2.200%   2/3/25     14,895     14,895
3 New York City Industrial Development Agency Miscellaneous Revenue (Queens Baseball Stadium Project) 5.000%   1/1/27      2,250      2,334
3 New York City Industrial Development Agency Miscellaneous Revenue (Queens Baseball Stadium Project) 5.000%   1/1/29      3,950      4,224
3 New York City Industrial Development Agency Miscellaneous Revenue (Queens Baseball Stadium Project) 5.000%   1/1/30      3,250      3,522
3 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 5.000%   3/1/30      1,180      1,278
3 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 4.000%   3/1/31      4,000      4,134
10 New York City Industrial Development Agency Recreational Revenue PILOT 0.000%   3/1/26      5,000      4,820
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/30     19,065     20,556
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/33      2,460      2,495
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/31      1,310      1,373
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/27        825        841
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/27     20,000     21,214
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/27      6,500      6,894
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/28      1,500      1,618
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/28     10,000     10,789
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/29      2,345      2,402
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/29     14,480     15,878
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/29     17,000     18,642
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/29      8,025      8,800
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/30     11,000     12,231
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/31      5,000      5,093
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/31      1,000      1,041
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/31      2,500      2,569
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/32      6,000      6,109
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/32      1,920      1,963
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/32      1,465      1,523
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/33     15,290     15,820
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/33      5,000      5,194
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/33      4,405      4,593
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/33     30,000     30,253
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/33      2,915      3,087
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/34     21,720     21,848
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/34      6,715      6,768
5 New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue TOB VRDO 1.900%   2/3/25      9,810      9,810
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue VRDO 1.550%   2/3/25     28,130     28,130
  New York City Transitional Finance Authority Future Tax Secured Sales Tax Revenue 5.000%   2/1/33      5,000      5,007
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/26      6,000      6,172
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/27      1,140      1,197
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/28      2,190      2,342
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/28      1,415      1,513
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/28     27,700     29,885
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/29      1,695      1,843
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/29      6,930      7,536
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/29      4,375      4,757
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/29      5,000      5,483
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/29      7,035      7,714
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/30      5,310      5,859
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/30      4,500      4,965
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/30      2,450      2,703
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/30     10,825     12,036
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/30     21,000     23,350
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/31      5,000      5,595
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/31      6,815      7,626
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/31     20,000     22,513
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/32      3,355      3,796
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/26        100        101
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 0.000% 11/15/27      1,500      1,357
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/27      5,135      5,196
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/28      1,250      1,265
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/30      1,355      1,371
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 0.000% 11/15/32      1,590      1,169
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/34      1,000      1,010
5 New York Convention Center Development Corp. Hotel Occupancy Tax Revenue TOB VRDO 2.650%   2/6/25      5,200      5,200
  New York Counties Tobacco Trust VI Tobacco Settlement Funded Revenue 5.000%   6/1/25        845        848
  New York Liberty Development Corp. Industrial Revenue (Bank of America Tower at One Bryant Park Project) 2.450%  9/15/69     25,785     24,074
  New York Liberty Development Corp. Industrial Revenue (Bank of America Tower at One Bryant Park Project) 2.625%  9/15/69     13,485     12,527
  New York Liberty Development Corp. Industrial Revenue (Bank of America Tower at One Bryant Park Project) 2.800%  9/15/69     27,735     25,527
  New York Liberty Development Corp. Lease (Appropriation) Revenue 1.450% 11/15/29      5,250      4,585
  New York Liberty Development Corp. Lease (Appropriation) Revenue 1.700% 11/15/30      4,700      4,050
  New York Liberty Development Corp. Lease (Appropriation) Revenue 1.900% 11/15/31      3,000      2,562
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 1.000%   4/1/27        610        568
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 2.000%   4/1/27      1,380      1,326
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 2.100%  10/1/27        750        716
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 5.000%  10/1/27      1,000      1,050
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 1.300%   4/1/28      1,250      1,145
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 2.200%   4/1/28        585        557
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 2.250%  10/1/28      1,020        966
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 5.000%  10/1/28      1,000      1,063
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 1.450%   4/1/29      3,960      3,558
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 1.550%   4/1/29      1,375      1,223
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 2.150%   4/1/29      1,265      1,172
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 5.000%  10/1/29      1,000      1,073
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 2.250%   4/1/30      1,225      1,119
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 4.000%   4/1/40        720        721
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 3.500%  10/1/47      2,520      2,514
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 5.000%  10/1/48     12,575     12,979
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 3.000%   4/1/50     10,545     10,270
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 3.250%  10/1/50      3,690      3,648
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 3.250%  10/1/51     15,415     15,099
  New York Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue 3.500%  10/1/52      4,225      4,187
  New York NY GO 5.000%   8/1/25      2,300      2,326
  New York NY GO 5.000%   8/1/25      3,320      3,357
  New York NY GO 5.000%   8/1/25      2,750      2,781
  New York NY GO 5.000%   8/1/25      1,125      1,138
  New York NY GO 5.000%   8/1/26        100        101
  New York NY GO 5.000%   8/1/26          5          5
  New York NY GO 5.000%   8/1/26      1,000      1,033
  New York NY GO 5.000%   8/1/27      5,000      5,053
  New York NY GO 5.000%   8/1/27      1,750      1,753
  New York NY GO 5.000%   8/1/27          5          5
  New York NY GO 5.000%   8/1/27      1,000      1,054
  New York NY GO 5.000%   8/1/27      6,000      6,324
  New York NY GO 5.000%   8/1/27      6,525      6,878
3 New York NY GO 5.000%  10/1/27     16,530     17,492
  New York NY GO 5.000%   8/1/28      4,500      4,547
  New York NY GO 5.000%   8/1/28     10,455     11,221
  New York NY GO 5.000%   8/1/28      4,115      4,416
  New York NY GO 5.000%   8/1/28      1,000      1,073
  New York NY GO 5.000%   8/1/28      5,000      5,366
  New York NY GO 5.000%   8/1/28      1,050      1,127
  New York NY GO 5.000%   8/1/28      7,490      8,039
  New York NY GO 5.000%   9/1/28      6,050      6,502
  New York NY GO 5.000%   4/1/29      2,000      2,169
  New York NY GO 5.000%   4/1/29      5,000      5,423
  New York NY GO 5.000%   8/1/29      1,215      1,325
  New York NY GO 5.000%   8/1/29     12,765     13,923
  New York NY GO 5.000%   8/1/29      1,050      1,145
  New York NY GO 5.000%   8/1/29      7,545      8,230
  New York NY GO 5.000%   9/1/29      5,000      5,461
  New York NY GO 5.000%   4/1/30      1,000      1,101
  New York NY GO 5.000%   4/1/30     11,970     13,179
  New York NY GO 5.000%   8/1/30      2,825      2,879
  New York NY GO 5.000%   8/1/30        450        463
  New York NY GO 5.000%   8/1/30      1,640      1,815
  New York NY GO 5.000%   8/1/30      1,500      1,660
  New York NY GO 5.000%   8/1/30      1,000      1,107
  New York NY GO 5.000%   8/1/30      5,000      5,533
  New York NY GO 5.000%   8/1/30     18,480     20,452
  New York NY GO 5.000%   8/1/30      1,575      1,743
  New York NY GO 5.000%   8/1/30      5,455      6,037
  New York NY GO 5.000%   9/1/30      5,000      5,540
  New York NY GO 5.000%  11/1/30      3,065      3,405
  New York NY GO 5.000%   8/1/31     28,590     32,001
  New York NY GO 5.000%   9/1/31      1,550      1,737
  New York NY GO 5.000%   1/1/32      3,790      4,050
  New York NY GO 5.000%   8/1/32      3,000      3,082
13 New York NY GO PUT 5.000%  12/1/25      2,290      2,304
6 New York NY GO VRDO 1.550%   2/3/25     51,280     51,280
3 New York Power Authority Electric Power & Light Revenue (Green Transmission Project) 5.000% 11/15/28      2,695      2,926
3 New York Power Authority Electric Power & Light Revenue (Green Transmission Project) 5.000% 11/15/29      1,000      1,105
3 New York Power Authority Electric Power & Light Revenue (Green Transmission Project) 5.000% 11/15/30      2,720      3,055
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/25        750        753
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/25        315        317
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/25        325        327
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/26      1,300      1,308
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/26        700        719
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/26        550        553
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/26        350        358
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/27      1,875      1,941
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/27      1,500      1,569
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/27        180        188
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/27        755        786
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/28        200        213
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/28        100        100
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/28        950      1,003
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/28     33,440     35,374
  New York State Dormitory Authority College & University Revenue 5.000%  7/15/28      1,140      1,187
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/29      2,050      2,167
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29        500        535
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29      7,400      7,982
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/30      2,250      2,403
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30      2,400      2,407
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30      7,830      8,558
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/31      1,415      1,526
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/31      1,500      1,504
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/34      1,075      1,077
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/25      1,040      1,047
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/26      1,195      1,224
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/27        985      1,015
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/28      2,735      2,817
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/29      1,450      1,494
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/31        635        654
  New York State Dormitory Authority College & University Revenue VRDO 3.130%   2/6/25     13,900     13,900
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      6,345      6,394
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25        640        647
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/26        820        824
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        700        704
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      5,325      5,448
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/26        585        600
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/26        300        300
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      1,000      1,005
4 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/27      3,235      3,379
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,225      1,234
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/27      1,870      1,937
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/27      3,850      3,993
4 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/28      5,150      5,473
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,490      1,505
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/28      3,785      3,965
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/28      3,305      3,461
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/28      1,200      1,200
4 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/29      6,050      6,530
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        400        405
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/29      6,220      6,482
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/29      2,700      2,858
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/29        500        527
4 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/30      6,255      6,847
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/30      7,280      7,548
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/30      1,120      1,192
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/30        595        637
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/31        780        783
4 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/31      3,420      3,793
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/31      4,345      4,492
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/31        500        537
4 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/32      3,830      4,296
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/32        300        309
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/32        580        625
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/32        750        813
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   5/1/34      4,125      4,133
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   5/1/26      7,000      7,093
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue PUT 1.800%  11/1/28     18,730     17,545
3,5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.400%   2/6/25     11,800     11,800
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/28      2,900      3,100
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/28      1,350      1,443
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/29      6,900      7,501
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/30      3,470      3,611
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/30      1,165      1,178
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/30      9,900     10,932
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/31      6,700      6,705
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/31     11,035     11,472
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31      1,785      1,804
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/32      5,000      5,137
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/32      5,475      5,733
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/32     16,905     16,931
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/32      1,050      1,061
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/33      4,880      4,952
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/33      2,295      2,356
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/33      2,810      2,818
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York State Dormitory Authority Income Tax Revenue 5.250%  3/15/33      6,275      6,347
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/34      5,000      5,049
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  2/15/26      1,410      1,444
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  3/15/26     37,560     38,411
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  3/15/28      3,975      4,253
  New York State Dormitory Authority Income Tax Revenue, Prere. 5.000%  3/15/25      1,000      1,003
  New York State Dormitory Authority Income Tax Revenue, Prere. 5.000%  3/15/25      1,200      1,203
  New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/26      1,000      1,038
3 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/26      4,000      4,153
3 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/27      2,400      2,540
3 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/28      3,090      3,330
3 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/29        300        329
  New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/30      1,550      1,624
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/25      1,930      1,960
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/25      5,000      5,077
1 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/26      3,575      3,712
1 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/27      2,700      2,857
1 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/28      2,775      2,991
3 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/29      1,500      1,503
1 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/29      9,000      9,872
3 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/30      1,405      1,470
1 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/30      5,000      5,561
  New York State Dormitory Authority Local or Guaranteed Housing Revenue 5.000%   7/1/28      1,500      1,605
  New York State Dormitory Authority Local or Guaranteed Housing Revenue 5.000%   7/1/28      1,465      1,567
  New York State Dormitory Authority Local or Guaranteed Housing Revenue 5.000%   7/1/29      1,220      1,325
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/29     12,500     13,634
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/30     19,500     21,661
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/31      8,255      8,585
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/31     29,165     32,897
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/32      5,000      5,055
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/32     36,465     41,623
  New York State Dormitory Authority Sales Tax Revenue, Prere. 5.000%  9/15/25        790        801
  New York State Dormitory Authority Sales Tax Revenue, Prere. 5.000%  9/15/25      1,070      1,085
  New York State Energy Research & Development Authority Industrial Revenue PUT 3.000%   7/1/25     14,000     13,995
  New York State Energy Research & Development Authority Industrial Revenue PUT 3.000%   7/1/25     23,900     23,891
  New York State Environmental Facilities Corp. Water Revenue 5.000%  8/15/26          5          5
  New York State Environmental Facilities Corp. Water Revenue 4.000%  9/15/34      6,750      6,715
  New York State Housing Finance Agency Income Tax Revenue PUT 3.300% 12/15/28      1,360      1,353
  New York State Housing Finance Agency Income Tax Revenue PUT 3.350%  6/15/29      5,900      5,895
  New York State Housing Finance Agency Income Tax Revenue PUT 3.350% 12/15/29      1,135      1,134
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 0.750%   5/1/25      1,745      1,730
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.400%   5/1/25        100        100
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 0.750%  11/1/25     10,430     10,167
8 New York State Housing Finance Agency Local or Guaranteed Housing Revenue 0.750%  11/1/25        115        112
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 0.750%  11/1/25      3,000      2,924
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 1.650%  11/1/25        285        281
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.200%   5/1/30      1,395      1,264
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 0.650%  11/1/25      4,075      3,974
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 0.650%  11/1/25      5,130      5,022
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 1.000%  11/1/26      1,710      1,628
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 1.000%  11/1/26      1,945      1,845
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 1.100%   5/1/27     26,525     25,071
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 2.500%   5/1/27     24,515     23,926
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 2.500%   5/1/27     10,615     10,360
8 New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.450%   5/1/27      2,400      2,400
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.800%   5/1/27      1,000      1,001
8 New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.100%  11/1/27     38,750     38,398
8 New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.100%  11/1/27      4,060      4,018
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.350%   5/1/28      7,595      7,586
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.650%  11/1/28      8,350      8,363
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 4.500%  11/1/28     27,000     27,256
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.450%   5/1/29      5,980      5,981
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.600%   5/1/29     47,905     48,087
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.800%   5/1/29     19,750     19,799
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.450%  11/1/29     23,985     23,987
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.750%  11/1/29     11,140     11,220
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.570%  11/1/31     30,495     30,506
5 New York State Housing Finance agency Local or Guaranteed Housing Revenue TOB VRDO 2.600%   2/6/25     22,500     22,500
5 New York State Housing Finance Agency Revenue TOB VRDO 2.200%   2/3/25      1,023      1,023
  New York State Thruway Authority Highway Revenue 5.000%   1/1/29      1,200      1,222
  New York State Thruway Authority Income Tax Revenue 5.000%  3/15/29     10,000     10,883
  New York Transportation Development Corp. Port, Airport & Marina Revenue (Terminal 4 John F. Kennedy International Airport Project) 5.000%  12/1/25      3,240      3,291
  New York Transportation Development Corp. Port, Airport & Marina Revenue (Terminal 4 John F. Kennedy International Airport Project) 5.000%  12/1/26      3,675      3,801
  New York Transportation Development Corp. Port, Airport & Marina Revenue (Terminal 4 John F. Kennedy International Airport Project) 5.000%  12/1/27      3,085      3,245
  New York Transportation Development Corp. Port, Airport & Marina Revenue (Terminal 4 John F. Kennedy International Airport Project) 5.000%  12/1/28      2,085      2,225
  New York Transportation Development Corp. Port, Airport & Marina Revenue (Terminal 4 John F. Kennedy International Airport Project) 5.000%  12/1/29      1,000      1,079
  New York Transportation Development Corp. Port, Airport & Marina Revenue (Terminal 4 John F. Kennedy International Airport Project) 5.000%  12/1/30      4,160      4,537
5 Nuveen New York AMT-Free Quality Municipal Income Fund VRDO VRDP 2.700%   2/3/25     24,600     24,600
5 Nuveen New York AMT-Free Quality Municipal Income Fund VRDO VRDP 2.300%   2/6/25     40,100     40,100
  Ogdensburg NY BAN GO 4.500%   3/7/25      1,550      1,551
  Oneida County Local Development Corp. College & University Revenue (Utica College Project) 5.000%   7/1/29      1,105      1,117
3 Oneida County Local Development Corp. Health, Hospital, Nursing Home Revenue (Mohawk Valley Health System Project) 5.000%  12/1/26        830        858
3 Oneida County Local Development Corp. Health, Hospital, Nursing Home Revenue (Mohawk Valley Health System Project) 5.000%  12/1/27        840        882
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/25        510        512
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/27        565        582
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/29        625        655
3 Oriskany Central School District GO 2.375%  6/15/30        285        258
3 Oyster Bay NY GO 2.000%   3/1/26      4,945      4,861
3 Oyster Bay NY GO 2.000%   3/1/27      5,045      4,848
3 Oyster Bay NY GO 5.000%   8/1/27      1,000      1,054
3 Oyster Bay NY GO 2.000%   3/1/28      5,145      4,847
3 Oyster Bay NY GO 5.000%   8/1/28      1,500      1,611
3 Oyster Bay NY GO 2.000%   3/1/29      5,250      4,844
3 Oyster Bay NY GO 5.000%   8/1/29      1,700      1,855
  Pleasantville NY Union Free School District GO 2.500%  4/15/29        270        252
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  12/1/25      1,835      1,857
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  12/1/26      4,655      4,774
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  12/1/26     13,785     14,382
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 12/15/26        510        511
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%   5/1/27        220        221
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  12/1/27      6,750      7,000
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  12/1/27      7,890      8,400
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  12/1/28      5,000      5,237
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  12/1/28      2,815      3,053
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%   5/1/30      1,000      1,005
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  12/1/30      5,745      6,112
  Sachem Central School District GO 4.000% 10/15/26      3,245      3,246
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/25        440        444
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/26        680        699
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/27        485        508
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/28        500        532
3 South Washington County MN Independent School District No. 833 GO 2.750%  6/15/29        210        196
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) PUT 1.550%   3/1/25        200        200
1 Suffolk County NY GO 4.000% 10/15/27      7,925      8,212
1 Suffolk County NY GO 4.000%   4/1/32      4,780      4,875
1 Suffolk County NY GO 3.000%  6/15/32      4,000      3,834
  Suffolk Tobacco Asset Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/25      1,250      1,255
  Suffolk Tobacco Asset Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/26      1,200      1,224
  Suffolk Tobacco Asset Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/30      1,500      1,604
  Suffolk Tobacco Asset Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/31      1,095      1,180
  Terryville Fire District BAN GO 4.500% 11/21/25      5,650      5,685
  Tompkins County Development Corp. College & University Revenue 5.000%   7/1/26        400        403
  Tompkins County Development Corp. Health, Hospital, Nursing Home Revenue (Kendal At Ithaca Inc. Project) 4.000%   7/1/25      1,025      1,025
  Tompkins County Development Corp. Health, Hospital, Nursing Home Revenue (Kendal At Ithaca Inc. Project) 4.000%   7/1/26        450        451
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Tompkins County Development Corp. Health, Hospital, Nursing Home Revenue (Kendal At Ithaca Inc. Project) 4.000%   7/1/27        455        457
  Tompkins County Development Corp. Health, Hospital, Nursing Home Revenue (Kendal At Ithaca Inc. Project) 4.000%   7/1/28        460        463
  Tompkins County Development Corp. Health, Hospital, Nursing Home Revenue (Kendal At Ithaca Inc. Project) 4.000%   7/1/29        470        475
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/27        425        446
  Triborough Bridge & Tunnel Authority Highway Revenue 0.000% 11/15/30      2,000      1,630
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/26     28,000     28,833
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/26      5,655      5,887
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/27      8,700      9,191
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/27      3,265      3,468
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/28     30,000     32,165
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  12/1/28      1,000      1,078
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/29     15,215     16,594
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  12/1/29        505        554
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/30     15,995     17,735
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  12/1/30      1,500      1,670
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue PUT 5.000% 11/15/25     10,575     10,759
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue PUT 2.000%  5/15/26      9,770      9,560
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue PUT 5.000%  5/15/26     25,235     25,913
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue PUT 2.000%  5/15/28     27,135     25,556
2 Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue, 67% of SOFR + 1.050% 3.965%   4/1/26      6,350      6,348
  Troy Capital Resource Corp. College & University Revenue (Rensselaer Polytechnic Institute Project) 5.000%   9/1/25      4,600      4,650
  Troy Capital Resource Corp. College & University Revenue (Rensselaer Polytechnic Institute Project) 5.000%   8/1/26        150        152
  Troy Capital Resource Corp. College & University Revenue (Rensselaer Polytechnic Institute Project) 5.000%   8/1/27      1,350      1,373
  Troy Capital Resource Corp. College & University Revenue (Rensselaer Polytechnic Institute Project) 5.000%   9/1/27      2,325      2,426
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/26      4,990      5,086
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/27      2,780      2,870
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/28      4,025      4,152
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/29      3,775      3,890
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/31      3,980      4,094
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/32      1,000      1,027
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/33      6,790      6,965
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000%  6/15/28     15,000     15,438
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000% 12/15/28     15,000     15,591
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000%  6/15/29     15,000     15,714
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000% 12/15/29     15,000     15,867
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000% 12/15/33      5,000      5,078
  Vails Gate Fire District BAN GO 4.000%  3/28/25      5,500      5,504
  Valhalla Union Free School District GO 2.750% 10/15/30        260        242
  Valley Stream NY BAN GO 4.500%   5/9/25      2,935      2,944
  Wellsville Central NY School District BAN GO 4.250%  6/27/25      3,355      3,368
  West Seneca NY BAN GO 4.000%   2/7/25      4,341      4,341
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/26      1,920      1,915
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/27      1,185      1,183
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/28      2,280      2,277
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/30      1,100      1,100
3 Yonkers NY GO 5.000%   9/1/30      4,365      4,411
                                   3,410,967
North Carolina (1.0%)
  Asheville Housing Authority Local or Guaranteed Housing Revenue PUT 5.000%  11/1/25      1,475      1,494
  Asheville Housing Authority Local or Guaranteed Housing Revenue PUT 5.000%   4/1/27     11,195     11,582
  Charlotte-Mecklenburg Hospital Authority Health, Hospital, Nursing Home Revenue PUT 0.800% 10/31/25      4,000      3,915
  Charlotte-Mecklenburg Hospital Authority Health, Hospital, Nursing Home Revenue PUT 3.450% 10/31/25      7,495      7,516
  Charlotte-Mecklenburg Hospital Authority Health, Hospital, Nursing Home Revenue PUT 3.250%  6/15/27      7,695      7,673
  Charlotte-Mecklenburg Hospital Authority Health, Hospital, Nursing Home Revenue PUT 3.625%  6/15/27      3,680      3,701
  Charlotte-Mecklenburg Hospital Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  12/1/28     10,850     11,574
  Charlotte-Mecklenburg Hospital Authority Health, Hospital, Nursing Home Revenue PUT 1.950%  11/1/29      8,995      8,185
  Charlotte-Mecklenburg Hospital Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  12/1/31      5,970      6,581
  Columbus County Industrial Facilities & Pollution Control Financing Authority Industrial Revenue (International Paper Co. Project) PUT 3.450%  10/1/31      1,100      1,088
  Columbus County Industrial Facilities & Pollution Control Financing Authority Industrial Revenue PUT 3.450%  10/1/31      1,400      1,385
3 Fayetteville State University Lease (Non-Terminable) Revenue (Student Housing Project) 5.000%   4/1/27        495        513
3 Fayetteville State University Lease (Non-Terminable) Revenue (Student Housing Project) 5.000%   4/1/28        520        545
3 Fayetteville State University Lease (Non-Terminable) Revenue (Student Housing Project) 5.000%   4/1/29        540        573
3 Fayetteville State University Lease (Non-Terminable) Revenue (Student Housing Project) 5.000%   4/1/31        595        642
  Forsyth County NC GO 3.000%   5/1/29      2,535      2,521
8 Inlivian Local or Guaranteed Housing Revenue PUT 5.000%  12/1/25      9,381      9,517
  Inlivian Local or Guaranteed Housing Revenue PUT 5.000%  10/1/26      8,160      8,330
  Inlivian Local or Guaranteed Housing Revenue PUT 4.750%   3/1/27      9,710      9,900
  Mecklenburg County NC GO 4.000%   4/1/29      5,000      5,082
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New Hanover County NC Health, Hospital, Nursing Home Revenue, Prere. 5.000%  10/1/27      2,665      2,807
  North Carolina Capital Facilities Finance Agency College & University Revenue 5.000%   5/1/26        275        281
  North Carolina Capital Facilities Finance Agency Resource Recovery Revenue (Republic Services Inc. Project) PUT 3.700%   3/3/25     20,500     20,504
  North Carolina Central University College & University Revenue 5.000%  10/1/26      2,120      2,159
  North Carolina Government Fund/Grant Revenue 5.000%   3/1/29      3,000      3,004
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 1.350%   7/1/29      1,835      1,625
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 2.300%   7/1/31      1,015        911
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%   7/1/47      1,560      1,563
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 4.250%   7/1/47      3,405      3,430
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%   1/1/50      3,935      3,949
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 3.750%   7/1/52      6,840      6,831
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 6.000%   7/1/53      7,160      7,645
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 5.500%   1/1/54      6,110      6,536
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue 5.750%   1/1/54      9,945     10,582
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.375%  7/15/25      1,700      1,700
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.200%  1/15/26     18,145     18,125
  North Carolina Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%   4/1/28      2,760      2,899
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 4.000%   3/1/25        130        130
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%   3/1/25        205        205
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 2.300%   9/1/25        495        489
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%  10/1/25        730        731
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      1,425      1,446
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 4.000%   1/1/26        245        243
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%   3/1/26        125        126
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%   3/1/26        220        222
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        700        718
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 2.550%   9/1/26      1,575      1,535
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 4.000%   9/1/26        865        862
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      1,545      1,594
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%   1/1/27        565        566
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        750        782
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 4.000%   9/1/27        900        894
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 4.000%  10/1/27        600        599
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%  12/1/27      1,000      1,005
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 4.250%  10/1/28        175        176
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%  10/1/30      2,795      2,795
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 5.000%  10/1/31      1,335      1,347
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue 4.000%  12/1/33      3,500      3,500
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue (Penick Village Project) 4.250%   9/1/28        365        365
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue (Penick Village Project) 4.750%   9/1/29        135        135
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue (Penick Village Project) 5.000%   9/1/34        390        400
  North Carolina Medical Care Commission Health, Hospital, Nursing Home Revenue PUT 5.000%   2/1/26      6,175      6,284
  North Carolina Turnpike Authority Highway Revenue 0.000%   7/1/28        750        652
  North Carolina Turnpike Authority Highway Revenue 5.000%   1/1/30      3,210      3,305
  North Carolina Turnpike Authority Highway Revenue 5.000%   1/1/32      1,080      1,109
  Pender County NC Appropriations Revenue 5.000%   4/1/29      1,115      1,207
  Pender County NC Appropriations Revenue 5.000%   4/1/30      1,400      1,539
  Pender County NC Appropriations Revenue 5.000%   4/1/31      1,020      1,136
  Raleigh Housing Authority Local or Guaranteed Housing Revenue PUT 5.000%   9/1/26      4,880      4,975
  Raleigh NC Combined Enterprise System Water Revenue 5.000%   9/1/29      1,000      1,097
  Salisbury NC Local or Guaranteed Housing Revenue PUT 5.000%   6/1/26      2,305      2,358
  Union County NC Enterprise System Water Revenue 1.375%   6/1/30      4,235      3,667
2 University of North Carolina at Chapel Hill College & University Revenue, 67% of SOFR + 0.650% 3.565%  12/1/34      2,275      2,274
2 University of North Carolina at Chapel Hill College & University Revenue, 67% of SOFR + 0.650% 3.565%  12/1/41     32,900     32,886
2 University of North Carolina at Chapel Hill College & University Revenue, 67% of SOFR + 0.650% 3.565%  12/1/41      7,075      7,072
  Wake County Housing Authority Local or Guaranteed Housing Revenue PUT 5.000%   6/1/27      6,670      6,865
  Winston-Salem State University Foundation LLC College & University Revenue 4.000%   4/1/25        520        521
  Winston-Salem State University Foundation LLC College & University Revenue 5.000%   4/1/26        550        562
  Winston-Salem State University Foundation LLC College & University Revenue 5.000%   4/1/27        580        603
  Winston-Salem State University Foundation LLC College & University Revenue 5.000%   4/1/28        415        438
                                     296,283
North Dakota (0.1%)
  Cass County Joint Water Resource District Intergovernmental Agreement Revenue 3.450%   4/1/27      6,685      6,672
  Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/25        105        106
  Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/26        135        138
3 Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/26        200        206
  Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/27      1,260      1,300
3 Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/27        200        209
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/28      2,625      2,733
3 Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/28        250        264
3 Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/29        675        721
  Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/30      1,500      1,580
3 Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/30        700        754
  Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/31        735        777
3 Grand Forks ND Health, Hospital, Nursing Home Revenue 5.000%  12/1/31        650        705
  Horace ND GO 5.000%   5/1/27        475        490
  Horace ND GO 5.000%   5/1/29        670        700
  Horace ND GO 5.000%   5/1/30        530        558
  Horace ND GO 5.000%   5/1/33        610        652
  North Dakota Housing Finance Agency Local or Guaranteed Housing Revenue 2.550%   1/1/30      1,315      1,232
  North Dakota Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%   1/1/53      7,285      7,325
  North Dakota Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   1/1/53      3,385      3,496
  North Dakota Housing Finance Agency Local or Guaranteed Housing Revenue (Home Mortgage Finance Program) 3.500%   7/1/46        820        817
  North Dakota Housing Finance Agency Local or Guaranteed Housing Revenue (Home Mortgage Finance Program) 4.000%   7/1/47        465        466
  North Dakota Housing Finance Agency Local or Guaranteed Housing Revenue (Housing Finance Program) 5.750%   7/1/53      3,530      3,739
  North Dakota Public Finance Authority Appropriations Revenue (Capital Financing Program) 5.000%   6/1/32        780        784
  Ward County ND Health, Hospital, Nursing Home Revenue 5.000%   6/1/30      1,765      1,818
  West Fargo ND GO 4.000%   5/1/27        425        431
  Williston Basin School District No. 7 GO 5.000%   8/1/28      1,230      1,310
  Williston Basin School District No. 7 GO 5.000%   8/1/29      1,290      1,392
  Williston Basin School District No. 7 GO 5.000%   8/1/30      1,355      1,483
                                      42,858
Ohio (2.1%)
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/25        200        202
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/25        250        253
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        500        514
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        575        591
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        375        388
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/27        985      1,025
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/27        650        684
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/28        700        749
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/29        230        244
  Akron Bath Copley Joint Township Hospital District Health, Hospital, Nursing Home Revenue 5.000% 11/15/29        700        760
  Akron OH Income Tax Revenue 4.000%  12/1/26        620        632
  Akron OH Income Tax Revenue 4.000%  12/1/26        935        954
  Akron OH Income Tax Revenue 4.000%  12/1/28      2,380      2,458
  Akron OH Income Tax Revenue 5.000%  12/1/30        505        523
  Akron OH Income Tax Revenue 5.000%  12/1/31      1,000      1,001
  Akron OH Income Tax Revenue 4.000%  12/1/32      1,000      1,027
  Allen County OH Hospital Facilities Health, Hospital, Nursing Home Revenue 5.000%   8/1/25     25,895     26,146
  Allen County OH Hospital Facilities Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      2,000      2,032
  Allen County OH Hospital Facilities Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      2,530      2,619
  Allen County OH Hospital Facilities Health, Hospital, Nursing Home Revenue 5.000%  12/1/27      4,000      4,219
  Allen County OH Hospital Facilities Revenue Health, Hospital, Nursing Home Revenue PUT 5.000%   8/3/27     19,945     20,708
  Allen County OH Hospital Facilities Revenue Health, Hospital, Nursing Home Revenue PUT 5.000%   6/4/30     30,305     32,536
  American Municipal Power Inc. Electric Power & Light Revenue (Combination Hydroelectric Projects) 4.000%  2/15/30        100        101
  American Municipal Power Inc. Electric Power & Light Revenue (Fremont Energy Center Project) 5.000%  2/15/29        500        537
  American Municipal Power Inc. Electric Power & Light Revenue (Prairie State Energy Campus Project) 5.000%  2/15/28      6,890      7,297
  American Municipal Power Inc. Electric Power & Light Revenue (Prairie State Energy Campus Project) 5.000%  2/15/29      4,750      5,101
  Bedford City School District GO 4.625%   3/6/25      1,625      1,627
  Blue Ash OH BAN GO 4.000%  3/26/25      3,985      3,989
  Bluffton OH Health, Hospital, Nursing Home Revenue 5.000%  12/1/30      1,715      1,783
  Buckeye Tobacco Settlement Financing Authority Tobacco Settlement Funded Revenue 5.000%   6/1/27      2,500      2,578
  Buckeye Tobacco Settlement Financing Authority Tobacco Settlement Funded Revenue 5.000%   6/1/28      5,625      5,867
  Buckeye Tobacco Settlement Financing Authority Tobacco Settlement Funded Revenue 5.000%   6/1/30      6,090      6,481
  Buckeye Tobacco Settlement Financing Authority Tobacco Settlement Funded Revenue 5.000%   6/1/32      2,000      2,121
11 Butler County OH GO 5.250%  12/1/26      1,050      1,075
  Butler County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/25      1,000      1,006
  Butler County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      4,015      4,077
  Butler County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      1,340      1,371
  Butler County OH Health, Hospital, Nursing Home Revenue 5.000%  5/15/29      1,000      1,081
  Butler County OH Health, Hospital, Nursing Home Revenue 3.300% 11/15/29      3,950      3,701
  Butler County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/30      1,625      1,651
  Butler County OH Health, Hospital, Nursing Home Revenue 4.000% 11/15/31      1,000        975
  Butler County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/31      4,100      4,160
  Butler County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/32      4,040      4,093
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 Celina City School District GO 5.000%  12/1/28        245        262
  Centerville OH BAN GO 4.250%   4/9/25      1,200      1,202
  Chillicothe OH Health, Hospital, Nursing Home Revenue 5.000%  12/1/25        950        963
3,5,12 Cincinnati City School District GO TOB VRDO 2.370%   2/6/25      5,000      5,000
3 Cleveland Department of Public Utilities Division of Public Power Electric Power & Light Revenue 5.000% 11/15/25        200        203
3 Cleveland OH Airport System Port, Airport & Marina Revenue 5.000%   1/1/26      2,255      2,257
3 Cleveland OH Airport System Port, Airport & Marina Revenue 5.000%   1/1/27      1,020      1,021
3 Cleveland OH Airport System Port, Airport & Marina Revenue 5.000%   1/1/31        100        100
  Cleveland OH GO 2.000%  12/1/25        300        296
  Cleveland OH GO 2.000%  12/1/27        460        442
  Cleveland OH GO 3.000%  12/1/27      1,480      1,481
  Cleveland OH GO 2.000%  12/1/28        615        581
  Cleveland State University College & University Revenue 5.000%   6/1/28        515        524
  Cleveland-Cuyahoga County Port Authority Local or Guaranteed Housing Revenue (Euclid Avenue Development Corp. Project) 5.000%   8/1/27      1,980      2,051
  Cleveland-Cuyahoga County Port Authority Local or Guaranteed Housing Revenue (Euclid Avenue Development Corp. Project) 5.000%   8/1/28      1,385      1,452
  Cleveland-Cuyahoga County Port Authority Local or Guaranteed Housing Revenue (Euclid Avenue Development Corp. Project) 5.000%   8/1/29      2,910      3,083
  Cleveland-Cuyahoga County Port Authority Recreational Revenue (The Cleveland Museum of Natural Heritage Project) 5.000%   7/1/25        150        151
  Cleveland-Cuyahoga County Port Authority Recreational Revenue (The Cleveland Museum of Natural Heritage Project) 5.000%   7/1/27        125        130
  Cleveland-Cuyahoga County Port Authority Recreational Revenue (The Cleveland Museum of Natural Heritage Project) 5.000%   7/1/28        155        164
  Cleveland-Cuyahoga County Port Authority Recreational Revenue (The Cleveland Museum of Natural Heritage Project) 5.000%   7/1/29        175        188
1 Cloverleaf Local School District COP 4.000%  12/1/26        270        274
1 Cloverleaf Local School District COP 4.000%  12/1/27        250        255
1 Cloverleaf Local School District COP 4.000%  12/1/28        220        226
  Columbus Metropolitan Housing Authority Local or Guaranteed Housing Revenue 1.000%   8/1/25        235        231
  Columbus Metropolitan Housing Authority Local or Guaranteed Housing Revenue 4.000%   8/1/27        300        303
  Columbus Metropolitan Housing Authority Local or Guaranteed Housing Revenue 4.000%   8/1/29        250        253
  Columbus Metropolitan Housing Authority Local or Guaranteed Housing Revenue (Orchards Project & The Eden Park Project) 4.000%  12/1/34      2,315      2,299
4 Columbus Regional Airport Authority Port, Airport & Marina Revenue 5.000%   1/1/30        650        710
4 Columbus Regional Airport Authority Port, Airport & Marina Revenue 5.000%   1/1/31        600        664
4 Columbus Regional Airport Authority Port, Airport & Marina Revenue 5.000%   1/1/32        575        645
  Columbus-Franklin County Finance Authority Local or Guaranteed Housing Revenue (Dering Family Homes Project) PUT 5.000%   2/1/27      3,500      3,594
5 Columbus-Franklin County Finance Authority Tax Increment/Allocation Revenue (Easton Project) 5.000%   6/1/28      7,380      7,440
  Cuyahoga County OH (Convention Hotel Project) COP 5.000%  12/1/26      4,515      4,516
  Cuyahoga County OH (Convention Hotel Project) COP 5.000%  12/1/28        575        575
  Cuyahoga County OH Health, Hospital, Nursing Home Revenue 5.000%  2/15/25      4,250      4,252
8 Cuyahoga Metropolitan Housing Authority Local or Guaranteed Housing Revenue PUT 4.000%   6/1/25      5,645      5,653
8 Cuyahoga Metropolitan Housing Authority Local or Guaranteed Housing Revenue PUT 4.750%  12/1/25      1,090      1,103
  Cuyahoga OH County Sales Tax Revenue (Ballpark Improvement Project) 4.000%   1/1/29      6,255      6,511
  Fairborn City School District GO 4.000%  12/1/28        180        186
  Franklin County Convention Facilities Authority Lease (Appropriation) Revenue (Greater Columbus Convention Center Hotel Expansion Project) 5.000%  12/1/26        250        259
  Franklin County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/25        420        421
  Franklin County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        970        975
  Franklin County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      1,015      1,025
  Franklin County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/28      1,065      1,080
  Franklin County OH Health, Hospital, Nursing Home Revenue 4.000%   7/1/29        265        265
  Franklin County OH Health, Hospital, Nursing Home Revenue 4.000%   7/1/30        875        869
  Franklin County OH Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      4,255      4,367
4 Franklin County OH Health, Hospital, Nursing Home Revenue PUT 3.550%   5/1/25      3,565      3,565
  Franklin County OH Health, Hospital, Nursing Home Revenue VRDO 2.200%   2/5/25      4,900      4,900
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%   2/1/25      1,585      1,585
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%   2/1/26      1,620      1,621
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%  9/15/26        500        507
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%  8/15/27     18,080     18,908
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%  9/15/27        600        616
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%   2/1/28        830        831
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%   2/1/29        800        801
  Hamilton County OH Health, Hospital, Nursing Home Revenue 5.000%   2/1/30      1,500      1,501
  Hamilton County OH Health, Hospital, Nursing Home Revenue (Life Enriching Communities Project) 5.000%   1/1/32      1,690      1,690
  Hamilton County OH Health, Hospital, Nursing Home Revenue VRDO 2.260%   2/6/25     32,490     32,490
  Hamilton County OH Sales Tax Revenue 4.000%  12/1/31      3,000      3,036
  Hamilton County OH Sales Tax Revenue 4.000%  12/1/32      3,000      3,030
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Hamilton County OH Sewer System Sewer Revenue 5.000%  12/1/25      2,500      2,547
  Hamilton County OH Sewer System Sewer Revenue 5.000%  12/1/26      7,090      7,378
  Hamilton County OH Sewer System Sewer Revenue 5.000%  12/1/26      2,250      2,341
  Hamilton County OH Sewer System Sewer Revenue 5.000%  12/1/28      1,750      1,888
  Hamilton County OH Sewer System Sewer Revenue 5.000%  12/1/30      1,000      1,113
  Hamilton County OH Sewer System Sewer Revenue 5.000%  12/1/31      1,250      1,409
  Hamilton OH BAN GO 4.000% 12/17/25      2,160      2,177
1 Hillsdale Local School District (Ohio School Facilities Project) COP 4.000%  12/1/25      1,150      1,159
1 Hillsdale Local School District (Ohio School Facilities Project) COP 4.000%  12/1/26      1,755      1,784
1 Hillsdale Local School District (Ohio School Facilities Project) COP 4.000%  12/1/27      1,845      1,887
  Lake County OH GO 4.000%  9/24/25      2,335      2,348
  Lake County OH Health, Hospital, Nursing Home Revenue, Prere. 5.000%  8/15/25      1,090      1,101
  Lancaster Port Authority Natural Gas Revenue PUT 5.000%   2/1/25     15,140     15,140
  Lebanon City School District GO 3.000%  12/1/25        170        170
  Lorain County OH BAN GO 4.375%   5/1/25      1,500      1,504
  Lorain County OH BAN GO 4.250%  12/5/25      1,505      1,506
1 Lorain OH GO 4.000%  12/1/26        350        356
1 Lorain OH GO 4.000%  12/1/27        350        358
1 Lorain OH GO 4.000%  12/1/28        280        287
  Mahoning County OH Sewer System Revenue Sewer Revenue 3.000%  12/1/26        125        125
  Mahoning County OH Sewer System Revenue Sewer Revenue 3.000%  12/1/27        100        100
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 4.000%   8/1/25         70         70
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/26        100        102
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/26        500        511
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/27        785        812
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/27        300        310
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/28        610        637
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/29        345        363
  Middleburg Heights OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/29      1,560      1,643
1 Midview Local School District COP 4.000%  11/1/27        500        513
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/25        400        404
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/25      4,150      4,203
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/26        750        770
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      4,940      5,082
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/27      1,115      1,163
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      5,000      5,197
  Montgomery County OH Health, Hospital, Nursing Home Revenue 1.750%   8/1/28      1,800      1,679
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/28        600        635
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000%   8/1/29        625        670
  Montgomery County OH Health, Hospital, Nursing Home Revenue 5.000% 11/15/35        725        755
  Muskingum County OH Health, Hospital, Nursing Home Revenue (Genesis Healthcare System Obligated Group Project) 5.000%  2/15/33      5,100      5,120
1 Northeast Ohio Medical University College & University Revenue 5.000%  12/1/25        165        167
1 Northeast Ohio Medical University College & University Revenue 5.000%  12/1/27        200        209
1 Northeast Ohio Medical University College & University Revenue 5.000%  12/1/28        220        233
  Northeast Ohio Regional Sewer District Sewer Revenue 5.000% 11/15/31      5,000      5,650
  Ohio Air Quality Development Authority Electric Power & Light Revenue (Duke Energy Corp. Project) PUT 4.000%   6/1/27     11,885     11,999
  Ohio Air Quality Development Authority Electric Power & Light Revenue (First Energy Generation Project) 3.375%   8/1/29        600        589
  Ohio Air Quality Development Authority Electric Power & Light Revenue (Ohio Valley Electric Corp. Program) 3.250%   9/1/29      9,045      8,823
  Ohio Air Quality Development Authority Electric Power & Light Revenue (The Dayton Power & Light Co. Project) PUT 4.000%   6/1/27     10,500     10,601
  Ohio GO 5.000%   5/1/29      1,000      1,088
  Ohio GO 5.000%   5/1/30      1,000      1,106
  Ohio GO 5.000%   5/1/31      1,115      1,120
  Ohio GO 5.000%   5/1/35      1,000      1,004
  Ohio Health, Hospital, Nursing Home Revenue 5.000%  1/15/26      1,500      1,523
  Ohio Health, Hospital, Nursing Home Revenue 5.000% 11/15/26        145        149
  Ohio Health, Hospital, Nursing Home Revenue 5.000%  1/15/27        500        517
  Ohio Health, Hospital, Nursing Home Revenue 5.000% 11/15/27        295        305
  Ohio Health, Hospital, Nursing Home Revenue 4.000%  1/15/28      1,190      1,212
  Ohio Health, Hospital, Nursing Home Revenue 5.000%  1/15/28      1,040      1,058
  Ohio Health, Hospital, Nursing Home Revenue 5.000% 11/15/32      1,025      1,080
  Ohio Health, Hospital, Nursing Home Revenue 5.000% 11/15/33        500        527
  Ohio Health, Hospital, Nursing Home Revenue PUT 5.000%  8/15/32      5,000      5,505
  Ohio Health, Hospital, Nursing Home Revenue VRDO 1.550%   2/3/25     20,000     20,000
  Ohio Health, Hospital, Nursing Home Revenue VRDO 2.500%   2/3/25      8,790      8,790
  Ohio Higher Educational Facility Commission College & University Revenue 5.000%  12/1/25      2,000      2,035
  Ohio Higher Educational Facility Commission College & University Revenue 5.000%  12/1/26      1,535      1,538
  Ohio Higher Educational Facility Commission College & University Revenue (Capital University 2022 Project) 5.000%   9/1/27        650        662
  Ohio Higher Educational Facility Commission College & University Revenue (Capital University 2022 Project) 5.000%   9/1/28        680        696
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Ohio Higher Educational Facility Commission College & University Revenue (Capital University 2022 Project) 5.000%   9/1/29        715        734
  Ohio Higher Educational Facility Commission College & University Revenue (Capital University 2022 Project) 5.000%   9/1/31        795        816
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2020 Project) 5.000%  10/1/26        350        358
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2020 Project) 5.000%  10/1/27        735        757
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2020 Project) 5.000%  10/1/28        400        415
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2022 Project) 5.000%  10/1/27        700        721
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2022 Project) 5.000%  10/1/28        375        389
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2022 Project) 5.000%  10/1/29        450        470
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2022 Project) 5.000%  10/1/30      1,000      1,052
  Ohio Higher Educational Facility Commission College & University Revenue (John Carroll University 2022 Project) 5.000%  10/1/31        645        680
  Ohio Higher Educational Facility Commission College & University Revenue (Kenyon College Project) 5.000%   7/1/25        260        262
  Ohio Higher Educational Facility Commission College & University Revenue (Otterbein University 2022 Project) 5.000%  12/1/26        100        102
  Ohio Higher Educational Facility Commission College & University Revenue (Otterbein University 2022 Project) 5.000%  12/1/28        395        412
  Ohio Higher Educational Facility Commission College & University Revenue (Otterbein University Project), ETM 5.000%  12/1/25      1,290      1,313
  Ohio Higher Educational Facility Commission College & University Revenue (Tiffin University 2019 Project) 3.000%  11/1/28        655        611
  Ohio Higher Educational Facility Commission College & University Revenue (Tiffin University 2019 Project) 5.000%  11/1/34      1,645      1,635
  Ohio Higher Educational Facility Commission College & University Revenue (University Findlay Project) 5.000%   3/1/29      1,440      1,460
  Ohio Higher Educational Facility Commission College & University Revenue (University Findlay Project) 5.000%   3/1/34      2,000      2,009
  Ohio Higher Educational Facility Commission College & University Revenue (University of Dayton 2020 Project) 5.000%   2/1/28        250        264
  Ohio Higher Educational Facility Commission College & University Revenue (University of Dayton 2022 Project) 5.000%   2/1/25        905        905
  Ohio Higher Educational Facility Commission College & University Revenue (University of Dayton 2022 Project) 5.000%   2/1/26        950        968
  Ohio Higher Educational Facility Commission College & University Revenue (University of Dayton 2022 Project) 5.000%   2/1/27        500        519
  Ohio Higher Educational Facility Commission College & University Revenue (University of Dayton 2022 Project) 5.000%   2/1/28        525        554
  Ohio Higher Educational Facility Commission College & University Revenue (University of Dayton 2022 Project) 5.000%   2/1/29      1,105      1,182
  Ohio Higher Educational Facility Commission College & University Revenue (Xavier University 2024 Project) 5.000%   5/1/25        235        236
  Ohio Higher Educational Facility Commission College & University Revenue (Xavier University 2024 Project) 5.000%   5/1/26        515        526
  Ohio Higher Educational Facility Commission College & University Revenue (Xavier University 2024 Project) 5.000%   5/1/27        145        151
  Ohio Higher Educational Facility Commission College & University Revenue (Xavier University 2024 Project) 5.000%   5/1/28        180        189
  Ohio Higher Educational Facility Commission College & University Revenue (Xavier University 2024 Project) 5.000%   5/1/29        170        181
  Ohio Higher Educational Facility Commission College & University Revenue (Xavier University 2024 Project) 5.000%   5/1/30        275        296
  Ohio Higher Educational Facility Commission College & University Revenue (Xavier University 2024 Project) 5.000%   5/1/31        280        304
  Ohio Higher Educational Facility Commission College & University Revenue PUT 1.625%  12/1/26      6,000      5,774
2 Ohio Higher Educational Facility Commission College & University Revenue, SIFMA Municipal Swap Index Yield + 0.230% 2.480%  12/1/42      2,670      2,638
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/25        765        767
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/26        180        182
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/26        930        938
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/27        185        187
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/27      1,000      1,013
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/28        190        193
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/28      1,000      1,017
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/29        400        411
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 4.000%   7/1/29      1,000      1,021
  Ohio Higher Educational Facility Commission Health, Hospital, Nursing Home Revenue 5.000%   1/1/31        515        542
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue 4.500%   9/1/48      3,855      3,888
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%   3/1/52      1,415      1,388
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   3/1/52      5,755      5,935
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue 5.500%   3/1/53      3,785      3,982
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue 6.250%   3/1/55      2,045      2,234
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue 6.250%   3/1/55      7,370      8,140
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue (Mortgage-Backed Securities Program) 3.250%   9/1/52      2,415      2,379
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue (Mortgage-Backed Securities Program) 6.000%   3/1/55      5,520      6,028
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue (Ronez Manor Apartments Project) PUT 3.800%   5/1/25      5,650      5,651
8 Ohio Housing Finance Agency Local or Guaranteed Housing Revenue (Springboro Sherman Apartments Project) PUT 3.530%   2/1/27      1,600      1,611
  Ohio Housing Finance Agency Local or Guaranteed Housing Revenue PUT 5.000%   2/1/27      6,824      6,980
  Ohio Lease (Appropriation) Revenue (Building Funding Projects) 5.000%  10/1/25      1,090      1,106
  Ohio Lease (Appropriation) Revenue (Improvement Funding Projects) 5.000%  12/1/25      2,300      2,343
  Ohio Resource Recovery Revenue (Republic Services Inc. Project) PUT 3.700%   3/3/25      3,500      3,501
  Ohio Turnpike & Infrastructure Commission Highway Revenue 5.000%  2/15/29      3,660      3,952
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%   6/1/26      9,495      9,787
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/26      9,425      9,821
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%   6/1/27      4,360      4,584
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/27      4,565      4,846
  Reading Community City School District GO 3.000%  11/1/30        590        568
  Ross County OH Health, Hospital, Nursing Home Revenue 5.000%  12/1/25        630        639
  Ross County OH Health, Hospital, Nursing Home Revenue 5.000%  12/1/26      1,155      1,185
  Ross County OH Health, Hospital, Nursing Home Revenue 5.000%  12/1/27        545        568
  Scioto County OH Health, Hospital, Nursing Home Revenue 5.000%  2/15/27      2,840      2,878
  Scioto County OH Health, Hospital, Nursing Home Revenue 5.000%  2/15/28      2,490      2,520
  Scioto County OH Health, Hospital, Nursing Home Revenue 5.000%  2/15/32        745        753
  Scioto County OH Health, Hospital, Nursing Home Revenue 5.000%  2/15/33      1,860      1,878
  Scioto County OH Health, Hospital, Nursing Home Revenue 5.000%  2/15/34      4,895      4,939
1 Sharonville OH Special Obligation Revenue 4.000%  12/1/26        925        942
1 Sharonville OH Special Obligation Revenue 4.000%  12/1/27        970        995
1 Sharonville OH Special Obligation Revenue 4.000%  12/1/28        725        748
3 Toledo OH GO 5.000%  12/1/25      1,435      1,460
3 Toledo OH GO 5.000%  12/1/30      1,200      1,312
  Toledo-Lucas County Port Authority Local or Guaranteed Housing Revenue 5.000%   7/1/29      2,250      2,250
  University of Akron College & University Revenue 5.000%   1/1/26        480        481
  University of Akron College & University Revenue 4.000%   1/1/27      3,000      3,046
  University of Akron College & University Revenue 5.000%   1/1/29      6,120      6,129
  University of Akron College & University Revenue 5.000%   1/1/30      6,050      6,059
  University of Akron College & University Revenue 5.000%   1/1/32      1,315      1,343
5 University of Toledo College & University Revenue TOB VRDO 2.050%   2/3/25      4,390      4,390
  Warren County OH Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        800        818
1 Wright State University College & University Revenue 5.000%   5/1/27        545        567
3 Youngstown State University College & University Revenue 4.000% 12/15/27      1,620      1,661
3 Youngstown State University College & University Revenue 4.000% 12/15/28      1,250      1,288
                                     644,750
Oklahoma (0.3%)
  Canadian County Educational Facilities Authority Lease (Appropriation) Revenue (Piedmont Public Schools Project) 5.000%  8/15/30      1,045      1,135
  Canadian County Educational Facilities Authority Lease (Appropriation) Revenue (Piedmont Public Schools Project) 5.000%  8/15/31      2,260      2,478
  Lincoln County Educational Facilities Authority Lease (Appropriation) Revenue (Stroud Public Schools Project) 5.000%   9/1/29      1,310      1,344
  Lincoln County Educational Facilities Authority Lease (Appropriation) Revenue (Stroud Public Schools Project) 5.000%   9/1/30      1,070      1,097
  Muskogee Industrial Trust Lease (Appropriation) Revenue (Muskogee Public Schools Project) 4.000%   9/1/30      2,000      1,999
  Norman Regional Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/29      2,680      2,522
  Norman Regional Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/30      5,130      4,773
  Norman Regional Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/31      2,030      1,868
  Oklahoma Capitol Improvement Authority Appropriations Revenue 4.000%   7/1/32      1,145      1,157
1 Oklahoma County Finance Authority Lease (Appropriation) Revenue (MidWest City-Del City Public Schools Project) 5.000%  10/1/29      1,000      1,081
  Oklahoma County Independent School District No. 89 Oklahoma City GO 4.000%   7/1/28     22,260     22,996
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/25        950        956
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26      1,805      1,817
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/27      2,005      2,019
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/29      1,250      1,259
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/30        900        906
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue (OU Medicine Project) 5.000%  8/15/25      3,475      3,477
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue (OU Medicine Project) 5.000%  8/15/26      2,400      2,439
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue (OU Medicine Project) 5.000%  8/15/27      2,645      2,722
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue (OU Medicine Project) 5.000%  8/15/28      4,400      4,569
  Oklahoma Development Finance Authority Health, Hospital, Nursing Home Revenue (OU Medicine Project) 5.000%  8/15/33        275        284
4 Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/32      2,000      2,189
  Oklahoma Turnpike Authority Highway Revenue 4.000%   1/1/33      1,000      1,006
  Pontotoc County Educational Facilities Authority Lease (Appropriation) Revenue (ADA Public School Project) 4.000%   9/1/26        200        202
  Pontotoc County Educational Facilities Authority Lease (Appropriation) Revenue (ADA Public School Project) 4.000%   9/1/27      1,010      1,028
  Pontotoc County Educational Facilities Authority Lease (Appropriation) Revenue (ADA Public School Project) 4.000%   9/1/29        275        281
  Stillwater Utilities Authority Multiple Utility Revenue 5.000%  10/1/32      1,245      1,246
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Tulsa Airports Improvement Trust Port, Airport & Marina Revenue 5.000%   6/1/25      1,090      1,097
  Tulsa Airports Improvement Trust Port, Airport & Marina Revenue 5.000%   6/1/26      1,030      1,057
  Tulsa County Independent School District No. 4 Bixby GO 4.000%   6/1/25     10,500     10,536
  Tulsa County Industrial Authority Health, Hospital, Nursing Home Revenue (Montereau Inc. Project) 5.000% 11/15/28        600        610
  Tulsa County Industrial Authority Health, Hospital, Nursing Home Revenue (Montereau Inc. Project) 5.000% 11/15/29        400        407
  Tulsa County Industrial Authority Lease (Appropriation) Revenue 4.000%   9/1/30      1,210      1,246
  Tulsa County Industrial Authority Lease (Appropriation) Revenue 4.000%   9/1/31      4,720      4,862
  Tulsa County Industrial Authority Sales Tax Revenue 4.000%  12/1/25      3,860      3,896
  Tulsa County Industrial Authority Sales Tax Revenue 4.000%  12/1/31      1,500      1,517
  University of Oklahoma College & University Revenue 5.000%   7/1/25        290        293
  University of Oklahoma College & University Revenue 5.000%   7/1/27        435        455
  University of Oklahoma College & University Revenue 3.400%   7/1/28      3,970      3,946
  University of Oklahoma College & University Revenue 5.000%   7/1/28        500        515
  University of Oklahoma College & University Revenue 5.000%   7/1/28        455        483
  University of Oklahoma College & University Revenue 3.750%   7/1/30      4,195      4,196
                                     103,966
Oregon (0.7%)
  Benton & Polk School District No. 17J GO 0.000%  6/15/29      2,500      2,141
  Clackamas County School District No. 115 GO 0.000%  6/15/27      3,575      3,319
  Deschutes & Jefferson Counties School District No. 2J Redmond GO 0.000%  6/15/28      1,250      1,115
  Deschutes County Hospital Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/26        200        203
  Deschutes County Hospital Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/27        300        308
  Deschutes County Hospital Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/28        300        311
  Forest Grove OR College & University Revenue 5.000%   5/1/26        335        339
  Forest Grove OR College & University Revenue 5.000%   5/1/28      1,255      1,290
  Medford Hospital Facilities Authority Health, Hospital, Nursing Home Revenue (Asante Project) 5.000%  8/15/25        300        303
  Medford Hospital Facilities Authority Health, Hospital, Nursing Home Revenue (Asante Project) 5.000%  8/15/26      1,945      1,997
  Medford Hospital Facilities Authority Health, Hospital, Nursing Home Revenue (Asante Project) 5.000%  8/15/27      1,040      1,086
5 Medford Hospital Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.370%   2/6/25      4,000      4,000
  Multnomah & Clackamas Counties OR School District No. 51JT Riverdale GO 0.000%  6/15/30      1,210      1,008
  Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow GO 5.000%  6/15/25      3,125      3,150
  Multnomah County OR GO 5.000%  6/15/27     25,000     26,321
  Multnomah County OR Hospital Facilities Authority Health, Hospital, Nursing Home Revenue, PUT 5.000%   3/1/25     11,460     11,468
  Multnomah County OR School District No. 1 Portland GO 3.000%  6/15/32      5,815      5,658
  Multnomah County School District No. 40 GO 0.000%  6/15/27        500        462
  Multnomah County School District No. 40 GO 0.000%  6/15/28        500        446
  Multnomah County School District No. 40 GO 0.000%  6/15/29        500        430
  Multnomah County School District No. 40 GO 0.000%  6/15/30        500        414
  Oregon (Articale XI-Q State Projects) GO 5.000%   5/1/27      1,000      1,050
  Oregon (Articale XI-Q State Projects) GO 5.000%   5/1/28      3,270      3,496
  Oregon (Articale XI-Q State Projects) GO 5.000%   5/1/29      2,710      2,948
  Oregon Department of Transportation Appropriations Revenue 5.000%  5/15/27      1,200      1,260
  Oregon Department of Transportation Appropriations Revenue 5.000%  5/15/28      2,375      2,539
  Oregon Department of Transportation Appropriations Revenue 5.000%  5/15/29      1,000      1,087
  Oregon Department of Transportation Appropriations Revenue 5.000%  5/15/30      1,320      1,459
  Oregon Department of Transportation Appropriations Revenue 5.000%  5/15/31      3,000      3,360
  Oregon GO 2.000%   8/1/25      2,545      2,529
  Oregon GO 5.000%   6/1/28      5,000      5,354
  Oregon GO 5.000%   5/1/29      2,000      2,010
  Oregon GO 4.000%   8/1/33      1,650      1,677
  Oregon GO 5.000%  12/1/52      1,255      1,300
  Oregon GO 5.500%  12/1/53      3,790      4,055
  Oregon Health & Science University Health, Hospital, Nursing Home Revenue PUT 5.000%   2/1/30     10,215     10,927
5 Oregon Health & Science University Health, Hospital, Nursing Home Revenue TOB VRDO 2.400%   2/6/25      4,000      4,000
  Oregon Housing & Community Services Department Local or Guaranteed Housing Revenue 4.750%   1/1/50      1,675      1,694
  Oregon Housing & Community Services Department Local or Guaranteed Housing Revenue 3.500%   1/1/51      4,190      4,158
  Oregon Housing & Community Services Department Local or Guaranteed Housing Revenue 4.000%   7/1/51      3,515      3,535
  Oregon Housing & Community Services Department Local or Guaranteed Housing Revenue (Hollywood Hub Apartments Project) PUT 4.000%   1/1/29      2,835      2,861
  Oregon Housing & Community Services Department Local or Guaranteed Housing Revenue (Single Family Mortgage Program) 4.500%   7/1/49      5,480      5,517
  Oregon State Business Development Commission Industrial Revenue (Intel Corp. Project) PUT 3.800%  6/15/28     15,110     15,257
  Oregon State Facilities Authority Health, Hospital, Nursing Home Revenue (Legacy Health Project) 5.000%   6/1/30     12,455     13,315
  Oregon State Facilities Authority Health, Hospital, Nursing Home Revenue (Samaritan Health Services Project) 5.000%  10/1/25        425        428
  Oregon State Facilities Authority Health, Hospital, Nursing Home Revenue (Samaritan Health Services Project) 5.000%  10/1/26        300        306
  Oregon State Facilities Authority Health, Hospital, Nursing Home Revenue (Samaritan Health Services Project) 5.000%  10/1/27        285        295
  Oregon State Lottery Revenue 5.000%   4/1/29      1,510      1,515
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Oregon Tri-County Metropolitan Transportation Government Fund/Grant Revenue 5.000%  10/1/25      5,110      5,179
  Pendleton OR GO 3.000%  6/15/30        250        242
  Port of Morrow OR GO 4.000%   6/1/25        165        165
  Port of Morrow OR GO 4.000%  12/1/25        150        151
  Port of Morrow OR GO 4.000%   6/1/26        170        172
  Port of Morrow OR GO 4.000%  12/1/26        170        172
  Port of Morrow OR GO 4.000%   6/1/27        535        544
  Port of Morrow OR GO 4.000%  12/1/27        240        245
  Port of Morrow OR GO 4.000%   6/1/28      1,105      1,129
  Port of Morrow OR GO 4.000%  12/1/28      1,045      1,070
  Port of Portland OR Airport Port, Airport & Marina Revenue 5.000%   7/1/26        650        663
  Port of Portland OR Airport Port, Airport & Marina Revenue 5.000%   7/1/31      2,900      3,221
  Portland Community College District GO 5.000%  6/15/28      1,770      1,821
  Portland OR Sewer System Sewer Revenue 4.500%   5/1/30      2,975      3,027
4 Portland OR Sewer System Sewer Revenue 5.000%   6/1/30      1,770      1,953
4 Portland OR Sewer System Sewer Revenue 5.000%  10/1/30      1,750      1,946
4 Portland OR Sewer System Sewer Revenue 5.000%   6/1/31     10,600     11,883
4 Portland OR Sewer System Sewer Revenue 5.000%  10/1/31      3,360      3,787
4 Portland OR Sewer System Sewer Revenue 5.000%  10/1/32      2,235      2,548
  Portland OR Sewer System Sewer Revenue 4.500%   5/1/33     11,435     11,594
  Salem Hospital Facility Authority Health, Hospital, Nursing Home Revenue (Capital Manor Project) 5.000%  5/15/25        115        115
  Salem-Keizer School District No. 24J GO 5.000%  6/15/25      1,025      1,033
  Salem-Keizer School District No. 24J GO 0.000%  6/15/27      5,000      4,632
  Seaside School District No. 10 GO 5.000%  6/15/31      1,000      1,046
  Union County Hospital Facility Authority Health, Hospital, Nursing Home Revenue (Grande Ronde Hospital Project) 5.000%   7/1/25        100        100
  Union County Hospital Facility Authority Health, Hospital, Nursing Home Revenue (Grande Ronde Hospital Project) 5.000%   7/1/26        100        102
  Union County Hospital Facility Authority Health, Hospital, Nursing Home Revenue (Grande Ronde Hospital Project) 5.000%   7/1/27        150        154
  Union County Hospital Facility Authority Health, Hospital, Nursing Home Revenue (Grande Ronde Hospital Project) 5.000%   7/1/28        225        234
  Union County Hospital Facility Authority Health, Hospital, Nursing Home Revenue (Grande Ronde Hospital Project) 5.000%   7/1/29        250        261
  Union County Hospital Facility Authority Health, Hospital, Nursing Home Revenue (Grande Ronde Hospital Project) 5.000%   7/1/30        320        336
  Washington & Multnomah Counties School District No. 48J Beaverton GO 5.000%  6/15/28      1,130      1,211
  Washington & Multnomah Counties School District No. 48J Beaverton GO 5.000%  6/15/29      1,000      1,088
  Yamhill County Hospital Authority Health, Hospital, Nursing Home Revenue 4.000% 11/15/26        630        618
  Yamhill County School District No. 40 McMinnville GO 4.000%  6/15/32      1,000      1,010
                                     227,153
Pennsylvania (3.9%)
  Adams County General Authority College & University Revenue 5.000%  8/15/25      1,405      1,418
  Adams County General Authority College & University Revenue 5.000%  8/15/26      1,480      1,520
  Adams County General Authority College & University Revenue 5.000%  8/15/27      1,225      1,271
  Adams County General Authority College & University Revenue 5.000%  8/15/28      1,635      1,716
  Adams County General Authority Health, Hospital, Nursing Home Revenue 3.600%   6/1/29        610        602
  Adams County General Authority Health, Hospital, Nursing Home Revenue 3.900%   6/1/30        975        960
  Allegheny County Higher Education Building Authority College & University Revenue 5.000% 10/15/26        230        230
  Allegheny County Higher Education Building Authority College & University Revenue 5.000%   9/1/27        530        532
  Allegheny County Higher Education Building Authority College & University Revenue 5.000%   3/1/28      1,825      1,925
  Allegheny County Higher Education Building Authority College & University Revenue 5.000%   9/1/28      1,555      1,561
  Allegheny County Higher Education Building Authority College & University Revenue 5.000%   3/1/29      1,100      1,119
  Allegheny County Higher Education Building Authority College & University Revenue 5.000%   9/1/29      1,690      1,695
  Allegheny County Higher Education Building Authority College & University Revenue 5.000%   9/1/30        900        902
  Allegheny County Higher Education Building Authority College & University Revenue 5.000%   9/1/31        925        924
  Allegheny County Higher Education Building Authority College & University Revenue 4.000%   3/1/33      2,120      2,132
2 Allegheny County Higher Education Building Authority College & University Revenue, 70% of SOFR + 0.290% 3.335%   2/1/33      4,065      4,027
  Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/25      9,500      9,525
9 Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue 6.000%   7/1/26        100        104
  Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/29      4,000      4,330
  Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/31      2,000      2,086
  Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/32      3,015      3,136
  Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/33      1,920      1,994
2 Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.480% 2.730% 11/15/25      5,195      5,170
2 Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.580% 2.830% 11/15/26      2,000      1,982
2 Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.700% 2.950% 11/15/47     93,785     93,012
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Allegheny County Sanitary Authority Sewer Revenue 5.000%  12/1/27        625        662
  Allegheny County Sanitary Authority Sewer Revenue 5.000%  12/1/28        530        570
  Allegheny County Sanitary Authority Sewer Revenue 5.000%  12/1/29      1,195      1,306
  Allegheny County Sanitary Authority Sewer Revenue 5.000%  12/1/30        350        388
  Allegheny County Sanitary Authority Sewer Revenue 5.000%  12/1/31        535        601
1 Allegheny Valley Joint Sewage Authority Sewer Revenue 4.000%   8/1/25        160        161
1 Allegheny Valley Joint Sewage Authority Sewer Revenue 4.000%   8/1/26        655        664
1 Allegheny Valley Joint Sewage Authority Sewer Revenue 5.000%   8/1/29        600        645
1 Allentown City School District GO 5.000%   2/1/25        955        955
1 Allentown City School District GO 3.000%   2/1/28        100         99
1 Allentown City School District GO 5.000%   2/1/29      2,245      2,361
1 Allentown City School District GO 5.000%   2/1/33      1,785      1,879
1 Allentown City School District GO 5.000%   6/1/35      1,875      1,912
  Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue 5.000%   5/1/25        870        874
  Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue 5.000%   5/1/26        950        968
  Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue 5.000%   5/1/27      1,950      2,016
  Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue 5.000%   5/1/28      2,345      2,453
5 Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue (City Center Project) 5.000%   5/1/27      7,150      7,314
5 Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue (City Center Project) 5.000%   5/1/28        815        835
5 Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue (City Center Project) 5.000%   5/1/28      7,230      7,363
5 Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue (City Center Project) 5.125%   5/1/32      3,690      3,740
1 Armstrong School District GO 3.000%  3/15/25        575        575
1 Armstrong School District GO 3.000%  3/15/26        875        873
1 Beaver County PA GO 5.000%  4/15/25      1,435      1,441
  Bensalem Township School District GO 4.000%   6/1/25        430        431
  Bethel Park School District GO 4.000%   8/1/31      2,500      2,530
2 Bethlehem Area School District Authority Intergovernmental Agreement Revenue, 67% of SOFR + 0.350% 3.265%   1/1/32      2,475      2,463
  Bethlehem Redevelopment Authority College & University Revenue (Moravian University Project) 5.000%  10/1/25        500        503
  Bethlehem Redevelopment Authority College & University Revenue (Moravian University Project) 5.000%  10/1/26        520        533
  Bethlehem Redevelopment Authority College & University Revenue (Moravian University Project) 5.000%  10/1/27      1,095      1,136
  Bethlehem Redevelopment Authority College & University Revenue (Moravian University Project) 5.000%  10/1/28        455        477
  Bethlehem Redevelopment Authority College & University Revenue (Moravian University Project) 5.000%  10/1/29      1,000      1,058
  Bethlehem Redevelopment Authority College & University Revenue (Moravian University Project) 5.000%  10/1/30        630        673
1 Bristol Township School District GO 5.000%   6/1/25        640        644
1 Bristol Township School District GO 5.000%   6/1/27        545        569
1 Bristol Township School District GO 4.000%   6/1/28        200        206
  Bucks County IDA Charter School Aid Revenue (Charter School Lane Project) 5.000%  3/15/26        390        391
  Bucks County IDA College & University Revenue (Delaware Valley University Project) 5.000%  11/1/25        450        452
  Bucks County IDA College & University Revenue (Delaware Valley University Project) 5.000%  11/1/26        470        475
  Bucks County IDA College & University Revenue (Delaware Valley University Project) 5.000%  11/1/27        585        594
  Bucks County IDA College & University Revenue (Delaware Valley University Project) 5.000%  11/1/28        785        799
  Bucks County IDA College & University Revenue (Delaware Valley University Project) 5.000%  11/1/29        825        842
  Bucks County IDA Health, Hospital, Nursing Home Revenue (Grand View Hospital Project) 5.000%   7/1/25      2,025      2,022
  Bucks County IDA Health, Hospital, Nursing Home Revenue (Grand View Hospital Project) 5.000%   7/1/26        250        250
  Bucks County IDA Health, Hospital, Nursing Home Revenue (Grand View Hospital Project) 5.000%   7/1/27        550        565
  Bucks County IDA Health, Hospital, Nursing Home Revenue (Grand View Hospital Project) 5.000%   7/1/28        550        570
  Butler County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,300      1,301
  Butler County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,910      1,911
  Butler County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      2,125      2,127
  Butler County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,065      1,066
  Butler County Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30        985        985
  Capital Region Water Revenue 5.000%  7/15/25      1,000      1,009
  Centre County Hospital Authority Health, Hospital, Nursing Home Revenue (Mount Nittany Medical Center Project) 5.000% 11/15/25      1,040      1,055
  Chambersburg Area School District GO 5.000%   3/1/25      1,220      1,223
  Chester County Health & Education Facilities Authority Health, Hospital, Nursing Home Revenue (Simpson Senior Services Project) 4.000%  12/1/25        180        176
  Chester County Health & Education Facilities Authority Miscellaneous Revenue 5.000%  11/1/25      1,000      1,007
  Chester County Health & Education Facilities Authority Miscellaneous Revenue 5.000%  11/1/26      1,010      1,028
  Chester County IDA Charter School Aid Revenue 5.000%   3/1/27      2,500      2,545
5 Chester County IDA Charter School Aid Revenue 5.000%  10/1/34        705        745
  Chester County IDA Charter School Aid Revenue (Collegium Charter School Project) 5.000% 10/15/27        985        994
1 Chester County IDA Local or Guaranteed Housing Revenue (University Student Housing LLC Project) 5.000%   8/1/28        880        926
1 Chester County IDA Local or Guaranteed Housing Revenue (University Student Housing LLC Project) 5.000%   8/1/29        925        983
1 Chester County IDA Local or Guaranteed Housing Revenue (University Student Housing LLC Project) 5.000%   8/1/30      2,560      2,744
1 Chester County IDA Local or Guaranteed Housing Revenue (University Student Housing LLC Project) 5.000%   8/1/31      2,685      2,904
1 Coatesville Area School District Building Authority Lease (Appropriation) Revenue 5.000%  12/1/25        390        391
  Commonwealth Financing Authority Appropriations Revenue 5.000%   6/1/26      1,585      1,629
  Commonwealth of Pennsylvania COP 5.000%   7/1/25        500        504
  Commonwealth of Pennsylvania GO 5.000%   9/1/27     10,000     10,557
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Commonwealth of Pennsylvania GO 5.000%  9/15/27        125        129
3 Commonwealth of Pennsylvania GO 4.000%  8/15/29      5,960      5,984
  Commonwealth of Pennsylvania GO 5.000%   9/1/29     22,250     24,280
  Commonwealth of Pennsylvania GO 5.000%  10/1/29     25,000     27,318
  Commonwealth of Pennsylvania GO 4.000%   1/1/30      1,705      1,732
  Cumberland County Municipal Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/31      2,500      2,676
5 Dauphin County General Authority College & University Revenue (The Harrisburg University of Science & Technology Project) 4.250% 10/15/26      1,790      1,694
5 Dauphin County General Authority College & University Revenue (The Harrisburg University of Science & Technology Project) 5.000% 10/15/34      3,930      3,249
  Dauphin County General Authority Health, Hospital, Nursing Home Revenue (Pinnacle Health System Project) 5.000%   6/1/28        255        261
  Dauphin County General Authority Health, Hospital, Nursing Home Revenue (Pinnacle Health System Project) 4.000%   6/1/31      1,145      1,153
  Dauphin County PA GO, ETM 5.000% 11/15/25      3,350      3,407
  Delaware County Authority College & University Revenue 5.000%  10/1/25        265        266
  Delaware Valley Regional Finance Authority Intergovernmental Agreement Revenue 4.000%   3/1/29      5,000      5,140
  Delaware Valley Regional Finance Authority Intergovernmental Agreement Revenue 5.000%   3/1/29      1,270      1,350
2 Delaware Valley Regional Finance Authority Intergovernmental Agreement Revenue, 67% of SOFR + 0.490% 3.405%   3/1/57     13,470     13,418
2 Delaware Valley Regional Finance Authority Intergovernmental Agreement Revenue, SIFMA Municipal Swap Index Yield + 0.400% 2.650%   3/1/57     15,495     15,382
11 Delaware Valley Regional Finance Authority Lease Revenue 5.500%   8/1/28      5,795      6,253
  Doylestown PA Hospital Authority Hospital Revenue 5.000%   7/1/28        580        580
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/25      1,910      1,922
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/25        360        362
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/25        650        654
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/26      1,460      1,489
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/26        635        648
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/27        795        820
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/27        600        619
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/28        850        885
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/28        355        370
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/29        910        942
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/29        380        398
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/30      2,000      2,057
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/31      1,450      1,488
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/32         75         79
  DuBois Hospital Authority Health, Hospital, Nursing Home Revenue 4.000%  7/15/33      1,730      1,712
  Erie County Conventional Center Authority Miscellaneous Revenue 5.000%  1/15/32      1,910      1,913
  Erie Higher Education Building Authority College & University Revenue (Gannon University Project - Aicup Financing Program) 5.000%   5/1/28        355        366
3 Erie School District GO 5.000%   4/1/25        475        476
3 Erie School District GO 5.000%   4/1/26        575        588
1,11 Erie Sewer Authority Lease Revenue 0.000%  12/1/25      2,155      2,095
  Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) 5.000%  12/1/25        500        501
  Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) 5.000%  12/1/26      1,070      1,076
  Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) 5.000%  12/1/27        650        657
  Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) 5.000%  12/1/28        630        639
  Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) 5.000%  12/1/30        910        921
  Geisinger Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  2/15/27     13,350     13,729
  Geisinger Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   4/1/30      4,120      4,423
3 Harrisburg School District GO 5.000% 11/15/25      5,085      5,169
  Hempfield Township PA GO 4.000% 10/15/28        240        248
5 Jefferson County PA Hospital Authority Health, Hospital, Nursing Home Revenue 4.500%  1/15/27      3,135      3,150
  Lackawanna County IDA College & University Revenue 5.000%  11/1/26      1,165      1,199
  Lackawanna County IDA College & University Revenue 5.000%  11/1/27        510        533
1 Lackawanna County PA GO 4.000%  3/15/25        300        300
1 Lackawanna County PA GO 4.000%  3/15/26        400        403
1 Lackawanna County PA GO 4.000%  3/15/27        500        506
5 Lackawanna County PA TRAN GO 3.750% 12/31/25     10,000     10,011
  Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue 3.500%   3/1/25        245        245
  Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/29      1,090      1,079
1 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/25        300        304
3 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/25        225        228
1 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/26        820        844
3 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/26        320        329
1 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/27        685        715
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
3 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/27        445        465
1 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/28        615        651
3 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/28        450        477
3 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/29        500        536
3 Lancaster Higher Education Authority College & University Revenue (Harrisburg Area Community College Project) 5.000%  10/1/30        500        543
  Lancaster IDA College & University Revenue (P3 FMC Holdings LLC Project) 5.000%   7/1/26        340        349
  Lancaster Municipal Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/29     10,000     10,828
3 Lancaster PA GO 4.000%  11/1/26      2,410      2,441
3 Lancaster PA GO 4.000%  11/1/27      2,605      2,650
3 Lancaster PA GO 5.000%  11/1/27      1,290      1,319
  Lansdale Borough PA GO 2.000%  10/1/25        650        643
  Lansdale Borough PA GO 2.000%  10/1/26        300        292
  Latrobe IDA College & University Revenue 5.000%   3/1/26        180        181
  Latrobe IDA College & University Revenue 5.000%   3/1/27        150        153
  Latrobe IDA College & University Revenue 5.000%   3/1/28        150        154
  Latrobe IDA College & University Revenue 5.000%   3/1/29        175        180
  Latrobe IDA College & University Revenue 5.000%   3/1/30        125        129
  Lehigh County General Purpose Authority Charter School Aid Revenue 4.000%   6/1/29      1,130      1,130
  Lehigh County General Purpose Authority Health, Hospital, Nursing Home Revenue 4.000%  11/1/25        265        265
  Lehigh County General Purpose Authority Health, Hospital, Nursing Home Revenue 4.000%  11/1/26        285        286
  Lehigh County General Purpose Authority Health, Hospital, Nursing Home Revenue 4.000%  11/1/27      1,135      1,141
  Lehigh County General Purpose Authority Health, Hospital, Nursing Home Revenue 4.000%  11/1/28        445        446
  Lehigh County PA Health, Hospital, Nursing Home Revenue 4.000%   7/1/25      1,600      1,600
  Lehigh County PA Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      4,750      4,784
  Lehigh County PA Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      3,730      3,820
  Lehigh County PA Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      4,325      4,501
3 Luzerne County PA GO 5.000% 11/15/29      4,000      4,070
  Lycoming County Authority College & University Revenue (Aicup Financing Program) 4.000%  11/1/25        520        523
  Lycoming County Authority College & University Revenue (Aicup Financing Program) 4.000%  11/1/26        540        541
  Monroeville Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/25        360        362
  Monroeville Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/27        805        840
  Monroeville Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/28      1,600      1,696
  Monroeville Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/28        565        599
  Monroeville Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/29      1,640      1,764
  Monroeville Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/29        440        473
  Montgomery County Higher Education & Health Authority College & University Revenue 5.000%   4/1/26      1,655      1,657
  Montgomery County Higher Education & Health Authority College & University Revenue 5.000%   4/1/27        815        832
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/25      1,200      1,200
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/26        315        322
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/26      2,030      2,030
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/27        475        491
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/28        750        786
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/29      2,000      2,103
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/30        750        804
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/30      3,125      3,279
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/31      1,750      1,834
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/32      1,540      1,608
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/33      1,285      1,340
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) 5.000%   9/1/25      1,305      1,318
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) 5.000%   9/1/26      1,460      1,495
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) 5.000%   9/1/28      1,500      1,579
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) 5.000%   9/1/31      3,390      3,594
  Montgomery County Higher Education & Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) 5.000%   9/1/32      1,000      1,058
  Montgomery County PA IDA College & University Revenue (Ursinus College Project) 4.000%  11/1/34      5,125      5,001
  Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Meadowood Senior Living Program) 5.000%  12/1/25      1,000      1,007
  Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) 4.000%  12/1/31        325        324
  Montgomery County PA IDA Industrial Revenue 4.100%   6/1/29      8,105      8,289
  Montgomery County PA IDA Industrial Revenue PUT 4.100%   4/3/28     19,590     19,966
10 Moon Area School District GO 5.000% 11/15/28      1,490      1,592
10 Moon Area School District GO 5.000% 11/15/29      1,305      1,417
  New Hope-Solebury School District GO 2.500%  2/15/30        570        534
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 New Kensington-Arnold School District GO 5.000%  5/15/25      2,230      2,243
1 New Kensington-Arnold School District GO 5.000%  5/15/26      1,015      1,041
3 Newport PA School District GO 2.450%  8/15/29        285        268
3 North Pocono School District GO 4.000%  9/15/28      1,580      1,631
  Northampton County General Purpose Authority College & University Revenue 5.000% 11/15/29        750        820
  Northampton County General Purpose Authority College & University Revenue 5.000% 11/15/30      2,900      3,220
  Northampton County General Purpose Authority College & University Revenue 5.000% 11/15/31      2,125      2,386
  Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/31      2,625      2,863
  Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      1,080      1,186
  Northeastern Pennsylvania Hospital & Education Authority College & University Revenue (Wilkes University Project) 5.000%   3/1/25        260        260
  Northeastern Pennsylvania Hospital & Education Authority College & University Revenue (Wilkes University Project) 5.000%   3/1/28        480        483
  Northern York County School District GO 4.000% 11/15/26      1,880      1,913
  Northern York County School District GO 4.000% 11/15/28        820        845
  Penn Delco School District GO 4.000%   6/1/27        200        204
  Penn Delco School District GO 4.000%   6/1/28        445        458
  Penn Delco School District GO 4.000%   6/1/29        350        361
3 Pennsylvania Economic Development Financing Authority Auto Parking Revenue 5.000%   1/1/26      1,500      1,525
3 Pennsylvania Economic Development Financing Authority Auto Parking Revenue 5.000%   1/1/27      1,285      1,330
3 Pennsylvania Economic Development Financing Authority Auto Parking Revenue 5.000%   1/1/28        700        736
3 Pennsylvania Economic Development Financing Authority Auto Parking Revenue 5.000%   1/1/29        580        618
3 Pennsylvania Economic Development Financing Authority Auto Parking Revenue 5.000%   1/1/30        500        540
  Pennsylvania Economic Development Financing Authority Electric Power & Light Revenue PUT 5.250%   6/1/27      1,000      1,011
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/25        400        402
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/25        350        352
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/25        275        277
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 4.000% 10/15/25        515        519
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  4/15/26      1,125      1,152
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 4.000% 10/15/26      1,270      1,291
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/27        300        314
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/27        370        387
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/28        435        461
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/29        500        540
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/29        500        540
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/30        485        529
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/31      3,785      3,788
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  5/15/31     12,365     13,667
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000% 10/15/31      2,325      2,584
  Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/32      4,890      4,893
2 Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.480% 2.730% 11/15/25      1,755      1,747
2 Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.580% 2.830% 11/15/26      1,825      1,811
2 Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.700% 2.950% 11/15/47     27,410     27,226
2 Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.700% 2.950%  5/15/53     40,000     39,803
  Pennsylvania Economic Development Financing Authority Resource Recovery Revenue (Republic Services Inc. Project) PUT 3.600%   4/1/25      1,250      1,251
  Pennsylvania Economic Development Financing Authority Resource Recovery Revenue (Waste Management Inc. Project) PUT 0.950%  12/1/26     13,655     13,006
3 Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/25        175        176
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%  11/1/25        960        972
3 Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/26        550        563
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/26      1,010      1,024
3 Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/27        600        624
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/27        710        720
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%  11/1/28      1,000      1,004
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/33      1,250      1,262
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%  11/1/33      2,805      2,810
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/34      1,105      1,114
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%   5/1/35      3,590      3,618
  Pennsylvania Higher Educational Facilities Authority College & University Revenue (AICUP Financing Program) PUT 4.500%   5/1/26      1,625      1,636
  Pennsylvania Higher Educational Facilities Authority College & University Revenue, ETM 5.000%  6/15/25        265        267
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/25        105        105
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/25        200        203
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/25        250        253
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/25        110        112
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/26        185        189
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/26        125        128
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/26      1,120      1,147
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/26        400        414
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/26        250        259
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/26        150        155
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/27      1,000      1,041
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/27        125        130
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.050%  10/1/27        400        396
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/27        325        341
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/27        250        262
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/27        115        121
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/28        500        528
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/28      1,375      1,451
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/28        250        264
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/28      2,910      3,092
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/28        260        276
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%   4/1/29        325        347
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 2.000%   4/1/31      1,665      1,464
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 1.800%   4/1/32      1,160        972
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.500%  10/1/46        340        340
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%  10/1/46        590        590
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%  10/1/48      5,520      5,530
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.500%   4/1/49      1,830      1,824
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  10/1/49      2,755      2,719
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  10/1/50      2,675      2,630
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  10/1/51      1,415      1,397
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  10/1/51     19,299     18,699
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  10/1/52      4,310      4,176
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 4.250%  10/1/52     12,735     12,886
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.000%  10/1/52      6,195      6,400
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.500%  10/1/53     14,145     14,902
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 5.750%  10/1/53      4,616      4,894
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 6.250%  10/1/53      6,095      6,630
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 6.000%  10/1/54      4,440      4,809
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 6.000%  10/1/54      1,875      2,039
  Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue 6.250%  10/1/54      1,380      1,519
5,6 Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue TOB VRDO 2.200%   2/3/25      7,326      7,326
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/25      3,955      3,982
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/25      3,455      3,479
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/26      1,215      1,248
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/26      4,475      4,598
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/27        750        761
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/27      2,000      2,012
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/27        375        396
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/28        550        558
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/29     16,095     16,493
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/29      1,000      1,090
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/29      1,250      1,362
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/30      1,025      1,080
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/30      3,250      3,592
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/30      1,125      1,243
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/31      1,000      1,043
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/31      1,325      1,474
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/31      4,170      4,663
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/32      1,200      1,252
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/33      1,120      1,171
2 Pennsylvania Turnpike Commission Registration Fee Transit Revenue, SIFMA Municipal Swap Index Yield + 0.850% 3.100%  7/15/41     26,500     26,457
  Pequea Valley School District GO 4.000%  5/15/28        150        154
  Philadelphia Energy Authority Intergovernmental Agreement Revenue 5.000%  11/1/28        500        533
  Philadelphia Energy Authority Intergovernmental Agreement Revenue 5.000%  11/1/29        500        540
  Philadelphia Energy Authority Intergovernmental Agreement Revenue 5.000%  11/1/30        600        656
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/25      1,595      1,610
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%  10/1/25      2,250      2,279
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/26      1,300      1,338
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/28      1,250      1,306
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/28      1,180      1,256
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/29      1,000      1,079
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/29      1,600      1,727
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/30      2,000      2,189
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/30      1,150      1,259
  Philadelphia Gas Works Co. Natural Gas Revenue 5.000%   8/1/31      1,240      1,369
  Philadelphia Hospitals & Higher Education Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        840        860
  Philadelphia Hospitals & Higher Education Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,000      1,022
5 Philadelphia IDA Charter School Aid Revenue 4.500%  6/15/29        750        751
5 Philadelphia IDA Charter School Aid Revenue 5.000%  6/15/33      2,385      2,391
  Philadelphia IDA Charter School Aid Revenue (Alliance for Progress Charter School Inc. Project) 4.000%  6/15/29        650        634
  Philadelphia IDA Charter School Aid Revenue (Independence Charter School West Project) 4.000%  6/15/29        600        582
5 Philadelphia IDA Charter School Aid Revenue (String Theory Charter School Project) 5.000%  6/15/25        170        170
5 Philadelphia IDA Charter School Aid Revenue (String Theory Charter School Project) 5.000%  6/15/26        810        818
5 Philadelphia IDA Charter School Aid Revenue (String Theory Charter School Project) 5.000%  6/15/27        335        341
  Philadelphia IDA College & University Revenue 5.000%  11/1/25      1,845      1,868
  Philadelphia IDA College & University Revenue 5.000%  11/1/26      2,385      2,454
  Philadelphia IDA College & University Revenue 5.000%  11/1/27      2,500      2,611
  Philadelphia IDA College & University Revenue (Holy Family University Project) 5.000%   9/1/25      1,665      1,679
  Philadelphia IDA College & University Revenue (Holy Family University Project) 5.000%   9/1/26        390        398
  Philadelphia IDA College & University Revenue (Holy Family University Project) 5.000%   9/1/27        310        320
  Philadelphia IDA College & University Revenue (Holy Family University Project) 5.000%   9/1/28        320        331
  Philadelphia IDA College & University Revenue (Holy Family University Project) 5.000%   9/1/29        340        354
  Philadelphia IDA College & University Revenue (Holy Family University Project) 5.000%   9/1/30        500        524
  Philadelphia IDA Lease (Non-Terminable) Revenue 5.000%  2/15/25      3,165      3,167
  Philadelphia IDA Lease (Non-Terminable) Revenue 5.000%  10/1/27      4,675      4,895
  Philadelphia PA GO 5.000%   8/1/25      8,150      8,235
  Philadelphia PA GO 5.000%   8/1/26      5,000      5,047
  Philadelphia PA GO 5.000%   8/1/26      5,055      5,208
  Philadelphia PA GO 5.000%   8/1/28        250        252
  Philadelphia PA GO 5.000%   8/1/29        250        262
6 Philadelphia PA GO VRDO 2.200%   2/6/25     16,600     16,600
  Philadelphia Redevelopment Authority Intergovernmental Agreement Revenue 5.000%  4/15/30      7,500      8,182
  Philadelphia Redevelopment Authority Intergovernmental Agreement Revenue 5.000%  4/15/31      3,400      3,761
3 Pittsburgh & Allegheny County Sports & Exhibition Authority Intergovernmental Agreement Revenue 4.000%   2/1/25      1,910      1,910
3 Pittsburgh & Allegheny County Sports & Exhibition Authority Intergovernmental Agreement Revenue 4.000%   2/1/25      2,680      2,680
3 Pittsburgh & Allegheny County Sports & Exhibition Authority Intergovernmental Agreement Revenue 4.000%   2/1/26      5,025      5,080
3 Pittsburgh & Allegheny County Sports & Exhibition Authority Intergovernmental Agreement Revenue 5.000%   2/1/28      1,045      1,100
3 Pittsburgh & Allegheny County Sports & Exhibition Authority Intergovernmental Agreement Revenue 5.000%   2/1/29        685        731
2,3,5 Pittsburgh Water & Sewer Authority Water Revenue, 70% of SOFR + 0.800% 3.845%   9/1/40     19,500     19,026
1 Plum Boro PA School District GO 3.300%  9/15/29        100        100
  School District of Philadelphia GO 5.000%   9/1/25      1,040      1,052
  School District of Philadelphia GO 5.000%   9/1/25      2,115      2,139
  School District of Philadelphia GO 5.000%   9/1/25      2,325      2,351
  School District of Philadelphia GO 5.000%   9/1/26      2,690      2,771
  School District of Philadelphia GO 5.000%   9/1/26      1,500      1,545
  School District of Philadelphia GO 5.000%   9/1/26      1,645      1,695
3,12 School District of Philadelphia GO 5.000%   6/1/27      1,465      1,531
  School District of Philadelphia GO 5.000%   9/1/27      4,105      4,293
  School District of Philadelphia GO 5.000%   9/1/27      2,500      2,613
  School District of Philadelphia GO 5.000%   9/1/27      1,335      1,395
  School District of Philadelphia GO 5.000%   9/1/28      2,253      2,312
  School District of Philadelphia GO 5.000%   9/1/28        275        292
  School District of Philadelphia GO 5.000%   9/1/28      1,305      1,384
  School District of Philadelphia GO 5.000%   9/1/28      1,000      1,060
  School District of Philadelphia GO 5.000%   9/1/29     11,550     11,841
  School District of Philadelphia GO 5.000%   9/1/29      1,570      1,683
  School District of Philadelphia GO 5.000%   9/1/30      2,665      2,886
  School District of Philadelphia GO 5.000%   9/1/33      6,180      6,571
3 Scranton PA GO 5.000% 11/15/28        770        813
3 Scranton PA GO 5.000% 11/15/29        625        667
3 Scranton PA GO 5.000% 11/15/30        920        991
3 Scranton PA GO 5.000% 11/15/31      1,675      1,818
  Scranton PA School District GO 5.000%  12/1/26      1,050      1,081
  Scranton PA School District GO 5.000%  12/1/30      1,640      1,750
  Scranton-Lackawanna Health & Welfare Authority College & University Revenue 5.000%  11/1/25        315        319
  Scranton-Lackawanna Health & Welfare Authority College & University Revenue 5.000%  11/1/26        930        949
  Scranton-Lackawanna Health & Welfare Authority College & University Revenue 5.000%  11/1/27        995      1,016
  Scranton-Lackawanna Health & Welfare Authority College & University Revenue 5.000%  11/1/28        785        802
  Snyder County Higher Education Authority College & University Revenue (Susquehanna University Project) 5.000%   1/1/27         45         45
  Southcentral Pennsylvania General Authority College & University Revenue 5.000%   5/1/25        165        166
  Southcentral Pennsylvania General Authority College & University Revenue 5.000%   5/1/26        160        164
  Southcentral Pennsylvania General Authority College & University Revenue 5.000%   5/1/27        300        310
  Southcentral Pennsylvania General Authority College & University Revenue 5.000%   5/1/28        215        225
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Southcentral Pennsylvania General Authority College & University Revenue 5.000%   5/1/29        250        264
  Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/27      1,060      1,071
  Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/29     26,185     28,343
1 Spring Cove School District GO 3.000% 11/15/26      1,545      1,543
  Springfield Delaware County School District GO 3.000%   3/1/30        450        435
1 State Public School Building Authority College & University Revenue (Community College of Allegheny County Project) 5.000%  7/15/25        450        454
1 State Public School Building Authority College & University Revenue (Community College of Allegheny County Project) 5.000%  7/15/26        735        755
1 State Public School Building Authority College & University Revenue (Community College of Allegheny County Project) 5.000%  7/15/27      1,200      1,246
1 State Public School Building Authority College & University Revenue (Community College of Allegheny County Project) 5.000%  7/15/28      2,035      2,142
1 State Public School Building Authority College & University Revenue (Northhampton County Area Community College Project) 5.000%   3/1/25        400        401
1 State Public School Building Authority College & University Revenue (Northhampton County Area Community College Project) 5.000%   3/1/26      1,000      1,020
1 State Public School Building Authority College & University Revenue (Northhampton County Area Community College Project) 5.000%   3/1/27        715        741
1 State Public School Building Authority College & University Revenue (Northhampton County Area Community College Project) 5.000%   3/1/28        750        789
1 State Public School Building Authority Lease (Appropriation) Revenue 5.000%  10/1/25      1,000      1,013
3 State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/25      2,500      2,516
  State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/27      1,250      1,289
  State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/29        385        397
3 State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/30     17,870     18,462
3 State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/31      9,510      9,821
3 State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/32      1,105      1,140
4,10 Temple University-of The Commonwealth System of Higher Education College & University Revenue 5.000%   4/1/29      3,500      3,790
4,10 Temple University-of The Commonwealth System of Higher Education College & University Revenue 5.000%   4/1/30      2,500      2,748
4,10 Temple University-of The Commonwealth System of Higher Education College & University Revenue 5.000%   4/1/31      4,620      5,143
4,10 Temple University-of The Commonwealth System of Higher Education College & University Revenue 5.000%   4/1/32      5,750      6,477
  Twin Valley School District GO 3.000%   4/1/27      1,000        999
  Twin Valley School District GO 3.000%   4/1/29        500        492
  Unionville-Chadds Ford School District GO 4.000%   6/1/31      4,400      4,489
1 University Area Joint Authority Sewer Revenue 5.000%  11/1/25      1,070      1,087
1 University Area Joint Authority Sewer Revenue 5.000%  11/1/26      1,005      1,018
  University of Pittsburgh-of the Commonwealth System of Higher Education College & University Revenue 5.000%  2/15/29     10,000     10,810
  Upper St. Clair Township PA GO 2.550%  5/15/30        500        469
  West Cornwall Township Municipal Authority Health, Hospital, Nursing Home Revenue 4.000% 12/15/28        410        401
1 Westmoreland County Municipal Authority Water Revenue 5.000%  8/15/27      1,280      1,293
1 Westmoreland County Municipal Authority Water Revenue 5.000%  8/15/28        130        131
  Westmoreland County PA GO 5.000%  8/15/28      1,655      1,757
  Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue 4.000%  5/15/27        675        665
  Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue 4.000%  5/15/28        705        690
  Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue (Excela Health Project) 4.000%   7/1/25        465        465
  Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue (Excela Health Project) 4.000%   7/1/26        995        996
  Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue (Excela Health Project) 5.000%   7/1/27      2,295      2,358
  Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue (Excela Health Project) 5.000%   7/1/28        975      1,010
5 Westmoreland County PA IDA Revenue 4.720%   7/1/35      8,000      7,933
  Wilkes-Barre Finance Authority College & University Revenue 4.000%  11/1/28        800        803
1 Woodland Hills School District GO 4.000%   9/1/26        600        610
1 Woodland Hills School District GO 4.000%   9/1/27        630        646
  York County PA IDA Industrial Revenue (Philadelphia Electric Co. Project) PUT 4.100%   4/3/28      4,020      4,097
1 York County School of Technology Authority Lease Revenue 5.000%  2/15/25      1,350      1,351
                                   1,206,102
Puerto Rico (1.4%)
  Commonwealth of Puerto Rico GO 5.375%   7/1/25     51,802     52,131
  Commonwealth of Puerto Rico GO 5.625%   7/1/27     94,732     98,753
  Commonwealth of Puerto Rico GO 5.625%   7/1/29     75,103     80,590
  Commonwealth of Puerto Rico GO 5.750%   7/1/31     25,504     28,257
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/25      8,895      8,950
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/25      2,860      2,873
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/25      1,225      1,231
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/25      3,000      3,014
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/28      5,620      5,837
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/29      2,710      2,834
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/29      4,570      4,780
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/30     45,465     47,777
5 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/33        300        317
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
9 Puerto Rico Electric Power Authority Electric Power & Light Revenue 5.250%   7/1/25        360        360
  Puerto Rico Housing Finance Authority Lease (Appropriation) Revenue (Puerto Rico Public Housing Project) 5.000%  12/1/26     12,355     12,806
  Puerto Rico Housing Finance Authority Lease (Appropriation) Revenue (Puerto Rico Public Housing Project) 5.000%  12/1/27      3,200      3,350
  Puerto Rico Housing Finance Authority Local or Guaranteed Housing Revenue (Mirador Las Casas Project) PUT 5.000%   3/1/26      1,415      1,441
  Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        410        429
  Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        250        264
  Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,775      1,894
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/27     26,138     24,023
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/29     27,265     23,340
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/29      1,716      1,468
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/31     14,118     11,153
                                     417,872
Rhode Island (0.3%)
3 Providence Public Building Authority Lease (Appropriation) Revenue 5.000%  9/15/25        500        506
3 Providence Public Building Authority Lease (Appropriation) Revenue 5.000%  9/15/31      4,910      5,242
10 Providence Public Building Authority Lease (Appropriation) Revenue (Capital Improvement Program Projects) 5.000%  9/15/29        850        913
10 Providence Public Building Authority Lease (Appropriation) Revenue (Capital Improvement Program Projects) 5.000%  9/15/30      1,000      1,088
  Providence RI GO 5.000%  1/15/26        250        254
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  9/15/25        425        430
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  11/1/25        450        456
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  11/1/26        150        155
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  11/1/27        150        158
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  11/1/27        490        515
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  11/1/28        145        155
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  11/1/28        350        373
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%  11/1/29        365        395
  Rhode Island Health & Educational Building Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/26      1,925      1,960
  Rhode Island Health & Educational Building Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/29      1,380      1,401
  Rhode Island Health & Educational Building Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/30        985      1,000
  Rhode Island Health & Educational Building Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/31      2,715      2,755
  Rhode Island Health & Educational Building Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/32      2,670      2,708
  Rhode Island Health & Educational Building Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/33      1,000      1,013
  Rhode Island Health & Educational Building Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/34      1,250      1,266
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/28      1,585      1,684
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/28        400        425
3 Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/29      1,400      1,507
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/29      1,215      1,308
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/29        300        323
3 Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/30        680        742
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/30      1,535      1,671
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/30        400        437
3 Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/31        450        497
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/31      1,890      2,083
  Rhode Island Health & Educational Building Corp. Intergovernmental Agreement Revenue 5.000%  5/15/31        500        552
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 1.200%  10/1/25        325        320
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 1.450%  10/1/26        300        287
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 1.625%  10/1/27        600        560
8 Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 3.350%  10/1/27      3,395      3,381
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 4.000%  10/1/48      4,655      4,673
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 3.000%   4/1/49      5,695      5,609
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 3.750%  10/1/49      4,230      4,224
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 3.000%  10/1/50      5,940      5,829
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 3.500%  10/1/50      1,865      1,850
  Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue 3.000%  10/1/51      3,955      3,863
8 Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue PUT 4.000%  10/1/26      3,465      3,466
8 Rhode Island Housing & Mortgage Finance Corp. Local or Guaranteed Housing Revenue PUT 3.600%  10/1/27      8,570      8,531
  Tobacco Settlement Financing Corp. RI Tobacco Settlement Funded Revenue 5.000%   6/1/25     14,020     14,067
  Tobacco Settlement Financing Corp. RI Tobacco Settlement Funded Revenue 5.000%   6/1/26      1,100      1,105
  Tobacco Settlement Financing Corp. RI Tobacco Settlement Funded Revenue 5.000%   6/1/27        435        437
  Tobacco Settlement Financing Corp. RI Tobacco Settlement Funded Revenue 5.000%   6/1/29      1,500      1,506
  Tobacco Settlement Financing Corp. RI Tobacco Settlement Funded Revenue 5.000%   6/1/35      1,500      1,505
                                      95,185
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
South Carolina (1.4%)
  Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) 5.000%  12/1/27        500        529
  Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) 5.000%  12/1/28        660        710
  Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) 5.000%  12/1/29      1,000      1,093
  Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) 5.000%  12/1/30      1,250      1,387
  Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) 5.000%  12/1/31      1,150      1,291
  Columbia SC Housing Authority Local or Guaranteed Housing Revenue PUT 5.000%   9/1/26      6,054      6,171
  Florence County SC Intergovernmental Agreement Revenue 5.000%   6/1/28      6,000      6,404
  Fort Mill School District No. 4 GO 4.000%   3/1/32      5,850      5,909
  Greenville County School District Lease (Appropriation) Revenue (SC Project) 5.000%  12/1/26      7,380      7,658
  Greenville County School District Lease (Appropriation) Revenue (SC Project) 5.000%  12/1/27      6,255      6,626
  Greenville County School District Lease (Appropriation) Revenue (SC Project) 5.000%  12/1/28      3,125      3,367
8 Greenville SC Housing Authority Local or Guaranteed Housing Revenue (Gordon Street Mill Project) PUT 5.000%  10/1/25     12,680     12,827
  Greenwood County SC Health, Hospital, Nursing Home Revenue 5.000%  10/1/26      1,865      1,923
  Greenwood County SC Health, Hospital, Nursing Home Revenue 5.000%  10/1/27      3,915      4,095
  Greenwood County SC Health, Hospital, Nursing Home Revenue 5.000%  10/1/28      4,110      4,357
  Greenwood County SC Health, Hospital, Nursing Home Revenue 5.000%  10/1/28        820        869
  Greenwood County SC Health, Hospital, Nursing Home Revenue 5.000%  10/1/29        830        892
  Greenwood County SC Health, Hospital, Nursing Home Revenue 5.000%  10/1/30        840        914
  Lancaster County SC School District GO 4.000%   3/1/29      9,560      9,686
  Lexington County Health Services District Inc. Health, Hospital, Nursing Home Revenue 5.000%  11/1/25        720        731
  Lexington County Health Services District Inc. Health, Hospital, Nursing Home Revenue 5.000%  11/1/34      1,195      1,214
  Patriots Energy Group Financing Agency Natural Gas Revenue PUT 5.250%   3/1/31     30,675     33,026
  Patriots Energy Group Financing Agency Natural Gas Revenue PUT 5.250%   8/1/31     16,325     17,438
  Piedmont Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/28      1,810      1,812
  Piedmont Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/30      1,000      1,001
  Piedmont Municipal Power Agency Nuclear Revenue 4.000%   1/1/26      1,000      1,008
  Piedmont Municipal Power Agency Nuclear Revenue 4.000%   1/1/27      1,555      1,575
  Piedmont Municipal Power Agency Nuclear Revenue 4.000%   1/1/28      3,200      3,261
  Piedmont Municipal Power Agency Nuclear Revenue 5.000%   1/1/28      7,695      7,929
  Piedmont Municipal Power Agency Nuclear Revenue 5.000%   1/1/28      5,495      5,765
  Piedmont Municipal Power Agency Nuclear Revenue 4.000%   1/1/29      3,825      3,911
  Piedmont Municipal Power Agency Nuclear Revenue 5.000%   1/1/29      8,240      8,460
  Piedmont Municipal Power Agency Nuclear Revenue 5.000%   1/1/30      4,190      4,300
  Piedmont Municipal Power Agency Nuclear Revenue 5.000%   1/1/31      1,525      1,564
  Rock Hill SC Combined Utility System Water Revenue 5.000%   1/1/26        310        315
  Rock Hill SC Combined Utility System Water Revenue 5.000%   1/1/27        250        260
  Rock Hill SC Combined Utility System Water Revenue 5.000%   1/1/28        360        381
  Rock Hill SC Combined Utility System Water Revenue 5.000%   1/1/29        270        290
  Rock Hill SC Combined Utility System Water Revenue 5.000%   1/1/30        300        326
  SCAGO Educational Facilities Corp. for Pickens School District Intergovernmental Agreement Revenue 5.000%  12/1/26      3,145      3,162
  South Carolina Association of Governmental Organizations COP 5.000%  2/28/25     28,210     28,248
  South Carolina Jobs-Economic Development Authority College & University Revenue 5.000%  10/1/32      1,000      1,012
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/25      1,850      1,857
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/26      3,185      3,251
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/26        470        487
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/27        820        866
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000% 11/15/27        705        695
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/28        400        423
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/28        350        362
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.250% 11/15/28      5,115      5,130
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/30        320        335
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/31     21,380     23,772
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/32      1,000      1,045
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      5,000      5,277
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/32        510        533
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue (Woodlands at Furman Project) 5.000% 11/15/26        290        292
  South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/25     28,940     29,273
5 South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.400%   2/6/25      4,000      4,000
5 South Carolina Jobs-Economic Development Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%  8/15/26      3,000      3,095
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/25        155        157
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/25        150        152
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/26        335        347
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/26        310        321
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/26        300        311
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/26        175        181
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/27      1,000      1,054
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/27        600        632
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/27        900        948
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/27        900        948
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/28        595        636
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/28      1,000      1,068
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/28        600        641
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/29        475        515
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/29     10,500     11,376
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/29        975      1,056
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/29      3,345      3,624
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/29        700        758
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/30     14,005     15,331
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/30      1,550      1,697
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/30      4,000      4,379
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/30        850        930
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/31      1,000      1,107
3,5 South Carolina Public Service Authority Electric Power & Light Revenue TOB VRDO 2.370%   2/6/25     12,000     12,000
3,5 South Carolina Public Service Authority Electric Power & Light Revenue TOB VRDO 2.390%   2/6/25      5,000      5,000
  South Carolina Public Service Authority Miscellaneous Revenue 5.000%  12/1/25      2,820      2,822
  South Carolina Public Service Authority Miscellaneous Revenue 5.000%  12/1/27        910        911
  South Carolina Public Service Authority Miscellaneous Revenue 5.000%  12/1/28      1,500      1,501
  South Carolina Public Service Authority Miscellaneous Revenue 3.000%  12/1/29        275        264
  South Carolina Public Service Authority Miscellaneous Revenue 5.000%  12/1/32      4,165      4,167
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/25     10,910     10,970
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/26      2,235      2,247
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/26        670        685
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/27        475        486
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/28        175        179
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/33      2,000      2,035
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/33      1,890      1,935
8 South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue 4.000%   7/1/47      1,195      1,197
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue 4.500%   7/1/48      2,275      2,294
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue 3.750%   1/1/50      8,015      8,006
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue 3.000%   1/1/52      2,805      2,744
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue 3.250%   1/1/52      3,380      3,338
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue 5.000%   1/1/52      6,170      6,400
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue 5.750%   1/1/54      4,260      4,614
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue (573 Meeting Street Project) PUT 3.000%   4/1/27      1,750      1,734
  South Carolina State Housing Finance & Development Authority Local or Guaranteed Housing Revenue PUT 5.000%  12/1/26      3,065      3,162
  South Carolina Transportation Infrastructure Bank Miscellaneous Revenue 3.100%  10/1/26     10,065     10,023
  South Carolina Transportation Infrastructure Bank Miscellaneous Revenue 3.000%  10/1/27      3,600      3,574
  Spartanburg Regional Health Services District Health, Hospital, Nursing Home Revenue 5.000%  4/15/25        580        582
  Spartanburg Regional Health Services District Health, Hospital, Nursing Home Revenue 5.000%  4/15/26        285        292
3 Spartanburg Regional Health Services District Health, Hospital, Nursing Home Revenue 5.000%  4/15/27        725        756
  Spartanburg Regional Health Services District Health, Hospital, Nursing Home Revenue 5.000%  4/15/27        200        208
  Spartanburg Regional Health Services District Health, Hospital, Nursing Home Revenue 5.000%  4/15/28      2,450      2,586
  Spartanburg Regional Health Services District Health, Hospital, Nursing Home Revenue 5.000%  4/15/29      1,780      1,903
  Spartanburg Regional Health Services District Health, Hospital, Nursing Home Revenue 5.000%  4/15/30      2,185      2,366
                                     433,540
South Dakota (0.1%)
  South Dakota Board of Regents Housing & Auxiliary Facilities System Local or Guaranteed Housing Revenue 5.000%   4/1/25      1,000      1,003
  South Dakota Board of Regents Housing & Auxiliary Facilities System Local or Guaranteed Housing Revenue 5.000%   4/1/30      2,000      2,077
  South Dakota Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25        500        506
  South Dakota Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25        480        485
  South Dakota Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25        170        173
  South Dakota Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/26        720        741
  South Dakota Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/27        750        781
  South Dakota Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/29      1,000      1,001
  South Dakota Health & Educational Facilities Authority Revenue (Sanford Health Project) 4.000%  11/1/34      7,625      7,624
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 1.950%  11/1/31      1,440      1,243
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 4.000%  11/1/47      1,990      1,993
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 3.500%   5/1/51        920        913
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 3.000%  11/1/51     11,210     11,005
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 3.000%  11/1/51      1,880      1,841
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 3.000%  11/1/52      1,860      1,818
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 5.000%   5/1/53      6,285      6,485
  South Dakota Housing Development Authority Local or Guaranteed Housing Revenue 6.000%   5/1/54      2,860      3,054
                                      42,743
Tennessee (1.9%)
  Chattanooga Health Educational & Housing Facility Board Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      1,000      1,009
  Chattanooga Health Educational & Housing Facility Board Health, Hospital, Nursing Home Revenue 5.000%   8/1/32      1,120      1,194
  Chattanooga Health Educational & Housing Facility Board Local or Guaranteed Housing Revenue 5.000%  10/1/32      1,300      1,306
  Chattanooga Health Educational & Housing Facility Board Local or Guaranteed Housing Revenue PUT 3.600%   6/1/28      2,250      2,250
  Chattanooga TN Electric Electric Power & Light Revenue 4.000%   9/1/33      7,115      7,122
  Dickson TN Health & Educational Facilities Board Local or Guaranteed Housing Revenue PUT 3.000%   4/1/27      4,025      3,959
  Dyer County TN GO 3.000%   6/1/27      1,400      1,394
  Greeneville Health & Educational Facilities Board Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,015      1,070
  Jackson TN Health, Hospital, Nursing Home Revenue 5.000%   4/1/26      1,050      1,067
  Johnson City Health & Educational Facilities Board Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      2,305      2,321
8 Johnson City Health & Educational Facilities Board Local or Guaranteed Housing Revenue (Tyler Apartment Project) PUT 5.000%   8/1/25      5,435      5,482
  Knox County Health Educational & Housing Facility Board Health, Hospital, Nursing Home Revenue 5.000%   9/1/25      1,670      1,682
  Knox County Health Educational & Housing Facility Board Health, Hospital, Nursing Home Revenue 5.000%   9/1/26      1,835      1,871
  Knox County Health Educational & Housing Facility Board Health, Hospital, Nursing Home Revenue 5.000%   4/1/27      1,400      1,435
  Knox County Health Educational & Housing Facility Board Health, Hospital, Nursing Home Revenue 5.000%   4/1/28      1,000      1,021
  Knox County Health Educational & Housing Facility Board Local or Guaranteed Housing Revenue (The Pines Apartments Project) PUT 3.100%   9/1/27      1,500      1,487
  Knox County Health Educational & Housing Facility Board Local or Guaranteed Housing Revenue PUT 5.000%   6/1/26      7,000      7,104
  Knox County Health Educational & Housing Facility Board Local or Guaranteed Housing Revenue PUT 5.000%   6/1/26      7,000      7,104
8 Knoxville's Community Development Corp. Local or Guaranteed Housing Revenue (Bluegrass Apartments Project) PUT 5.000%   4/1/27      4,353      4,504
  Knoxville's Community Development Corp. Local or Guaranteed Housing Revenue (Willow Place Project) PUT 3.750%   6/1/26        300        301
8 Memphis City Health Educational & Housing Facility Board Local or Guaranteed Housing Revenue PUT 5.000%   7/1/26      8,525      8,735
  Memphis TN GO 5.000%   4/1/28      3,565      3,800
  Memphis TN GO 5.000%  10/1/28      3,435      3,693
  Memphis TN GO 5.000%   4/1/29      3,565      3,865
  Memphis TN GO 5.000%   4/1/30      3,565      3,927
  Memphis TN GO 5.000%  10/1/30      3,435      3,813
  Memphis TN GO 5.000%   4/1/31      3,565      3,985
  Memphis TN GO 5.000%  10/1/31      3,510      3,947
  Memphis-Shelby County Industrial Development Board Intergovernmental Agreement Revenue 5.000%  11/1/27      1,060      1,096
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue 5.000%   5/1/27        600        624
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue 5.000%   5/1/28        600        632
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue 5.000%  10/1/29        900        924
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue 5.000%   5/1/30      1,000      1,077
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue (Lipscomb University Project) 5.000%  10/1/35      1,115      1,152
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue (Trevecca Nazarene University Project) 4.000%  10/1/25        175        175
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue (Trevecca Nazarene University Project) 4.000%  10/1/26        470        471
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue (Trevecca Nazarene University Project) 4.000%  10/1/27        195        195
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue (Trevecca Nazarene University Project) 4.000%  10/1/28        545        545
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      6,230      6,692
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,000      1,024
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Health, Hospital, Nursing Home Revenue (Vanderbilt University Medical Center) 5.000%   7/1/28      9,520     10,093
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Local or Guaranteed Housing Revenue (BEN Allen Ridge Apartments Project) PUT 3.850%   2/1/26      1,750      1,757
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Local or Guaranteed Housing Revenue (Northview Project) PUT 3.600%   2/1/28      6,000      6,028
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Local or Guaranteed Housing Revenue (Park Point Project) PUT 3.500%   2/1/28      5,000      4,975
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Local or Guaranteed Housing Revenue PUT 5.000%  12/1/25     20,780     20,902
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board Local or Guaranteed Housing Revenue PUT 5.000%   2/1/27     14,943     15,325
3 Metropolitan Government Nashville & Davidson County Sports Authority Intergovernmental Agreement Revenue (Stadium Project) 5.000%   7/1/28        820        872
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
3 Metropolitan Government Nashville & Davidson County Sports Authority Intergovernmental Agreement Revenue (Stadium Project) 5.000%   7/1/28      1,055      1,122
3 Metropolitan Government Nashville & Davidson County Sports Authority Intergovernmental Agreement Revenue (Stadium Project) 5.000%   7/1/30      1,740      1,905
3 Metropolitan Government Nashville & Davidson County Sports Authority Intergovernmental Agreement Revenue (Stadium Project) 5.000%   7/1/30        700        767
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   1/1/28     12,915     13,336
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   1/1/29     13,430     13,980
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   1/1/29      5,865      6,105
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   1/1/30     12,195     12,790
  Metropolitan Nashville Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/25      1,000      1,009
  Metropolitan Nashville Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/26      1,000      1,028
  Montgomery County TN GO 4.000%   4/1/25        500        500
13 New Memphis Arena Public Building Authority Lease (Non-Terminable) Revenue, 4.000% coupon rate effective 4/1/26 0.000%   4/1/27      1,375      1,308
13 New Memphis Arena Public Building Authority Lease (Non-Terminable) Revenue, 4.000% coupon rate effective 4/1/26 0.000%   4/1/28      1,400      1,329
  Shelby County Health Educational & Housing Facilities Board Health, Hospital, Nursing Home Revenue PUT 5.000%   9/1/29     14,205     15,008
  Tennergy Corp. TN Natural Gas Revenue 4.000%   3/1/25        500        500
  Tennergy Corp. TN Natural Gas Revenue 4.000%   9/1/25        600        602
  Tennergy Corp. TN Natural Gas Revenue 5.250%  12/1/25        560        567
  Tennergy Corp. TN Natural Gas Revenue 4.000%   3/1/26        550        553
  Tennergy Corp. TN Natural Gas Revenue 4.000%   9/1/26      1,140      1,148
  Tennergy Corp. TN Natural Gas Revenue 4.000%   3/1/27      2,810      2,829
  Tennergy Corp. TN Natural Gas Revenue 4.000%   9/1/27      2,240      2,258
  Tennergy Corp. TN Natural Gas Revenue 4.000%   3/1/28      2,925      2,944
  Tennergy Corp. TN Natural Gas Revenue 4.000%   9/1/28      2,375      2,391
  Tennergy Corp. TN Natural Gas Revenue PUT 4.000%   9/1/28     57,040     57,207
  Tennergy Corp. TN Natural Gas Revenue PUT 5.000%  12/1/29     71,380     75,100
  Tennergy Corp. TN Natural Gas Revenue PUT 5.500%  12/1/30      9,300      9,884
  Tennessee Energy Acquisition Corp. Natural Gas Revenue 5.000%  11/1/25        175        177
  Tennessee Energy Acquisition Corp. Natural Gas Revenue 5.250%   9/1/26      4,935      5,016
  Tennessee Energy Acquisition Corp. Natural Gas Revenue 5.000%  11/1/26        200        205
  Tennessee Energy Acquisition Corp. Natural Gas Revenue 5.000%   2/1/27     12,180     12,364
  Tennessee Energy Acquisition Corp. Natural Gas Revenue 5.000%  11/1/27      1,000      1,034
  Tennessee Energy Acquisition Corp. Natural Gas Revenue 5.000%  11/1/28      2,185      2,282
  Tennessee Energy Acquisition Corp. Natural Gas Revenue (Gas Project) PUT 5.000%   5/1/28     96,605     99,923
  Tennessee Energy Acquisition Corp. Natural Gas Revenue PUT 4.000%  11/1/25     22,995     23,083
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 2.600%   7/1/28      1,045        996
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 4.000%   7/1/39         25         25
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 4.000%   1/1/42      1,130      1,134
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 4.000%   1/1/45        115        115
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 4.500%   7/1/49      7,335      7,423
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 3.500%   7/1/50      1,570      1,558
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 3.000%   1/1/52      5,250      5,120
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 3.750%   7/1/52      4,340      4,333
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue 5.500%   1/1/54      5,600      5,905
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue (Residential Finance Program) 2.650%   7/1/32      1,075        975
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue (Residential Finance Program) 4.250%   1/1/50      3,390      3,416
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue (Residential Finance Program) 3.000%   1/1/51      3,990      3,917
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue (Residential Finance Program) PUT 3.500%  10/1/25      1,840      1,841
  Tennessee Housing Development Agency Local or Guaranteed Housing Revenue (Residential Finance Program) PUT 3.500%  10/1/25      3,765      3,766
  Williamson County Industrial Development Board Local or Guaranteed Housing Revenue PUT 5.000%   5/1/27      4,040      4,160
                                     579,945
Texas (9.0%)
  Abilene Convention Center Hotel Development Corp. Economic Development Revenue 2.500%  10/1/31      2,870      2,512
  Alamito Public Facility Corp. Local or Guaranteed Housing Revenue PUT 5.000%   8/1/26     11,962     12,177
  Alamo Area Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.390%   7/1/28      3,570      3,556
19 Aldine Independent School District GO 4.000%  2/15/32      3,000      3,044
19 Allen Independent School District GO 5.000%  2/15/25      1,000      1,001
  Allen TX GO 5.000%  8/15/29        800        872
  Allen TX GO 5.000%  8/15/30        700        775
  Allen TX GO 5.000%  8/15/31        700        785
19 Alvarado TX Independent School District GO PUT 2.750%  8/15/25      1,725      1,715
19 Arlington Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/25        195        197
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
19 Arlington Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/25        400        404
  Arlington Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/25        410        411
19 Arlington Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/26        200        205
5 Arlington Higher Education Finance Corp. Charter School Aid Revenue 4.125%  6/15/34        770        763
5 Arlington Higher Education Finance Corp. Charter School Aid Revenue PUT 4.500%  6/15/26      2,750      2,750
5 Arlington Higher Education Finance Corp. Charter School Aid Revenue PUT 4.875%  6/15/26      1,250      1,259
  Arlington TX GO 5.000%  8/15/25      2,925      2,960
19 Arlington TX Independent School District GO 5.000%  2/15/25      2,275      2,277
19 Arlington TX Independent School District GO 5.000%  2/15/29      3,000      3,248
19 Arlington TX Independent School District GO 5.000%  2/15/30      2,300      2,532
3 Arlington TX Special Tax Revenue 5.000%  2/15/25      1,230      1,231
3 Arlington TX Special Tax Revenue 5.000%  2/15/26      1,120      1,122
  Atascosa County Industrial Development Corp. Electric Power & Light Revenue 5.000% 12/15/25      1,265      1,286
  Atascosa County Industrial Development Corp. Electric Power & Light Revenue 5.000% 12/15/26      1,250      1,294
  Atascosa County Industrial Development Corp. Electric Power & Light Revenue 5.000% 12/15/27        845        888
  Atascosa County Industrial Development Corp. Electric Power & Light Revenue 5.000% 12/15/28      1,505      1,602
  Austin Affordable PFC Inc. Local or Guaranteed Housing Revenue PUT 5.000%   9/1/27      1,200      1,249
  Austin Community College District Public Facility Corp. Lease (Appropriation) Revenue 5.000%   8/1/27      1,015      1,025
  Austin Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.400%  11/1/27      9,000      8,993
19 Austin Independent School District GO 5.000%   8/1/26      3,095      3,198
19 Austin Independent School District GO 5.000%   8/1/26      9,690     10,011
19 Austin Independent School District GO 5.000%   8/1/30      1,610      1,657
19 Austin Independent School District GO 4.000%   8/1/32      1,100      1,110
  Austin TX Water & Wastewater System Water Revenue 5.000% 11/15/28      3,500      3,775
  Austin TX Water & Wastewater System Water Revenue 5.000% 11/15/29      3,000      3,286
  Austin TX Water & Wastewater System Water Revenue 5.000% 11/15/29      6,235      6,829
  Austin TX Water & Wastewater System Water Revenue 5.000% 11/15/30      4,000      4,445
  Austin TX Water & Wastewater System Water Revenue 5.000% 11/15/30      2,800      3,112
19 Barbers Hill Independent School District GO 5.000%  2/15/29      1,280      1,386
19 Barbers Hill Independent School District GO 5.000%  2/15/30      2,780      3,062
19 Beaumont Independent School District GO 5.000%  2/15/25      4,360      4,363
1 Bell County Water Control & Improvement District No. 1 Water Revenue 5.000%  7/10/27        500        524
1 Bell County Water Control & Improvement District No. 1 Water Revenue 5.000%  7/10/29      1,550      1,674
1 Bell County Water Control & Improvement District No. 1 Water Revenue 5.000%  7/10/29        500        540
  Bexar County Hospital District GO 5.000%  2/15/28        325        344
  Bexar County Hospital District GO 5.000%  2/15/29      1,000      1,073
  Bexar County Hospital District GO 5.000%  2/15/30      1,850      2,013
  Bexar County Hospital District GO 5.000%  2/15/31      1,500      1,652
  Bexar County Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 4.050%   3/1/26      1,190      1,194
19 Boerne Independent School District GO PUT 4.000%   2/1/28      2,415      2,469
  Brazoria County Toll Road Authority Intergovernmental Agreement Revenue PUT 3.750%   9/1/26      8,450      8,494
19 Brazosport Independent School District GO 5.000%  2/15/25      1,955      1,956
19 Brazosport Independent School District GO 3.000%  2/15/29      1,505      1,477
19 Brazosport Independent School District GO 3.000%  2/15/30      2,490      2,447
  Brushy Creek Regional Utility Authority Inc. Water Revenue 4.000%   8/1/31      1,270      1,279
  Brushy Creek Regional Utility Authority Inc. Water Revenue 4.000%   8/1/31      1,230      1,239
19 Bullard Independent School District GO PUT 2.750%  8/15/25      5,160      5,146
  Capital Area Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.480%   6/1/25      3,500      3,502
  Capital Area Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.125%   9/1/27      3,125      3,109
19 Carrizo Springs Consolidated Independent School District GO 4.500%  8/15/32      1,010      1,039
19 Castleberry Independent School District GO 4.000%  2/15/33      1,335      1,350
19 Celina Independent School District GO 5.000%  2/15/29        500        541
19 Celina Independent School District GO 5.000%  2/15/30        500        550
19 Celina Independent School District GO 5.000%  2/15/31        500        558
5 Celina TX Special Assessment Revenue 2.875%   9/1/27        119        113
5 Celina TX Special Assessment Revenue 4.500%   9/1/31        250        250
  Central Texas Regional Mobility Authority Highway Revenue 0.000%   1/1/26      1,000        970
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/26        125        127
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/27        370        383
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/27      1,250      1,272
  Central Texas Regional Mobility Authority Highway Revenue 0.000%   1/1/28      1,225      1,110
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/28        325        342
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/28        700        732
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/28      1,500      1,581
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/29      3,200      3,420
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/31      1,530      1,551
  Central Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/32      1,585      1,606
  Central Texas Regional Mobility Authority Highway Revenue BAN 5.000%   1/1/27     30,555     31,079
  Central Texas Regional Mobility Authority Highway Revenue, Prere. 5.000%   7/1/25      2,270      2,290
11 Central Texas Turnpike System Highway Revenue 0.000%  8/15/26      9,445      8,970
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
11 Central Texas Turnpike System Highway Revenue 0.000%  8/15/28      8,140      7,179
11 Central Texas Turnpike System Highway Revenue 0.000%  8/15/29      8,500      7,216
11 Central Texas Turnpike System Highway Revenue 0.000%  8/15/30        415        339
  Central Texas Turnpike System Highway Revenue PUT 5.000%  8/15/30     25,715     27,242
  Chambers County Justice Center Public Facilities Corp. Lease (Appropriation) Revenue (Justice Center Project) 5.000%   6/1/27        900        943
  Chambers County Justice Center Public Facilities Corp. Lease (Appropriation) Revenue (Justice Center Project) 5.000%   6/1/29      1,000      1,081
  Chambers County Justice Center Public Facilities Corp. Lease (Appropriation) Revenue (Justice Center Project) 5.000%   6/1/30      1,325      1,452
  Chambers County Justice Center Public Facilities Corp. Lease (Appropriation) Revenue (Justice Center Project) 5.000%   6/1/31      1,445      1,602
19 Clear Creek Independent School District GO 5.000%  2/15/30      5,000      5,497
19 Clear Creek Independent School District GO 5.000%  2/15/31      2,385      2,662
19 Clear Creek Independent School District GO 4.000%  2/15/32      2,500      2,501
19 Clear Creek Independent School District GO 5.000%  2/15/32      1,740      1,959
19 Clear Creek Independent School District GO PUT 3.600%  8/15/25      6,475      6,493
  Clifton Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/26        945        965
19 Clifton Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/28        490        522
  Clifton Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/28        300        317
19 Clifton Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/29        460        497
  Clifton Higher Education Finance Corp. Charter School Aid Revenue 5.000%  8/15/29        310        331
  College Station TX GO 3.300%  2/15/33      1,340      1,313
  Collin County Community College District GO 5.000%  8/15/31      6,780      7,596
  Collin County Community College District GO 5.000%  8/15/32      7,120      8,060
19 Conroe Independent School District GO 5.000%  2/15/25      2,575      2,577
  Corpus Christi TX GO 5.000%   3/1/26         70         70
  Corpus Christi TX GO 4.000%   3/1/30      1,865      1,867
  Corpus Christi TX Utility System Multiple Utility Revenue 5.000%  7/15/32        500        503
  Corpus Christi TX Utility System Water Revenue 5.000%  7/15/28        325        347
  Corpus Christi TX Utility System Water Revenue 5.000%  7/15/29        125        136
  Corpus Christi TX Utility System Water Revenue 5.000%  7/15/30        175        193
19 Cypress-Fairbanks Independent School District GO 5.000%  2/15/28      7,260      7,707
19 Cypress-Fairbanks Independent School District GO 3.300%  2/15/30        765        765
19 Cypress-Fairbanks Independent School District GO 4.000%  2/15/31      4,465      4,467
  Dallas College GO 5.000%  2/15/25      3,270      3,272
  Dallas County Utility & Reclamation District GO 5.000%  2/15/28      1,195      1,258
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/25      2,705      2,748
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/27      1,325      1,399
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/28      2,490      2,674
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/28      1,980      2,126
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/29      2,490      2,717
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/29      9,440     10,302
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/29      2,500      2,728
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/30      7,815      8,658
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/30      3,400      3,767
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/31      2,450      2,748
  Dallas Housing Finance Corp. Local or Guaranteed Housing Revenue (Waterford at Goldmark Project) PUT 3.300%   1/1/28      6,410      6,379
  Dallas Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.500%   2/1/26      4,775      4,777
8 Dallas Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 5.000%   3/1/26      2,165      2,188
8 Dallas Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 5.000%   8/1/26        840        861
  Dallas Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 5.000%   7/1/27      4,789      4,936
19 Dallas Independent School District GO 5.000%  2/15/26      1,160      1,162
4,19 Dallas Independent School District GO PUT 5.000%  2/15/29      3,330      3,532
4,19 Dallas Independent School District GO PUT 5.000%  2/15/30      5,140      5,519
4,19 Dallas Independent School District GO PUT 5.000%  2/15/31     13,275     14,425
  Dallas TX GO 5.000%  2/15/25      7,700      7,706
  Dallas TX GO 5.000%  2/15/28      2,835      3,011
  Dallas TX GO 5.000%  2/15/30     15,000     16,437
  Dallas TX GO 5.000%  2/15/33      5,000      5,013
  Dallas TX Hotel Occupancy Tax Revenue 4.000%  8/15/27      2,000      2,018
  Dallas TX Hotel Occupancy Tax Revenue 4.000%  8/15/28      1,290      1,299
  Dallas TX Hotel Occupancy Tax Revenue 4.000%  8/15/30      2,375      2,386
  Dallas TX Hotel Occupancy Tax Revenue 4.000%  8/15/32      1,300      1,303
5 Dallas TX Special Tax Revenue (Fair Park Venue Project) PUT 6.250%  8/15/28      7,025      7,030
5 Dallas TX Special Tax Revenue PUT 6.000%  8/15/28     27,230     27,276
  Dallas TX Waterworks & Sewer System Water Revenue 5.000%  10/1/25      1,740      1,766
  Dallas TX Waterworks & Sewer System Water Revenue 4.000%  10/1/34     11,670     11,697
  Denton County Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 5.000%   2/1/25      2,250      2,250
  Denton County TX GO 4.000%  7/15/33      2,575      2,596
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
19 Denton Independent School District GO 5.000%  8/15/25      1,170      1,172
5,6 Deutsche Bank Spears/Lifers Trust TOB VRDO 2.200%   2/3/25     10,435     10,435
19 Dickinson Independent School District GO 4.000%  2/15/33      3,000      3,025
19 Dripping Springs TX Independent School District GO 5.000%  2/15/29      1,250      1,350
19 Eagle Mountain & Saginaw Independent School District GO PUT 4.000%   8/1/27      2,375      2,421
10 East Montgomery County Improvement District Sales Tax Revenue 5.000%  8/15/28        335        356
10 East Montgomery County Improvement District Sales Tax Revenue 5.000%  8/15/29        600        647
10 East Montgomery County Improvement District Sales Tax Revenue 5.000%  8/15/30        450        492
10 East Montgomery County Improvement District Sales Tax Revenue 5.000%  8/15/31        225        248
  Ector County Hospital District GO 5.000%  9/15/25        500        503
  Ector County Hospital District GO 5.000%  9/15/26        700        710
  Ector County Hospital District GO 5.000%  9/15/27      1,070      1,093
19 Ector County Independent School District GO PUT 4.000%  8/15/27     19,040     19,448
  EI Paso County TX GO 5.000%  2/15/29      1,465      1,494
10 El Paso County Hospital District GO 5.000%  8/15/27      1,225      1,283
10 El Paso County Hospital District GO 5.000%  8/15/28        775        824
10 El Paso County Hospital District GO 5.000%  8/15/29        705        759
10 El Paso County Hospital District GO 5.000%  8/15/30        765        833
10 El Paso County Hospital District GO 5.000%  8/15/31      2,700      2,965
19 El Paso Independent School District GO 4.000%  8/15/33      2,250      2,264
  El Paso TX GO 4.000%  8/15/29      1,440      1,455
  El Paso TX GO 4.000%  8/15/32      4,975      5,013
19 Elgin Independent School District GO 5.000%   8/1/30        500        552
  EP Essential Housing WF PFC Local or Guaranteed Housing Revenue 4.250%  12/1/34      5,610      5,611
  Fair Oaks Ranch TX GO 2.500%   2/1/29        530        494
1 Fort Bend County Municipal Utility District No. 58 GO 3.000%   4/1/25        610        610
1 Fort Bend County Municipal Utility District No. 58 GO 3.000%   4/1/25         35         35
1 Fort Bend County Municipal Utility District No. 58 GO 3.000%   4/1/26        255        255
1 Fort Bend County Municipal Utility District No. 58 GO 3.000%   4/1/27        325        323
1 Fort Bend County Municipal Utility District No. 58 GO 3.000%   4/1/28        640        632
1 Fort Bend County Municipal Utility District No. 58 GO 3.000%   4/1/28         65         64
1 Fort Bend County Municipal Utility District No. 58 GO 3.000%   4/1/29        170        166
  Fort Bend County TX GO 5.000%   3/1/25      2,785      2,789
  Fort Bend County TX GO 5.000%   3/1/29      5,840      6,313
  Fort Bend County TX GO 5.000%   3/1/29      1,525      1,649
  Fort Bend County TX GO 5.000%   3/1/30      2,435      2,675
  Fort Bend County TX GO 5.000%   3/1/30      1,195      1,313
  Fort Bend County TX GO 5.000%   3/1/31      2,565      2,859
  Fort Bend County TX GO 5.000%   3/1/31      1,435      1,600
19 Fort Bend Independent School District GO 4.000%  2/15/32      4,430      4,538
19 Fort Bend Independent School District GO 4.000%  2/15/33      1,000      1,022
19 Fort Bend Independent School District GO PUT 0.875%   8/1/25      3,985      3,937
19 Fort Bend Independent School District GO PUT 0.720%   8/1/26     16,775     15,945
19 Fort Worth Independent School District GO 5.000%  2/15/25      1,925      1,926
19 Fort Worth Independent School District GO 5.000%  2/15/26      1,260      1,262
19 Fort Worth Independent School District GO 5.000%  2/15/26      1,510      1,546
19 Fort Worth Independent School District GO 4.000%  2/15/33      2,000      2,009
  Fort Worth TX GO 3.000%   9/1/25      1,275      1,275
  Fort Worth TX GO 4.000%   3/1/31      5,140      5,306
  Fort Worth TX Hotel Occupancy Tax Revenue 5.000%   3/1/31      1,070      1,071
19 Friendswood Independent School District GO 4.000%  2/15/28        645        663
19 Frisco Independent School District GO 5.000%  2/15/26      5,785      5,914
19 Frisco Independent School District GO 5.000%  2/15/27      6,245      6,518
19 Frisco Independent School District GO 2.500%  8/15/27      2,655      2,572
19 Frisco Independent School District GO 5.000%  2/15/28      6,335      6,725
19 Frisco Independent School District GO 5.000%  2/15/29      6,560      7,079
19 Frisco Independent School District GO 5.000%  2/15/30      6,680      7,324
19 Frisco Independent School District GO 4.000%  8/15/32      1,965      1,976
19 Galena Park Independent School District GO 5.000%  8/15/25      1,560      1,578
  Galveston County TX GO 4.000%   2/1/25      1,085      1,085
  Galveston TX Wharves & Terminal Port, Airport & Marina Revenue 5.000%   8/1/26        400        411
  Galveston TX Wharves & Terminal Port, Airport & Marina Revenue 5.000%   8/1/28        250        265
  Galveston TX Wharves & Terminal Port, Airport & Marina Revenue 5.000%   8/1/30        300        325
  Galveston TX Wharves & Terminal Port, Airport & Marina Revenue 5.000%   8/1/31        530        580
  Galveston TX Wharves & Terminal Port, Airport & Marina Revenue 5.000%   8/1/32        650        716
19 Garland Independent School District GO 4.000%  2/15/33      6,980      6,977
  Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/25        725        726
  Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/26        760        776
  Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/26      3,875      3,956
  Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/27        770        801
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/27      1,510      1,571
3 Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/27        335        349
  Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/28      3,985      4,214
3 Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/28        245        260
3 Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/29        330        355
3 Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/30        450        491
3 Garland TX Electric Utility System Electric Power & Light Revenue 5.000%   3/1/31        370        409
19 Georgetown Independent School District GO 5.000%  2/15/26        500        511
19 Georgetown Independent School District GO 5.000%  2/15/28        500        532
19 Georgetown Independent School District GO 5.000%  2/15/29        500        542
19 Georgetown Independent School District GO 5.000%  2/15/30        350        385
19 Georgetown Independent School District GO 5.000%  2/15/31        525        587
3 Georgetown TX Electric Utility System Multiple Utility Revenue 5.000%  8/15/25        650        657
3 Georgetown TX Electric Utility System Multiple Utility Revenue 5.000%  8/15/27        850        893
3 Georgetown TX Electric Utility System Multiple Utility Revenue 5.000%  8/15/28      1,050      1,120
3 Georgetown TX Electric Utility System Multiple Utility Revenue 5.000%  8/15/29      1,750      1,894
19 Godley Independent School District GO 5.000%  2/15/28        550        550
19 Goose Creek Consolidated Independent School District GO 5.000%  2/15/25      1,465      1,466
19 Goose Creek Consolidated Independent School District GO PUT 0.600%  8/17/26      4,200      4,042
  Grand Parkway Transportation Corp. Highway Revenue PUT 5.000%   4/1/28     26,035     27,390
19 Grapevine-Colleyville Independent School District GO 5.000%  8/15/26      1,500      1,516
  Greater Texas Cultural Education Facilities Finance Corp. Lease (Appropriation) Revenue (EpicCenter Multipurpose Facilities Project) 5.000%   3/1/28        520        550
1 Greenville TX Electric System Electric Power & Light Revenue 5.000%  2/15/27        845        878
1 Greenville TX Electric System Electric Power & Light Revenue 5.000%  2/15/28      1,170      1,234
1 Greenville TX Electric System Electric Power & Light Revenue 5.000%  2/15/29      3,455      3,691
1 Greenville TX Electric System Electric Power & Light Revenue 5.000%  2/15/30      1,715      1,855
1 Greenville TX Electric System Electric Power & Light Revenue 5.000%  2/15/31      2,750      3,007
1 Greenville TX GO 4.000%  2/15/27      2,470      2,523
1 Greenville TX GO 4.000%  2/15/29      1,525      1,578
  Hale Center Education Facilities Corp. College & University Revenue (Wayland Baptist University Project) 5.000%   3/1/29      1,715      1,780
  Hale Center Education Facilities Corp. College & University Revenue (Wayland Baptist University Project) 5.000%   3/1/30      2,040      2,131
  Hale Center Education Facilities Corp. College & University Revenue (Wayland Baptist University Project) 5.000%   3/1/31      2,140      2,247
  Hale Center Education Facilities Corp. College & University Revenue (Wayland Baptist University Project) 5.000%   3/1/32      1,050      1,106
  Hale Center Education Facilities Corp. College & University Revenue (Wayland Baptist University Project) 5.000%   3/1/33      1,155      1,212
19 Hallsville TX Independent School District GO 4.000%  2/15/33      1,000      1,025
19 Hardin-Jefferson Independent School District GO 2.500%  8/15/30        410        382
  Harris County Cultural Education Facilities Finance Corp. Electric Power & Light Revenue (TECO Project) 5.000% 11/15/27      2,090      2,197
  Harris County Cultural Education Facilities Finance Corp. Electric Power & Light Revenue (TECO Project) 4.000% 11/15/32      2,815      2,837
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/25      5,210      5,297
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      1,000      1,021
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/27      2,985      3,151
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/29      1,100      1,178
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  5/15/29      6,000      6,455
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  10/1/29      5,000      5,422
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 4.000% 11/15/29      1,590      1,600
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      7,430      8,233
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  10/1/31      2,750      3,070
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 4.000%  10/1/34      2,195      2,196
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 0.900%  5/15/25      6,500      6,438
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 5.000%  12/1/26      1,975      2,040
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 5.000%  12/1/26      4,585      4,735
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 5.000%  12/1/28     20,000     21,189
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/29     16,315     17,465
  Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/31      2,175      2,412
6 Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue VRDO 2.250%   2/5/25      6,425      6,425
2 Harris County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.850% 3.100%   7/1/49      4,720      4,720
  Harris County Flood Control District Ad Valorem Property Tax Revenue 5.000%  10/1/25      1,190      1,194
  Harris County Flood Control District Ad Valorem Property Tax Revenue 5.000%  10/1/26      7,520      7,563
  Harris County Flood Control District Intergovernmental Agreement Revenue 5.000%  10/1/25      2,555      2,594
  Harris County Hospital District GO 5.000%  2/15/30      1,070      1,091
  Harris County Metropolitan Transit Authority Sales & Use Tax Sales Tax Revenue 5.000%  11/1/30      1,565      1,674
  Harris County TX GO 5.000%  10/1/26      1,570      1,593
  Harris County TX GO 5.000%  9/15/27      1,300      1,373
  Harris County TX Highway Revenue 5.000%  8/15/28      3,000      3,091
9 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue, ETM 0.000% 11/15/27      4,925      4,483
9 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue, ETM 0.000% 11/15/28      5,760      5,062
9 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue, ETM 0.000% 11/15/29      5,260      4,462
9 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue, ETM 0.000% 11/15/30      6,320      5,173
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
5 Hays County TX Special Assessment Revenue 2.500%  9/15/25         40         40
  Hidalgo County Regional Mobility Authority Highway Revenue 5.000%  12/1/28        200        208
  Hidalgo County Regional Mobility Authority Highway Revenue 5.000%  12/1/28        240        248
  Hidalgo County Regional Mobility Authority Highway Revenue 5.000%  12/1/29        500        525
  Hidalgo County Regional Mobility Authority Highway Revenue 5.000%  12/1/29        475        495
8 Housing Synergy PFC Local or Guaranteed Housing Revenue PUT 5.000%   2/1/26      7,160      7,285
  Houston Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.650%   2/1/28      1,850      1,862
19 Houston Independent School District GO 4.000%  2/15/30      2,655      2,656
19 Houston Independent School District GO 4.000%  2/15/32     15,000     15,007
19 Houston Independent School District GO 4.000%  2/15/33      4,470      4,472
19 Houston Independent School District GO PUT 3.500%   6/1/25     16,500     16,493
19 Houston Independent School District GO PUT 4.000%   6/1/25      5,905      5,912
  Houston TX Airport System Port, Airport & Marina Revenue 5.000%   7/1/25      1,760      1,775
  Houston TX Airport System Port, Airport & Marina Revenue 5.000%   7/1/33      3,010      3,172
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/25      1,505      1,530
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/26      7,120      7,394
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/27      7,990      8,450
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/29      5,000      5,453
  Houston TX GO 5.000%   3/1/26      4,400      4,500
  Houston TX GO 5.000%   3/1/27        125        130
  Houston TX GO 5.000%   3/1/27        400        417
  Houston TX GO 5.000%   3/1/28        150        159
  Houston TX GO 5.000%   3/1/28        400        425
  Houston TX GO 5.000%   3/1/29        425        458
  Houston TX GO 5.000%   3/1/30      1,250      1,369
  Houston TX GO 5.000%   3/1/30        550        602
  Houston TX GO 5.000%   3/1/30        725        794
  Houston TX GO 5.000%   3/1/31      2,200      2,441
  Houston TX GO 5.000%   3/1/31        850        943
  Houston TX GO 5.000%   3/1/31        675        749
  Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 4.000%   9/1/25        110        111
  Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 4.000%   9/1/26        140        142
  Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 4.000%   9/1/27        285        291
  Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 4.000%   9/1/28        370        379
  Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 5.000%   9/1/32      1,000      1,056
  Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 5.000%   9/1/34      1,550      1,552
19 Humble Independent School District GO 5.500%  2/15/25      1,710      1,712
19 Humble Independent School District GO 4.000%  2/15/26      4,000      4,003
  Hunt Memorial Hospital District Charitable Health GO 5.000%  2/15/28      1,775      1,826
  Hunt Memorial Hospital District Charitable Health GO 5.000%  2/15/31      1,015      1,059
19 Hurst-Euless-Bedford Independent School District GO 5.000%  8/15/25      1,330      1,347
19 Hutto Independent School District GO 5.000%   8/1/28        315        338
19 Hutto Independent School District GO 5.000%   8/1/29        425        462
19 Hutto Independent School District GO 5.000%   8/1/30        225        248
19 Hutto Independent School District GO 5.000%   8/1/31        400        447
19 Hutto Independent School District GO PUT 2.000%   8/1/25      3,045      3,029
  Irving Hospital Authority Health, Hospital, Nursing Home Revenue 5.000% 10/15/25        500        505
  Irving Hospital Authority Health, Hospital, Nursing Home Revenue 5.000% 10/15/26        460        469
  Irving Hospital Authority Health, Hospital, Nursing Home Revenue 5.000% 10/15/28        420        428
  Irving Hospital Authority Health, Hospital, Nursing Home Revenue 5.000% 10/15/29        475        484
19 Irving Independent School District GO 5.000%  2/15/29      1,550      1,674
19 Irving Independent School District GO 5.000%  2/15/30      1,160      1,273
19 Irving Independent School District GO 5.000%  2/15/32      3,585      3,689
19 Joshua Independent School District GO 5.000%  8/15/27        350        368
19 Joshua Independent School District GO 5.000%  8/15/28        435        466
19 Joshua Independent School District GO 5.000%  8/15/29        425        462
19 Joshua Independent School District GO 5.000%  8/15/30        840        928
19 Joshua Independent School District GO 5.000%  8/15/31        500        560
19 Judson Independent School District GO 4.000%   2/1/33      1,050      1,055
5 Justin TX Special Assessment Revenue 2.500%   9/1/26         63         61
  Karnes County Hospital District Health, Hospital, Nursing Home Revenue PUT 5.000%   2/1/29      6,500      6,791
19 Katy Independent School District GO 4.000%  2/15/31      1,130      1,130
19 Katy Independent School District GO 4.000%  2/15/32      2,115      2,116
19 Katy Independent School District GO 4.000%  2/15/32      1,470      1,471
19 Katy Independent School District GO PUT 4.000%  8/15/26      5,000      5,066
  Kaufman County TX GO 5.000%  2/15/26        165        168
  Kaufman County TX GO 5.000%  2/15/27        200        207
  Kaufman County TX GO 5.000%  2/15/27        175        181
  Kerrville Health Facilities Development Corp. Health, Hospital, Nursing Home Revenue (Peterson Regional Medical Center Project) 5.000%  8/15/30      2,550      2,568
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
19 Klein Independent School District GO 4.000%   8/1/31      2,110      2,116
  Klein Independent School District GO 4.000%   8/1/31      2,170      2,175
5 Kyle TX Special Assessment Revenue 4.375%   9/1/28        400        402
19 La Porte TX Independent School District GO 4.000%  2/15/27      1,655      1,689
  Lake Houston Redevelopment Authority Intergovernmental Agreement Revenue 5.000%   9/1/25        225        226
  Lake Houston Redevelopment Authority Intergovernmental Agreement Revenue 5.000%   9/1/27        240        246
19 Lake Travis Independent School District GO 5.000%  2/15/25      1,535      1,536
5 Lakewood Village TX Special Assessment Revenue 4.375%  9/15/27        286        284
19 Lamar Consolidated Independent School District GO 5.000%  2/15/25      2,235      2,237
19 Lamar Consolidated Independent School District GO 5.000%  2/15/28        450        478
19 Lamar Consolidated Independent School District GO 5.000%  2/15/29        450        487
19 Lamar Consolidated Independent School District GO 5.000%  2/15/30        500        550
19 Lamar Consolidated Independent School District GO 5.000%  2/15/31      1,250      1,395
  Laredo TX GO 5.000%  2/15/27        240        245
  Laredo TX GO 5.000%  2/15/27      1,000      1,042
  Laredo TX GO 5.000%  2/15/29      1,510      1,625
  Laredo TX GO 5.000%  2/15/30      1,200      1,311
  Laredo TX GO 4.000%  2/15/31      1,815      1,826
  Laredo TX GO 5.000%  2/15/31      1,000      1,106
  Las Varas Public Facility Corp. Local or Guaranteed Housing Revenue 3.750%  11/1/25      2,925      2,927
5 Lavon TX Special Assessment Revenue 3.500%  9/15/27        347        341
5 Lavon TX Special Assessment Revenue 4.250%  9/15/31        100        101
5 Lavon TX Special Assessment Revenue 4.375%  9/15/31        150        150
19 Leander Independent School District GO 5.000%  8/15/27      5,335      5,506
  Leander Independent School District GO 4.000%  8/15/33      1,000      1,002
  Legacy Denton Public Facility Corp. Local or Guaranteed Housing Revenue PUT 5.000%   4/1/26      9,488      9,601
5 Liberty Hill TX Special Assessment Revenue 2.625%   9/1/27        273        263
5 Liberty Hill TX Special Assessment Revenue 3.500%   9/1/27        109        106
19 Little Elm Independent School District GO PUT 0.680%  8/15/25        455        449
19 Little Elm Independent School District GO PUT 3.700%  8/15/28      5,000      5,014
19 Llano Independent School District GO 5.000%  2/15/27      1,410      1,470
19 Llano Independent School District GO 5.000%  2/15/31      1,000      1,059
  Lone Star College System GO 4.000%  2/15/32      1,250      1,257
19 Longview Independent School District GO 4.000%  2/15/30      4,480      4,507
  Lower Colorado River Authority Electric Power & Light Revenue 5.000%  5/15/25      1,000      1,006
  Lower Colorado River Authority Electric Power & Light Revenue 5.000%  5/15/27      1,200      1,257
  Lower Colorado River Authority Electric Power & Light Revenue PUT 5.000%  5/15/28     13,825     14,436
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/25      4,200      4,207
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/26      5,020      5,027
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/26      4,020      4,123
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/27      2,120      2,220
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/28        135        136
10 Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/28      1,200      1,280
10 Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/29      1,795      1,944
3 Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/30      1,750      1,922
10 Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/30      6,450      7,085
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/31      6,755      6,789
10 Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/31      3,650      4,057
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/32      1,000      1,072
3,5 Lower Colorado River Authority Intergovernmental Agreement Revenue (LCRA Transmission Services Corp. Project) TOB VRDO 2.020%   2/3/25      8,000      8,000
  Lubbock TX Electric Light & Power System Electric Power & Light Revenue 5.000%  4/15/27        800        835
  Lubbock TX Electric Light & Power System Electric Power & Light Revenue 5.000%  4/15/28      1,000      1,062
  Lubbock TX Electric Light & Power System Electric Power & Light Revenue 5.000%  4/15/29      1,150      1,241
  Lubbock TX GO 5.000%  2/15/25      3,035      3,037
19 Mabank Independent School District GO 5.000%  8/15/27        275        290
19 Mabank Independent School District GO 5.000%  8/15/28        390        418
19 Mabank Independent School District GO 5.000%  8/15/29        760        828
19 Mabank Independent School District GO 5.000%  8/15/30        800        885
19 Mabank Independent School District GO 5.000%  8/15/31        775        869
  Manor Housing Public Facility Corp. Local or Guaranteed Housing Revenue PUT 3.400%   5/1/28     12,230     12,212
19 Mansfield Independent School District GO 4.000%  2/15/25      4,910      4,912
19 Mansfield Independent School District GO 5.000%  2/15/26      2,265      2,317
19 Marble Falls Independent School District GO 5.000%  8/15/25      2,105      2,130
19 Marshall Independent School District GO, Prere. 5.000%  8/15/25      1,000      1,012
  Matagorda County Navigation District No. 1 Industrial Revenue (AEP Texas Central Co. Project) 4.000%   6/1/30      1,415      1,415
11 Matagorda County Navigation District No. 1 Resource Recovery Revenue 4.400%   5/1/30      3,595      3,767
19 McKinney Independent School District GO 5.000%  2/15/29        850        921
19 McKinney Independent School District GO 5.000%  2/15/30      1,165      1,283
19 McKinney Independent School District GO 5.000%  2/15/31        750        839
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  McKinney TX GO 5.000%  8/15/27        400        422
  McKinney TX GO 5.000%  8/15/29        325        354
  McKinney TX GO 5.000%  8/15/30        325        360
  McKinney TX Waterworks & Sewer System Water Revenue 5.000%  3/15/29        350        378
  McKinney TX Waterworks & Sewer System Water Revenue 5.000%  3/15/30        500        548
19 Melissa Independent School District GO 5.000%   2/1/29        500        539
19 Melissa Independent School District GO 5.000%   2/1/30        500        548
19 Melissa Independent School District GO 5.000%   2/1/31        500        556
3 Memorial City Redevelopment Authority Tax Increment/Allocation Revenue 5.000%   9/1/25        445        449
3 Memorial City Redevelopment Authority Tax Increment/Allocation Revenue 5.000%   9/1/26        550        564
3 Memorial City Redevelopment Authority Tax Increment/Allocation Revenue 5.000%   9/1/27      1,050      1,095
3 Memorial City Redevelopment Authority Tax Increment/Allocation Revenue 5.000%   9/1/28      2,250      2,375
  Mesquite Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.350%   8/1/27      3,500      3,511
19 Mesquite Independent School District GO 5.000%  8/15/32      3,545      3,638
19 Mesquite Independent School District GO, Prere. 5.000%  8/15/25      1,000      1,012
5 Mesquite TX Special Assessment Revenue (Solterra Public Improvement Area A-1 Projects) 4.750%   9/1/30        900        905
  Midland County Hospital District GO 5.000%  5/15/27      1,350      1,409
  Midland County Hospital District GO 5.000%  5/15/28      1,420      1,504
5 Midlothian TX Special Assessment Revenue 4.375%  9/15/27        100         99
5 Midlothian TX Special Assessment Revenue 4.750%  9/15/32        250        248
19 Midway Independent School District/McLennan County GO 4.000%  8/15/32      2,000      2,066
19 Monahans-Wickett-Pyote Independent School District GO 4.000%  2/15/30      2,560      2,591
19 Monahans-Wickett-Pyote Independent School District GO 4.000%  2/15/31      1,230      1,242
  Montgomery County Toll Road Authority Highway Revenue 5.000%  9/15/25        750        756
19 Montgomery Independent School District GO 5.000%  2/15/25      1,950      1,951
19 Montgomery Independent School District GO 5.000%  2/15/30      4,260      4,679
19 Montgomery Independent School District GO 5.000%  2/15/31        890        992
19 New Boston Independent School District GO 2.700%  8/15/30        515        487
19 New Caney Independent School District GO PUT 4.000%  8/15/27      3,610      3,680
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  8/15/25      2,535      2,561
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.500%  10/1/27      3,100      3,100
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Morningside Ministries Project) 3.500%   1/1/27      1,700      1,649
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Outlook at Windhaven Project) 4.250%  10/1/26        550        550
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Outlook at Windhaven Project) 4.500%  10/1/26      2,745      2,745
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Outlook at Windhaven Project) 6.500%  10/1/33        280        293
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Presbyterian Village North Project) 5.000%  10/1/25      1,090      1,089
  New Hope Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Wesleyan Homes Inc. Project) 4.000%   1/1/29        380        366
7 New Hope Cultural Education Facilities Finance Corp. Local or Guaranteed Housing Revenue (NCCD-College Station Properties LLC - Texas A&M University Project) 5.000%   7/1/23      2,319      2,318
  New Hope Cultural Education Facilities Finance Corp. Local or Guaranteed Housing Revenue, Prere. 5.000%   4/1/26      1,300      1,331
  Newark Higher Education Finance Corp. College & University Revenue (Abilene Christian University University Program) 5.000%   4/1/30      3,265      3,313
  North East Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/29      2,895      2,936
  North East Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/31      1,805      1,827
  North East Texas Regional Mobility Authority Highway Revenue 5.000%   1/1/31      1,155      1,170
19 North East TX Independent School District GO 5.000%   8/1/26      2,015      2,038
19 North East TX Independent School District GO 4.000%   8/1/32      2,000      2,004
19 North East TX Independent School District GO PUT 3.750%   8/1/27      3,015      3,043
  North Harris County Regional Water Authority Water Revenue 5.000% 12/15/32      1,000      1,030
5 North Parkway Municipal Management District No. 1 Special Assessment Revenue (Major Improvements Project) 3.625%  9/15/26        175        175
5 North Parkway Municipal Management District No. 1 Special Assessment Revenue (Major Improvements Project) 4.250%  9/15/31      5,500      5,457
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/26      4,750      4,843
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/26        490        491
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/27      4,865      4,957
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/27     17,895     18,619
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/28        190        193
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/28      1,225      1,299
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/29      1,915      2,053
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/29      1,225      1,319
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/29      5,190      5,589
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/30      1,000      1,015
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/30     15,000     16,321
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/30      1,625      1,776
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/30      8,320      9,053
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/31     12,055     13,292
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/31      2,110      2,340
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/31      3,555      3,920
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/32      1,985      2,050
  North Texas Tollway Authority Highway Revenue (Special Projects System), Prere. 0.000%   9/1/31     24,895     12,734
  North Texas Tollway Authority Highway Revenue (Special Projects System), Prere. 0.000%   9/1/31      4,500      1,467
10 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/28      4,385      3,975
10 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/29     10,375      9,068
10 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/30     10,395      8,756
19 Northside Independent School District GO 5.000%  8/15/25      1,155      1,168
19 Northside Independent School District GO 5.000%  8/15/25      1,000      1,012
19 Northside Independent School District GO 4.000%  8/15/26      3,260      3,318
19 Northside Independent School District GO 3.000%  6/15/30      2,000      1,962
19 Northside Independent School District GO 4.000%  8/15/32      1,060      1,065
19 Northside Independent School District GO PUT 0.700%   6/1/25     23,825     23,567
19 Northside Independent School District GO PUT 3.000%   8/1/26     32,455     32,309
19 Northside Independent School District GO PUT 2.000%   6/1/27      9,980      9,631
19 Northside Independent School District GO PUT 3.450%   8/1/27     10,180     10,228
19 Northwest Independent School District GO 5.000%  2/15/29        500        541
19 Northwest Independent School District GO 5.000%  2/15/31        600        670
  Nueces County TX GO 5.000%  2/15/28        435        459
  Odessa TX GO 4.000%   3/1/28      2,000      2,035
19 Palestine Independent School District GO 4.000%  2/15/32      1,000      1,005
19 Pampa Independent School District GO 4.000%  8/15/27      1,895      1,901
  Parker County TX GO 4.000%  2/15/32      1,220      1,237
  Pearland TX GO 5.000%   3/1/26        600        614
  Pearland TX GO 5.000%   3/1/30      1,355      1,458
  Pearland TX GO 5.000%   3/1/30      1,970      2,006
  Pearland TX Waterworks & Sewer System Water Revenue 5.000%   9/1/25      1,025      1,037
  Pearland TX Waterworks & Sewer System Water Revenue 5.000%   9/1/26      1,015      1,043
19 Pecos Barstow Toyah Independent School District GO 5.000%  2/15/27        500        521
19 Pecos Barstow Toyah Independent School District GO 5.000%  2/15/28        950      1,008
19 Pecos Barstow Toyah Independent School District GO 5.000%  2/15/29      1,510      1,629
19 Pecos Barstow Toyah Independent School District GO 5.000%  2/15/30      1,680      1,842
19 Pecos Barstow Toyah Independent School District GO 5.000%  2/15/31      1,275      1,386
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/29        295        297
19 Plano Independent School District GO 4.000%  2/15/32      1,000      1,007
  Plano TX GO 3.100%   9/1/33      4,010      3,826
19 Port Arthur Independent School District GO 5.000%  2/15/26      2,230      2,234
  Port Arthur Independent School District GO 4.000%  2/15/33      1,000      1,001
19 Port Neches-Groves TX Independent School District TX GO 2.750%  2/15/29        610        589
5 Princeton TX Special Assessment Revenue 4.250%   9/1/31        300        298
5 Princeton TX Special Assessment Revenue (Eastridge Public Improvement Area No.2 Project) 4.500%   9/1/30        373        374
19 Prosper Independent School District GO 4.000%  2/15/30      1,400      1,423
19 Prosper Independent School District GO 4.000%  2/15/31      1,000      1,000
19 Prosper Independent School District GO PUT 3.000%  8/15/25      9,765      9,762
  PSC TX Miscellaneous Revenue PUT 3.750%   2/1/28     10,950     10,748
19 Rankin Independent School District GO 5.000%  2/15/27      1,000      1,042
19 Rankin Independent School District GO 5.000%  2/15/28      1,000      1,062
19 Rankin Independent School District GO 5.000%  2/15/29      2,995      3,232
19 Rankin Independent School District GO 5.000%  2/15/30      1,000      1,072
19 Rankin Independent School District GO 5.000%  2/15/31      1,460      1,565
19 Rankin Independent School District GO 5.000%  2/15/32      1,325      1,417
19 Rankin Independent School District GO 5.000%  2/15/33        865        895
19 Rankin Independent School District GO 5.000%  2/15/34        645        666
  Red River Education Finance Corp. College & University Revenue (St. Edwards University Project) 5.000%   6/1/26        430        435
  Red River Education Finance Corp. College & University Revenue (St. Edwards University Project) 5.000%   6/1/27        450        457
19 Richardson Independent School District GO 4.000%  2/15/25      2,405      2,406
19 Richardson Independent School District GO 4.000%  2/15/26      3,735      3,738
  Rockland County TX GO 5.000%   2/1/26        550        561
  Rockland County TX GO 5.000%   2/1/27        800        831
19 Rockwall Independent School District GO 0.000%  2/15/27      1,960      1,826
19 Round Rock Independent School District GO 5.000%   8/1/25      1,000      1,011
  Round Rock Independent School District GO 5.000%   8/1/25      2,870      2,901
4,19 Round Rock Independent School District GO PUT 5.000%   8/1/30     10,795     11,738
  SA Energy Acquisition Public Facility Corp. Natural Gas Revenue 5.500%   8/1/26      1,700      1,739
  SA Energy Acquisition Public Facility Corp. Natural Gas Revenue 5.500%   8/1/27        515        534
  Sabine-Neches Navigation District (Sabine-Neches Waterway Project) GO 5.000%  2/15/29      1,300      1,394
  Sabine-Neches Navigation District (Sabine-Neches Waterway Project) GO 5.000%  2/15/30      1,000      1,087
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  San Angelo TX GO 2.000%  2/15/25      2,720      2,718
  San Angelo TX GO 3.000%  2/15/26      5,580      5,570
  San Angelo TX GO 3.000%  2/15/27      5,750      5,699
  San Angelo TX GO 3.000%  2/15/29      5,510      5,477
  San Antonio Housing Trust Public Facility Corp. Local or Guaranteed Housing Revenue PUT 4.000%   8/1/25      5,515      5,533
  San Antonio Housing Trust Public Facility Corp. Local or Guaranteed Housing Revenue PUT 3.190%  10/1/27        800        794
  San Antonio Municipal Facilities Corp. Lease (Appropriation) Revenue (City Tower Renovation Project) PUT 5.000%   8/1/27      2,900      3,023
  San Antonio Public Facilities Corp. Lease (Appropriation) Revenue (Convention Center Facilities Program) 5.000%  9/15/27      5,320      5,575
  San Antonio Public Facilities Corp. Lease (Appropriation) Revenue (Convention Center Facilities Program) 5.000%  9/15/28     10,125     10,756
  San Antonio Public Facilities Corp. Lease (Appropriation) Revenue (Convention Center Facilities Program) 5.000%  9/15/29     11,435     12,317
  San Antonio Public Facilities Corp. Lease (Appropriation) Revenue (Convention Center Facilities Program) 5.000%  9/15/30     14,705     16,047
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/25      1,075      1,075
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/26      1,330      1,358
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/26      1,500      1,532
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/27      1,500      1,562
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 1.500%   2/1/28      3,325      3,020
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 3.125%   2/1/28      3,000      2,964
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/28      1,000      1,059
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 3.000%   2/1/29      4,715      4,679
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 3.250%   2/1/29     11,405     11,309
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 3.250%   2/1/29      5,000      4,949
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/29      1,745      1,805
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/29      4,000      4,298
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/29      2,305      2,477
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/29      1,000      1,074
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/29      2,200      2,364
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/30      4,500      4,902
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/30      4,360      4,750
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/30      1,000      1,089
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/30      1,380      1,503
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/31      3,000      3,051
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/31      1,500      1,657
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/31      1,835      2,027
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 4.000%   2/1/32      3,000      3,031
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/32      2,105      2,156
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/32      2,955      3,050
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 4.000%   2/1/33     10,000     10,089
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue PUT 1.750%  12/1/25     18,470     18,182
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue PUT 1.125%  12/1/26      5,000      4,777
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue PUT 3.650%  12/1/26     10,865     10,900
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue PUT 2.000%  12/1/27      9,960      9,403
2 San Antonio TX Electric & Gas Systems Electric Power & Light Revenue, SIFMA Municipal Swap Index Yield + 0.870% 3.120%   2/1/48     42,500     42,491
  San Antonio TX GO 5.000%   2/1/25      4,495      4,495
  San Antonio TX GO 5.000%   2/1/26      1,000      1,022
  San Antonio TX GO 5.000%   2/1/26      2,300      2,350
  San Antonio TX GO 5.000%   2/1/26      2,500      2,554
  San Antonio TX GO 5.000%   2/1/29        600        648
  San Antonio TX GO 5.000%   2/1/29        100        108
  San Antonio TX GO 5.000%   2/1/30        750        824
  San Antonio TX GO 5.000%   2/1/30      1,750      1,922
  San Antonio TX GO 5.000%   2/1/31        600        669
  San Antonio TX GO 5.000%   2/1/31      1,360      1,516
5 San Antonio TX Housing Trust Public Facility Corp. Multifamily Housing Revenue TOB VRDO 2.200%   2/3/25     13,160     13,160
  San Antonio Water System Water Revenue 5.000%  5/15/27      1,000      1,049
  San Antonio Water System Water Revenue 5.000%  5/15/29      1,000      1,084
  San Antonio Water System Water Revenue 5.000%  5/15/30      1,000      1,101
  San Antonio Water System Water Revenue PUT 1.000%  11/1/26     11,405     10,906
2 San Antonio Water System Water Revenue, SIFMA Municipal Swap Index Yield + 0.650% 2.900%   5/1/44     25,510     25,477
  San Jacinto Community College District GO 5.000%  2/15/25      1,000      1,001
  San Jacinto Community College District GO 5.000%  2/15/27        560        582
  San Jacinto Community College District GO 5.000%  2/15/28        560        591
  San Patricio County TX GO 5.000%   4/1/26        150        153
  San Patricio County TX GO 5.000%   4/1/27        140        146
  San Patricio County TX GO 5.000%   4/1/28        450        477
  San Patricio County TX GO 5.000%   4/1/29        300        323
  Schertz TX GO 3.000%   2/1/30        210        204
19 Sheldon Independent School District GO 5.000%  2/15/25      3,015      3,017
19 Sherman TX Independent School District GO 5.000%  2/15/29      1,000      1,081
  SMHA Finance Public Facility Corp. Local or Guaranteed Housing Revenue PUT 3.700%   7/1/27      5,500      5,546
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
19 South San Antonio TX Independent School District GO 0.000%  8/15/29      1,000        854
  Southwest Higher Education Authority Inc. College & University Revenue (Southern Methodist University Project) 5.000%  10/1/29      1,125      1,224
3 Southwest Houston Redevelopment Authority Intergovernmental Agreement Revenue 5.000%   9/1/26        325        333
3 Southwest Houston Redevelopment Authority Intergovernmental Agreement Revenue 5.000%   9/1/27        175        184
19 Southwest Independent School District GO 5.000%   2/1/28      1,005      1,067
19 Southwest Independent School District GO 5.000%   2/1/30      1,775      1,947
19 Southwest Independent School District GO 5.000%   2/1/30      1,300      1,426
19 Southwest Independent School District GO 5.000%   2/1/31      1,000      1,113
19 Spring Independent School District GO 5.000%  8/15/26      1,300      1,315
19 Spring Independent School District GO 5.000%  8/15/29        500        545
  Spring Independent School District GO 5.000%  8/15/29      1,100      1,191
19 Spring Independent School District GO 5.000%  8/15/30        560        620
  Spring Independent School District GO 5.000%  8/15/30      4,500      4,941
19 Spring Independent School District GO 4.000%  8/15/31      2,145      2,162
19 Spring Independent School District GO 4.000%  8/15/32      3,545      3,571
  Stephen F Austin State University College & University Revenue 5.000% 10/15/29        875        948
  Strategic Housing Finance Corp. of Travis County Local or Guaranteed Housing Revenue PUT 5.000%  12/1/26     20,760     21,258
  Strategic Housing Finance Corp. of Travis County Local or Guaranteed Housing Revenue PUT 3.350%   3/1/28      3,000      3,002
  Tarrant County College District GO 5.000%  8/15/28      1,565      1,679
  Tarrant County College District GO 5.000%  8/15/29      3,195      3,482
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      1,620      1,633
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  10/1/25        400        405
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      3,500      3,592
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/26        675        693
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,000      1,026
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  10/1/26        225        232
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      1,000      1,044
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  10/1/27        175        184
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28        300        318
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28      1,000      1,061
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        400        430
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29      2,345      2,523
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      1,000      1,091
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/30      2,000      2,181
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%  10/1/30      2,000      2,192
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,690      1,862
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/32     12,000     13,335
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/32      1,135      1,206
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Baylor Scott & White Health Project) 5.000% 11/15/28      2,990      3,063
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue (Buckner Senior Living Ventana Project) 6.000% 11/15/27        440        453
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 5.000%  5/15/26      8,055      8,221
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue PUT 5.000% 11/15/30     13,660     14,801
  Tarrant County Cultural Education Facilities Finance Corp. Health, Hospital, Nursing Home Revenue VRDO 2.250%   2/5/25      6,000      6,000
  Tarrant County Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 5.000%   9/1/27      1,330      1,384
  Tarrant County Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.600%   2/1/28      3,400      3,418
  Tarrant Regional Water District Water Supply System Water Revenue 5.000%   3/1/28      3,000      3,005
19 Taylor County Wylie Independent School District GO 4.000%  2/15/31      1,925      1,941
  Temple TX GO 4.000%   8/1/32      1,630      1,651
19 Temple TX Independent School District GO 5.000%   2/1/28      1,105      1,174
19 Temple TX Independent School District GO 5.000%   2/1/29      1,280      1,382
19 Temple TX Independent School District GO 5.000%   2/1/30      1,575      1,727
  Temple TX Utility System Water Revenue 5.000%   8/1/28      1,160      1,236
  Texas A&M University College & University Revenue 5.000%  5/15/27      1,565      1,642
  Texas A&M University College & University Revenue 5.000%  5/15/28      1,300      1,388
  Texas A&M University College & University Revenue 5.000%  5/15/29      2,145      2,328
  Texas A&M University College & University Revenue 5.000%  5/15/30      2,310      2,544
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue 3.450%   1/1/32      2,363      2,240
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue 4.750%   1/1/49      1,185      1,202
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue 3.500%   3/1/51      6,405      6,344
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue 3.500%   7/1/52      1,820      1,799
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue 5.500%   9/1/52      9,450     10,008
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue 5.500%   7/1/53     10,530     11,256
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue 5.750%   3/1/54     13,880     15,030
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue PUT 3.250%   8/1/26      3,750      3,746
  Texas Department of Housing & Community Affairs Local or Guaranteed Housing Revenue PUT 3.125%   8/1/27      7,000      6,987
  Texas GO 5.000%   8/1/25      2,510      2,538
  Texas GO 4.000%   8/1/26      1,450      1,458
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Texas GO 4.000%   8/1/27      2,250      2,259
  Texas GO 4.000%   8/1/28      1,250      1,255
  Texas GO 5.000%  10/1/28     11,795     12,685
  Texas GO 4.000%   8/1/29      2,750      2,760
  Texas GO 4.000%   8/1/30      1,500      1,505
  Texas GO 5.000%   8/1/30      3,500      3,641
  Texas GO 5.000%  10/1/30     14,000     15,554
  Texas GO 4.000%   8/1/31      1,250      1,254
  Texas GO 5.000%  10/1/31      7,420      7,760
  Texas GO 5.000%  10/1/31      6,290      6,579
  Texas GO 5.000%  10/1/31      8,595      9,660
  Texas GO 5.000%  10/1/32     13,550     14,141
  Texas GO 5.000%  10/1/33      3,500      3,645
  Texas Municipal Gas Acquisition & Supply Corp. I Natural Gas Revenue 5.250% 12/15/25      2,150      2,179
  Texas Municipal Gas Acquisition & Supply Corp. I Natural Gas Revenue 5.250% 12/15/26      1,000      1,027
  Texas Municipal Gas Acquisition & Supply Corp. I Natural Gas Revenue 6.250% 12/15/26     31,130     32,170
  Texas Municipal Gas Acquisition & Supply Corp. III Natural Gas Revenue 5.000% 12/15/25      3,410      3,446
  Texas Municipal Gas Acquisition & Supply Corp. III Natural Gas Revenue 5.000% 12/15/26      7,700      7,877
  Texas Municipal Gas Acquisition & Supply Corp. III Natural Gas Revenue 5.000% 12/15/27     17,195     17,787
  Texas Municipal Gas Acquisition & Supply Corp. III Natural Gas Revenue 5.000% 12/15/28     20,260     21,125
  Texas Municipal Gas Acquisition & Supply Corp. III Natural Gas Revenue 5.000% 12/15/29      6,875      7,212
  Texas Municipal Gas Acquisition & Supply Corp. III Natural Gas Revenue 5.000% 12/15/30     10,345     10,906
  Texas Municipal Gas Acquisition & Supply Corp. IV Natural Gas Revenue 5.250%   1/1/29      5,480      5,811
  Texas Municipal Gas Acquisition & Supply Corp. IV Natural Gas Revenue 5.250%   1/1/30      5,625      6,025
  Texas Municipal Gas Acquisition & Supply Corp. IV Natural Gas Revenue 5.500%   1/1/31      5,470      5,996
  Texas Municipal Gas Acquisition & Supply Corp. IV Natural Gas Revenue PUT 5.500%   1/1/30     70,345     74,707
  Texas Municipal Gas Acquisition & Supply Corp. V Natural Gas Revenue 5.000%   1/1/31      1,700      1,819
  Texas Municipal Gas Acquisition & Supply Corp. V Natural Gas Revenue 5.000%   1/1/32      4,515      4,861
3 Texas Municipal Power Agency Electric Power & Light Revenue 3.000%   9/1/25        650        649
3 Texas Municipal Power Agency Electric Power & Light Revenue 3.000%   9/1/26      1,250      1,250
3 Texas Municipal Power Agency Electric Power & Light Revenue 3.000%   9/1/27      2,030      2,014
3 Texas Municipal Power Agency Electric Power & Light Revenue 3.000%   9/1/28      1,500      1,481
  Texas Private Activity Bond Surface Transportation Corp. Highway Revenue 4.000% 12/31/30      3,680      3,778
  Texas Private Activity Bond Surface Transportation Corp. Highway Revenue 4.000% 12/31/31      1,065      1,087
  Texas Private Activity Bond Surface Transportation Corp. Highway Revenue 4.000%  6/30/32      3,630      3,699
  Texas Private Activity Bond Surface Transportation Corp. Highway Revenue 4.000% 12/31/32      1,120      1,140
  Texas Private Activity Bond Surface Transportation Corp. Highway Revenue (North Tarrant Express Managed Lanes Project) 5.000% 12/31/30     15,565     16,684
  Texas Public Finance Authority College & University Revenue 5.000%   5/1/25        250        251
  Texas Public Finance Authority College & University Revenue 5.000%   5/1/26        260        264
1 Texas Public Finance Authority College & University Revenue 5.000%   5/1/26        500        510
  Texas Public Finance Authority College & University Revenue 5.000%   5/1/27      1,640      1,682
  Texas Public Finance Authority College & University Revenue 5.000%   5/1/28        725        750
1 Texas Public Finance Authority College & University Revenue 5.000%   5/1/28        640        672
  Texas Public Finance Authority College & University Revenue 5.000%   5/1/29      1,810      1,889
1 Texas Public Finance Authority College & University Revenue 5.000%   5/1/29      1,000      1,063
1 Texas Public Finance Authority College & University Revenue 5.000%   5/1/30      1,000      1,075
  Texas Public Finance Authority Lease Revenue 5.000%   2/1/26      2,555      2,609
  Texas State Affordable Housing Corp. Local or Guaranteed Housing Revenue (Texas Heroes Home Loan Program) 4.250%   3/1/49      1,425      1,435
8 Texas State Affordable Housing Corp. Local or Guaranteed Housing Revenue PUT 5.000%   2/1/26      4,111      4,183
  Texas State Affordable Housing Corp. Local or Guaranteed Housing Revenue PUT 3.625%   1/1/27      1,750      1,759
  Texas State Affordable Housing Corp. Local or Guaranteed Housing Revenue PUT 3.350%   7/1/27      6,625      6,614
3,5 Texas State Technical College & University Revenue TOB VRDO 2.450%   2/7/25      6,835      6,835
  Texas State University System College & University Revenue 5.000%  3/15/26      5,835      5,849
  Texas State University System College & University Revenue 5.000%  3/15/26      5,755      5,891
  Texas State University System College & University Revenue 5.000%  3/15/27        130        130
  Texas State University System College & University Revenue 5.000%  3/15/27      5,250      5,478
  Texas State University System College & University Revenue 5.000%  3/15/28     10,500     11,149
  Texas State University System College & University Revenue 5.000%  3/15/29      5,500      5,930
  Texas State University System College & University Revenue 5.000%  3/15/30      5,500      6,016
  Texas Tech University System College & University Revenue 3.350%  2/15/30      6,125      6,072
  Texas Transportation Commission GO PUT 0.650%   4/1/26     37,075     35,635
  Texas Water Development Board Water Revenue 5.000%  4/15/25      4,510      4,530
  Texas Water Development Board Water Revenue 5.000% 10/15/26      2,000      2,074
  Texas Water Development Board Water Revenue 5.000%  4/15/27      1,200      1,258
  Texas Water Development Board Water Revenue 5.000% 10/15/27      1,450      1,535
  Texas Water Development Board Water Revenue 5.000%  4/15/28      1,885      2,014
  Texas Water Development Board Water Revenue 5.000%  4/15/28      1,000      1,068
  Texas Water Development Board Water Revenue 5.000% 10/15/28      3,650      3,933
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Texas Water Development Board Water Revenue 5.000% 10/15/28      1,420      1,530
  Texas Water Development Board Water Revenue 5.000%  4/15/29      2,240      2,431
  Texas Water Development Board Water Revenue 5.000%  4/15/29      2,000      2,171
  Texas Water Development Board Water Revenue 5.000% 10/15/29      2,500      2,736
  Texas Water Development Board Water Revenue 5.000% 10/15/29      3,450      3,775
  Texas Water Development Board Water Revenue 5.000%  4/15/30      2,300      2,534
  Texas Water Development Board Water Revenue 5.000%  4/15/30      3,000      3,305
  Texas Water Development Board Water Revenue 5.000%  4/15/30      2,030      2,236
  Texas Water Development Board Water Revenue 4.000% 10/15/30      5,240      5,302
  Texas Water Development Board Water Revenue 4.000% 10/15/30     10,000     10,237
  Texas Water Development Board Water Revenue 5.000% 10/15/30      5,000      5,550
  Texas Water Development Board Water Revenue 5.000% 10/15/30      2,850      3,163
  Texas Water Development Board Water Revenue 5.000%  4/15/31      1,495      1,671
  Texas Water Development Board Water Revenue 5.000% 10/15/31      1,350      1,429
  Texas Water Development Board Water Revenue 5.000% 10/15/31      1,000      1,048
  Texas Water Development Board Water Revenue 5.000% 10/15/31      2,325      2,614
  Texas Water Development Board Water Revenue 4.000% 10/15/32      7,700      7,769
  Texas Water Development Board Water Revenue 4.000% 10/15/32      3,760      3,771
  Texas Water Development Board Water Revenue 5.000% 10/15/32      3,000      3,194
  Texas Water Development Board Water Revenue 4.000% 10/15/33      1,760      1,784
19 Tomball Independent School District GO 5.000%  2/15/25      5,000      5,004
19 Tomball Independent School District GO 5.000%  2/15/29      7,820      8,470
19 Tomball Independent School District GO 5.000%  2/15/30      4,910      5,407
19 Tomball Independent School District GO 4.000%  2/15/31      1,000      1,000
19 Tomball Independent School District GO 5.000%  2/15/31      5,165      5,776
19 Tomball Independent School District GO 4.000%  2/15/32      1,575      1,576
19 Tomball Independent School District GO 5.000%  2/15/32     11,490     12,938
  Travis County Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 3.750%   8/1/25      1,500      1,503
  Travis County Housing Finance Corp. Local or Guaranteed Housing Revenue PUT 4.125%   6/1/27      4,900      4,932
  Travis County TX GO 5.000%   3/1/25      5,000      5,008
  Travis County TX GO 5.000%   3/1/26      5,000      5,117
  Travis County TX GO 5.000%   3/1/33     15,760     16,930
  Trinity River Authority Water Revenue 5.000%   2/1/28        100        102
  Trinity River Authority Water Revenue (Tarrant County Water Project) 5.000%   2/1/30      2,025      2,209
19 Tyler Independent School District GO 5.000%  2/15/27      1,400      1,461
19 Tyler Independent School District GO 5.000%  2/15/28      1,000      1,063
19 Tyler Independent School District GO 5.000%  2/15/30      1,000      1,097
19 Tyler Independent School District GO 4.000%  2/15/32      3,595      3,596
  University of Houston College & University Revenue 5.000%  2/15/31      1,490      1,517
  University of Houston College & University Revenue 4.000%  2/15/32      2,240      2,240
  University of North Texas System College & University Revenue 5.000%  4/15/25      1,135      1,140
  Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue 5.000%   8/1/30        350        385
  Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue 5.000%   8/1/31        800        891
  Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue 5.000%   8/1/32        650        731
  Waco Educational Finance Corp. College & University Revenue 4.000%   3/1/25        425        425
  Waco TX GO 4.000%   2/1/28      1,725      1,771
  Waco TX GO 4.000%   2/1/29      3,590      3,673
1 Waller Consolidated Independent School District GO 5.000%  2/15/27      1,260      1,314
1 Waller Consolidated Independent School District GO 5.000%  2/15/30      1,245      1,361
19 Waller Consolidated Independent School District GO 4.000%  2/15/32      1,000      1,006
  Waxahachie TX GO 4.000%   8/1/30      1,000      1,021
19 Weslaco Independent School District GO 4.000%  2/15/32      1,220      1,227
  Williamson County TX GO 5.000%  2/15/28     10,000     10,633
  Williamson County TX GO 5.000%  2/15/29     23,265     25,131
  Williamson County TX GO 4.000%  2/15/33      2,140      2,156
  Williamson County TX GO 4.000%  2/15/34      2,250      2,264
  Williamson County TX GO, Prere. 5.000%  2/15/25         25         25
                                   2,776,014
Utah (0.2%)
  Alpine UT School District (Utah School Bond Guaranty Program) GO 2.950%  3/15/33      7,525      7,065
  Davis School District GO 4.000%   6/1/25      4,395      4,399
3 Grand County School District Local Building Authority Lease Revenue 5.000% 12/15/32        760        771
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/28      3,740      3,957
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/29      1,835      1,968
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/30      1,720      1,869
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/30      1,500      1,630
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/31      1,500      1,648
9 Utah Board of Higher Education College & University Revenue 5.500%   4/1/29     12,825     13,575
  Utah Charter School Finance Authority Charter School Aid Revenue 5.000%  4/15/25        135        135
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Utah Charter School Finance Authority Charter School Aid Revenue 5.000%  4/15/26        125        127
5 Utah Charter School Finance Authority Charter School Aid Revenue 5.250%  6/15/32        900        920
5 Utah Charter School Finance Authority Charter School Aid Revenue (Beehive Science & Technology Academy Project) 4.000% 10/15/31      1,155      1,082
  Utah County UT Health, Hospital, Nursing Home Revenue PUT 5.000%   8/1/26      4,735      4,825
  Utah Housing Corp. Local or Guaranteed Housing Revenue 6.500%   1/1/54      4,325      4,744
  Utah Housing Corp. Local or Guaranteed Housing Revenue 6.000%   7/1/54      1,290      1,420
  Utah Housing Corp. Local or Guaranteed Housing Revenue 6.000%   7/1/54      2,855      3,155
4 Utah Housing Corp. Local or Guaranteed Housing Revenue 6.500%   7/1/55      5,415      6,080
  Utah Housing Corp. Local or Guaranteed Housing Revenue PUT 3.700%   8/1/27      1,000      1,007
  Utah Infrastructure Agency Telecom Revenue 3.000% 10/15/25        265        264
  Utah Infrastructure Agency Telecom Revenue 4.000% 10/15/27        550        553
  Utah State University College & University Revenue 4.000%  12/1/27        480        484
  Utah Telecommunication Open Infrastructure Agency Sales Tax Revenue 5.000%   6/1/26        500        512
  Utah Telecommunication Open Infrastructure Agency Sales Tax Revenue 5.000%   6/1/28        700        744
  Utah Telecommunication Open Infrastructure Agency Sales Tax Revenue 5.000%   6/1/29        750        809
  Utah Telecommunication Open Infrastructure Agency Sales Tax Revenue 5.000%   6/1/30      1,000      1,095
3 Vineyard Redevelopment Agency Tax Increment/Allocation Revenue 5.000%   5/1/26        750        768
3 Vineyard Redevelopment Agency Tax Increment/Allocation Revenue 5.000%   5/1/28        450        477
                                      66,083
Vermont (0.0%)
  Vermont Economic Development Authority Health, Hospital, Nursing Home Revenue (Wake Robin Corp. Program) 4.000%   5/1/25        115        115
  Vermont Economic Development Authority Health, Hospital, Nursing Home Revenue (Wake Robin Corp. Program) 4.000%   5/1/26        500        497
  Vermont Economic Development Authority Health, Hospital, Nursing Home Revenue (Wake Robin Corp. Program) 4.000%   5/1/27        160        159
  Vermont Economic Development Authority Health, Hospital, Nursing Home Revenue (Wake Robin Corp. Program) 4.000%   5/1/28        225        223
  Vermont Economic Development Authority Health, Hospital, Nursing Home Revenue (Wake Robin Corp. Program) 4.000%   5/1/29        440        435
  Vermont Economic Development Authority Health, Hospital, Nursing Home Revenue (Wake Robin Corp. Program) 4.000%   5/1/30        225        222
  Vermont Educational & Health Buildings Financing Agency College & University Revenue (Champlain College Project) 5.000% 10/15/25      1,115      1,116
  Vermont Educational & Health Buildings Financing Agency College & University Revenue (Champlain College Project) 5.000% 10/15/31      1,000        994
                                       3,761
Virgin Islands (0.1%)
  Matching Fund Special Purpose Securitization Corp. Sales Tax Revenue 5.000%  10/1/25      1,110      1,121
  Matching Fund Special Purpose Securitization Corp. Sales Tax Revenue 5.000%  10/1/26      6,010      6,148
  Matching Fund Special Purpose Securitization Corp. Sales Tax Revenue 5.000%  10/1/27      4,310      4,453
5 Virgin Islands Public Finance Authority Government Fund/Grant Revenue 5.000%   9/1/25      2,150      2,163
                                      13,885
Virginia (1.0%)
  Albemarle County Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/26        900        914
  Albemarle County Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/28        815        849
  Albemarle County Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/29        820        865
  Alexandria Redevelopment & Housing Authority Local or Guaranteed Housing Revenue PUT 3.400%  12/1/25      2,975      2,975
  Arlington County IDA Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        265        267
  Arlington County IDA Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/31      8,000      8,656
  Arlington County IDA Local or Guaranteed Housing Revenue 5.000%   1/1/26      2,915      2,969
  Arlington County VA GO 2.500%  8/15/29     10,000      9,554
  Chesapeake Economic Development Authority Electric Power & Light Revenue PUT 3.650%  10/1/27      1,725      1,750
  Chesapeake Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/25      3,025      3,048
  Chesapeake Hospital Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/33      2,000      2,116
  Fairfax County IDA Health, Hospital, Nursing Home Revenue PUT 5.000%  5/15/30     15,350     16,654
  Fairfax County Redevelopment & Housing Authority Local or Guaranteed Housing Revenue (Dominion Square North Project) PUT 5.000%   1/1/28      2,945      3,037
  Fairfax County VA GO 5.000%  10/1/25      1,505      1,508
  Halifax County IDA Electric Power & Light Revenue (Virginia Electric & Power Co. Project) PUT 3.800%  5/28/27      4,350      4,395
  Hampton Roads Transportation Accountability Commission Appropriations Revenue BAN 5.000%   7/1/27     13,925     14,647
5 Hanover County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/29      1,700      1,686
  Harrisonburg Redevelopment & Housing Authority Local or Guaranteed Housing Revenue PUT 3.570%  10/1/27      2,485      2,497
  Henrico County Economic Development Authority Health, Hospital, Nursing Home Revenue (West Minister Canterbury Project) 5.000%  10/1/25      1,000      1,010
  Henrico County Economic Development Authority Health, Hospital, Nursing Home Revenue (West Minister Canterbury Project) 5.000%  10/1/28      1,680      1,732
3 Isle Wight County IDA Health, Hospital, Nursing Home Revenue 5.000%   7/1/27        500        521
3 Isle Wight County IDA Health, Hospital, Nursing Home Revenue 5.000%   7/1/29        500        537
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
3 Isle Wight County IDA Health, Hospital, Nursing Home Revenue 5.000%   7/1/30        500        544
3 Isle Wight County IDA Health, Hospital, Nursing Home Revenue 5.000%   7/1/31      1,160      1,276
  James City County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%  12/1/25        420        419
  James City County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%  12/1/27        885        884
  James City County Economic Development Authority Health, Hospital, Nursing Home Revenue 5.250%  12/1/27        355        355
  James City County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%  12/1/28        455        454
  James City County Economic Development Authority Health, Hospital, Nursing Home Revenue 5.500%  12/1/28        320        320
  James City County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%  12/1/29        230        229
  Loudoun County Economic Development Authority Lease (Appropriation) Revenue (Loudoun County Roads & Public Facilities Project) 5.000%  12/1/25      1,000      1,018
  Loudoun County VA GO 5.000%  12/1/27      2,110      2,242
  Loudoun County VA GO 5.000%  12/1/28      2,115      2,287
  Louisa IDA Electric Power & Light Revenue PUT 3.800%  5/28/27      2,150      2,180
  Louisa IDA Nuclear Revenue (VA Electric & Power Co. Project) PUT 0.750%   9/2/25      9,000      8,791
  Louisa IDA Nuclear Revenue PUT 3.650%  10/1/27      3,435      3,475
  Lynchburg Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/26      1,420      1,443
  Lynchburg Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/30        935      1,005
  Mosaic District Community Development Authority Lease (Appropriation) Revenue 4.000%   3/1/26      1,800      1,818
  Mosaic District Community Development Authority Lease (Appropriation) Revenue 4.000%   3/1/27      1,000      1,018
  Norfolk Economic Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  11/1/28     10,380     11,029
  Norfolk Redevelopment & Housing Authority Local or Guaranteed Housing Revenue (Braywood Manor Apartments Project) PUT 5.000%   5/1/26      1,500      1,533
  Norfolk VA GO, Prere. 5.000%  10/1/26      1,040      1,081
  Richmond Redevelopment & Housing Authority Local or Guaranteed Housing Revenue PUT 3.450%   9/1/28      1,352      1,352
  Roanoke Economic Development Authority College & University Revenue 5.000%   9/1/32      1,085      1,109
  Roanoke Economic Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/30      4,140      4,464
  Rockingham County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%  12/1/26        910        913
  Rockingham County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%  12/1/27        955        961
  Rockingham County Economic Development Authority Health, Hospital, Nursing Home Revenue 4.000%  12/1/28      1,000      1,008
  Stafford County Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%  6/15/28      1,000      1,022
  Virginia Beach Development Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25        910        913
  Virginia Beach Development Authority Health, Hospital, Nursing Home Revenue 5.375%   9/1/29      2,470      2,537
  Virginia Beach Development Authority Health, Hospital, Nursing Home Revenue 5.750%   9/1/30     10,215     10,496
  Virginia College Building Authority Appropriations Revenue 4.000%   2/1/32      8,355      8,356
  Virginia College Building Authority Appropriations Revenue 4.000%   2/1/33      9,600      9,601
  Virginia College Building Authority Appropriations Revenue 4.000%   2/1/34      8,935      8,935
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/26      5,000      5,112
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/31      2,200      2,288
  Virginia College Building Authority College & University Revenue (Regent University Project) 5.000%   6/1/25        350        351
  Virginia College Building Authority College & University Revenue (Regent University Project) 5.000%   6/1/27        400        411
  Virginia College Building Authority College & University Revenue (Regent University Project) 5.000%   6/1/28        425        440
  Virginia Commonwealth Transportation Board Appropriations Revenue (Capital Projects) 5.000%  5/15/25      4,090      4,115
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 5.000%  5/15/27     15,500     16,287
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 5.000%  5/15/28     18,275     19,563
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue 3.850%   6/1/28      2,860      2,869
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue 1.300%  12/1/28      1,165      1,040
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue 3.900%  12/1/28      7,445      7,472
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue 3.650%   3/1/29      8,285      8,269
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue 3.625%   6/1/29      2,815      2,806
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue 3.950%   6/1/29      1,250      1,257
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue 1.550%  12/1/29        500        440
  Virginia Housing Development Authority Local or Guaranteed Housing Revenue PUT 3.900%   7/1/25     19,355     19,368
  Virginia Public School Authority Intergovernmental Agreement Revenue 4.000%   8/1/25      5,065      5,073
  Virginia Public School Authority Intergovernmental Agreement Revenue 5.000%   8/1/27      6,915      6,986
  Virginia Small Business Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/26      1,210      1,228
  Virginia Small Business Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  12/1/26        235        231
  Virginia Small Business Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/27      1,615      1,660
  Virginia Small Business Financing Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/31      2,750      2,910
5,6 Virginia Small Business Financing Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.600%   2/6/25      3,860      3,860
  Winchester Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/28      1,100      1,159
  Winchester Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/29      1,250      1,336
  Winchester Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/30      1,000      1,084
  Winchester Economic Development Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/31      2,500      2,534
  Wise County IDA Electric Power & Light Revenue (VA Electric & Power Co. Project) PUT 0.750%   9/2/25      7,885      7,700
  Wise County IDA Electric Power & Light Revenue (Virginia Electric & Power Co. Project) PUT 3.800%  5/28/27      2,100      2,124
  York County Economic Development Authority Electric Power & Light Revenue (Virginia Electric & Power Co. Project) PUT 3.650%  10/1/27      2,765      2,805
                                     310,033
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
Washington (2.2%)
  Auburn School District No. 408 of King & Pierce Counties GO 4.000%  12/1/32      3,455      3,486
  Benton County School District No 400 Richland GO 5.000%  12/1/31      1,500      1,565
  Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. 4.000%  11/1/25     10,000     10,094
  Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. 5.000%  11/1/25     10,000     10,167
2 Central Puget Sound Regional Transit Authority Sales Tax Revenue, SIFMA Municipal Swap Index Yield + 0.200% 2.450%  11/1/45      5,310      5,268
9 Chelan County Public Utility District No. 1 Electric Power & Light Revenue 0.000%   6/1/28      2,800      2,509
  Clark County Public Utility District No. 1 Electric Power & Light Revenue 5.000%   1/1/29      1,000      1,078
  Clark County Public Utility District No. 1 Electric Power & Light Revenue 5.000%   1/1/31      2,795      3,092
  Clark County School District No. 117 Camas GO 4.000%  12/1/30      3,825      3,866
  Community Roots Housing Foundation Local or Guaranteed Housing Revenue PUT 3.400%   2/1/28      7,125      7,136
  Energy Northwest Nuclear Revenue (Project No. 1) 5.000%   7/1/27     10,605     11,175
  Franklin County School District No. 1 Pasco GO 4.000%  12/1/27      3,990      4,126
  Franklin County School District No. 1 Pasco GO 4.000%  12/1/28      6,060      6,324
  Franklin County School District No. 1 Pasco GO 5.000%  12/1/32      2,790      2,934
  Grant & Douglas Counties School District No. 144-101 Quincy GO 4.000%  12/1/32      3,610      3,630
  Grant County Public Utility District No. 2 Electric Power & Light Revenue (Priest Rapids Hydroelectric Project) 5.000%   1/1/26      1,120      1,142
  Grant County Public Utility District No. 2 Electric Power & Light Revenue (Priest Rapids Hydroelectric Project) 5.000%   1/1/30      2,200      2,408
  Grant County Public Utility District No. 2 Electric Power & Light Revenue PUT 2.000%  12/1/25     13,845     13,690
  King County Housing Authority Local or Guaranteed Housing Revenue 3.000%   6/1/25        140        140
  King County Housing Authority Local or Guaranteed Housing Revenue 3.000%  10/1/25         75         75
  King County Housing Authority Local or Guaranteed Housing Revenue 4.000%   6/1/26        450        455
  King County Housing Authority Local or Guaranteed Housing Revenue 4.000%  10/1/26         75         76
  King County Housing Authority Local or Guaranteed Housing Revenue 4.000%   6/1/27        650        657
  King County Housing Authority Local or Guaranteed Housing Revenue 4.000%  10/1/27        150        152
  King County Housing Authority Local or Guaranteed Housing Revenue 4.000%  10/1/28        150        152
  King County Housing Authority Local or Guaranteed Housing Revenue (Kirkland Heights Project) 5.000%   1/1/28      1,000      1,015
  King County Housing Authority Local or Guaranteed Housing Revenue (Kirkland Heights Project) 5.000%   1/1/28      1,655      1,709
4 King County School District No. 401 Highline GO 5.000%  12/1/28      1,250      1,350
4 King County School District No. 401 Highline GO 5.000%  12/1/30      1,800      2,007
  King County School District No. 403 Renton GO 5.000%  12/1/25      1,000      1,018
  King County School District No. 405 Bellevue GO 4.000%  12/1/32      1,220      1,245
  King County School District No. 410 Snoqualmie Valley GO 5.000%  12/1/32      3,200      3,217
  King County School District No. 411 Issaquah GO 4.000%  12/1/31      1,000      1,007
  King County School District No. 411 Issaquah GO 5.000%  12/1/32      3,750      3,876
  King County WA Sewer Revenue 5.000%   1/1/31      2,250      2,508
  King County WA Sewer Revenue PUT 0.875%   1/1/26      1,880      1,829
2 King County WA Sewer Revenue, SIFMA Municipal Swap Index Yield + 0.230% 2.480%   1/1/40     23,740     23,514
10 Klickitat County Public Utility District No. 1 Electric Power & Light Revenue 5.000%  12/1/29      1,000      1,087
10 Klickitat County Public Utility District No. 1 Electric Power & Light Revenue 5.000%  12/1/30      1,050      1,157
10 Klickitat County Public Utility District No. 1 Electric Power & Light Revenue 5.000%  12/1/31      1,100      1,222
  Pierce & King Counties WA School District No. 417 Fife GO 4.000%  12/1/32      2,320      2,359
  Pierce County School District No. 320 Sumner GO 4.000%  12/1/31      1,260      1,271
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   3/1/26      1,335      1,367
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   3/1/27      1,535      1,602
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   3/1/28      1,600      1,698
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   3/1/29      1,750      1,888
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   8/1/29      3,000      3,258
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   3/1/30        720        787
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   8/1/30      7,045      7,747
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   3/1/31      1,450      1,608
  Richland WA Waterworks Utility Water Revenue 5.000%  11/1/33      1,270      1,324
  Seattle Housing Authority Local or Guaranteed Housing Revenue (Juniper Apartments Project) 5.000%   6/1/27      4,500      4,614
  Seattle Housing Authority Local or Guaranteed Housing Revenue (Juniper Apartments Project) 4.375%  12/1/30      4,745      4,811
  Seattle Housing Authority Local or Guaranteed Housing Revenue (Northgate Plaza Project) 1.000%   6/1/26      4,340      4,167
  Seattle WA Drainage & Wastewater Sewer Revenue 4.000%   5/1/29      1,730      1,730
  Seattle WA Drainage & Wastewater Sewer Revenue 4.000%   4/1/32      4,455      4,487
  Seattle WA Drainage & Wastewater Sewer Revenue 4.000%   7/1/33      1,415      1,438
  Seattle WA Municipal Light & Power Electric Power & Light Revenue 4.000%  10/1/28      1,915      1,946
2 Seattle WA Municipal Light & Power Electric Power & Light Revenue, SIFMA Municipal Swap Index Yield + 0.250% 2.500%   5/1/45      8,025      7,905
  Skagit County Consolidated School District No. 320 Mount Vernon GO 5.000%  12/1/31      1,000      1,052
  Skagit County Public Hospital District No. 1 Health, Hospital, Nursing Home Revenue 5.000%  12/1/30      2,825      2,865
  Snohomish County School District No. 4 Lake Stevens GO 4.000%  12/1/32      1,150      1,157
  Spokane WA GO 4.000%  12/1/29      1,535      1,535
  Spokane WA Water & Wastewater Water Revenue 4.000%  12/1/30      9,190      9,191
  Spokane WA Water & Wastewater Water Revenue 4.000%  12/1/32      1,470      1,461
  Tacoma WA Sewer Revenue 4.000%  12/1/33      6,440      6,443
  University of Washington College & University Revenue 4.000%  12/1/30      2,835      2,850
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  University of Washington College & University Revenue PUT 4.000%   8/1/27     18,805     19,118
  Vancouver Housing Authority Local or Guaranteed Housing Revenue (Cougar Creek Project) 5.000%  10/1/27      1,460      1,498
  Washington GO 5.000%   6/1/25      3,000      3,021
  Washington GO 5.000%   8/1/25      5,135      5,192
  Washington GO 5.000%   7/1/26     10,000     10,318
  Washington GO 5.000%   8/1/26     10,000     10,337
  Washington GO 5.000%   2/1/27      7,850      8,200
  Washington GO 5.000%   7/1/27      7,000      7,371
  Washington GO 5.000%   8/1/27     10,000     10,548
  Washington GO 5.000%   2/1/28      3,000      3,000
  Washington GO 4.000%   7/1/28     25,000     25,916
  Washington GO 4.000%   7/1/28      5,000      5,183
  Washington GO 5.000%   7/1/28     10,000     10,714
  Washington GO 5.000%   8/1/28     10,000     10,729
  Washington GO 5.000%   6/1/29      5,120      5,571
  Washington GO 5.000%   8/1/29      1,190      1,251
  Washington GO 5.000%   7/1/30     18,500     20,487
  Washington GO 5.000%   8/1/30      1,125      1,181
  Washington GO 5.000%   7/1/31     25,000     28,063
  Washington GO 5.000%   8/1/31     15,775     16,523
  Washington GO 5.000%   8/1/31      3,000      3,027
  Washington GO 5.000%   7/1/32     12,000     13,619
  Washington GO 5.000%   8/1/35      1,000      1,008
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      1,100      1,110
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/25      2,000      2,019
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/25      2,235      2,249
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/25        670        676
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      1,945      1,999
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/26      2,250      2,313
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/26        790        802
4 Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/28      1,000      1,059
4 Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/29      1,430      1,536
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/29      1,990      2,089
4 Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/30      1,150      1,251
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/30      1,350      1,405
4 Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/31      2,000      2,200
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/31      1,690      1,753
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/31      3,000      3,019
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/31      3,520      3,677
4 Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/32      2,390      2,658
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/32      1,000      1,066
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/32      1,000      1,066
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      4,000      4,024
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/32      2,525      2,614
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/32      3,190      3,325
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/33     10,140     10,195
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/33      4,070      4,072
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/34     19,350     19,450
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/34      2,565      2,557
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   8/1/25     33,020     33,075
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   8/1/26     24,710     25,247
  Washington Health Care Facilities Authority Health, Hospital, Nursing Home Revenue PUT 4.000%  10/1/30     44,950     45,941
  Washington Higher Education Facilities Authority College & University Revenue (Seattle Pacific University Project) 4.000%   5/1/33      1,525      1,531
  Washington Higher Education Facilities Authority College & University Revenue (Whitworth University Project) 5.000%  10/1/28        540        557
  Washington State Convention Center Public Facilities District Hotel Occupancy Tax Revenue 5.000%   7/1/26        350        357
  Washington State Convention Center Public Facilities District Hotel Occupancy Tax Revenue 5.000%   7/1/27        200        207
  Washington State Convention Center Public Facilities District Hotel Occupancy Tax Revenue 4.000%   7/1/31     22,385     22,694
  Washington State Convention Center Public Facilities District Hotel Occupancy Tax Revenue 4.000%   7/1/31        370        372
  Washington State Convention Center Public Facilities District Hotel Occupancy Tax Revenue 5.000%   7/1/31      1,185      1,275
  Washington State Convention Center Public Facilities District Hotel Occupancy Tax Revenue 4.000%   7/1/32      2,000      2,003
  Washington State Housing Finance Commission Health, Hospital, Nursing Home Revenue (Emerald Heights Project) 5.000%   7/1/25        350        352
  Washington State Housing Finance Commission Health, Hospital, Nursing Home Revenue (Emerald Heights Project) 5.000%   7/1/27        350        360
  Washington State Housing Finance Commission Health, Hospital, Nursing Home Revenue (Emerald Heights Project) 5.000%   7/1/28        555        577
  Washington State Housing Finance Commission Health, Hospital, Nursing Home Revenue (Emerald Heights Project) 5.000%   7/1/29        775        814
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Washington State Housing Finance Commission Health, Hospital, Nursing Home Revenue (Emerald Heights Project) 5.000%   7/1/30        810        861
5 Washington State Housing Finance Commission Health, Hospital, Nursing Home Revenue (Wesley Homes Lea Hill Project) 3.750%   7/1/26        830        813
5 Washington State Housing Finance Commission Local or Guaranteed Housing Revenue 3.950%   7/1/29      4,000      4,001
  Washington State Housing Finance Commission Local or Guaranteed Housing Revenue 5.000%   7/1/29        655        696
  Washington State Housing Finance Commission Local or Guaranteed Housing Revenue 5.000%   7/1/30      1,310      1,406
  Washington State Housing Finance Commission Local or Guaranteed Housing Revenue 5.000%   7/1/31      1,695      1,837
  Washington State Housing Finance Commission Local or Guaranteed Housing Revenue 3.000%  12/1/50        775        760
  Washington State Housing Finance Commission Local or Guaranteed Housing Revenue 5.000%  12/1/52      2,530      2,625
  Washington State Housing Finance Commission Local or Guaranteed Housing Revenue (Camas Flats Apartments Project) PUT 5.000%   2/1/27        600        619
  Washington State University College & University Revenue 5.000%   4/1/28      1,765      1,877
  Washington State University College & University Revenue 5.000%   4/1/29      1,275      1,377
  Washington State University College & University Revenue 5.000%   4/1/30      1,010      1,013
  Washington State University College & University Revenue 5.000%   4/1/30      2,000      2,189
  Washington State University College & University Revenue 5.000%   4/1/31        770        854
  Washington State University College & University Revenue 5.000%   4/1/32        785        880
                                     684,948
West Virginia (0.2%)
3 Cabell County Board of Education GO 2.000%   6/1/26      3,685      3,615
3 Cabell County Board of Education GO 2.000%   6/1/27      4,510      4,349
3 Cabell County Board of Education GO 2.000%   6/1/28      3,400      3,213
  Monongalia County Building Commission Health, Hospital, Nursing Home Revenue 5.000%   7/1/25        480        482
  Monongalia County Building Commission Health, Hospital, Nursing Home Revenue 5.000%   7/1/27      2,565      2,573
5 Monongalia County WV Tax Increment/Allocation Revenue 5.000%   6/1/33        825        860
  West Virginia Economic Development Authority Industrial Revenue PUT 0.625% 12/15/25      4,750      4,622
  West Virginia Economic Development Authority Industrial Revenue PUT 3.375%  6/15/28      4,175      4,143
  West Virginia Economic Development Authority Lottery Revenue 4.000%  6/15/32      2,400      2,435
  West Virginia GO 5.000%  12/1/31      1,000      1,060
  West Virginia Higher Education Policy Commission College & University Revenue 5.000%   7/1/25      1,150      1,160
  West Virginia Higher Education Policy Commission College & University Revenue 5.000%   7/1/30      2,065      2,150
  West Virginia Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25        875        876
  West Virginia Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/26      1,370      1,381
  West Virginia Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/26      1,050      1,051
  West Virginia Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/27        900        901
  West Virginia Hospital Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/31        775        806
5 West Virginia Hospital Finance Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.400%   2/6/25      5,765      5,765
  West Virginia Housing Development Fund Local or Guaranteed Housing Revenue PUT 5.000%   4/1/27        600        620
  West Virginia Lottery Excess Lottery Revenue 5.000%   7/1/25      2,465      2,487
  West Virginia University College & University Revenue (West Virginia University Project) PUT 5.000%  10/1/29      1,890      2,024
                                      46,573
Wisconsin (2.4%)
  Brown County WI GO 2.750%  11/1/29        595        568
  Burnett County WI GO 2.000%  11/1/26      1,010        979
  Burnett County WI GO 3.000%  11/1/27      1,285      1,280
  Burnett County WI GO 3.000%  11/1/28      1,325      1,310
  Dane County WI GO 2.000%   4/1/27      3,405      3,263
  Dane County WI GO 2.000%   4/1/28      1,715      1,612
  Fort Atkinson WI Miscellaneous Revenue 5.000%   2/1/27      1,500      1,533
  Glenwood City School District GO 2.750%   3/1/29        540        520
  Jefferson County WI GO 2.600%   4/1/30        445        418
  Madison WI GO 1.250%  10/1/31      7,725      6,327
  Madison WI Metropolitan School District GO 1.375%   3/1/31      4,760      3,943
  Middleton-Cross Plains WI Area School District GO 3.000%   3/1/28      3,125      3,115
  Middleton-Cross Plains WI Area School District GO 3.000%   3/1/29      2,785      2,764
  Milwaukee WI GO 4.000%  3/15/25      3,000      3,004
  Milwaukee WI GO 5.000%   4/1/26      3,785      3,867
  Milwaukee WI GO 5.000%   4/1/26      5,425      5,543
  Milwaukee WI GO 5.000%   4/1/26     12,535     12,807
3 Milwaukee WI GO 5.000%   4/1/26      1,345      1,374
  Milwaukee WI GO 5.000%   4/1/27      5,240      5,451
  Milwaukee WI GO 5.000%   4/1/27      2,945      3,064
  Milwaukee WI GO 5.000%   4/1/27      8,800      9,155
1 Milwaukee WI GO 5.000%   4/1/27      1,310      1,369
3 Milwaukee WI GO 5.000%   4/1/27      1,350      1,410
1 Milwaukee WI GO 5.000%   4/1/27      1,460      1,525
  Milwaukee WI GO 5.000%   4/1/28      3,735      3,943
  Milwaukee WI GO 5.000%   4/1/28      3,025      3,194
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Milwaukee WI GO 5.000%   4/1/28      8,805      9,296
3 Milwaukee WI GO 5.000%   4/1/28      6,665      7,080
1 Milwaukee WI GO 5.000%   4/1/28      1,320      1,402
3 Milwaukee WI GO 5.000%   4/1/28      1,680      1,785
  Milwaukee WI GO 5.000%   4/1/29      1,050      1,124
  Milwaukee WI GO 5.000%   4/1/29      3,615      3,739
1 Milwaukee WI GO 5.000%   4/1/29      2,655      2,860
3 Milwaukee WI GO 5.000%   4/1/29      1,685      1,815
1 Milwaukee WI GO 5.000%  12/1/29      3,760      4,091
  Milwaukee WI GO 5.000%   4/1/30      1,335      1,380
3 Milwaukee WI GO 5.000%   4/1/30      6,765      7,380
1 Milwaukee WI GO 5.000%  12/1/30      3,760      4,139
  Milwaukee WI GO 5.000%   4/1/31      1,770      1,828
1 Milwaukee WI GO 5.000%  12/1/31      3,760      4,185
1 Milwaukee WI GO 5.000%  12/1/32      3,705      4,162
1 Milwaukee WI GO 3.000%   4/1/33      1,415      1,324
  Milwaukee WI Sewerage System Sewer Revenue 5.000%   6/1/26        500        512
  Milwaukee WI Sewerage System Sewer Revenue 5.000%   6/1/28      1,800      1,905
  Oregon WI GO 3.000%   3/1/30        195        190
  Oregon WI School District GO 2.700%   3/1/27      1,075      1,049
  Oregon WI School District GO 3.050%   3/1/30      3,190      3,131
  Platteville WI GO 3.000%   9/1/30        300        290
  Public Finance Authority Charter School Aid Revenue 4.000%   7/1/26        185        184
  Public Finance Authority Charter School Aid Revenue 4.000%   7/1/28        470        472
5 Public Finance Authority Charter School Aid Revenue 5.000%  6/15/34      4,550      4,607
5 Public Finance Authority Charter School Aid Revenue 4.000%  7/15/34      1,200      1,175
5 Public Finance Authority Charter School Aid Revenue (College Achieve Paterson Charter School Project) 5.000%  6/15/26        430        433
5 Public Finance Authority Charter School Aid Revenue (College Achieve Paterson Charter School Project) 5.000%  6/15/28        275        278
5 Public Finance Authority Charter School Aid Revenue (College Achieve Paterson Charter School Project) 5.000%  6/15/28        440        446
5 Public Finance Authority Charter School Aid Revenue (College Achieve Paterson Charter School Project) 4.000%  6/15/29        450        439
5 Public Finance Authority Charter School Aid Revenue (Master Academy of Nevada - East Las Vegas Campus Project) 5.000% 12/15/34        415        430
  Public Finance Authority College & University Revenue 5.000%   4/1/30      1,215      1,250
  Public Finance Authority College & University Revenue 5.000%   4/1/31      1,275      1,315
  Public Finance Authority College & University Revenue 5.250%  10/1/31      1,030      1,051
  Public Finance Authority College & University Revenue 5.250%  10/1/32        720        732
  Public Finance Authority Electric Power & Light Revenue (Duke Energy Progress Project) PUT 3.300%  10/1/26     15,070     15,072
  Public Finance Authority Electric Power & Light Revenue (Duke Energy Progress Project) PUT 3.700%  10/1/30     18,785     18,798
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/25      1,490      1,497
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/25        225        226
5 Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/25        260        261
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/25      6,155      6,237
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/26        445        451
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/26        400        407
  Public Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/26      1,215      1,215
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/26      3,000      3,095
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/27      1,100      1,131
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/27      3,880      3,966
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/27        850        880
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/27        460        476
  Public Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/27        365        366
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   1/1/28      2,295      2,387
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/28        250        262
  Public Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/28        255        256
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/28      4,045      4,312
5 Public Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   9/1/29        225        222
  Public Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/29        320        321
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/30      1,800      1,789
5 Public Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/30      1,975      1,913
  Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/30      1,050      1,073
  Public Finance Authority Health, Hospital, Nursing Home Revenue (Bayhealth Medical Center Project) 5.000%   7/1/27      1,080      1,128
  Public Finance Authority Health, Hospital, Nursing Home Revenue (Bayhealth Medical Center Project) 5.000%   7/1/28        875        928
  Public Finance Authority Health, Hospital, Nursing Home Revenue (Bayhealth Medical Center Project) 5.000%   7/1/29      1,000      1,076
  Public Finance Authority Health, Hospital, Nursing Home Revenue (Kahala Nui Project) 5.000% 11/15/26        275        283
  Public Finance Authority Health, Hospital, Nursing Home Revenue (Kahala Nui Project) 5.000% 11/15/29        300        319
  Public Finance Authority Health, Hospital, Nursing Home Revenue (Kahala Nui Project) 5.000% 11/15/32        460        500
5 Public Finance Authority Health, Hospital, Nursing Home Revenue (Searstone CCRC Project) 5.000%   6/1/27      4,350      4,427
5 Public Finance Authority Health, Hospital, Nursing Home Revenue (Searstone CCRC Project) 4.000%   6/1/31      7,830      7,697
  Public Finance Authority Health, Hospital, Nursing Home Revenue PUT 4.000%  10/1/30     16,925     17,177
  Public Finance Authority Health, Hospital, Nursing Home Revenue, ETM 5.000% 11/15/25      4,485      4,546
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Public Finance Authority Health, Hospital, Nursing Home Revenue, ETM 5.000% 11/15/26      4,710      4,853
  Public Finance Authority Intergovernmental Agreement Revenue PUT 4.000%   7/1/26     21,315     21,323
  Public Finance Authority Intergovernmental Agreement Revenue PUT 4.000%   2/1/27     15,322     15,206
  Public Finance Authority Intergovernmental Agreement Revenue PUT 4.000%   8/1/27     25,640     25,341
5 Public Finance Authority Local or Guaranteed Housing Revenue 5.000%   7/1/29        630        655
  Public Finance Authority Local or Guaranteed Housing Revenue 4.100%  9/25/39     12,250     11,938
  Sauk Prairie School District GO 5.000%   3/1/27        225        234
10 Sparta Area School District GO 5.000%   3/1/26        370        378
10 Sparta Area School District GO 5.000%   3/1/28        135        143
10 Sparta Area School District GO 5.000%   3/1/29        750        808
10 Sparta Area School District GO 5.000%   3/1/30      1,500      1,640
  Sussex WI GO 2.500%   3/1/30        345        322
  University of Wisconsin Hospitals & Clinics Health, Hospital, Nursing Home Revenue 5.000%   4/1/30        750        821
  University of Wisconsin Hospitals & Clinics Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/31      5,745      6,311
  Verona Area School District GO 5.000%   4/1/25      1,695      1,701
  Waukesha WI GO 2.000%  10/1/26      2,455      2,383
  Waukesha WI GO 2.000%  10/1/27      3,000      2,860
  Waukesha WI GO 2.000%  10/1/28      3,000      2,808
  Waunakee Community School District GO 3.250%   4/1/28     24,000     23,940
  Wausau School District GO 5.000%   3/1/28      2,845      3,017
  Wausau School District GO 5.000%   3/1/29      4,530      4,872
  Waushara County WI Miscellaneous Revenue 4.500%   6/1/27      2,630      2,640
  Wauwatosa School District GO 5.000%   3/1/25      5,550      5,559
  Williams Bay WI GO 2.750%   4/1/30        325        304
  Winneconne Community School District GO 2.625%   4/1/30        400        377
3 Wisconsin Center District Miscellaneous Taxes Revenue 0.000% 12/15/28      1,050        910
3 Wisconsin Center District Miscellaneous Taxes Revenue 0.000% 12/15/28        265        230
4 Wisconsin GO 5.000%   5/1/26     13,615     13,982
4 Wisconsin GO 5.000%   5/1/27      9,225      9,690
4 Wisconsin GO 5.000%   5/1/28      4,065      4,350
  Wisconsin GO 5.000%   5/1/29      3,250      3,541
4 Wisconsin GO 5.000%   5/1/29      2,865      3,121
  Wisconsin GO 5.000%   5/1/30      5,000      5,537
  Wisconsin GO 5.000%   5/1/31      7,370      8,287
  Wisconsin Health & Educational Facilities Authority College & University Revenue 5.000%  10/1/25        600        607
  Wisconsin Health & Educational Facilities Authority College & University Revenue 5.000%  10/1/26      1,100      1,133
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/25        400        400
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/25        240        240
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/25        125        127
3 Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/26        685        697
5 Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/26      1,000      1,001
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/26        400        406
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26      1,000      1,024
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/26        350        351
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/26      2,855      2,859
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/26        200        206
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/27        715        714
3 Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/27      3,000      3,105
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/27        400        412
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/27        150        156
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/27      3,130      3,209
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%   1/1/28        750        748
3 Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/28        850        893
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/28        515        537
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/28        275        291
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.200%  8/15/28      2,500      2,488
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/28      8,000      8,009
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/29     13,045     13,772
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/29        175        187
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/29      2,500      2,503
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/30        275        298
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/31      6,195      6,655
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%   4/1/31      5,145      5,321
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/31      1,000      1,020
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 5.000%  2/15/32      5,970      6,456
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000%  8/15/32      2,000      2,016
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue 4.000% 11/15/35      7,195      7,198
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  6/24/26      2,260      2,315
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  6/24/26      1,575      1,613
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  7/29/26     10,075     10,331
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  2/15/27      8,330      8,501
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   7/1/27      8,130      8,350
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  6/22/29      4,345      4,661
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  6/22/29      3,885      4,162
5,6 Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.200%   2/3/25     12,800     12,800
5 Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.450%   2/6/25      8,075      8,075
  Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue, Prere. 4.000%  5/15/26      4,360      4,418
2 Wisconsin Health & Educational Facilities Authority Health, Hospital, Nursing Home Revenue, SIFMA Municipal Swap Index Yield + 0.180% 2.430%  8/15/54     13,075     12,916
  Wisconsin Health & Educational Facilities Authority Local or Guaranteed Housing Revenue 3.625%  11/1/29        410        406
  Wisconsin Health & Educational Facilities Authority Local or Guaranteed Housing Revenue 4.000%  11/1/34      1,000      1,008
5 Wisconsin Health & Educational Facilities Authority Miscellaneous Revenue (Forensic Science & Protective Medicine Collabration Inc. Project) 5.000%   8/1/27      5,500      5,603
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 0.700%   3/1/25        475        474
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 0.850%   9/1/25        900        882
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 0.950%   3/1/26        875        839
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.050%   9/1/26        820        779
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.150%   3/1/27        850        797
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.850%   3/1/27      1,225      1,161
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.250%   9/1/27        870        803
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.400%   3/1/28        750        692
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.500%   9/1/28        790        723
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.600%   3/1/29        855        765
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 1.700%   9/1/29        835        742
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 4.000%   3/1/47      3,145      3,156
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 4.000%   3/1/48      2,470      2,474
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 4.250%   3/1/49      1,035      1,044
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 3.000%   3/1/52      1,445      1,412
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 3.000%   9/1/52      2,980      2,913
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 5.000%   3/1/53      9,395      9,700
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 6.000%   3/1/54      2,160      2,361
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 6.000%   3/1/55      2,750      2,989
  Wisconsin Housing & Economic Development Authority Home Ownership Local or Guaranteed Housing Revenue 6.000%   3/1/55      2,215      2,426
  Wisconsin Housing & Economic Development Authority Housing Local or Guaranteed Housing Revenue PUT 0.810%   5/1/25      1,590      1,576
  Wisconsin Housing & Economic Development Authority Housing Local or Guaranteed Housing Revenue PUT 4.000%  11/1/25      8,850      8,853
  Wisconsin Housing & Economic Development Authority Housing Local or Guaranteed Housing Revenue PUT 3.750%  11/1/26     12,300     12,311
  Wisconsin Housing & Economic Development Authority Housing Local or Guaranteed Housing Revenue PUT 3.875%   5/1/27      1,270      1,274
  Wisconsin Housing & Economic Development Authority Housing Local or Guaranteed Housing Revenue PUT 3.750%   5/1/28     12,500     12,477
  Wisconsin Housing & Economic Development Authority Local or Guaranteed Housing Revenue (100 E . National Project) PUT 5.000%   8/1/26      1,035      1,060
  Wisconsin Housing & Economic Development Authority Local or Guaranteed Housing Revenue (New Hampton Gardens Project) PUT 5.000%  12/1/26      7,500      7,737
  Wisconsin Housing & Economic Development Authority Local or Guaranteed Housing Revenue (The Intersect Project) PUT 5.000%   2/1/27      1,625      1,679
  Wisconsin Housing & Economic Development Authority Local or Guaranteed Housing Revenue (View at Huxley Yards Project) PUT 5.000%   8/1/26     25,067     25,719
                                     725,609
Wyoming (0.1%)
  Laramie County WY Health, Hospital, Nursing Home Revenue 4.000%   5/1/25        120        120
  Laramie County WY Health, Hospital, Nursing Home Revenue 4.000%   5/1/26         95         96
  Laramie County WY Health, Hospital, Nursing Home Revenue 4.000%   5/1/27        205        208
  Laramie County WY Health, Hospital, Nursing Home Revenue 4.000%   5/1/28        220        224
Vanguard® Limited-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Laramie County WY Health, Hospital, Nursing Home Revenue 4.000%   5/1/29        120        123
  Laramie County WY Health, Hospital, Nursing Home Revenue 4.000%   5/1/30        500        512
  Sweetwater County WY Industrial Revenue (Idaho Power Co. Project) 1.700%  7/15/26     34,000     32,899
  Wyoming Community Development Authority Local or Guaranteed Housing Revenue 3.500%   6/1/52        855        847
  Wyoming Community Development Authority Local or Guaranteed Housing Revenue 5.750%   6/1/53      2,895      3,060
                                      38,089
Total Tax-Exempt Municipal Bonds (Cost $30,259,153) 30,146,945
Taxable Municipal Bonds (0.1%)
Puerto Rico (0.1%)
  Commonwealth of Puerto Rico CVI 0.000%  11/1/43     31,790     19,932
  Commonwealth of Puerto Rico CVI 0.000%  11/1/51     17,114     10,902
Total Taxable Municipal Bonds (Cost $30,131) 30,834
        Shares  
Temporary Cash Investments (2.5%)
Investment Company (2.5%)
20 Vanguard Municipal Low Duration Fund (Cost $766,054) 2.123%          76,605,565    766,056
Total Investments (100.7%) (Cost $31,055,338) 30,943,835
Other Assets and Liabilities—Net (-0.7%) (205,831)
Net Assets (100%) 30,738,004
Cost is in $000.
1 Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co.
2 Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions.
3 Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp.
4 Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of January 31, 2025.
5 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2025, the aggregate value was $1,386,250,000, representing 4.5% of net assets.
6 Scheduled principal and interest payments are guaranteed by bank letter of credit.
7 Non-income-producing security—security in default.
8 Scheduled principal and interest payments are guaranteed by Federal Housing Authority.
9 Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp.
10 Scheduled principal and interest payments are guaranteed by Assured Guaranty Corp.
11 Scheduled principal and interest payments are guaranteed by Ambac Assurance Corp.
12 Scheduled principal and interest payments are guaranteed by Financial Guaranty Insurance Co.
13 Step bond.
14 Scheduled principal and interest payments are guaranteed by Municipal Bond Insurance Association.
15 Scheduled principal and interest payments are guaranteed by Michigan School Board Loan Fund.
16 The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock.
17 Securities with a value of $1,877,000 have been segregated as initial margin for open futures contracts.
18 Scheduled principal and interest payments are guaranteed by Berkshire Hathaway Assurance Corp.
19 Scheduled principal and interest payments are guaranteed by Texas Permanent School Fund.
20 Affiliated short-term municipal bond fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
  BAN—Bond Anticipation Note.
  COP—Certificate of Participation.
  CVI—Contingent Value Instruments.
  ETM—Escrowed to Maturity.
  GAN—Grant Anticipation Note.
  GO—General Obligation Bond.
  IDA—Industrial Development Authority Bond.
  PILOT—Payments in Lieu of Taxes.
  Prere.—Prerefunded.
  PUT—Put Option Obligation.
  RAN—Revenue Anticipation Note.
  SIFMA—Securities Industry and Financial Markets Association.
  SOFR—Secured Overnight Financing Rate.
  TOB—Tender Option Bond.
  TRAN—Tax Revenue Anticipation Note.
  VRDO—Variable Rate Demand Obligation.
  VRDP—Variable Rate Demand Preferred.
Vanguard® Limited-Term Tax-Exempt Fund
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts 		Notional
Amount 		Value and
Unrealized
Appreciation
(Depreciation)
Short Futures Contracts        
Ultra 10-Year U.S. Treasury Note March 2025 (488) (54,351) (8)
A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and other temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Investments in Vanguard Municipal Low Duration Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
B. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund’s investments and derivatives as of January 31, 2025, based on the inputs used to value them:
  Level 1
($000) 		Level 2
($000) 		Level 3
($000) 		Total
($000)
Investments         
Assets        
Tax-Exempt Municipal Bonds — 30,146,945 — 30,146,945
Taxable Municipal Bonds — 30,834 — 30,834
Temporary Cash Investments 766,056 — — 766,056
Total 766,056 30,177,779 — 30,943,835
Derivative Financial Instruments         
Liabilities        
Futures Contracts1 (8) — — (8)
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.