Vanguard® Intermediate-Term Tax-Exempt Bond ETF
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 (99.4%)
Alabama (0.7%)
  Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, ETM 5.000%   9/1/25       125     127
  Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, ETM 5.000%   9/1/26        75      77
  Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, Prere. 5.000%   9/1/27       250     264
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 5.000%  11/1/25        50      51
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 5.000%  11/1/28       185     199
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 5.000%  11/1/29        65      71
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 5.000%  11/1/31       200     222
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 5.000%  11/1/32        50      55
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 5.000%  11/1/35        50      54
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 4.000%  11/1/36       380     389
  Alabama Public School & College Authority Miscellaneous Taxes Revenue 4.000%  11/1/40       100     100
  Jefferson County AL Sewer Revenue 5.000%  10/1/30        50      54
  Jefferson County AL Sewer Revenue 5.000%  10/1/31       140     153
  Jefferson County AL Sewer Revenue 5.000%  10/1/32       150     165
  Jefferson County AL Sewer Revenue 5.250%  10/1/41       200     217
  Jefferson County AL Sewer Revenue 5.250%  10/1/42       200     216
  University of Alabama College & University Revenue 3.500%   7/1/42        50      44
  Water Works Board of the City of Birmingham Water Revenue 4.000%   1/1/41        25      25
                                 2,483
Arizona (1.2%)
  Arizona Board of Regents College & University Revenue 5.000%   7/1/42        55      56
  Arizona COP, ETM 5.000%  10/1/25        55      56
  Arizona COP, ETM 5.000%  10/1/26       220     228
  Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue 5.000%   7/1/25       455     459
  Arizona IDA Charter School Aid Revenue 4.000%  11/1/27        35      35
  Arizona IDA Charter School Aid Revenue 5.000%  11/1/29        50      54
  Arizona Transportation Board Sales Tax Revenue 5.000%   7/1/25       215     217
  Gilbert Water Resource Municipal Property Corp. Water Revenue 4.000%  7/15/41        15      15
  Mesa AZ Utility System Water Revenue 4.000%   7/1/32        35      35
  Mesa AZ Utility System Water Revenue 4.000%   7/1/34        65      67
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 4.000%   7/1/28       100     100
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 5.000%   7/1/31        75      78
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 5.000%   7/1/32       250     260
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 5.000%   7/1/36       310     321
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 5.000%   7/1/40        75      80
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 5.000%   7/1/41       200     201
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 4.000%   7/1/44        45      44
  Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue 5.000%   7/1/44       295     312
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 5.000%   1/1/27       105     110
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 5.000%   1/1/28        75      78
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 5.000%   1/1/32       255     288
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 4.000%  12/1/33        85      85
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 4.000%  12/1/34       215     215
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue 5.000%  12/1/35       200     201
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/26        50      51
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/28        50      53
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/28       110     117
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/30       105     111
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/31       100     106
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/32        35      37
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/33       120     127
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) 5.000%   1/1/43        55      60
                                 4,257
California (14.0%)
  Alameda Corridor Transportation Authority Transit Revenue 5.000%  10/1/37       100     102
1 Alameda County Oakland Unified School District GO 5.000%   8/1/26       100     101
  Alameda County Oakland Unified School District GO, Prere. 5.000%   8/1/25       120     121
1 Anaheim Public Financing Authority Lease (Abatement) Revenue (Anaheim Public Improvements Project), ETM 0.000%   9/1/36       100      67
  Bay Area Toll Authority Highway Revenue 4.000%   4/1/33       160     162
  Bay Area Toll Authority Highway Revenue 4.000%   4/1/34        75      76
  Bay Area Toll Authority Highway Revenue 3.250%   4/1/36       125     120
  Bay Area Toll Authority Highway Revenue 4.000%   4/1/37       125     126
  Bay Area Toll Authority Highway Revenue PUT 2.125%   4/1/25         5       5
  Beverly Hills Unified School District CA GO 3.000%   8/1/44        80      67
  California Department of Water Resources Water Revenue 5.000%  12/1/27        45      48
  California Department of Water Resources Water Revenue 5.000%  12/1/29        70      73
  California Department of Water Resources Water Revenue 4.000%  12/1/34        90      92
  California Department of Water Resources Water Revenue, Prere. 5.000%   6/1/29        25      27
  California Educational Facilities Authority College & University Revenue 5.000%   6/1/43        80      95
  California Educational Facilities Authority College & University Revenue 5.000%   6/1/43       175     208
  California GO 5.000%   8/1/25       215     218
  California GO 5.000%   8/1/25       150     152
  California GO 5.000%   9/1/25        15      15
  California GO 5.000%   9/1/25        50      51
  California GO 5.000%  10/1/25       110     112
  California GO 5.000%  10/1/25        50      51
  California GO 5.000%  11/1/25        70      71
  California GO 5.000%   4/1/26        50      51
  California GO 3.875%   8/1/26       250     254
  California GO 5.000%   8/1/26        60      62
  California GO 5.000%   8/1/26        55      57
  California GO 5.000%   8/1/26       100     104
  California GO 5.000%   8/1/26     1,000   1,035
  California GO 4.000%   9/1/26       250     255
  California GO 5.000%   9/1/26        75      78
  California GO 5.000%   9/1/26       150     156
  California GO 5.000%   9/1/26        30      31
  California GO 5.000%   9/1/26       135     140
  California GO 5.000%  12/1/26       500     521
  California GO 3.500%   8/1/27        55      56
  California GO 5.000%   8/1/27       135     139
  California GO 5.000%   8/1/27       500     528
  California GO 5.000%   8/1/27       100     106
  California GO 4.000%   9/1/27       500     516
  California GO 5.000%   9/1/27        90      93
  California GO 5.000%   9/1/27       120     127
  California GO 5.000%  10/1/27       155     164
  California GO 5.000%  11/1/27       300     318
  California GO 5.000%   4/1/28        90      96
  California GO 5.000%   8/1/28        55      58
  California GO 5.000%   8/1/28        35      38
  California GO 5.000%   8/1/28        75      81
  California GO 5.000%   9/1/28        40      41
  California GO 5.000%   9/1/28       300     304
  California GO 5.000%   9/1/28        40      41
  California GO 5.000%   9/1/28        15      16
  California GO 5.000%  10/1/28        55      59
  California GO 5.000%  10/1/28       110     119
  California GO 5.000%  12/1/28        20      22
  California GO 3.000%   3/1/29       190     188
  California GO 3.000%   3/1/29        50      50
  California GO 5.000%   4/1/29       235     255
  California GO 5.000%   4/1/29        35      38
  California GO 3.000%   8/1/29       100      99
  California GO 5.000%   8/1/29        45      46
  California GO 3.000%   9/1/29        40      40
  California GO 5.000%   9/1/29       295     323
  California GO 5.000%  10/1/29       240     263
  California GO 5.000%  11/1/29       100     105
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  California GO 5.000%  11/1/29        20      22
  California GO 5.000%   4/1/30       155     171
  California GO 5.000%   4/1/30       155     171
  California GO 5.000%   8/1/30       200     206
  California GO 5.000%   8/1/30        60      63
  California GO 5.000%   8/1/30        35      39
  California GO 5.000%   9/1/30       130     132
  California GO 5.000%   9/1/30       210     234
  California GO 5.000%   9/1/30       195     217
  California GO 5.000%  10/1/30       230     251
  California GO 5.000%  10/1/30       130     139
  California GO 5.000%  10/1/30        60      67
  California GO 5.000%  11/1/30       150     158
  California GO 5.000%  11/1/30       100     112
  California GO 5.000%  12/1/30       150     168
  California GO 5.000%   4/1/31        60      67
  California GO 5.000%   8/1/31        70      79
  California GO 5.000%   9/1/31       135     152
  California GO 5.000%   9/1/31       100     113
  California GO 5.000%   9/1/31       300     339
  California GO 5.000%   9/1/31       200     226
  California GO 5.000%  10/1/31       100     109
  California GO 5.000%   8/1/32        35      35
  California GO 5.000%   8/1/32       110     115
  California GO 5.000%   8/1/32       300     343
1 California GO 5.250%   8/1/32       100     114
  California GO 5.000%   9/1/32        25      25
  California GO 5.000%   9/1/32       800     914
  California GO 5.000%  10/1/32       135     151
  California GO 5.000%  10/1/32       120     135
  California GO 5.000%  11/1/32        65      68
  California GO 5.000%   4/1/33        65      70
  California GO 5.000%   4/1/33        75      85
  California GO 5.000%   4/1/33        15      17
  California GO 5.000%   8/1/33        65      75
  California GO 5.000%   9/1/33        40      46
  California GO 3.000%  10/1/33       100      99
  California GO 4.000%  10/1/33       100     105
  California GO 4.000%  11/1/33        10      10
  California GO 4.000%   9/1/34       300     323
  California GO 5.000%   9/1/34       500     583
  California GO 4.000%  10/1/34       350     368
  California GO 5.000%  10/1/34       250     286
  California GO 5.000%  12/1/34        10      11
  California GO 5.000%   3/1/35        30      33
  California GO 5.000%   4/1/35       105     113
  California GO 5.000%   8/1/35       100     116
  California GO 3.000%   9/1/35        50      47
  California GO 5.000%   9/1/35        75      77
  California GO 5.000%   9/1/35       150     169
  California GO 4.000%  11/1/35        40      41
  California GO 4.000%  11/1/35       125     130
  California GO 4.000%   3/1/36       140     145
  California GO 5.000%   3/1/36        65      71
  California GO 4.000%   8/1/36        40      40
  California GO 4.000%   8/1/36       100     106
  California GO 5.000%   8/1/36        50      51
  California GO 3.000%   9/1/36        35      32
  California GO 4.000%   9/1/36        50      50
  California GO 4.000%   9/1/36        10      10
  California GO 5.000%   9/1/36        35      36
  California GO 5.000%   9/1/36        15      17
  California GO 5.000%   9/1/36       500     563
  California GO 3.000%  10/1/36        50      49
  California GO 4.000%  10/1/36       100     103
  California GO 5.000%  10/1/36       300     340
  California GO 4.000%   3/1/37       150     154
  California GO 5.000%   4/1/37        55      59
  California GO 4.000%   8/1/37        25      25
  California GO 5.000%   8/1/37        65      69
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  California GO 5.000%   8/1/37       250     288
  California GO 4.000%   9/1/37       150     151
  California GO 5.000%   9/1/37        15      17
  California GO 3.000%  10/1/37       440     415
  California GO 4.000%  10/1/37       200     206
  California GO 4.000%  11/1/37       230     237
  California GO 5.000%   8/1/38        15      15
  California GO 5.000%   8/1/39       140     160
  California GO 4.000%  10/1/39       205     209
  California GO 5.000%  11/1/39        40      42
  California GO 4.000%   3/1/40       200     203
  California GO 4.000%  11/1/40        30      31
  California GO 5.000%   9/1/41        15      16
  California GO 4.000%  10/1/41        30      30
  California GO 5.000%  10/1/41        80      87
  California GO 4.000%   4/1/42       180     182
  California GO 5.000%   4/1/42       100     104
  California GO 5.000%  10/1/42        20      21
  California GO 5.000%  10/1/42       175     194
  California GO 5.000%  11/1/42       220     243
  California GO 4.000%   2/1/43        50      50
  California GO 4.000%   9/1/43       250     253
  California GO 5.000%   9/1/43       200     222
  California GO 2.375%  12/1/43        50      37
  California GO 4.000%   8/1/44       400     402
  California GO 5.250%   8/1/44        85      96
  California Infrastructure & Economic Development Bank Recreational Revenue 3.250%   8/1/29        10      10
  California Municipal Finance Authority Intergovernmental Agreement Revenue (Orange County Civic Center Infrastructure Improvement Program - Phase II) 5.000%   6/1/43        50      52
  California State Public Works Board Lease (Abatement) Revenue 5.000%   8/1/26       170     176
  California State Public Works Board Lease (Abatement) Revenue 5.000%  10/1/26        70      73
  California State Public Works Board Lease (Abatement) Revenue 5.000%  10/1/28        15      16
  California State Public Works Board Lease (Abatement) Revenue 5.000%   2/1/29         5       5
  California State Public Works Board Lease (Abatement) Revenue 5.000%   8/1/31        50      56
  California State Public Works Board Lease (Abatement) Revenue 5.000%   4/1/41        10      11
  California State Public Works Board Lease (Abatement) Revenue 5.000%   4/1/42        25      28
  California State Public Works Board Lease (Abatement) Revenue 5.000%   4/1/43        30      33
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/26       250     259
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/27       115     121
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/31        55      62
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/32       140     159
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/34       200     232
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/34        55      57
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/36       200     230
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/38        30      34
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   9/1/38        50      57
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 3.000%  11/1/39       300     276
  California State University College & University Revenue 5.000%  11/1/25        45      46
  California State University College & University Revenue 5.000%  11/1/26        50      51
  California State University College & University Revenue 5.000%  11/1/26       170     175
  California State University College & University Revenue 5.000%  11/1/27        10      11
  California State University College & University Revenue 5.000%  11/1/27        10      10
  California State University College & University Revenue 5.000%  11/1/28        20      21
  California State University College & University Revenue 5.000%  11/1/29        65      67
  California State University College & University Revenue 5.000%  11/1/31        65      66
  California State University College & University Revenue 5.000%  11/1/31        30      31
  California State University College & University Revenue 5.000%  11/1/32       125     127
  California State University College & University Revenue 5.000%  11/1/32        10      10
  California State University College & University Revenue 5.000%  11/1/41       100     102
  California State University College & University Revenue 5.000%  11/1/42       100     103
  California State University College & University Revenue 4.000%  11/1/43        30      29
  Chabot-Las Positas Community College District GO 4.000%   8/1/33        75      76
  Coast Community College District GO 0.000%   8/1/43       200      91
  Coast Community College District GO, Prere. 4.000%  8/15/25        85      86
  East Bay Municipal Utility District Water System Water Revenue 4.000%   6/1/33        95      95
  East Bay Municipal Utility District Water System Water Revenue 5.000%   6/1/34        40      42
  East Bay Municipal Utility District Water System Water Revenue 5.000%   6/1/35        25      25
  East Bay Municipal Utility District Water System Water Revenue 5.000%   6/1/37        85      85
  El Camino Community College District Foundation GO 0.000%   8/1/38       500     295
  Foothill-De Anza Community College District GO 4.000%   8/1/40       145     145
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Foothill-Eastern Transportation Corridor Agency Highway Revenue 6.850%  1/15/42       100     117
  Fremont Union High School District GO 4.000%   8/1/40        35      35
2 Hayward Unified School District GO 4.000%   8/1/43        95      94
  Los Angeles CA Community College District GO 5.000%   8/1/25        15      15
  Los Angeles CA Community College District GO 5.000%   8/1/25        10      10
  Los Angeles CA Community College District GO 5.000%   8/1/27        50      53
  Los Angeles CA Community College District GO 5.000%   8/1/32       195     225
  Los Angeles CA Community College District GO 4.000%   8/1/37        25      25
  Los Angeles CA Community College District GO 3.000%   8/1/39       100      92
  Los Angeles CA Unified School District COP 5.000%  10/1/33        15      17
  Los Angeles CA Unified School District COP 5.000%  10/1/34       300     342
  Los Angeles CA Unified School District GO 5.000%   7/1/26       100     103
  Los Angeles CA Unified School District GO 5.000%   7/1/28       410     436
  Los Angeles CA Unified School District GO 5.000%   7/1/29       100     109
  Los Angeles CA Unified School District GO 5.000%   7/1/29       100     109
  Los Angeles CA Unified School District GO 5.000%   7/1/30       100     103
  Los Angeles CA Unified School District GO 5.000%   7/1/30       145     161
  Los Angeles CA Unified School District GO 5.000%   7/1/30       150     166
  Los Angeles CA Unified School District GO 3.000%   7/1/31       295     292
  Los Angeles CA Unified School District GO 4.000%   7/1/31        25      26
  Los Angeles CA Unified School District GO 5.000%   7/1/32       100     114
  Los Angeles CA Unified School District GO 4.000%   7/1/33        10      10
  Los Angeles CA Unified School District GO 5.000%   7/1/34       320     373
  Los Angeles CA Unified School District GO 4.000%   7/1/35       150     150
  Los Angeles CA Unified School District GO 5.000%   7/1/36       100     116
  Los Angeles CA Unified School District GO 4.000%   7/1/38       205     210
  Los Angeles CA Unified School District GO 4.000%   7/1/38        30      31
  Los Angeles CA Unified School District GO 5.000%   7/1/38        15      16
  Los Angeles CA Unified School District GO 5.000%   7/1/39       250     286
  Los Angeles CA Unified School District GO 4.000%   7/1/40       140     142
  Los Angeles CA Unified School District GO 5.000%   7/1/40       155     156
  Los Angeles CA Unified School District GO 5.000%   7/1/40       225     255
  Los Angeles CA Unified School District GO 5.000%   7/1/41       100     113
  Los Angeles CA Unified School District GO 5.000%   7/1/42       175     196
  Los Angeles CA Unified School District GO 5.250%   7/1/42       300     313
  Los Angeles CA Unified School District GO 4.000%   7/1/44        70      70
  Los Angeles CA Unified School District GO 5.000%   7/1/44       100     110
  Los Angeles CA Wastewater System Sewer Revenue 5.000%   6/1/26       125     129
  Los Angeles County Metropolitan Transportation Authority Sales Tax Intergovernmental Agreement Revenue 5.000%   6/1/34        10      12
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/26        40      41
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/28        40      43
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/30        55      61
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/31        15      17
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/32        10      10
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/32        10      11
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/33        15      15
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/34        60      66
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/34        50      52
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   7/1/34         5       5
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/35       175     192
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/36       200     205
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   7/1/38        40      42
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   7/1/39       200     211
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   7/1/41        95      98
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   7/1/44       495     517
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 4.000%  12/1/40        45      45
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/30        30      33
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/35        10      11
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/37        35      38
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/38       255     276
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/39       115     124
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/40       110     118
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/25        40      40
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/25        10      10
  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        15      15
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/27        25      26
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        10      11
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        15      16
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/28        25      26
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        10      11
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29         5       5
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        30      32
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/29        25      27
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        35      38
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/30        20      22
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        15      16
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31        35      38
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/31       170     185
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32        60      63
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/32         5       5
  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        15      17
  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%   7/1/34        20      21
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/34        20      20
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/34        30      34
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/36        15      15
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/36        20      21
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/36       205     226
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/36       100     111
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/38        60      66
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/39        20      21
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/39        10      11
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/40        85      90
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/41        50      53
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/41       195     207
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/41       100     108
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/42        50      50
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/42        50      53
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/42        65      69
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/43        15      16
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/43        15      16
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/44       200     211
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/25        15      15
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/26        10      10
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/29        15      15
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/30        15      15
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/33        25      28
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/34        15      17
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/35       110     114
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/37        60      64
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/38        40      44
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/40        65      69
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/40        15      16
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/41        70      70
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/41        85      89
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/42        25      26
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/42        35      37
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/43        60      61
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/44       250     252
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%  11/1/30        15      16
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%  11/1/32        20      21
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 4.000%  11/1/33        15      15
  Metropolitan Water District of Southern California Water Revenue 2.500%   7/1/25       110     110
  Metropolitan Water District of Southern California Water Revenue 2.500%   7/1/26       200     199
  Metropolitan Water District of Southern California Water Revenue 3.000%   7/1/28       250     253
  Metropolitan Water District of Southern California Water Revenue 5.000%   7/1/39        90      99
  Mount San Antonio Community College District GO 5.000%   8/1/44        30      32
3 Mount San Antonio Community College District GO, 6.250% coupon rate effective 8/1/28 0.000%   8/1/43        75      74
  Northern California Sanitation Agencies Financing Authority Intergovernmental Agreement Revenue 3.000%  12/1/34        15      15
4 Norwalk-La Mirada Unified School District GO 0.000%   8/1/38       200     114
  Orange County Water District Water Revenue 4.000%  8/15/41        60      60
  Palo Alto Unified School District GO 3.250%   8/1/42        25      23
  Peralta Community College District GO 4.000%   8/1/39       415     415
  Poway Unified School District GO 0.000%   8/1/34       220     158
  Poway Unified School District GO 0.000%   8/1/40       390     213
  Rio Hondo CA Community College District GO 6.625%   8/1/42       100     125
  Rio Hondo CA Community College District GO 6.850%   8/1/42        50      64
  Riverside Unified School District GO 4.000%   8/1/42       250     250
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Sacramento County CA Airport System Port, Airport & Marina Revenue 5.000%   7/1/41       175     178
  Sacramento Municipal Utility District Electric Power & Light Revenue 5.000%  8/15/38        65      70
  San Diego CA Unified School District GO 4.000%   7/1/29        70      71
  San Diego CA Unified School District GO 0.000%   7/1/30       115      97
5 San Diego CA Unified School District GO 5.000%   7/1/34       150     176
  San Diego CA Unified School District GO 0.000%   7/1/41       100      52
  San Diego CA Unified School District GO 3.125%   7/1/42        15      13
  San Diego CA Unified School District GO 4.000%   7/1/44        80      80
3 San Diego CA Unified School District GO, 6.625% coupon rate effective 7/1/30 0.000%   7/1/40       150     151
  San Diego County Regional Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/42        20      21
  San Diego County Water Authority Water Revenue 4.000%   5/1/33       105     112
  San Diego Public Facilities Financing Authority Lease (Abatement) Revenue (Capital Improvement Projects) 5.000% 10/15/44       250     252
  San Diego Public Facilities Financing Authority Sewer Revenue 4.000%  5/15/26        20      20
  San Diego Public Facilities Financing Authority Sewer Revenue 5.000%  5/15/29        35      36
  San Diego Public Facilities Financing Authority Water Revenue 5.000%   8/1/25       185     187
  San Diego Public Facilities Financing Authority Water Revenue 5.000%   8/1/28        50      52
  San Francisco Bay Area Rapid Transit District GO 4.000%   8/1/34       500     501
  San Francisco Bay Area Rapid Transit District GO 4.000%   8/1/37        50      50
  San Francisco Bay Area Rapid Transit District GO 4.000%   8/1/42        50      50
  San Francisco Bay Area Rapid Transit District GO 4.000%   8/1/44       150     148
  San Francisco CA Public Utilities Commission Water Revenue 5.000%  11/1/25       140     141
  San Francisco CA Public Utilities Commission Water Revenue 5.000%  11/1/27        80      83
  San Francisco CA Public Utilities Commission Water Revenue 5.000%  11/1/28       285     296
  San Francisco CA Public Utilities Commission Water Revenue 5.000%  11/1/32        30      31
5 San Francisco City & County Airport Comm-San Francisco International Airport Port, Airport & Marina Revenue 5.000%   5/1/37       100     117
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/44        40      43
6 San Joaquin Hills Transportation Corridor Agency Highway Revenue 0.000%  1/15/36        60      39
  San Jose Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue 5.000%   8/1/34       150     157
  San Juan Unified School District GO 3.000%   8/1/26        85      85
6 San Mateo County Community College District GO 0.000%   9/1/32        50      39
  San Mateo Joint Powers Financing Authority Lease (Abatement) Revenue (Capital Projects) 5.000%  7/15/43        35      37
  Santa Clara County CA GO 3.375%   8/1/37        25      23
  Santa Clara County CA GO 3.500%   8/1/38        15      14
  Santa Clara County CA GO 3.250%   8/1/39        60      57
  Santa Clara Unified School District GO 3.250%   7/1/44       105      90
  Southern California Public Power Authority Electric Power & Light Revenue (Windy Point/Windy Flats Project) 5.000%   7/1/29         5       5
  Southern California Public Power Authority Electric Power & Light Revenue (Windy Point/Windy Flats Project) 5.000%   7/1/30        15      16
  Southwestern Community College District GO, Prere. 5.000%   8/1/25        40      40
  Turlock Irrigation District Electric Power & Light Revenue 5.000%   1/1/41       530     545
1 Twin Rivers Unified School District GO 0.000%   8/1/41       250     119
  University of California College & University Revenue 5.000%  5/15/25        35      35
  University of California College & University Revenue 5.000%  5/15/26        70      72
  University of California College & University Revenue 5.000%  5/15/27        75      79
  University of California College & University Revenue 5.000%  5/15/28       160     161
  University of California College & University Revenue 5.000%  5/15/28        80      84
5 University of California College & University Revenue 5.000%  5/15/28       250     269
  University of California College & University Revenue 5.000%  5/15/29        20      21
  University of California College & University Revenue 5.000%  5/15/29        55      60
5 University of California College & University Revenue 5.000%  5/15/29       250     274
  University of California College & University Revenue 5.000%  5/15/31       150     170
  University of California College & University Revenue 5.000%  5/15/32        65      68
  University of California College & University Revenue 5.000%  5/15/32       200     229
5 University of California College & University Revenue 5.000%  5/15/32       250     287
  University of California College & University Revenue 5.000%  5/15/33       400     464
  University of California College & University Revenue 5.000%  5/15/34       100     115
5 University of California College & University Revenue 5.000%  5/15/34       250     292
  University of California College & University Revenue 5.000%  5/15/35       150     174
  University of California College & University Revenue 5.000%  5/15/35       150     174
5 University of California College & University Revenue 5.000%  5/15/35       400     469
  University of California College & University Revenue 5.000%  5/15/37        25      26
  University of California College & University Revenue 5.000%  5/15/37        35      39
  University of California College & University Revenue 5.000%  5/15/37       100     115
5 University of California College & University Revenue 5.000%  5/15/37       400     466
  University of California College & University Revenue 5.000%  5/15/38        25      29
5 University of California College & University Revenue 5.000%  5/15/39       250     288
5 University of California College & University Revenue 5.000%  5/15/40       250     286
  University of California College & University Revenue 5.000%  5/15/41        25      28
  University of California College & University Revenue 5.000%  5/15/42         5       6
  University of California College & University Revenue 5.250%  5/15/42       350     362
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  University of California College & University Revenue 5.000%  5/15/43        30      32
  University of California College & University Revenue 5.000%  5/15/43       130     143
  University of California College & University Revenue 5.000%  5/15/43       415     461
  University of California College & University Revenue (Limited Project) 5.000%  5/15/27       395     397
  University of California College & University Revenue (Limited Project) 5.000%  5/15/42       470     484
  Ventura County Community College District GO 3.125%   8/1/31        60      60
  William S Hart Union High School District GO 3.500%   8/1/38        70      68
                                50,666
Colorado (1.1%)
  Adams & Arapahoe Joint School District 28J Aurora GO 5.000%  12/1/30       505     524
  Adams & Arapahoe Joint School District 28J Aurora GO 5.000%  12/1/31        90      93
  Adams & Weld Counties CO School District No. 27J Brighton GO 5.000%  12/1/40       100     101
  Boulder Valley School District No. Re-2 Boulder GO 5.000%  12/1/41       100     101
  Colorado COP 5.000% 12/15/30        55      59
  Colorado COP 5.000% 12/15/31       155     171
  Colorado COP 5.000% 12/15/31        70      79
  Colorado COP 4.000% 12/15/35       105     108
  Colorado COP 3.000% 12/15/36        30      27
  Colorado COP 4.000% 12/15/36        60      61
  Colorado COP 4.000% 12/15/37        25      25
  Colorado COP 4.000% 12/15/37        40      41
  Colorado COP 4.000% 12/15/38       135     136
  Colorado COP 6.000% 12/15/38        25      29
  Colorado COP 6.000% 12/15/39       250     293
  Colorado COP 6.000% 12/15/40        25      29
  Colorado COP 4.000%  3/15/44       145     141
  Colorado Springs CO Utilities System Water Revenue 5.000% 11/15/25       155     158
  Denver City & County School District No. 1 GO 5.000%  12/1/25       115     117
  Denver City & County School District No. 1 GO 4.000%  12/1/26        90      91
  Denver City & County School District No. 1 GO 5.000%  12/1/37        50      51
  Denver City & County School District No. 1 GO 3.000%  12/1/43       150     123
  Denver CO City & County Airport System Port, Airport & Marina Revenue 5.000% 11/15/32       100     103
  Denver CO City & County Airport System Port, Airport & Marina Revenue 4.000% 11/15/43        40      40
  Denver CO City & County GO 5.000%   8/1/28        75      81
  Denver CO City & County GO 5.000%   8/1/29       135     148
  Denver CO City & County Pledged Excise Sales Tax Revenue 5.000%   8/1/44       190     193
  Denver CO City & County Pledged Excise Tax Hotel Occupancy Tax Revenue 5.000%   8/1/41        50      51
  Douglas County School District No. Re-1 Douglas & Elbert Counties GO 5.000% 12/15/28       100     108
6 E-470 Public Highway Authority Miscellaneous Revenue 0.000%   9/1/28        50      44
  Regional Transportation District Sales Tax Revenue (Fastracks Project) 5.000%  11/1/28        95     102
  Regional Transportation District Sales Tax Revenue (Fastracks Project) 5.000%  11/1/29       180     197
  Regional Transportation District Sales Tax Revenue (Fastracks Project) 5.000%  11/1/29        80      88
  University of Colorado College & University Revenue, Prere. 4.000%   6/1/28        60      62
  University of Colorado College & University Revenue, Prere. 4.000%   6/1/28        30      31
  Weld County School District No. RE-2 Eaton GO 5.000%  12/1/44       100     104
                                 3,910
Connecticut (2.4%)
  Connecticut GO 5.000%  5/15/25       110     111
  Connecticut GO 5.000%  9/15/25       275     279
  Connecticut GO 5.000% 11/15/25       150     153
  Connecticut GO 4.000%  1/15/26        75      76
  Connecticut GO 5.000%  1/15/26        70      72
  Connecticut GO 5.000%  4/15/26       265     272
  Connecticut GO 5.000% 11/15/26       135     137
  Connecticut GO 5.000%  1/15/27        80      83
  Connecticut GO 5.000%  4/15/27       120     126
  Connecticut GO 5.000%  6/15/27       100     105
  Connecticut GO 5.000% 11/15/27       200     212
  Connecticut GO 4.000%  1/15/28        45      46
  Connecticut GO 4.000%  1/15/29       100     104
  Connecticut GO 4.000%  1/15/29       115     120
  Connecticut GO 5.000%  1/15/29       100     108
  Connecticut GO 5.000% 11/15/29       200     219
  Connecticut GO 4.000%  1/15/30        95     100
  Connecticut GO 4.000%  1/15/30       275     288
  Connecticut GO 5.000% 11/15/30        60      67
  Connecticut GO 4.000%  1/15/31        50      53
  Connecticut GO 4.000%  1/15/31       115     121
  Connecticut GO 5.000%  9/15/31       190     213
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Connecticut GO 4.000%  1/15/32        35      37
  Connecticut GO 5.000%  4/15/32       575     618
  Connecticut GO 5.000%  6/15/32        50      50
  Connecticut GO 5.000% 11/15/32        25      28
  Connecticut GO 4.000%  1/15/33       100     106
  Connecticut GO 4.000%  1/15/33        25      26
  Connecticut GO 5.000%  4/15/33        40      43
  Connecticut GO 5.000% 11/15/34       200     231
  Connecticut GO 4.000%  3/15/35        30      30
  Connecticut GO 5.000%  6/15/35        70      70
  Connecticut GO 4.000%  1/15/36        40      41
  Connecticut GO 3.000%  1/15/37       130     119
  Connecticut GO 4.000%  4/15/37        65      65
  Connecticut GO 5.000%  1/15/38       400     452
  Connecticut GO 4.000%  1/15/41        75      76
  Connecticut GO 4.000%  1/15/42       100     100
  Connecticut GO 3.000% 11/15/42       140     121
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   8/1/25        65      66
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   9/1/25       135     137
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/26        75      77
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/27       100     105
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/27       250     263
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%  10/1/27        65      69
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   1/1/28       110     117
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/28       145     155
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   5/1/29        45      49
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%  10/1/29        75      80
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   5/1/30        85      94
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   5/1/30        75      83
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/30        15      17
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/30       300     332
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/31        25      28
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/31       100     112
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/31        50      56
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   5/1/32        45      49
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/32       200     227
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   5/1/33       110     122
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   5/1/34        60      65
  Connecticut Special Tax Fuel Sales Tax Revenue 4.000%   8/1/35       170     170
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   8/1/35       100     101
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%  10/1/38        75      78
  Connecticut Special Tax Fuel Sales Tax Revenue 4.000%   5/1/39       125     127
  Connecticut Special Tax Fuel Sales Tax Revenue 5.000%   7/1/40       250     281
  Connecticut Special Tax Fuel Sales Tax Revenue 5.250%   7/1/43       135     150
5 Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/33        95     110
  Connecticut State Health & Educational Facilities Authority College & University Revenue 5.000%   7/1/35        50      59
  Connecticut State Health & Educational Facilities Authority College & University Revenue 4.125%   7/1/41        45      45
4 New Haven CT GO 5.000%   8/1/32        10      11
                                 8,713
Delaware (0.2%)
  Delaware GO 5.000%   1/1/27       110     115
  Delaware GO 5.000%   1/1/28       210     223
  Delaware GO 5.000%   3/1/29       130     141
  Delaware GO 5.000%   3/1/32       100     114
  Delaware Transportation Authority Fuel Sales Tax Revenue 5.000%   7/1/30        50      56
                                   649
District of Columbia (2.1%)
  District of Columbia Appropriations Revenue 5.000%  12/1/34       100     107
  District of Columbia College & University Revenue 5.000%   4/1/33        50      51
  District of Columbia GO 5.000%   6/1/26       175     180
  District of Columbia GO 5.000% 10/15/29       165     179
  District of Columbia GO 5.000%   6/1/30        25      28
  District of Columbia GO 5.000%   8/1/30       200     222
  District of Columbia GO 5.000% 10/15/30        70      76
  District of Columbia GO 5.000% 10/15/31        45      49
  District of Columbia GO 5.000%   6/1/33        45      47
  District of Columbia GO 5.000%   8/1/33        55      63
  District of Columbia GO 5.000%   6/1/34       230     239
  District of Columbia GO 5.000%   8/1/34       200     232
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  District of Columbia GO 5.000% 10/15/34       140     150
  District of Columbia GO 5.000%   2/1/35       160     176
  District of Columbia GO 5.000%   6/1/36        90      93
  District of Columbia GO 4.000%   6/1/37        10      10
  District of Columbia GO 5.000%   8/1/37        50      57
  District of Columbia GO 5.000%   1/1/38       200     224
  District of Columbia GO 5.000%   8/1/38        50      57
  District of Columbia GO 5.000% 10/15/38        20      21
  District of Columbia GO 5.000%   8/1/39        50      57
  District of Columbia GO 5.000%   1/1/40       150     166
  District of Columbia GO 4.000%   6/1/41        45      44
  District of Columbia GO 5.000%   1/1/43        50      54
  District of Columbia GO 5.000% 10/15/44       315     328
  District of Columbia Income Tax Revenue 5.000%  10/1/26       115     119
  District of Columbia Income Tax Revenue 5.000%  12/1/28       145     157
  District of Columbia Income Tax Revenue 5.000%   3/1/29       200     217
  District of Columbia Income Tax Revenue 5.000%  10/1/29       125     137
  District of Columbia Income Tax Revenue 5.000%  12/1/29       100     110
  District of Columbia Income Tax Revenue 5.000%  10/1/31        55      62
  District of Columbia Income Tax Revenue 5.000%  10/1/31       130     147
  District of Columbia Income Tax Revenue 5.000%   3/1/32        75      81
  District of Columbia Income Tax Revenue 5.000%   7/1/32        55      63
  District of Columbia Income Tax Revenue 5.000%   3/1/33       100     108
  District of Columbia Income Tax Revenue 5.000%  12/1/33        45      51
  District of Columbia Income Tax Revenue 5.000%   3/1/35       165     178
  District of Columbia Income Tax Revenue 5.000%   3/1/36       500     537
  District of Columbia Income Tax Revenue 4.000%   3/1/37       165     168
  District of Columbia Income Tax Revenue 5.000%   3/1/37        50      54
  District of Columbia Income Tax Revenue 5.000%  10/1/37        20      23
  District of Columbia Income Tax Revenue 5.000%  12/1/37        85      95
  District of Columbia Income Tax Revenue 5.000%   7/1/39       140     154
  District of Columbia Income Tax Revenue 4.000%   3/1/40        75      74
  District of Columbia Income Tax Revenue 5.000%   5/1/40       105     116
  District of Columbia Income Tax Revenue 5.000%   7/1/42        25      27
  District of Columbia Water & Sewer Authority Water Revenue 5.000%  10/1/34        60      70
  District of Columbia Water & Sewer Authority Water Revenue 5.000%  10/1/35       200     231
  District of Columbia Water & Sewer Authority Water Revenue 5.000%  10/1/39       100     113
  District of Columbia Water & Sewer Authority Water Revenue 5.000%  10/1/43        55      57
  Metropolitan Washington Airports Authority Dulles Toll Road Highway Revenue 4.000%  10/1/44        55      52
  Washington Convention & Sports Authority Miscellaneous Taxes Revenue 5.000%  10/1/27       250     263
  Washington Convention & Sports Authority Miscellaneous Taxes Revenue 5.000%  10/1/28        45      47
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 5.000%  7/15/31        80      90
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 5.000%  7/15/33        50      55
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 4.000%  7/15/34        60      63
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 4.000%  7/15/39       400     406
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 5.000%  7/15/39       100     106
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 3.000%  7/15/43       155     126
  Washington Metropolitan Area Transit Authority Dedicated Appropriations Revenue 4.000%  7/15/43        95      93
  Washington Metropolitan Area Transit Authority Transit Revenue 5.000%   7/1/36        20      21
  Washington Metropolitan Area Transit Authority Transit Revenue 5.000%   7/1/37       290     299
                                 7,680
Florida (3.4%)
  Broward County FL Airport System Port, Airport & Marina Revenue 4.000%  10/1/42        65      64
  Broward County FL School District COP 5.000%   7/1/26        55      55
  Broward County FL School District COP 5.000%   7/1/30        50      55
  Broward County FL School District COP 5.000%   7/1/31        65      71
  Broward County FL School District COP 5.000%   7/1/33       355     386
  Broward County FL School District COP 5.000%   7/1/34        50      54
  Broward County FL School District COP 5.000%   7/1/35        95     106
  Broward County FL Water & Sewer Utility Water Revenue 4.000%  10/1/42       185     183
  Central Florida Expressway Authority Highway Revenue 5.000%   7/1/27       175     180
1 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/27        65      68
  Central Florida Expressway Authority Highway Revenue 4.000%   7/1/30       190     192
1 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/31        75      84
1 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/34        85      93
4 Central Florida Expressway Authority Highway Revenue 5.000%   7/1/34       100     115
  Central Florida Expressway Authority Highway Revenue 4.000%   7/1/37       150     150
1 Central Florida Expressway Authority Highway Revenue 4.000%   7/1/37       100     102
  Central Florida Expressway Authority Highway Revenue 4.000%   7/1/38        70      70
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
1 Central Florida Expressway Authority Highway Revenue 4.000%   7/1/38        35      35
  Central Florida Expressway Authority Highway Revenue 5.000%   7/1/38        80      82
  Central Florida Expressway Authority Highway Revenue 4.000%   7/1/39        85      85
1 Central Florida Expressway Authority Highway Revenue 4.000%   7/1/39       165     167
  Central Florida Expressway Authority Highway Revenue 4.000%   7/1/40        55      55
  Central Florida Expressway Authority Highway Revenue 5.000%   7/1/44       250     258
  Central Florida Expressway Authority Highway Revenue, Prere. 4.000%   7/1/26        50      51
  Central Florida Expressway Authority Highway Revenue, Prere. 4.000%   7/1/26       400     407
1 Duval County Public Schools COP 5.000%   7/1/28       185     197
1 Duval County Public Schools COP 5.000%   7/1/32       175     190
1 Duval County Public Schools COP 5.000%   7/1/33       125     135
1 Duval County Public Schools COP 5.000%   7/1/34        50      54
  Florida Department of Management Services COP 5.000%  11/1/27       100     106
  Florida Department of Management Services COP 5.000%  11/1/28       200     214
  Florida GO 5.000%   7/1/25       121     122
  Florida GO 5.000%   6/1/27        50      53
  Florida GO 5.000%   6/1/28        50      54
  Florida GO 5.000%   6/1/32        55      63
  Florida GO 5.000%   6/1/33       235     271
  Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue 5.000%   9/1/25       495     496
  Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue 5.000%   9/1/26       245     250
  Florida Lottery Revenue 5.000%   7/1/28       325     349
  Florida Municipal Power Agency Electric Power & Light Revenue 5.000%  10/1/29        35      36
  Fort Myers FL Utility System Water Revenue 4.000%  10/1/44        50      48
  Hillsborough County Aviation Authority Port, Airport & Marina Revenue 5.000%  10/1/43       300     310
4 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/29        85      93
4 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/30       100     111
4 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/31        80      90
  JEA Electric System Electric Power & Light Revenue 5.000%  10/1/32       105     110
  JEA Electric System Electric Power & Light Revenue 5.000%  10/1/36        10      11
4 JEA Electric System Electric Power & Light Revenue 5.000%  10/1/37        95     108
  Miami Beach FL Miscellaneous Taxes Revenue 5.000%   9/1/40       500     503
  Miami-Dade County Educational Facilities Authority College & University Revenue 5.000%   4/1/40       150     151
  Miami-Dade County Educational Facilities Authority College & University Revenue 5.000%   4/1/40       145     160
  Miami-Dade County Educational Facilities Authority College & University Revenue 5.000%   4/1/42       100     109
  Miami-Dade County Educational Facilities Authority College & University Revenue 5.250%   4/1/44       100     110
  Miami-Dade County FL Aviation Port, Airport & Marina Revenue 5.000%  10/1/26       175     177
  Miami-Dade County FL Aviation Port, Airport & Marina Revenue 5.000%  10/1/37        10      11
  Miami-Dade County FL Special Obligation Revenue 5.000%  10/1/34       100     103
  Miami-Dade County FL Special Obligation Revenue 4.000%  10/1/40       140     138
  Miami-Dade County FL Transit System Sales Tax Revenue 4.000%   7/1/38        60      60
  Miami-Dade County FL Transit System Sales Tax Revenue 5.000%   7/1/43       255     264
  Miami-Dade County FL Transit System Sales Tax Revenue 4.000%   7/1/44        30      29
  Miami-Dade County FL Water & Sewer System Water Revenue 5.000%  10/1/26       150     152
  Miami-Dade County FL Water & Sewer System Water Revenue 5.000%  10/1/27       130     137
  Miami-Dade County FL Water & Sewer System Water Revenue 4.000%  10/1/36        25      25
  Miami-Dade County FL Water & Sewer System Water Revenue 4.000%  10/1/37       100     101
  Miami-Dade County FL Water & Sewer System Water Revenue 4.000%  10/1/38        10      10
  Miami-Dade County FL Water & Sewer System Water Revenue 3.125%  10/1/39        95      86
  Miami-Dade County FL Water & Sewer System Water Revenue 4.000%  10/1/39        35      35
  Miami-Dade County FL Water & Sewer System Water Revenue 3.000%  10/1/40       160     140
  Miami-Dade County FL Water & Sewer System Water Revenue 4.000%  10/1/44       280     275
  Miami-Dade County FL Water & Sewer System Water Revenue 4.000%  10/1/44        25      25
  Miami-Dade County School Board COP 5.000%   2/1/29        70      71
  Miami-Dade County School Board COP 5.000%   2/1/30        25      25
5 Miami-Dade County School Board COP 5.000%   5/1/30       105     116
  Miami-Dade County School Board COP 5.000%   2/1/31        10      10
5 Miami-Dade County School Board COP 5.000%   5/1/31       200     223
  Miami-Dade County School Board COP 5.000%   5/1/32        50      50
5 Miami-Dade County School Board COP 5.000%   5/1/32        45      51
  Mid-Bay Bridge Authority Highway Revenue 5.000%  10/1/40       125     126
  Orange County School Board COP 5.000%   8/1/32        25      28
  Orange County School Board COP 5.000%   8/1/33       445     500
  Orange County School Board COP, Prere. 5.000%   8/1/26       385     397
  Orlando Utilities Commission Electric Power & Light Revenue 5.000%  10/1/39       220     247
  Orlando Utilities Commission Water Revenue 5.000%  10/1/25       140     142
  Palm Beach County School District COP 5.000%   8/1/27       160     168
  Palm Beach County School District COP 5.000%   8/1/28        80      86
  Palm Beach County School District COP 5.000%   8/1/31       105     106
  Palm Beach County School District COP 5.000%   8/1/34        95     103
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Pasco County FL Water & Sewer Water Revenue 4.000%  10/1/44        90      87
  Tallahassee FL Utility System Water Revenue 5.000%  10/1/39       200     224
6 Tampa Bay Water Revenue, ETM 6.000%  10/1/29       120     134
                                12,334
Georgia (2.0%)
  Atlanta GA Airport Passenger Facility Charge Port, Airport & Marina Revenue 5.000%   7/1/37        10      11
2 Atlanta GA Water & Wastewater Water Revenue 5.000%  11/1/31       200     225
2 Atlanta GA Water & Wastewater Water Revenue 5.000%  11/1/33       200     229
2 Atlanta GA Water & Wastewater Water Revenue 5.000%  11/1/41        15      17
  Atlanta GA Water & Wastewater Water Revenue 3.500%  11/1/43        50      45
  Atlanta GA Water & Wastewater Water Revenue, Prere. 5.000%   5/1/25        15      15
  Atlanta GA Water & Wastewater Water Revenue, Prere. 5.000%   5/1/25     2,030   2,041
1 DeKalb County GA Water & Sewerage Water Revenue 5.250%  10/1/32        50      52
1 DeKalb County GA Water & Sewerage Water Revenue 5.000%  10/1/35        55      56
  Georgia GO 5.000%   7/1/25       175     177
  Georgia GO 5.000%   2/1/26        70      72
  Georgia GO 4.000%   1/1/27       205     210
  Georgia GO 5.000%   7/1/27        95     100
  Georgia GO 5.000%  12/1/27       200     208
  Georgia GO 4.000%   1/1/28        65      67
  Georgia GO 5.000%   1/1/28        70      73
  Georgia GO 4.000%   7/1/28       130     135
  Georgia GO 5.000%   7/1/28        35      38
  Georgia GO 5.000%   7/1/28       270     290
  Georgia GO 5.000%   7/1/28       135     142
  Georgia GO 4.000%   1/1/29        65      66
  Georgia GO 5.000%   2/1/29        55      57
  Georgia GO 4.000%   7/1/29        15      16
  Georgia GO 5.000%   7/1/29       200     210
  Georgia GO 5.000%   7/1/29        70      75
  Georgia GO 5.000%   7/1/32        50      57
  Georgia GO 2.500%   2/1/33       100      92
  Georgia GO 5.000%   7/1/33        15      17
  Georgia GO 4.000%   7/1/35        90      95
  Georgia GO 4.000%   8/1/35       175     183
  Georgia GO 3.250%   7/1/37        30      29
  Georgia GO 4.000%   7/1/40       200     207
  Georgia GO 4.000%   7/1/42        15      15
1 Georgia Municipal Electric Authority Nuclear Revenue (Plant Vogtle Units 3&4 Project) 4.000%   1/1/44        55      53
  Georgia Municipal Electric Authority Nuclear Revenue (Project One Subordinated) 5.000%   1/1/36       165     185
  Georgia Ports Authority Port, Airport & Marina Revenue 4.000%   7/1/40        50      50
  Georgia State Road & Tollway Authority Government Fund/Grant Revenue 5.000%   6/1/27        55      58
  Georgia State Road & Tollway Authority Government Fund/Grant Revenue 5.000%   6/1/29       180     196
  Georgia State Road & Tollway Authority Government Fund/Grant Revenue 5.000%   6/1/31        25      27
  Georgia State Road & Tollway Authority Government Fund/Grant Revenue 5.000%   6/1/32        60      66
  Gwinnett County School District GO 5.000%   8/1/25        70      71
  Private Colleges & Universities Authority College & University Revenue 5.000%   9/1/29       290     316
  Private Colleges & Universities Authority College & University Revenue 5.000%   9/1/30       100     111
  Private Colleges & Universities Authority College & University Revenue 5.000%  10/1/38       100     102
  Private Colleges & Universities Authority College & University Revenue 4.000%   9/1/41       530     534
                                 7,091
Hawaii (0.8%)
  Hawaii GO 5.000%   8/1/26        15      15
  Hawaii GO 5.000%  10/1/26       110     114
  Hawaii GO 5.000%   1/1/27        75      78
  Hawaii GO 5.000%   5/1/27       115     121
  Hawaii GO 5.000%  10/1/27       165     171
  Hawaii GO 5.000%  10/1/27        55      57
  Hawaii GO 5.000%   1/1/28       125     133
  Hawaii GO 5.000%  10/1/28       130     134
  Hawaii GO 4.000%   4/1/30        60      61
  Hawaii GO 4.000%   4/1/31        75      76
  Hawaii GO 4.000%  10/1/31        55      56
  Hawaii GO 5.000%   1/1/33        75      79
  Hawaii GO 5.000%   1/1/36       195     204
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/25        50      50
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/26       255     261
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   9/1/26       140     145
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/27       135     141
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   9/1/27       125     132
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/29       275     298
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/29        70      76
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   9/1/29       100     107
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/30        75      82
  Honolulu HI City & County (Honolulu Rail Transit Project) GO 5.000%   3/1/31        25      28
5 Honolulu HI City & County Wastewater System Sewer Revenue 5.000%   7/1/33        70      79
5 Honolulu HI City & County Wastewater System Sewer Revenue 5.000%   7/1/35        30      34
5 Honolulu HI City & County Wastewater System Sewer Revenue 5.000%   7/1/38        15      17
  Honolulu HI City & County Wastewater System Sewer Revenue 4.000%   7/1/42       135     134
  Honolulu HI City & County Wastewater System Sewer Revenue, Prere. 5.000%   7/1/25        15      15
                                 2,898
Idaho (0.2%)
  Idaho Housing & Finance Association Appropriations Revenue RAN 5.000%  7/15/26       145     149
  Idaho State Building Authority Intergovernmental Agreement Revenue 5.000%   6/1/32       250     284
  Idaho State Building Authority Intergovernmental Agreement Revenue 5.000%   6/1/33       250     287
  Idaho State Building Authority Intergovernmental Agreement Revenue 5.000%   6/1/34       100     116
                                   836
Illinois (6.6%)
  Chicago IL GO 5.000%   1/1/33       400     427
  Chicago IL GO 5.000%   1/1/34       100     104
  Chicago IL GO 5.500%   1/1/35       150     157
  Chicago IL GO 5.000%   1/1/42       100     102
  Chicago IL GO 5.000%   1/1/43        40      40
  Chicago IL GO 5.000%   1/1/44       150     151
  Chicago IL GO 5.000%   1/1/44       270     272
1 Chicago IL Wastewater Transmission Sewer Revenue 5.000%   1/1/32        55      61
1 Chicago IL Wastewater Transmission Sewer Revenue 5.250%   1/1/42       150     153
1 Chicago IL Waterworks Water Revenue 5.000%  11/1/31       250     278
1 Chicago IL Waterworks Water Revenue 5.000%  11/1/35        90      99
1 Chicago IL Waterworks Water Revenue 5.000%  11/1/36       100     109
  Chicago IL Waterworks Water Revenue 5.000%  11/1/37       160     178
2 Chicago Midway International Airport Port, Airport & Marina Revenue 5.000%   1/1/34        40      45
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/29       125     127
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/32        65      66
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/33        80      81
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 4.000%   1/1/35        90      92
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/35        65      66
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 4.000%   1/1/36        30      30
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/36        95      98
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/37        65      69
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/37       100     101
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/38       160     164
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/38        70      74
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/38        25      25
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/39       135     138
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 5.000%   1/1/39       105     110
2 Chicago O'Hare International Airport Port, Airport & Marina Revenue 4.250%   1/1/42        35      35
  Chicago O'Hare International Airport Port, Airport & Marina Revenue 4.000%   1/1/44       245     235
  Chicago Transit Authority Sales Tax Receipts Fund Sales Tax Revenue 5.000%  12/1/43        30      32
  Chicago Transit Authority Sales Tax Receipts Fund Sales Tax Revenue 5.000%  12/1/44       150     160
  Cook County IL GO 5.000% 11/15/25        75      76
  Cook County IL GO 5.000% 11/15/28        55      59
  Cook County IL GO 5.000% 11/15/29       240     261
  Cook County IL GO 5.000% 11/15/31       145     150
  Cook County IL Sales Tax Revenue 4.000% 11/15/39        75      75
  Illinois (Rebuild Illinois Program) GO 5.000%  11/1/31        80      86
  Illinois (Rebuild Illinois Program) GO 4.000%  11/1/33        10      10
  Illinois Finance Authority College & University Revenue 5.000%   4/1/31       115     128
  Illinois Finance Authority College & University Revenue 5.000%   4/1/32       100     112
  Illinois Finance Authority College & University Revenue 5.000%   4/1/34       215     246
  Illinois Finance Authority College & University Revenue 5.000%   4/1/34       135     154
  Illinois Finance Authority College & University Revenue, Prere. 5.000%  10/1/25       140     142
  Illinois Finance Authority Water Revenue 5.000%   7/1/31       240     248
  Illinois Finance Authority Water Revenue 5.000%   7/1/32       215     222
  Illinois Finance Authority Water Revenue 5.000%   7/1/33       120     124
  Illinois Finance Authority Water Revenue 4.000%   7/1/37       265     268
  Illinois GO 5.000%  10/1/25        40      40
  Illinois GO 5.000%  11/1/25       120     122
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Illinois GO 5.000%  11/1/25        35      35
  Illinois GO 5.000%   2/1/26       100     102
  Illinois GO 5.000%   2/1/26       795     810
  Illinois GO 5.500%   5/1/26         5       5
  Illinois GO 5.000%   7/1/26        70      72
  Illinois GO 5.000%  11/1/26        85      88
  Illinois GO 5.000%   2/1/27        75      78
  Illinois GO 5.000%   2/1/27       205     212
  Illinois GO 5.000%   3/1/27       105     109
  Illinois GO 5.000%   5/1/27       100     104
  Illinois GO 5.000%   7/1/27        55      57
  Illinois GO 5.000%   2/1/28        15      15
  Illinois GO 5.000%   2/1/28       165     173
  Illinois GO 5.000%   3/1/28       100     105
  Illinois GO 5.000%   3/1/28       275     289
  Illinois GO 5.000%   5/1/28        70      74
  Illinois GO 5.000%   7/1/28        45      48
  Illinois GO 5.000%  10/1/28        60      64
  Illinois GO 5.000%  11/1/28       155     162
  Illinois GO 5.000%   2/1/29        50      52
  Illinois GO 5.000%   5/1/29        45      48
  Illinois GO 5.000%   7/1/29       175     187
  Illinois GO 5.000%  10/1/29       100     107
  Illinois GO 5.000%  11/1/29       400     418
  Illinois GO 5.000%  12/1/29        75      81
1 Illinois GO 4.000%   2/1/30        15      15
  Illinois GO 5.000%   3/1/30        35      38
  Illinois GO 5.000%   5/1/30       215     232
  Illinois GO 5.000%   5/1/30       100     108
  Illinois GO 5.500%   5/1/30        65      69
  Illinois GO 5.000%  10/1/30        50      53
  Illinois GO 5.000%  10/1/30        25      26
1 Illinois GO 4.000%   2/1/31        85      86
  Illinois GO 5.000%   3/1/31       100     109
  Illinois GO 5.000%   3/1/31        25      27
  Illinois GO 5.000%   3/1/31       115     126
  Illinois GO 5.000%   7/1/31        95     104
  Illinois GO 5.000%  12/1/31        80      88
  Illinois GO 5.000%   2/1/32        25      28
  Illinois GO 5.000%   3/1/32        65      72
  Illinois GO 5.000%   7/1/32        75      83
  Illinois GO 5.000%   5/1/33       250     274
  Illinois GO 5.000%   5/1/33       295     328
  Illinois GO 5.000%  10/1/33       100     105
  Illinois GO 5.000%   2/1/34       205     229
  Illinois GO 5.250%  10/1/35       280     312
  Illinois GO 5.000%  12/1/35        25      28
  Illinois GO 5.000%   2/1/36       135     150
  Illinois GO 5.000%   5/1/36        45      49
  Illinois GO 5.000%   7/1/36        45      49
  Illinois GO 5.250%  10/1/36        15      17
  Illinois GO 5.250%   3/1/37        80      88
  Illinois GO 5.000%   5/1/37        30      33
  Illinois GO 5.000%   5/1/37       100     111
  Illinois GO 5.250%   3/1/38        95     104
  Illinois GO 5.000%  12/1/38        15      16
  Illinois GO 5.000%   2/1/39        20      22
  Illinois GO 5.500%   5/1/39       170     184
  Illinois GO 4.000%   3/1/40        35      34
  Illinois GO 5.000%   5/1/40       105     114
  Illinois GO 5.000%   5/1/41       470     508
  Illinois GO 4.000%  10/1/41        60      57
  Illinois GO 5.500%   3/1/42        55      60
  Illinois GO 4.000%  10/1/43       250     235
  Illinois GO 5.250%   5/1/44       150     163
  Illinois Municipal Electric Agency Electric Power & Light Revenue 5.000%   2/1/27       150     151
  Illinois Municipal Electric Agency Electric Power & Light Revenue 5.000%   2/1/30       120     121
  Illinois Sales Tax Revenue 5.000%  6/15/30       195     211
  Illinois Sales Tax Revenue 5.000%  6/15/33        80      89
  Illinois Sales Tax Revenue 5.000%  6/15/34        50      56
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Illinois Sales Tax Revenue 5.000%  6/15/37        90      98
  Illinois Sales Tax Revenue 5.000%  6/15/38        75      81
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/26        90      92
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/26       250     255
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/27        65      68
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/27       145     151
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/28       175     185
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/28       235     249
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/29        90      97
  Illinois State Toll Highway Authority Highway Revenue 4.000%  12/1/31       200     201
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/36        70      70
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/36       235     238
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/36       615     619
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/37       265     268
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/37        50      50
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/37       145     164
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/40       355     357
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/40       350     352
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/41        30      32
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/41       100     104
  Illinois State Toll Highway Authority Highway Revenue 4.000%   1/1/42       150     146
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/42       615     633
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/43       340     362
  Illinois State Toll Highway Authority Highway Revenue 4.000%   1/1/44        70      67
  Illinois State Toll Highway Authority Highway Revenue 5.000%   1/1/44       105     113
6 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000%  6/15/31        25      20
6 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000%  6/15/34        40      28
6 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000% 12/15/34       215     149
6 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000%  6/15/37       195     121
6 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000%  6/15/38        40      23
6 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000% 12/15/38       400     229
1,6 Metropolitan Pier & Exposition Authority Appropriations Revenue 0.000% 12/15/40       100      52
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 4.000% 12/15/26       230     233
  Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 5.000%  6/15/29        55      57
6 Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 0.000%  6/15/30       105      87
1 Metropolitan Pier & Exposition Authority Appropriations Revenue (MCCormick Place Expansion Project) 0.000%  6/15/44       300     126
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/27       225     233
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/29       665     688
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/30        20      22
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/31        45      46
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/31       100     112
  Metropolitan Water Reclamation District of Greater Chicago GO 5.250%  12/1/32        15      17
  Metropolitan Water Reclamation District of Greater Chicago GO 5.000%  12/1/41       100     111
  Northern Illinois Municipal Power Agency Electric Power & Light Revenue 4.000%  12/1/41        75      73
  Railsplitter Tobacco Settlement Authority Tobacco Settlement Funded Revenue, ETM 5.000%   6/1/25       125     126
1 Regional Transportation Authority Sales Tax Revenue 5.750%   6/1/29        75      82
  Sales Tax Securitization Corp. Intergovernmental Agreement Revenue 5.000%   1/1/31        85      93
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/26        50      51
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/27       300     310
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/28       200     210
  Sales Tax Securitization Corp. Sales Tax Revenue 5.500%   1/1/31        25      27
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/32        45      50
  Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/36        25      27
2 Sales Tax Securitization Corp. Sales Tax Revenue 5.000%   1/1/37        25      27
  Sales Tax Securitization Corp. Sales Tax Revenue 4.000%   1/1/38        25      25
  Sales Tax Securitization Corp. Sales Tax Revenue 4.000%   1/1/39       250     249
2 Sales Tax Securitization Corp. Sales Tax Revenue 4.000%   1/1/40        50      50
                                23,865
Indiana (0.8%)
  Allen County Building Corp. Lease (Abatement) Revenue 4.000%  7/15/44       150     144
  Crown Point Multi School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/40        80      85
  Indiana Finance Authority Lease (Appropriation) Revenue (Stadium Project) 5.000%   2/1/29        70      75
  Indiana Finance Authority Lease (Appropriation) Revenue (Stadium Project) 5.000%   2/1/31        25      27
  Indiana Finance Authority Lease (Appropriation) Revenue (Stadium Project) 5.000%   2/1/33       205     228
  Indiana Finance Authority Lease (Appropriation) Revenue (Stadium Project) 4.000%   2/1/36       430     442
  Indiana Finance Authority Lease Revenue 5.000%  12/1/25       140     143
  Indiana Finance Authority Lease Revenue 5.000%   6/1/28        80      83
  Indiana Finance Authority Lease Revenue 5.000%   6/1/28       385     412
  Indiana Finance Authority Lease Revenue 5.000%   6/1/29       135     147
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Indiana Finance Authority Lease Revenue 5.000%   2/1/37       110     117
  Indiana Finance Authority Sewer Revenue (CWA Authority Project) 5.000%  10/1/41        50      51
  Indiana Finance Authority Water Revenue 5.000%   2/1/27        85      88
  Indiana Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/33        50      51
  Indiana Municipal Power Agency Electric Power & Light Revenue 4.000%   1/1/42       100      99
  Indiana Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/42       150     154
4 Indiana Municipal Power Agency Electric Power & Light Revenue 5.000%   1/1/43       100     109
  Indiana University College & University Revenue 5.000%   6/1/34        95     110
1 Indianapolis Local Public Improvement Bond Bank Miscellaneous Revenue 4.000%   6/1/39        50      50
  Merrillville Multi School Building Corp. Lease (Abatement) Revenue 5.000%  1/15/42        95     102
2 Westfield-Washington Multi-School Building Corp. Lease (Abatement) Revenue 5.250%  7/15/43       100     110
                                 2,827
Iowa (0.1%)
  Iowa Finance Authority Water Revenue 5.000%   8/1/28        50      53
  Iowa Finance Authority Water Revenue 5.000%   8/1/29        90      94
  Iowa Finance Authority Water Revenue 5.000%   8/1/34        85      98
  Iowa Finance Authority Water Revenue 5.000%   8/1/36        10      11
  Iowa Special Obligation Revenue 5.000%   6/1/34       135     144
                                   400
Kansas (0.2%)
1 Ellis County Unified School District No. 489 Hays GO 5.000%   9/1/42        85      90
  Kansas Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/28       100     107
  Kansas Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/29        25      25
  Kansas Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/30       100     111
  Kansas Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/32       115     130
  Kansas Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/33        35      35
  Kansas Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/35       135     156
                                   654
Kentucky (0.5%)
6 Kentucky Municipal Power Agency Electric Power & Light Revenue 4.000%   9/1/39       125     121
  Kentucky Public Transportation Infrastructure Authority Highway Revenue 6.600%   7/1/39       100     116
  Kentucky Public Transportation Infrastructure Authority Highway Revenue 6.750%   7/1/43       100     115
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 112) 5.000%  11/1/26       180     187
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 112) 5.000%  11/1/28       100     104
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 130) 5.000%  11/1/29        30      33
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 131) 5.000%  10/1/34       100     115
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 131) 5.000%  10/1/43       100     109
  Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 131) 5.000%  10/1/44       100     108
  Kentucky Turnpike Authority Lease (Appropriation) Revenue (Revitalization Projects) 5.000%   7/1/25       240     242
  Louisville & Jefferson County Metropolitan Sewer District Sewer Revenue 5.000%  5/15/36        80      90
  Louisville & Jefferson County Metropolitan Sewer District Sewer Revenue 5.000%  5/15/37       100     113
  Louisville & Jefferson County Metropolitan Sewer District Sewer Revenue 5.000%  5/15/38       100     112
  Louisville & Jefferson County Visitors & Convention Commission Miscellaneous Taxes Revenue 3.125%   6/1/41        95      82
2 Scott County School District Finance Corp. Lease (Appropriation) Revenue 5.000%   9/1/41        55      59
                                 1,706
Louisiana (0.3%)
1 Jefferson Sales Tax District Sales Tax Revenue 4.000%  12/1/42       145     141
  Louisiana GO 5.000%   8/1/26       250     258
  Louisiana GO 5.000%   8/1/28        50      52
  Louisiana GO 5.000%   9/1/30       105     116
  Louisiana GO 5.000%   2/1/31        50      56
  Louisiana GO 5.000%   9/1/31       100     112
  Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue 5.000%  8/15/35       105     108
  Shreveport LA Water & Sewer Water Revenue 5.000%  12/1/40       370     374
                                 1,217
Maryland (1.9%)
  Maryland Department of Transportation Fuel Sales Tax Revenue 4.000%  11/1/25       220     220
  Maryland Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/26       285     295
  Maryland Department of Transportation Fuel Sales Tax Revenue 5.000%   9/1/29        60      63
  Maryland Department of Transportation Fuel Sales Tax Revenue 4.000% 12/15/29        10      10
  Maryland Department of Transportation Fuel Sales Tax Revenue 3.000% 12/15/30        45      44
  Maryland Department of Transportation Fuel Sales Tax Revenue 5.000%  10/1/31        40      44
  Maryland Department of Transportation Fuel Sales Tax Revenue 3.000%  11/1/31        25      24
  Maryland Department of Transportation Fuel Sales Tax Revenue 2.500%  10/1/33        65      58
  Maryland Department of Transportation Fuel Sales Tax Revenue 2.125%  10/1/36       290     236
  Maryland GO 5.000%   8/1/25        30      30
  Maryland GO 5.000%   8/1/26       230     238
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Maryland GO 5.000%   8/1/26       500     517
  Maryland GO 5.000%   8/1/26        50      52
  Maryland GO 5.000%  3/15/27        85      89
  Maryland GO 3.000%   8/1/27        90      90
  Maryland GO 4.000%   3/1/28        50      52
  Maryland GO 5.000%  3/15/28        65      69
  Maryland GO 5.000%   6/1/28       100     107
  Maryland GO 4.000%   8/1/28       145     151
  Maryland GO 5.000%   8/1/28       230     247
  Maryland GO 5.000%  3/15/29       165     176
  Maryland GO 4.000%   8/1/29       175     184
  Maryland GO 5.000%   8/1/29        65      71
  Maryland GO 5.000%   3/1/30       165     182
  Maryland GO 5.000%  3/15/30        60      64
  Maryland GO 5.000%  3/15/30       160     173
  Maryland GO 5.000%   6/1/30       235     261
  Maryland GO 5.000%   8/1/30       165     180
  Maryland GO 5.000%   8/1/30       245     273
  Maryland GO 5.000%   3/1/31        50      56
  Maryland GO 5.000%  3/15/31        70      76
  Maryland GO 5.000%  3/15/31       125     133
  Maryland GO 3.000%   6/1/31        20      20
  Maryland GO 5.000%   3/1/32        25      28
  Maryland GO 5.000%   6/1/33        75      85
  Maryland GO 5.000%   3/1/34       105     117
  Maryland GO 5.000%  3/15/34       280     321
  Maryland GO 5.000%   6/1/34       200     226
  Maryland GO 5.000%   8/1/34        10      11
  Maryland GO 5.000%   3/1/35       380     420
  Maryland GO 5.000%  3/15/35        70      80
  Maryland GO 5.000%   6/1/35       150     169
  Maryland GO 4.000%   8/1/35        15      16
  Maryland GO 5.000%   6/1/36       455     526
  Maryland GO 4.000%   8/1/36        55      57
  Maryland GO 5.000%   6/1/37        70      78
  Montgomery County MD GO 5.000%  10/1/26        50      52
  Montgomery County MD GO 5.000%  12/1/29       120     132
  Prince George's County MD GO 3.000%  9/15/28        45      45
  Prince George's County MD GO 5.000%  7/15/31        75      80
                                 6,928
Massachusetts (3.3%)
  Commonwealth of Massachusetts GO 5.000%   5/1/25        50      50
  Commonwealth of Massachusetts GO 5.000%   1/1/26        75      77
  Commonwealth of Massachusetts GO 5.000%   7/1/26        95      98
  Commonwealth of Massachusetts GO 5.000%  10/1/26        60      62
  Commonwealth of Massachusetts GO 5.000%  11/1/26        50      52
  Commonwealth of Massachusetts GO 5.000%   9/1/27       120     127
  Commonwealth of Massachusetts GO 5.000%  10/1/27       465     493
  Commonwealth of Massachusetts GO 5.000%   7/1/28       125     129
  Commonwealth of Massachusetts GO 5.000%   7/1/28        50      54
  Commonwealth of Massachusetts GO 5.000%  11/1/28       120     130
  Commonwealth of Massachusetts GO 5.000%  11/1/28       115     124
  Commonwealth of Massachusetts GO 5.000%   7/1/29        60      62
  Commonwealth of Massachusetts GO 5.000%   7/1/30        55      61
  Commonwealth of Massachusetts GO 5.000%   7/1/30        60      67
  Commonwealth of Massachusetts GO 5.000%   9/1/30        50      56
  Commonwealth of Massachusetts GO 5.000%  12/1/30       250     280
  Commonwealth of Massachusetts GO 5.000%   1/1/31        60      65
  Commonwealth of Massachusetts GO 5.000%  11/1/31       130     147
  Commonwealth of Massachusetts GO 5.000%  12/1/31       100     113
  Commonwealth of Massachusetts GO 5.000%   7/1/32        80      88
  Commonwealth of Massachusetts GO 5.000%  10/1/32        55      63
  Commonwealth of Massachusetts GO 5.000%  11/1/32       225     258
  Commonwealth of Massachusetts GO 4.000%   4/1/33        20      20
  Commonwealth of Massachusetts GO 5.000%   5/1/33        50      58
  Commonwealth of Massachusetts GO 5.000%   7/1/33        90      92
  Commonwealth of Massachusetts GO 5.000%  10/1/33        75      85
  Commonwealth of Massachusetts GO 3.000%  11/1/33        10      10
  Commonwealth of Massachusetts GO 4.000%   2/1/34        55      58
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Commonwealth of Massachusetts GO 5.000%   5/1/34        80      92
  Commonwealth of Massachusetts GO 3.000%   9/1/34        35      33
  Commonwealth of Massachusetts GO 5.000%   5/1/35       200     232
  Commonwealth of Massachusetts GO 5.000%  10/1/35        35      39
  Commonwealth of Massachusetts GO 5.000%   2/1/36        65      67
  Commonwealth of Massachusetts GO 5.000%   5/1/36       200     231
  Commonwealth of Massachusetts GO 4.000%   9/1/36       150     150
  Commonwealth of Massachusetts GO 5.000%  12/1/36       100     103
  Commonwealth of Massachusetts GO 5.000%   4/1/37       200     207
  Commonwealth of Massachusetts GO 5.000%   9/1/37        45      48
  Commonwealth of Massachusetts GO 5.000%   5/1/38        15      17
  Commonwealth of Massachusetts GO 4.000%  10/1/38        40      41
  Commonwealth of Massachusetts GO 5.000%  11/1/38        50      57
  Commonwealth of Massachusetts GO 5.000%  12/1/38       570     585
  Commonwealth of Massachusetts GO 3.000%   7/1/39        30      26
  Commonwealth of Massachusetts GO 4.000%   9/1/39       150     150
  Commonwealth of Massachusetts GO 3.000%  11/1/39        40      35
  Commonwealth of Massachusetts GO 5.000%   1/1/40       190     212
  Commonwealth of Massachusetts GO 3.500%   2/1/40        20      19
  Commonwealth of Massachusetts GO 5.000%   5/1/40        50      53
  Commonwealth of Massachusetts GO 5.000%   7/1/40       400     429
  Commonwealth of Massachusetts GO 3.250%   9/1/40        70      64
  Commonwealth of Massachusetts GO 5.000%  11/1/40       100     112
  Commonwealth of Massachusetts GO 5.000%  12/1/40       250     282
  Commonwealth of Massachusetts GO 3.000%   4/1/41        50      43
  Commonwealth of Massachusetts GO 5.000%   5/1/41       200     222
  Commonwealth of Massachusetts GO 5.000%  10/1/41       100     109
  Commonwealth of Massachusetts GO 5.000%   5/1/42       200     220
  Commonwealth of Massachusetts GO 4.000%   9/1/42        45      44
  Commonwealth of Massachusetts GO 5.000%  11/1/42       200     220
  Commonwealth of Massachusetts GO 5.000%  12/1/42       500     554
  Commonwealth of Massachusetts GO 2.500%   3/1/43        55      42
  Commonwealth of Massachusetts GO 5.000%   5/1/43        45      49
  Commonwealth of Massachusetts GO 5.250%   1/1/44        15      16
  Commonwealth of Massachusetts GO 3.000%   4/1/44       110      90
  Commonwealth of Massachusetts GO 5.000%   5/1/44       130     136
6 Commonwealth of Massachusetts Special Obligation Revenue 5.500%   1/1/30        55      61
  Commonwealth of Massachusetts Transportation Fund Fuel Sales Tax Revenue (Rail Enhancement Program) 5.000%   6/1/44        90      98
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/26        35      36
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/30       150     167
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/37       150     173
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/39       255     289
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/40        45      51
  Massachusetts Bay Transportation Authority Sales Tax Revenue 5.000%   7/1/41       150     167
  Massachusetts Bay Transportation Authority Sales Tax Revenue 4.000%   7/1/44        90      89
  Massachusetts Bay Transportation Authority Sales Tax Revenue BAN 4.000%   5/1/25        70      70
  Massachusetts Bay Transportation Authority Sales Tax Revenue, Prere. 5.000%   7/1/25       280     283
6 Massachusetts Department of Transportation Highway Revenue 0.000%   1/1/28        90      82
  Massachusetts Development Finance Agency College & University Revenue 5.000%  7/15/34        40      41
  Massachusetts Development Finance Agency College & University Revenue 4.000%  2/15/36       100     109
  Massachusetts Development Finance Agency College & University Revenue 4.000%  7/15/36       145     146
  Massachusetts Development Finance Agency College & University Revenue 5.000%  7/15/40       200     238
  Massachusetts School Building Authority Sales Tax Revenue 5.000%  8/15/26       175     177
  Massachusetts School Building Authority Sales Tax Revenue 5.000%  8/15/27       105     106
  Massachusetts School Building Authority Sales Tax Revenue 3.050%  8/15/28        75      74
  Massachusetts School Building Authority Sales Tax Revenue 5.000% 11/15/33       150     155
  Massachusetts School Building Authority Sales Tax Revenue 5.000% 11/15/39       740     758
  Massachusetts School Building Authority Sales Tax Revenue 4.000%  2/15/43       175     173
  Massachusetts Transportation Trust Fund Metropolitan Highway System Highway Revenue 5.000%   1/1/34       115     123
1 Massachusetts Water Resources Authority Water Revenue 5.250%   8/1/26       105     109
1 Massachusetts Water Resources Authority Water Revenue 5.250%   8/1/29        65      72
  Massachusetts Water Resources Authority Water Revenue 5.000%   8/1/30        55      58
  Massachusetts Water Resources Authority Water Revenue 3.000%   8/1/42       135     113
                                12,026
Michigan (1.6%)
1,7 Detroit City School District GO 5.250%   5/1/30        55      61
1,7 Detroit City School District GO 5.250%   5/1/32        35      39
  Great Lakes Water Authority Sewage Disposal System Sewer Revenue 5.000%   7/1/32        45      51
  Great Lakes Water Authority Sewage Disposal System Sewer Revenue 5.000%   7/1/38        25      28
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Great Lakes Water Authority Sewage Disposal System Water Revenue 5.000%   7/1/30        85      87
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/28        15      15
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/30        50      51
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/31       100     102
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/31        50      51
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/35       210     214
  Great Lakes Water Authority Water Supply System Water Revenue 5.000%   7/1/37        30      34
2 Gwinn Area Community School District GO 3.000%   5/1/26       185     185
  Michigan Appropriations Revenue GAN 5.000%  3/15/25       750     752
  Michigan Appropriations Revenue GAN 5.000%  3/15/27       360     376
  Michigan Finance Authority Health, Hospital, Nursing Home Revenue, Prere. 5.000%  5/15/25       500     503
  Michigan Finance Authority Intergovernmental Agreement Revenue (Charter County of Wayne Criminal Justice Center Project) 5.000%  11/1/43       500     513
  Michigan State Building Authority Lease (Appropriation) Revenue 5.000% 10/15/31       455     468
  Michigan State Building Authority Lease (Appropriation) Revenue 5.000% 10/15/32       180     185
  Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) 5.000%  4/15/29       225     228
  Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) 5.000%  4/15/31        75      76
  Michigan State University College & University Revenue 5.000%  8/15/40        75      76
  Michigan State University College & University Revenue 4.000%  2/15/44        85      83
  Michigan Trunk Line Fuel Sales Tax Revenue 5.000% 11/15/30        35      39
  Michigan Trunk Line Fuel Sales Tax Revenue 5.000% 11/15/31       235     261
  Michigan Trunk Line Fuel Sales Tax Revenue 5.000% 11/15/32       125     140
  Michigan Trunk Line Fuel Sales Tax Revenue 5.000% 11/15/33        65      72
  Michigan Trunk Line Fuel Sales Tax Revenue 5.000% 11/15/34       260     289
  Michigan Trunk Line Fuel Sales Tax Revenue 5.000% 11/15/35        50      55
  Michigan Trunk Line Fuel Sales Tax Revenue 5.000% 11/15/36        40      44
  Michigan Trunk Line Fuel Sales Tax Revenue 4.000% 11/15/38        35      36
  Michigan Trunk Line Fuel Sales Tax Revenue 4.000% 11/15/38        15      15
  Michigan Trunk Line Fuel Sales Tax Revenue 4.000% 11/15/41        70      71
  Michigan Trunk Line Fuel Sales Tax Revenue 4.000% 11/15/44       275     271
  Michigan Trunk Line Fuel Sales Tax Revenue (Rebuilding Michigan Program) 5.000% 11/15/33       120     139
  Michigan Trunk Line Fuel Sales Tax Revenue (Rebuilding Michigan Program) 5.000% 11/15/38        30      34
  Michigan Trunk Line Fuel Sales Tax Revenue (Rebuilding Michigan Program) 5.000% 11/15/41       150     165
  Wayne County Airport Authority Port, Airport & Marina Revenue 5.000%  12/1/40       165     166
                                 5,975
Minnesota (1.0%)
  Metropolitan Council GAN GO 5.000%  12/1/29       145     159
  Minneapolis-St. Paul Metropolitan Airports Commission Port, Airport & Marina Revenue 5.000%   1/1/28       120     125
  Minneapolis-St. Paul Metropolitan Airports Commission Port, Airport & Marina Revenue 5.000%   1/1/30       235     243
  Minnesota (State Office Building Project) COP 5.000%  11/1/40        30      33
  Minnesota Appropriations Revenue 5.000%   3/1/27        75      78
  Minnesota Appropriations Revenue 5.000%   3/1/30        25      28
  Minnesota GO 5.000%   8/1/28       125     135
  Minnesota GO 5.000%  10/1/28       100     106
  Minnesota GO 5.000%   9/1/29        25      27
  Minnesota GO 5.000%   8/1/30        50      56
  Minnesota GO 5.000%   9/1/30        80      89
  Minnesota GO 5.000%   8/1/31        25      28
  Minnesota GO 5.000%   9/1/31        65      73
  Minnesota GO 5.000%   8/1/32        85      97
  Minnesota GO 5.000%   8/1/32       225     257
  Minnesota GO 5.000%   9/1/32        50      56
  Minnesota GO 5.000%   8/1/33       190     220
  Minnesota GO 5.000%   8/1/38       250     286
  Minnesota GO 5.000%   8/1/40        10      11
  Minnesota GO 5.000%   8/1/41       240     270
  Minnesota GO 5.000%   8/1/42       260     291
  Minnesota Public Facilities Authority State Revolving Fund Water Revenue 5.000%   3/1/25        50      50
  Minnesota Public Facilities Authority State Revolving Fund Water Revenue 5.000%   3/1/31        50      56
  Minnesota Public Facilities Authority State Revolving Fund Water Revenue 5.000%   3/1/32       265     302
  Minnesota Public Facilities Authority State Revolving Fund Water Revenue 5.000%   3/1/33       275     316
  St. County Louis MN GO 3.000%  12/1/26        80      80
                                 3,472
Mississippi (0.3%)
  Mississippi Development Bank Intergovernmental Agreement Revenue (Desoto County Mississippi Highway Refunding Project) 5.000%   1/1/32        50      56
  Mississippi GO 5.000%  10/1/26       100     101
  Mississippi GO 5.000%  10/1/28       305     321
  Mississippi GO, Prere. 5.000%  10/1/25       105     107
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Mississippi GO, Prere. 5.000%  10/1/27       640     677
                                 1,262
Missouri (0.1%)
  Springfield MO Public Utility Multiple Utility Revenue 4.000%   8/1/34        55      55
  University of Missouri of Curators College & University Revenue 5.000%  11/1/30       110     123
  University of Missouri of Curators College & University Revenue 5.000%  11/1/34       140     163
                                   341
Nebraska (0.2%)
  Lincoln NE Electric System Electric Power & Light Revenue 4.000%   9/1/40        45      44
  Omaha Public Power District Electric Power & Light Revenue 5.000%   2/1/30       120     130
  Omaha Public Power District Electric Power & Light Revenue 5.000%   2/1/39       250     281
  Omaha Public Power District Electric Power & Light Revenue 3.000%   2/1/42       150     125
  Omaha Public Power District Electric Power & Light Revenue 5.000%   2/1/42       170     174
                                   754
Nevada (0.9%)
  Clark County Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/25       215     217
  Clark County Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/26        90      93
  Clark County Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/26        50      51
  Clark County Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/29       260     283
  Clark County Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/32        70      75
  Clark County Department of Aviation Port, Airport & Marina Revenue 5.000%   7/1/40        95      98
1 Clark County NV Fuel Sales Tax Revenue 4.000%   7/1/40       100     100
  Clark County NV GO 5.000%  11/1/28        15      15
  Clark County NV GO 5.000%   6/1/38        60      63
  Clark County NV GO 5.000%   6/1/43        85      88
  Clark County NV Passenger Facility Charge Port, Airport & Marina Revenue 5.000%   7/1/26        95      98
  Clark County School District GO 5.000%  6/15/25        50      50
  Clark County School District GO 5.000%  6/15/25       225     227
  Clark County School District GO 5.000%  6/15/25        80      81
  Clark County School District GO 5.000%  6/15/26       565     581
  Las Vegas Valley Water District GO 5.000%   6/1/35       100     115
  Las Vegas Valley Water District GO 5.000%   6/1/41        75      76
  Nevada Highway Improvement Fuel Sales Tax Revenue 5.000%  12/1/26        60      62
  Nevada Highway Improvement Fuel Sales Tax Revenue 5.000%  12/1/27       150     154
  Nevada Highway Improvement Fuel Sales Tax Revenue 5.000%  12/1/30       235     245
  Nevada Highway Improvement Fuel Sales Tax Revenue 5.000%  12/1/31       265     276
  Truckee Meadows Water Authority Water Revenue, Prere. 5.000%   7/1/26        75      77
  Washoe County NV Gas Tax Fuel Sales Tax Revenue 5.000%   2/1/42       135     140
                                 3,265
New Hampshire (0.1%)
  New Hampshire Municipal Bond Bank Miscellaneous Revenue 5.000%  8/15/32       200     227
New Jersey (3.8%)
  New Jersey Economic Development Authority Appropriations Revenue 4.250%  6/15/26        30      30
8 New Jersey Economic Development Authority Appropriations Revenue 5.500%   9/1/26       275     286
  New Jersey Economic Development Authority Appropriations Revenue 5.250%  6/15/27        60      60
  New Jersey Economic Development Authority Appropriations Revenue, Prere. 5.000%  6/15/25       475     479
  New Jersey Economic Development Authority Appropriations Revenue, Prere. 5.000%  6/15/25        65      66
  New Jersey Economic Development Authority Appropriations Revenue, Prere. 5.250%  6/15/25       105     106
  New Jersey Economic Development Authority Appropriations Revenue, Prere. 5.250%  6/15/25       150     151
  New Jersey Economic Development Authority Intergovernmental Agreement Revenue 5.000%   3/1/26        15      15
  New Jersey Economic Development Authority Intergovernmental Agreement Revenue 5.000%   3/1/28        55      58
  New Jersey Economic Development Authority Lease (Appropriation) Revenue 4.000%  11/1/25       190     192
  New Jersey Economic Development Authority Lease (Appropriation) Revenue (New Jersey Transit Transportation Project) 4.000%  11/1/38       150     151
  New Jersey Economic Development Authority Lease Revenue (State House Project) 5.000%  6/15/43       245     253
  New Jersey GO 5.000%   6/1/28        75      80
  New Jersey GO 4.000%   6/1/31       280     296
  New Jersey GO 4.000%   6/1/32       250     266
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/25       125     127
8 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/26       370     349
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/26       200     189
6 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/27       195     178
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/27        15      16
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/27       250     264
8 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/28        45      40
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/28        60      53
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/28       335     295
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/29       145     157
1 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/29        45      38
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/29       340     288
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/30       260     286
6 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/30        90      73
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/30        40      33
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/31       190     211
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/31        30      33
6 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/31       255     200
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/31       240     188
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 4.000% 12/15/31       125     129
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/32       240     270
1 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/32       575     435
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/32       245     261
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/33       135     153
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/33        55      40
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/34        75      84
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/34        25      28
1 New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/34       485     337
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000% 12/15/34       130     138
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 4.000%  6/15/36        25      25
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/36        15       9
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 5.000%  6/15/37        15      17
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/37       280     167
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 0.000% 12/15/38       320     181
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 4.000%  6/15/40       350     348
  New Jersey Transportation Trust Fund Authority Appropriations Revenue 4.000%  6/15/42       400     391
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/33       125     133
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/34       110     125
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/35        75      83
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/35        90     102
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 4.000%  6/15/36       285     288
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/36        25      28
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/37       100     112
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/40       105     116
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 5.000%  6/15/43         5       5
  New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) 4.250%  6/15/44       110     110
  New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue 5.000%  6/15/38       130     140
  New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue 3.250%  6/15/39       100      92
  New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue 4.000%  6/15/40       100      99
  New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue 4.000%  6/15/44        25      24
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 5.000%  6/15/33       225     255
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 5.000%  6/15/34       100     114
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 5.000%  6/15/37       150     167
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 5.000%  6/15/38        45      50
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 4.250%  6/15/40       200     204
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 5.000%  6/15/40       200     222
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue 5.250%  6/15/41       200     225
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) 5.000%  6/15/31       100     111
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) 5.000%  6/15/41        85      94
  New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) 5.000%  6/15/44       100     108
  New Jersey Transportation Trust Fund Authority Lease (Appropriation) Revenue 0.000% 12/15/32        40      30
  New Jersey Transportation Trust Fund Authority Lease (Appropriation) Revenue 0.000% 12/15/38       100      57
  New Jersey Transportation Trust Fund Authority Lease (Appropriation) Revenue 0.000% 12/15/39       450     241
1 New Jersey Turnpike Authority Highway Revenue 5.250%   1/1/26        50      51
1 New Jersey Turnpike Authority Highway Revenue 5.250%   1/1/26        60      61
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/27        50      50
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/29        55      57
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/31       135     137
  New Jersey Turnpike Authority Highway Revenue 4.000%   1/1/33       250     255
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/34        30      31
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/34       125     131
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/35       215     225
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/36        15      16
  New Jersey Turnpike Authority Highway Revenue 4.000%   1/1/42       260     260
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/42        20      22
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/42       100     110
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New Jersey Turnpike Authority Highway Revenue 4.000%   1/1/43       100      99
  New Jersey Turnpike Authority Highway Revenue 5.000%   1/1/44       215     233
  Parsippany-Troy Hills Township NJ GO 3.000%  9/15/26        75      75
                                13,668
New Mexico (0.3%)
  New Mexico Finance Authority Fuel Sales Tax Revenue 5.000%  6/15/29       150     160
  New Mexico Finance Authority Fuel Sales Tax Revenue 5.000%  6/15/29        95     103
  New Mexico Finance Authority Fuel Sales Tax Revenue 5.000%  6/15/30       160     177
  New Mexico GO 5.000%   3/1/32        90     102
  New Mexico Severance Tax Permanent Fund Severance Tax Revenue 5.000%   7/1/27       160     168
  New Mexico Severance Tax Permanent Fund Severance Tax Revenue 5.000%   7/1/28       125     134
  New Mexico Severance Tax Permanent Fund Severance Tax Revenue 5.000%   7/1/29       105     114
  New Mexico Severance Tax Permanent Fund Severance Tax Revenue 5.000%   7/1/30        15      16
  New Mexico Severance Tax Permanent Fund Severance Tax Revenue 5.000%   7/1/30        15      17
  New Mexico Severance Tax Permanent Fund Severance Tax Revenue 5.000%   7/1/31       100     112
                                 1,103
New York (20.7%)
  Battery Park City Authority Miscellaneous Revenue 5.000%  11/1/40        30      32
  Battery Park City Authority Miscellaneous Revenue 4.000%  11/1/44       200     195
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/26        85      87
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/30        55      61
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/30       120     133
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/30       110     122
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/31        50      52
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/31        40      44
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/33       100     110
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/33       125     136
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/34        50      52
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/35       220     227
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/35       170     179
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/36        75      77
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/36       100     105
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/37        40      41
  Empire State Development Corp. Income Tax Revenue 5.250%  3/15/38       115     129
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/39        95      96
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/39        50      52
  Empire State Development Corp. Income Tax Revenue 5.250%  3/15/39        75      84
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/40        15      16
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/41        15      15
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/41        60      64
  Empire State Development Corp. Income Tax Revenue 5.000%  3/15/42        50      53
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/43        70      69
  Empire State Development Corp. Income Tax Revenue 4.000%  3/15/43        75      74
  Empire State Development Corp. Income Tax Revenue, ETM 5.000%  3/15/26        85      87
  Empire State Development Corp. Income Tax Revenue, Prere. 5.000%  9/15/25       165     167
  Empire State Development Corp. Intergovernmental Agreement Revenue 5.000%  3/15/34        30      34
  Empire State Development Corp. Lease (Appropriation) Revenue 5.000%  3/15/36       230     254
  Empire State Development Corp. Lease (Appropriation) Revenue 5.000%  3/15/38        35      37
  Empire State Development Corp. Lease (Appropriation) Revenue 5.000%  3/15/39       250     266
  Empire State Development Corp. Lease (Appropriation) Revenue 3.000%  3/15/40       100      87
  Empire State Development Corp. Lease (Appropriation) Revenue 3.000%  3/15/41       200     171
  Empire State Development Corp. Lease (Appropriation) Revenue 4.000%  3/15/44        40      39
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 4.000%  2/15/36        75      76
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/37        65      67
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/39        30      31
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/42        55      56
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 4.000%  2/15/44       155     151
  Long Island Power Authority Electric Power & Light Revenue 4.000%   9/1/32        50      53
  Long Island Power Authority Electric Power & Light Revenue 4.000%   9/1/33       145     152
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/33       155     165
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/36       110     127
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/40        95     106
  Long Island Power Authority Electric Power & Light Revenue PUT 3.000%   9/1/29        80      78
  Long Island Power Authority Electric Power & Light Revenue PUT 3.000%   9/1/31        80      78
  Metropolitan Transportation Authority Dedicated Tax Fund Fuel Sales Tax Revenue 5.250% 11/15/28        80      83
  Metropolitan Transportation Authority Dedicated Tax Fund Fuel Sales Tax Revenue 5.000% 11/15/36       495     509
  Metropolitan Transportation Authority Dedicated Tax Fund Fuel Sales Tax Revenue 5.000% 11/15/42       200     205
  Metropolitan Transportation Authority Dedicated Tax Fund Miscellaneous Taxes Revenue 3.000% 11/15/28       105     104
  Metropolitan Transportation Authority Dedicated Tax Fund Miscellaneous Taxes Revenue 0.000% 11/15/30       155     127
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/25       100     102
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/25        70      71
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/27        70      74
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/27        40      42
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/28        20      21
  Metropolitan Transportation Authority Transit Revenue 0.000% 11/15/29        65      55
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/29       245     252
  Metropolitan Transportation Authority Transit Revenue 5.250% 11/15/30       250     253
  Metropolitan Transportation Authority Transit Revenue 0.000% 11/15/32        10       7
  Metropolitan Transportation Authority Transit Revenue 3.000% 11/15/32       145     135
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/32        60      61
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/32        80      89
  Metropolitan Transportation Authority Transit Revenue 0.000% 11/15/33       125      89
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/33        55      58
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/33       105     106
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/34       155     156
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/34       100     112
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/35       350     353
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/35       240     242
  Metropolitan Transportation Authority Transit Revenue 3.250% 11/15/36        90      81
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/36        80      80
  Metropolitan Transportation Authority Transit Revenue 3.375% 11/15/37       150     134
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/37       210     214
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/37       125     138
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/38       225     223
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/38       200     211
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/40        30      30
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/41       100      97
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/42       470     454
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/43       150     144
1 Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/43       250     244
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/43        25      26
2 Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/43        80      83
  Monroe County NY Industrial Development Corp. College & University Revenue (University of Rochester Project) 4.000%   7/1/43       100      98
  Monroe County NY Industrial Development Corp. College & University Revenue (University of Rochester Project) 4.000%   7/1/43       100      98
  Nassau County Interim Finance Authority Sales Tax Revenue 4.000% 11/15/32       180     193
  Nassau County NY GO 4.000%   4/1/43       265     260
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 3.000%   3/1/38        60      54
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/25        25      25
  New York City Municipal Water Finance Authority Water Revenue 3.125%  6/15/27       235     235
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/27        85      90
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/29       400     423
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/31       130     147
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/31       500     503
  New York City Municipal Water Finance Authority Water Revenue 4.500%  6/15/32       125     127
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/32        65      72
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/32       100     105
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/33       100     101
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/33       100     115
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/34       200     212
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/34        65      70
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/34       105     122
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/35        35      40
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/35        85      97
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/35        55      64
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/35       215     252
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/35        60      69
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/36        30      31
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/36       220     228
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/36        60      71
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/36        10      11
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/36        50      59
  New York City Municipal Water Finance Authority Water Revenue 3.000%  6/15/37       105      96
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/37       110     116
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/38        50      50
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/38        75      78
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/38        10      11
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/39       100     100
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/39        60      60
  New York City Municipal Water Finance Authority Water Revenue 3.500%  6/15/40        50      48
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/40       170     170
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/40       100     105
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/40        35      37
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/40       300     311
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/40        50      53
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/41       135     144
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/42       290     288
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/42        40      40
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/43       100      99
  New York City Municipal Water Finance Authority Water Revenue 3.000%  6/15/44        50      40
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/44        60      58
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/44       320     341
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/44        90      95
  New York City Municipal Water Finance Authority Water Revenue, Prere. 5.000%  6/15/25        60      61
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/33        55      58
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/34       455     459
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/35       200     207
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/35        70      71
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/37        90      94
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/44       270     259
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/29        90      96
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/30        90      92
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/30       120     120
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/31        95     101
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 3.125%  7/15/32       265     261
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/34       100     105
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 4.000%  7/15/36        60      60
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 4.000%  7/15/38        30      30
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 4.000%  7/15/40       395     395
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/40       150     150
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 4.000%  7/15/42       250     244
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/43     1,000   1,002
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/43       195     197
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/25       125     127
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/25       155     158
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/25       200     203
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/25       110     112
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/26        50      52
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/27        75      80
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/27       200     212
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/28       100     107
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/28        50      51
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/28       130     140
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/28        20      21
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/29        75      76
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/29        60      63
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/30       155     157
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%   8/1/30       145     144
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%  11/1/30        15      15
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/30        75      83
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/31        95      96
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/31        25      28
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/31       110     123
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/32        50      52
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/32        50      57
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/32       135     150
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/32       260     294
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/32       150     171
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%   2/1/33        50      50
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/33        60      62
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/33       210     219
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/33       220     244
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/33        75      85
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/33        90      93
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/34        70      71
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/34        90      93
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/34        20      23
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/34       275     304
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/35        75      76
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/35        75      78
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/35        90      92
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/35       180     192
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/35       305     345
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   8/1/35       345     347
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/35       210     219
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/35        85      94
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/35       250     280
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/35       140     144
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/35       425     430
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/35        75      80
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/36        10      10
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/36       115     115
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/36        75      83
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/36       145     152
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/36       105     118
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   8/1/36        20      20
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/36       150     151
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/36       150     152
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.250%  11/1/36       125     142
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%   2/1/37       295     275
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/37       295     322
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/37       130     145
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/37        25      25
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/37       100     102
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/37       100     106
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/37       105     106
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/37       160     163
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/37       130     133
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/37        85      92
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/37        15      17
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.250%  11/1/37        90     102
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%   2/1/38       150     134
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/38        75      76
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/38        25      28
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/38        30      30
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/38        45      46
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/38        35      37
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.500%   8/1/38        10      10
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   8/1/38        95      95
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/38       100     104
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/38       175     176
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/38       325     329
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/38        45      45
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/38       145     147
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.250%  11/1/38        10      11
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/39        50      52
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.625%   8/1/39        25      24
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/39       405     445
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%  11/1/39        25      21
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/39        30      30
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/40        60      60
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/40        60      60
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/40        25      26
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/40        85      87
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/40        50      50
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/40       100     100
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.250%  11/1/40       110     123
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/41       200     200
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/42       175     172
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/42     1,000   1,026
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/42        50      54
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%   8/1/42        90      75
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   8/1/42       205     204
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/42       365     359
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.250%  11/1/42       115     126
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/43        55      54
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/43       140     143
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/43       205     218
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/43        70      68
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/43        75      80
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/44        55      53
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/44       150     159
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/44        55      58
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/44        30      32
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/45       100     107
  New York City Transitional Finance Authority Future Tax Secured Sales Tax Revenue 5.000%   2/1/33       100     100
  New York City Transitional Finance Authority Future Tax Secured Sales Tax Revenue 5.000%   2/1/41       400     400
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   8/1/25        75      76
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/27       250     265
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/29       100     109
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/31       350     394
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/32       300     341
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/36       250     285
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/37       110     125
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   2/1/38        50      56
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/39       250     280
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/40        85      95
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/40       325     363
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/42       250     273
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   2/1/43       190     205
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/43       100     109
  New York City Transitional Finance Authority Income Tax Revenue 5.000%   5/1/44       250     269
  New York City Transitional Finance Authority Income Tax Revenue 5.000%  11/1/44        50      54
  New York City Transitional Finance Authority Income Tax Revenue, ETM 5.000%   8/1/25        25      25
  New York Liberty Development Corp. Intergovernmental Agreement Revenue 2.250%  2/15/41       145     101
  New York Liberty Development Corp. Intergovernmental Agreement Revenue 3.000%  2/15/42        35      29
  New York Liberty Development Corp. Intergovernmental Agreement Revenue 2.750%  2/15/44       365     273
  New York NY GO 5.000%   8/1/25       180     182
  New York NY GO 5.000%   8/1/25        25      25
  New York NY GO 5.000%   8/1/25        50      51
  New York NY GO 5.000%   8/1/25       120     121
  New York NY GO 5.000%   8/1/25       320     324
  New York NY GO 5.000%   8/1/26       100     103
  New York NY GO 5.000%   8/1/26       105     108
  New York NY GO 5.000%   8/1/26       210     217
  New York NY GO 5.000%   9/1/26       135     140
  New York NY GO 5.000%   8/1/27       230     242
  New York NY GO 5.000%   8/1/27       135     141
  New York NY GO 5.000%   8/1/27       100     105
  New York NY GO 5.000%   9/1/27       500     528
  New York NY GO 5.000%   9/1/27       150     158
  New York NY GO 5.000%   8/1/28        75      80
  New York NY GO 5.000%   8/1/28       160     172
  New York NY GO 5.000%   8/1/28       165     177
  New York NY GO 5.000%  10/1/28        50      54
  New York NY GO 5.000%   8/1/29        35      38
  New York NY GO 5.000%   8/1/29       250     270
  New York NY GO 5.000%   9/1/29     1,000   1,092
  New York NY GO 5.000%  10/1/29        70      77
  New York NY GO 5.000%   8/1/30        75      83
  New York NY GO 5.000%   8/1/30        50      55
  New York NY GO 5.000%   8/1/30        85      94
  New York NY GO 5.000%   4/1/31        70      75
  New York NY GO 5.000%   8/1/31       100     110
  New York NY GO 5.000%   8/1/31        45      50
  New York NY GO 5.000%   8/1/32        75      83
  New York NY GO 5.000%   8/1/32       225     252
  New York NY GO 3.250%   3/1/33        45      44
  New York NY GO 5.000%   4/1/33       100     105
  New York NY GO 5.000%   8/1/33       100     100
  New York NY GO 5.000%   8/1/33       125     143
  New York NY GO 5.250%  10/1/33        15      16
  New York NY GO 5.000%   4/1/34       100     105
  New York NY GO 5.000%   8/1/34       195     224
  New York NY GO 3.000%  10/1/34       115     110
  New York NY GO 5.000%  10/1/34         5       5
  New York NY GO 5.000%   4/1/35       150     157
  New York NY GO 5.000%   5/1/35       110     122
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York NY GO 5.000%   8/1/35        90      96
  New York NY GO 5.000%   8/1/35       140     160
  New York NY GO 5.000%  10/1/35       200     224
  New York NY GO 5.000%  12/1/35        10      10
  New York NY GO 5.000%  12/1/35        80      85
  New York NY GO 4.000%   3/1/36        10      10
  New York NY GO 5.000%   4/1/36        60      67
  New York NY GO 5.000%   4/1/36        50      57
  New York NY GO 4.000%   5/1/36        45      46
  New York NY GO 5.000%   8/1/36        70      79
  New York NY GO 5.000%   8/1/36        40      43
  New York NY GO 5.000%  10/1/36        55      57
  New York NY GO 5.000%   3/1/37        50      55
  New York NY GO 5.000%   3/1/37        55      62
  New York NY GO 5.000%   5/1/37        80      88
  New York NY GO 5.000%   8/1/37       100     113
  New York NY GO 5.000%  10/1/37        50      52
  New York NY GO 5.000%   3/1/38        65      70
  New York NY GO 5.250%   5/1/38        10      11
  New York NY GO 5.000%   8/1/38       100     113
  New York NY GO 5.000%   9/1/38       550     621
  New York NY GO 5.000%  10/1/38       100     106
  New York NY GO 5.000%   3/1/39       205     230
  New York NY GO 5.000%   9/1/39       595     668
  New York NY GO 5.000%   4/1/40       150     167
  New York NY GO 5.000%   9/1/40        50      56
  New York NY GO 5.250%  10/1/40        30      33
  New York NY GO 5.000%  12/1/40        80      84
  New York NY GO 4.000%   3/1/41        25      25
  New York NY GO 5.000%   8/1/41        20      21
  New York NY GO 3.000%  10/1/41        50      42
  New York NY GO 5.000%  12/1/41       500     511
  New York NY GO 5.000%   3/1/42        40      44
  New York NY GO 5.000%   8/1/42        40      42
  New York NY GO 3.250%  10/1/42        90      77
  New York NY GO 5.250%  10/1/42       110     121
  New York NY GO 5.000%   4/1/43       150     163
  New York NY GO 5.250%   4/1/43        75      82
  New York NY GO 5.000%   3/1/44       100     108
  New York NY GO 4.000%   8/1/44        55      54
  New York NY GO 5.000%   9/1/44       150     162
  New York NY GO 3.000%  10/1/44        70      55
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/31        15      15
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/31       100     114
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/32       410     422
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/33       175     176
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/34        95      96
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/35       130     132
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/35       100     101
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/36        50      58
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/38       100      99
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/38        60      63
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/39        85      87
  New York State Dormitory Authority College & University Revenue (New School Project) 4.000%   7/1/43        10      10
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/26        15      15
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/30        15      16
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/30       570     576
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/30        30      30
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/30        75      83
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/30       130     144
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31        40      40
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31        90     101
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31        90      96
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31        95     105
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31       100     112
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31        75      84
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/32        65      71
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/32       690     691
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/33        10      10
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/33       325     354
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/33        80      84
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/33        75      85
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/34        30      30
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/34       110     110
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/34        35      37
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/34       390     438
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/35        10      10
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/35        70      76
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/35        55      57
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/35        65      73
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/35       195     208
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/36        40      41
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/36        80      81
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/36       120     123
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/36        60      69
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/37        50      51
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/37       150     154
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/37       195     199
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/37        55      57
  New York State Dormitory Authority Income Tax Revenue 5.250%  3/15/37       230     245
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/38        10      10
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/38       140     143
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/38        55      56
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/38        30      32
  New York State Dormitory Authority Income Tax Revenue 5.250%  3/15/39        35      37
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/41        15      15
  New York State Dormitory Authority Income Tax Revenue 3.000%  3/15/41       495     418
  New York State Dormitory Authority Income Tax Revenue 3.000%  3/15/41        50      42
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/41       550     597
  New York State Dormitory Authority Income Tax Revenue 3.000%  3/15/42       205     171
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/42         5       5
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/42        45      49
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/43        15      15
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/43       200     217
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/44       135     131
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/44       100     108
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  3/15/25       105     105
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  3/15/25        50      50
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  3/15/26        10      10
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  3/15/28        65      70
  New York State Dormitory Authority Income Tax Revenue, ETM 5.000%  2/15/29        75      82
  New York State Dormitory Authority Income Tax Revenue, Prere. 5.000%  8/15/26       170     176
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/26        50      52
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/27        50      53
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/31       100     113
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/32       100     114
  New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  3/15/33       165     190
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/34       100     112
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/38        80      88
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/29        40      41
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/31        65      67
2 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/33        50      55
2 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/34        75      82
1 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Revenue Bond Financing Program) 5.000%  10/1/36        50      55
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  3/15/28       130     139
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  1/15/30        35      37
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  1/15/31       115     121
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  3/15/31       100     112
  New York State Dormitory Authority Lease (Appropriation) Revenue 4.000%  3/15/40       105     105
  New York State Dormitory Authority Lease (Appropriation) Revenue 4.000%  3/15/43        45      44
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/27       100     105
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/30       100     111
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/31        50      53
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/32       135     142
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/33        75      80
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/33       210     221
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/33        75      78
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/34       145     154
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/34       150     158
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/35       100     104
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/35       100     106
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/37       100     115
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/38       480     500
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/40       140     146
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/41        95      99
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/43       500     514
  New York State Dormitory Authority Sales Tax Revenue 4.000%  3/15/44        25      24
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/44        65      67
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/44       100     109
  New York State Dormitory Authority Sales Tax Revenue, ETM 5.000%  3/15/25       240     241
  New York State Dormitory Authority Sales Tax Revenue, ETM 5.000%  3/15/25       205     206
  New York State Dormitory Authority Sales Tax Revenue, Prere. 5.000%  9/15/25       120     122
  New York State Dormitory Authority Sales Tax Revenue, Prere. 5.000%  3/15/27       150     157
  New York State Environmental Facilities Corp. Water Revenue 5.000%  6/15/30       155     172
  New York State Environmental Facilities Corp. Water Revenue 5.000%  6/15/33       160     185
  New York State Environmental Facilities Corp. Water Revenue 5.000%  6/15/39        20      23
  New York State Environmental Facilities Corp. Water Revenue 3.000%  6/15/40       175     157
  New York State Environmental Facilities Corp. Water Revenue 5.000%  6/15/42        20      21
  New York State Thruway Authority Highway Revenue 5.000%   1/1/31       500     560
  New York State Thruway Authority Highway Revenue 5.000%   1/1/33       205     215
  New York State Thruway Authority Highway Revenue 5.000%   1/1/34        50      58
  New York State Thruway Authority Highway Revenue 5.000%   1/1/35     1,030   1,077
  New York State Thruway Authority Highway Revenue 5.000%   1/1/37        75      86
  New York State Thruway Authority Highway Revenue 5.000%   1/1/41       100     101
  New York State Thruway Authority Highway Revenue 5.000%   1/1/42       100     110
  New York State Thruway Authority Highway Revenue 5.000%   1/1/43        60      65
  New York State Thruway Authority Highway Revenue 5.000%   1/1/44        50      54
  New York State Thruway Authority Income Tax Revenue 5.000%  3/15/35        60      67
  New York State Thruway Authority Income Tax Revenue 5.000%  3/15/37       100     111
  New York State Thruway Authority Income Tax Revenue 5.000%  3/15/39        75      82
  New York State Thruway Authority Income Tax Revenue 5.000%  3/15/41        60      65
  New York State Thruway Authority Lease (Appropriation) Revenue 5.000%  3/15/26       150     154
  New York State Thruway Authority Lease (Appropriation) Revenue 5.000%  3/15/31        50      56
  New York State Thruway Authority Lease (Appropriation) Revenue 5.000%  3/15/35        60      66
  New York State Thruway Authority Lease (Appropriation) Revenue 4.000%  3/15/37        40      41
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 10/15/27       100     101
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  7/15/34        25      28
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 10/15/35        60      61
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%   9/1/36       100     116
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%   9/1/38       100     114
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%   5/1/40       320     321
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000% 12/15/40        20      20
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  7/15/41       150     151
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  7/15/41        85      95
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 10/15/41       500     503
  Suffolk County Water Authority Water Revenue 4.000%   6/1/31        70      70
  Suffolk County Water Authority Water Revenue 3.000%   6/1/32        50      50
  Suffolk County Water Authority Water Revenue 3.250%   6/1/43        55      49
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/25        95      97
  Triborough Bridge & Tunnel Authority Highway Revenue 0.000% 11/15/29        90      76
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/30       235     246
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/33       110     115
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/35       100     113
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/37       110     114
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/38       170     176
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/40        70      77
  Triborough Bridge & Tunnel Authority Highway Revenue 4.000% 11/15/41       150     149
  Triborough Bridge & Tunnel Authority Highway Revenue 4.000% 11/15/42       230     227
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/42       115     119
  Triborough Bridge & Tunnel Authority Highway Revenue 4.000% 11/15/43        55      54
  Triborough Bridge & Tunnel Authority Highway Revenue BAN 5.000%  11/1/25       255     259
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/25       190     193
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/26       185     191
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/26        75      78
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/27        95     100
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/28       105     113
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/30       205     228
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/31       100     112
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/32       215     246
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/33        70      81
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/33       100     116
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 4.000% 11/15/35        25      26
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/35       200     233
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/36       200     231
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/38       105     120
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000% 11/15/41       175     192
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  12/1/41       250     278
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  12/1/42       250     275
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/44        30      32
  Triborough Bridge & Tunnel Authority Sales Tax Revenue 5.000%  5/15/43        25      27
  Utility Debt Securitization Authority Electric Power & Light Revenue 3.000% 12/15/32       295     290
  Utility Debt Securitization Authority Electric Power & Light Revenue 4.000% 12/15/37       100     100
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000% 12/15/37       280     284
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000% 12/15/40        15      16
                                74,868
North Carolina (0.9%)
  Charlotte NC Airport Port, Airport & Marina Revenue 4.000%   7/1/44       355     351
  Guilford County NC GO 5.000%   3/1/25        15      15
  New Hanover County NC Health, Hospital, Nursing Home Revenue, Prere. 5.000%  10/1/27        70      74
  North Carolina Appropriations Revenue 5.000%   6/1/26        55      57
  North Carolina Appropriations Revenue 5.000%   5/1/27       340     357
  North Carolina Appropriations Revenue 4.000%   5/1/33        75      77
  North Carolina Appropriations Revenue (Build NC Programs) 5.000%   5/1/25       110     111
  North Carolina Appropriations Revenue (Build NC Programs) 5.000%   5/1/27       175     184
  North Carolina Appropriations Revenue (Build NC Programs) 5.000%   5/1/30        50      55
  North Carolina Appropriations Revenue (Build NC Programs) 5.000%   5/1/32        40      44
  North Carolina Appropriations Revenue (Build NC Programs) 5.000%   5/1/33        65      71
  North Carolina Appropriations Revenue (Build NC Programs) 2.000%   5/1/35        50      41
  North Carolina GO 5.000%   6/1/29       320     349
  North Carolina Government Fund/Grant Revenue 5.000%   3/1/30       100     108
  North Carolina Government Fund/Grant Revenue 5.000%   3/1/31        25      27
  North Carolina Government Fund/Grant Revenue 5.000%   3/1/32        75      80
  North Carolina Government Fund/Grant Revenue 5.000%   3/1/33        80      86
  North Carolina Government Fund/Grant Revenue 5.000%   3/1/34       125     133
  North Carolina Municipal Power Agency No. 1 Electric Power & Light Revenue 5.000%   1/1/26        25      25
  North Carolina Municipal Power Agency No. 1 Electric Power & Light Revenue 5.000%   1/1/28       110     112
  North Carolina Turnpike Authority Government Fund/Grant Revenue 0.000%   1/1/40       400     210
  North Carolina Turnpike Authority Government Fund/Grant Revenue 0.000%   1/1/42       300     141
  North Carolina Turnpike Authority Government Fund/Grant Revenue 0.000%   1/1/43       300     134
  North Carolina Turnpike Authority Highway Revenue 5.000%   1/1/44        10      10
  Wake County NC GO 5.000%   3/1/25       310     310
                                 3,162
North Dakota (0.1%)
  Cass County Joint Water Resource District Intergovernmental Agreement Revenue 3.450%   4/1/27       255     254
Ohio (1.4%)
  American Municipal Power Inc. Electric Power & Light Revenue (AMP Fremont Energy Center Project) 4.000%  2/15/42       175     170
  American Municipal Power Inc. Electric Power & Light Revenue (Fremont Energy Center Project) 5.000%  2/15/35        80      87
  American Municipal Power Inc. Electric Power & Light Revenue (Prairie State Energy Campus Project) 5.000%  2/15/25        50      50
  American Municipal Power Inc. Electric Power & Light Revenue (Prairie State Energy Campus Project) 5.000%  2/15/35        35      38
  American Municipal Power Inc. Electric Power & Light Revenue (Prairie State Energy Campus Project) 4.000%  2/15/36        30      30
  American Municipal Power Inc. Electric Power & Light Revenue (Prairie State Energy Campus Project) 5.000%  2/15/38        70      78
8 Hamilton County OH Sales Tax Revenue 0.000%  12/1/28       155     136
  Hamilton County OH Sales Tax Revenue 5.000%  12/1/30       250     259
  Northeast Ohio Regional Sewer District Sewer Revenue 3.250% 11/15/40        55      49
  Northeast Ohio Regional Sewer District Sewer Revenue 4.000% 11/15/43       250     246
  Ohio GO 5.000%   8/1/25        80      81
  Ohio GO 5.000%  9/15/25        85      86
  Ohio GO 5.000%   8/1/27        75      79
  Ohio Government Fund/Grant Revenue 5.000% 12/15/27       125     133
  Ohio State University College & University Revenue 5.000%  12/1/33        85      97
  Ohio State University College & University Revenue 3.000%  12/1/44        40      32
  Ohio Turnpike & Infrastructure Commission Highway Revenue 5.000%  2/15/30        75      82
  Ohio Turnpike & Infrastructure Commission Highway Revenue 4.000%  2/15/32        80      82
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Ohio Turnpike & Infrastructure Commission Highway Revenue 5.000%  2/15/33        55      58
  Ohio Turnpike & Infrastructure Commission Highway Revenue 0.000%  2/15/36        55      36
  Ohio Turnpike & Infrastructure Commission Highway Revenue 0.000%  2/15/38        70      42
  Ohio University College & University Revenue 5.000%  12/1/44       250     256
  Ohio Water Development Authority Water Pollution Control Loan Fund Lease Revenue 5.000%  12/1/37       215     230
  Ohio Water Development Authority Water Pollution Control Loan Fund Lease Revenue 5.000%  12/1/44       105     110
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/25       165     168
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/25       140     143
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/26       160     167
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/27       255     268
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%   6/1/33       100     110
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/33       220     254
  Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue 5.000%  12/1/35       100     116
  Ohio Water Development Authority Water Revenue 5.000%   6/1/28        35      37
  Ohio Water Development Authority Water Revenue 5.000%  12/1/28       145     157
  Ohio Water Development Authority Water Revenue 5.000%   6/1/29       125     136
  Ohio Water Development Authority Water Revenue 5.000%  12/1/29        85      93
  Ohio Water Development Authority Water Revenue 5.000%  12/1/33       385     442
  Ohio Water Development Authority Water Revenue 5.000%  12/1/44       100     109
  Rickenbacker Port Authority Miscellaneous Revenue 5.375%   1/1/32       160     176
                                 4,923
Oklahoma (1.0%)
  Canadian County Educational Facilities Authority Lease (Appropriation) Revenue (Mustang Public School Project) 3.000%   9/1/29        40      39
  Cleveland County Educational Facilities Authority Lease (Appropriation) Revenue (Moore Public Schools Project) 4.000%   6/1/27       115     118
  Grand River Dam Authority Electric Power & Light Revenue 5.000%   6/1/26       125     128
  Grand River Dam Authority Electric Power & Light Revenue 5.000%   6/1/28        30      31
  Grand River Dam Authority Electric Power & Light Revenue 5.000%   6/1/31       170     176
  Grand River Dam Authority Electric Power & Light Revenue 4.000%   6/1/33        15      15
  Grand River Dam Authority Electric Power & Light Revenue 5.000%   6/1/35       100     114
  Grand River Dam Authority Electric Power & Light Revenue 5.000%   6/1/39       100     111
  Oklahoma County Independent School District No. 89 Oklahoma City GO 3.000%   7/1/25       405     406
  Oklahoma County Independent School District No. 89 Oklahoma City GO 1.250%   7/1/26       500     490
  Oklahoma County Independent School District No. 89 Oklahoma City GO 4.000%   7/1/27        75      77
  Oklahoma Industries Authority Lease (Appropriation) Revenue (Oklahoma City Public School Project) 5.000%   4/1/29       120     129
  Oklahoma Industries Authority Lease (Appropriation) Revenue (Oklahoma City Public School Project) 5.000%   4/1/31        65      72
  Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/26       280     285
  Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/27        70      73
  Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/30        85      93
  Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/37        45      46
5 Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/37       210     242
5 Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/41       250     279
  Oklahoma Turnpike Authority Highway Revenue 4.000%   1/1/42        90      90
5 Oklahoma Turnpike Authority Highway Revenue 5.000%   1/1/45       250     271
  Tulsa Public Facilities Authority Intergovernmental Agreement Revenue 5.000%   6/1/25       200     201
                                 3,486
Oregon (0.5%)
  Clackamas County School District No. 12 North Clackamas GO 0.000%  6/15/36       190     116
  Deschutes Public Library District GO 3.000%  12/1/41        15      13
  Multnomah County OR GO 5.000%  6/15/28        40      43
  Multnomah County OR School District No. 1 Portland GO 5.000%  6/15/25        95      96
  Multnomah County School District No. 40 GO 0.000%  6/15/43        75      31
  Oregon (Articale XI-Q State Projects) GO 5.000%   5/1/34       257     293
  Oregon (Articale XI-Q State Projects) GO 5.000%   5/1/37       235     265
  Oregon Department of Transportation Fuel Sales Tax Revenue 5.000% 11/15/35        20      21
  Oregon Department of Transportation Fuel Sales Tax Revenue 5.000% 11/15/36        50      54
  Oregon Department of Transportation Fuel Sales Tax Revenue 4.000% 11/15/39       350     354
  Oregon Department of Transportation Fuel Sales Tax Revenue 4.000% 11/15/42        25      25
  Oregon Department of Transportation Miscellaneous Revenue 5.000% 11/15/31        65      73
  Oregon Department of Transportation Miscellaneous Revenue 5.000% 11/15/34       100     116
  Oregon State Lottery Revenue 5.000%   4/1/27       255     256
  Oregon State Lottery Revenue 5.000%   4/1/29        15      15
  Oregon Tri-County Metropolitan Transportation Miscellaneous Taxes Revenue, Prere. 5.000%   9/1/27        10      11
  Washington & Multnomah Counties School District No. 48J Beaverton GO 5.000%  6/15/35        85      88
  Washington & Multnomah Counties School District No. 48J Beaverton GO 5.000%  6/15/36        10      10
                                 1,880
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
Pennsylvania (3.7%)
  Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/28        45      48
  Allegheny County PA GO 5.000%  11/1/29       125     129
  Commonwealth of Pennsylvania GO 5.000%  8/15/25       505     511
  Commonwealth of Pennsylvania GO 5.000%   9/1/25       170     172
  Commonwealth of Pennsylvania GO 5.000%  9/15/25       200     203
  Commonwealth of Pennsylvania GO 5.000%   9/1/26        50      52
  Commonwealth of Pennsylvania GO 5.000%   1/1/27       265     276
  Commonwealth of Pennsylvania GO 5.000%  9/15/27       105     109
  Commonwealth of Pennsylvania GO 5.000%   1/1/28       330     342
  Commonwealth of Pennsylvania GO 5.000%   3/1/28       270     287
  Commonwealth of Pennsylvania GO 5.000%  7/15/28        35      38
  Commonwealth of Pennsylvania GO 5.000%   9/1/28        25      27
  Commonwealth of Pennsylvania GO 5.000%  10/1/28        20      22
  Commonwealth of Pennsylvania GO 4.000%   1/1/29        15      15
  Commonwealth of Pennsylvania GO 5.000%  7/15/29       450     490
1 Commonwealth of Pennsylvania GO 4.000%  8/15/29       110     110
  Commonwealth of Pennsylvania GO 5.000%   9/1/29        25      27
  Commonwealth of Pennsylvania GO 3.000%  3/15/30        55      54
  Commonwealth of Pennsylvania GO 4.000%  9/15/30       405     411
  Commonwealth of Pennsylvania GO 5.000%  10/1/30       370     411
  Commonwealth of Pennsylvania GO 5.000%   9/1/32       370     421
  Commonwealth of Pennsylvania GO 4.000%  9/15/32       300     304
  Commonwealth of Pennsylvania GO 4.000%   5/1/33        80      84
  Commonwealth of Pennsylvania GO 4.000%  8/15/33        75      75
  Commonwealth of Pennsylvania GO 5.000%   9/1/33        50      57
1 Commonwealth of Pennsylvania GO 3.000%  9/15/33       110     106
  Commonwealth of Pennsylvania GO 4.000%  3/15/34       310     310
  Commonwealth of Pennsylvania GO 5.000%   9/1/34        75      86
  Commonwealth of Pennsylvania GO 4.000%  9/15/34       150     152
1 Commonwealth of Pennsylvania GO 3.000%   2/1/35       105     101
  Commonwealth of Pennsylvania GO 4.000%  8/15/35        55      55
  Commonwealth of Pennsylvania GO 3.000%  9/15/36       140     128
  Commonwealth of Pennsylvania GO 5.000%  10/1/36        85      95
  Commonwealth of Pennsylvania GO 4.000%   3/1/37       165     166
  Commonwealth of Pennsylvania GO 2.000%  5/15/37        45      36
  Commonwealth of Pennsylvania GO 2.000%  5/15/38        15      12
  Commonwealth of Pennsylvania GO 2.125%   5/1/40       105      80
  Commonwealth of Pennsylvania GO 4.000%  8/15/40        10      10
  Commonwealth of Pennsylvania GO 4.000%  8/15/41        60      60
  Commonwealth of Pennsylvania GO 5.000%  10/1/42        50      55
  Commonwealth of Pennsylvania GO 4.000%  8/15/43       100      98
  Delaware River Joint Toll Bridge Commission Highway Revenue 5.000%   7/1/42       135     138
  Delaware River Port Authority Highway Revenue 5.000%   1/1/39       210     221
  Delaware Valley Regional Finance Authority Indirect Ad Valorem Property Revenue 5.750%   7/1/32       105     121
8 Delaware Valley Regional Finance Authority Lease Revenue 5.500%   8/1/28       300     324
  Northampton County General Purpose Authority College & University Revenue 5.000% 11/15/34        65      75
5 Pennsylvania Higher Educational Facilities Authority College & University Revenue 5.000%  2/15/35        55      64
  Pennsylvania Higher Educational Facilities Authority College & University Revenue 4.000%  8/15/41        75      75
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/25       195     196
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/27       105     108
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/30       175     180
  Pennsylvania Turnpike Commission Highway Revenue 6.000%  12/1/30       100     107
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/33       100     113
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/34       525     600
  Pennsylvania Turnpike Commission Highway Revenue 4.000%  12/1/34        85      86
  Pennsylvania Turnpike Commission Highway Revenue 4.000%  12/1/35        50      50
1 Pennsylvania Turnpike Commission Highway Revenue 4.000%   6/1/37       125     126
1 Pennsylvania Turnpike Commission Highway Revenue 4.000%  12/1/37        15      15
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/37        30      31
  Pennsylvania Turnpike Commission Highway Revenue 4.000%   6/1/38        90      90
  Pennsylvania Turnpike Commission Highway Revenue 4.000%   6/1/39       210     210
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/40        50      52
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/40       120     120
  Pennsylvania Turnpike Commission Highway Revenue 3.375%  12/1/41        65      59
  Pennsylvania Turnpike Commission Highway Revenue 4.000%  12/1/41       435     427
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/41        75      76
  Pennsylvania Turnpike Commission Highway Revenue 5.000%   6/1/42       305     311
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/42        15      15
  Pennsylvania Turnpike Commission Highway Revenue 5.000%  12/1/43       335     349
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Pennsylvania Turnpike Commission Oil Franchise Tax & Business License Fees Revenue 5.250%  12/1/44       500     524
  Philadelphia PA GO 5.000%   8/1/26        55      57
  Philadelphia PA GO 4.000%   8/1/35        50      50
4 Philadelphia PA Water & Wastewater Water Revenue 5.000%   9/1/31       200     223
4 Philadelphia PA Water & Wastewater Water Revenue 5.000%   9/1/34        65      74
4 Philadelphia PA Water & Wastewater Water Revenue 5.000%   9/1/38        85      96
  Philadelphia PA Water & Wastewater Water Revenue 5.000%  11/1/44       145     150
1 Pittsburgh Water & Sewer Authority Water Revenue 5.000%   9/1/32       175     198
1 Pittsburgh Water & Sewer Authority Water Revenue 5.000%   9/1/33       105     120
  School District of Philadelphia GO 5.000%   9/1/25       100     101
2 School District of Philadelphia GO 5.000%   9/1/25        10      10
6 School District of Philadelphia GO 5.000%   6/1/34        50      56
1 School District of Philadelphia GO 4.000%   9/1/43       485     476
1 School District of Philadelphia GO 3.000%   9/1/44        80      65
1 State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/29        75      81
1 State Public School Building Authority Lease (Non-Terminable) Revenue 5.000%   6/1/32        85      88
  University of Pittsburgh-of the Commonwealth System of Higher Education College & University Revenue 4.000%  4/15/26       310     314
2 Westmoreland County Municipal Authority Water Revenue 5.000%  8/15/42        35      35
                                13,282
Rhode Island (0.4%)
  Rhode Island Commerce Corp. Government Fund/Grant Revenue 5.000%  6/15/26       285     293
  Rhode Island Commerce Corp. Government Fund/Grant Revenue 5.000%  6/15/27       245     252
  Rhode Island Commerce Corp. Government Fund/Grant Revenue 5.000%  6/15/29       225     231
  Rhode Island Commerce Corp. Government Fund/Grant Revenue 5.000%  6/15/30       180     184
  Rhode Island Commerce Corp. Government Fund/Grant Revenue 5.000%  6/15/31       120     123
  Rhode Island Health & Educational Building Corp. College & University Revenue 5.000%   9/1/29       150     158
  Rhode Island Health & Educational Building Corp. College & University Revenue 4.000%   9/1/37       155     156
                                 1,397
South Carolina (0.6%)
  Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) 5.000%  12/1/26       365     379
  Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) 5.000%  12/1/28        95     102
  Columbia SC Waterworks & Sewer System Water Revenue 4.000%   2/1/41       350     350
  Greenville County School District Lease (Appropriation) Revenue (SC Project) 5.000%  12/1/28       125     135
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/32       105     114
  South Carolina Public Service Authority Electric Power & Light Revenue 4.000%  12/1/34        30      30
  South Carolina Public Service Authority Electric Power & Light Revenue 4.000%  12/1/40       250     246
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/41       150     163
  South Carolina Public Service Authority Electric Power & Light Revenue 4.000%  12/1/42        70      68
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/43       265     279
  South Carolina Public Service Authority Electric Power & Light Revenue 5.000%  12/1/43        50      54
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/33        10      10
  South Carolina Public Service Authority Nuclear Revenue 5.000%  12/1/34        60      61
  South Carolina Transportation Infrastructure Bank Miscellaneous Revenue 5.000%  10/1/26       225     233
  South Carolina Transportation Infrastructure Bank Miscellaneous Revenue 5.000%  10/1/39        95      98
                                 2,322
Tennessee (0.5%)
  Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board College & University Revenue 5.000%  10/1/35       100     115
  Metropolitan Government of Nashville & Davidson County TN Electric Power & Light Revenue 5.000%  5/15/42        25      26
  Metropolitan Government of Nashville & Davidson County TN GO 5.000%   7/1/26        50      52
  Metropolitan Government of Nashville & Davidson County TN GO 5.000%   1/1/27       140     144
  Metropolitan Government of Nashville & Davidson County TN GO 5.000%   1/1/27       180     188
  Metropolitan Government of Nashville & Davidson County TN GO 5.000%   7/1/27        60      63
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   7/1/28        55      56
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   7/1/29        30      31
  Metropolitan Government of Nashville & Davidson County TN GO 5.000%   1/1/30        50      55
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   1/1/31        35      37
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   1/1/32        95     100
  Metropolitan Government of Nashville & Davidson County TN GO 3.000%   1/1/33        75      72
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   7/1/33       190     192
  Metropolitan Government of Nashville & Davidson County TN GO 3.000%   1/1/34        25      23
  Metropolitan Government of Nashville & Davidson County TN GO 4.000%   1/1/39        90      92
  Metropolitan Government of Nashville & Davidson County TN GO 5.000%   1/1/41       200     220
  Metropolitan Government of Nashville & Davidson County TN GO 5.000%   1/1/42       160     175
  Metropolitan Nashville Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/44       100     104
                                 1,745
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
Texas (11.1%)
  Alamo Community College District GO 5.000%  2/15/26        50      51
  Alamo Community College District GO 5.000%  2/15/28       375     399
9 Aldine Independent School District GO 5.000%  2/15/45       100     102
9 Arlington Higher Education Finance Corp. Charter School Aid Revenue 4.000%  2/15/44       100      96
9 Arlington Higher Education Finance Corp. Charter School Aid Revenue 4.000%  8/15/44        90      86
1 Arlington TX Special Tax Revenue 4.000%  2/15/44       205     199
  Austin Community College District GO 4.000%   8/1/40        50      49
  Austin Independent School District GO 5.000%   8/1/25        85      86
9 Austin Independent School District GO 5.000%   8/1/37        75      85
9 Austin Independent School District GO 5.000%   8/1/41        10      11
9 Austin Independent School District GO 5.000%   8/1/42         5       5
  Austin TX GO 5.000%   9/1/34        50      58
9 Barbers Hill Independent School District GO 4.000%  2/15/41       180     181
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/27        95     100
5 Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/27       100     105
5 Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/28       100     107
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/29       225     246
5 Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/29       100     109
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/30        65      72
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/31       255     287
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/31        55      62
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/32       265     286
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/35       350     408
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/39        20      23
  Board of Regents of the University of Texas System College & University Revenue 5.000%  8/15/39       200     225
  Central Texas Regional Mobility Authority Highway Revenue 3.375%   1/1/41        70      62
  Central Texas Regional Mobility Authority Highway Revenue 4.000%   1/1/44        70      67
  Central Texas Regional Mobility Authority Highway Revenue, Prere. 5.000%   7/1/25        15      15
  Central Texas Turnpike System Highway Revenue 5.000%  8/15/32       375     421
  Central Texas Turnpike System Highway Revenue 5.000%  8/15/35        85      97
  Central Texas Turnpike System Highway Revenue 5.000%  8/15/37       215     242
  Central Texas Turnpike System Highway Revenue 5.000%  8/15/37       245     275
  Central Texas Turnpike System Highway Revenue 5.000%  8/15/39        25      27
  Central Texas Turnpike System Highway Revenue 5.000%  8/15/41        40      44
  Central Texas Turnpike System Highway Revenue PUT 5.000%  8/15/30        35      37
9 Clear Creek Independent School District GO 5.000%  2/15/31        80      89
  Clifton Higher Education Finance Corp. Charter School Aid Revenue 6.000%  8/15/38        50      50
9 Clifton Higher Education Finance Corp. Charter School Aid Revenue 4.000%  8/15/42        20      20
9 Clifton Higher Education Finance Corp. Charter School Aid Revenue 4.000%  8/15/44       100      96
9 Conroe Independent School District GO 5.000%  2/15/37        65      74
9 Conroe Independent School District GO 5.000%  2/15/38       100     113
9 Conroe Independent School District GO 5.000%  2/15/39       110     123
9 Cypress-Fairbanks Independent School District GO 5.000%  2/15/25       120     120
9 Cypress-Fairbanks Independent School District GO 5.000%  2/15/26       150     153
9 Cypress-Fairbanks Independent School District GO 5.000%  2/15/27       105     107
9 Cypress-Fairbanks Independent School District GO 5.000%  2/15/27       150     157
9 Cypress-Fairbanks Independent School District GO 5.000%  2/15/28        50      51
9 Cypress-Fairbanks Independent School District GO 4.000%  2/15/32       115     115
8 Dallas Area Rapid Transit Sales Tax Revenue 5.250%  12/1/28       300     325
  Dallas Area Rapid Transit Sales Tax Revenue 5.000%  12/1/29       125     137
8 Dallas Area Rapid Transit Sales Tax Revenue 5.250%  12/1/29        50      55
  Dallas Area Rapid Transit Sales Tax Revenue 5.000%  12/1/31        55      60
  Dallas Area Rapid Transit Sales Tax Revenue, Prere. 5.000%  12/1/25       100     102
  Dallas Area Rapid Transit Sales Tax Revenue, Prere. 5.000%  12/1/25       110     112
  Dallas Area Rapid Transit Sales Tax Revenue, Prere. 5.000%  12/1/25       315     321
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/28       240     258
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/32        40      44
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/33        55      60
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 4.000%  11/1/34       150     153
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/35       150     171
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/40        15      16
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/40       100     111
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/43       100     105
  Dallas Fort Worth International Airport Port, Airport & Marina Revenue 5.000%  11/1/44       100     108
9 Dallas Independent School District GO 3.000%  2/15/35        50      46
5,9 Dallas Independent School District GO PUT 5.000%  2/15/28       170     178
5,9 Dallas Independent School District GO PUT 5.000%  2/15/29        15      16
5,9 Dallas Independent School District GO PUT 5.000%  2/15/30        15      16
5,9 Dallas Independent School District GO PUT 5.000%  2/15/31        40      44
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Dallas TX GO 5.000%  2/15/25       105     105
  Dallas TX GO 5.000%  2/15/26       225     230
  Dallas TX GO 5.000%  2/15/28       200     212
  Dallas TX GO 5.000%  2/15/31        65      72
1 Dallas TX GO 3.125%  2/15/35        90      84
  Dallas TX Waterworks & Sewer System Water Revenue 5.000%  10/1/26        70      71
  Dallas TX Waterworks & Sewer System Water Revenue 5.000%  10/1/29       150     154
  Dallas TX Waterworks & Sewer System Water Revenue 5.000%  10/1/31       180     185
9 Denton Independent School District GO 5.000%  8/15/38       175     195
9 Denton Independent School District GO 5.000%  8/15/43        95     103
9 Denton Independent School District GO, Prere. 5.000%  8/15/25       210     212
  El Paso TX GO 4.000%  8/15/42        60      58
  El Paso TX GO 4.000%  8/15/44       190     182
9 Fort Bend Independent School District GO PUT 4.000%   8/1/27       105     107
9 Frisco Independent School District GO 5.000%  8/15/36        80      85
9 Garland Independent School District GO 5.000%  2/15/26        80      82
9 Garland Independent School District GO 5.000%  2/15/34       185     210
9 Garland Independent School District GO 5.000%  2/15/35       175     198
9 Garland Independent School District GO 5.000%  2/15/40        30      33
9 Garland Independent School District GO 5.000%  2/15/41       150     163
  Grand Parkway Transportation Corp. Highway Revenue 5.000%  10/1/35       115     120
  Grand Parkway Transportation Corp. Highway Revenue 5.000%  10/1/38        75      78
  Grand Parkway Transportation Corp. Highway Revenue 5.000%  10/1/43       295     303
  Harris County Flood Control District GO 5.000%  10/1/32        55      62
  Harris County Flood Control District Intergovernmental Agreement Revenue 5.000%  10/1/25        50      50
  Harris County TX Highway Revenue 5.000%  8/15/25       180     182
  Harris County TX Highway Revenue 5.000%  8/15/31       240     247
  Harris County TX Toll Road Highway Revenue 5.000%  8/15/32       115     121
  Harris County TX Toll Road Highway Revenue 5.000%  8/15/33       155     175
  Harris County TX Toll Road Highway Revenue 4.000%  8/15/43       100      97
  Harris County TX Toll Road Highway Revenue 5.000%  8/15/43        40      41
4 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue 5.000% 11/15/26     1,540   1,592
4 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue 5.000% 11/15/28       510     546
4 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue 5.000% 11/15/30       290     319
4 Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue 5.000% 11/15/38       275     307
  Houston Higher Education Finance Corp. College & University Revenue (Rice University Project) 5.000%  5/15/34       435     501
9 Houston Independent School District GO 5.000%  2/15/26       420     430
9 Houston Independent School District GO 5.000%  2/15/26       360     369
9 Houston Independent School District GO 5.000%  2/15/28        75      78
9 Houston Independent School District GO 4.000%  2/15/37        50      50
  Houston TX Airport System Port, Airport & Marina Revenue 5.000%   7/1/39        25      26
  Houston TX Combined Utility System Water Revenue 4.000% 11/15/31        75      76
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/32        95      97
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/34       300     307
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/35       110     125
  Houston TX Combined Utility System Water Revenue 5.000% 11/15/36        55      56
1 Houston TX Combined Utility System Water Revenue, ETM 0.000%  12/1/28        15      13
  Houston TX GO 5.000%   3/1/25       100     100
  Houston TX GO 5.000%   3/1/26       105     107
  Houston TX GO 5.000%   3/1/27       425     434
  Houston TX GO 5.000%   3/1/29       100     108
8 Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 0.000%   9/1/31        65      50
8 Houston TX Hotel Occupancy Tax & Special Hotel Occupancy Tax Revenue 0.000%   9/1/32        60      44
9 Hurst-Euless-Bedford Independent School District GO 4.000%  8/15/40        25      25
9 Hurst-Euless-Bedford Independent School District GO 5.000%  8/15/43       335     364
9 Hurst-Euless-Bedford Independent School District GO 5.000%  8/15/44       200     217
9 Irving Independent School District GO 5.000%  2/15/43       245     264
9 Lamar Consolidated Independent School District GO 5.000%  2/15/43         5       5
9 Leander Independent School District GO 0.000%  8/16/42       200      90
9 Leander Independent School District GO 0.000%  8/16/43        50      21
  Lewisville Independent School District GO 5.000%  8/15/25       150     152
9 Lewisville Independent School District GO 4.000%  8/15/26        10      10
9 Lewisville Independent School District GO 5.000%  8/15/29       360     393
9 Lewisville Independent School District GO 5.000%  8/15/36       300     340
9 Lewisville Independent School District GO 5.000%  8/15/39        30      33
9 Lewisville Independent School District GO 5.000%  8/15/40       135     150
9 Lewisville Independent School District GO 4.000%  8/15/41        70      70
9 Lewisville Independent School District GO 5.000%  8/15/43       110     120
9 Little Elm Independent School District GO PUT 3.700%  8/15/28       105     105
  Lower Colorado River Authority Intergovernmental Agreement Revenue 5.000%  5/15/31        40      44
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
9 Midland Independent School District GO 4.000%  2/15/41        35      35
  New Hope Cultural Education Facilities Finance Corp. Local or Guaranteed Housing Revenue, Prere. 5.000%   4/1/25       210     211
9 North East TX Independent School District GO 5.250%   2/1/27        15      16
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/26        15      15
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/26       120     122
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/26        50      51
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/26        80      82
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/27        75      78
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/28        90      92
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/29        35      36
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/29       150     152
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/29        20      22
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/30       290     295
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/30       200     203
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/30        20      22
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/31       100     102
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/32       100     111
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/33       155     160
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/35        10      10
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/35        45      52
  North Texas Tollway Authority Highway Revenue 4.000%   1/1/36        10      10
  North Texas Tollway Authority Highway Revenue 4.000%   1/1/36       110     111
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/36       445     499
  North Texas Tollway Authority Highway Revenue 4.000%   1/1/37        15      15
  North Texas Tollway Authority Highway Revenue 4.000%   1/1/38       230     230
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/38       350     369
  North Texas Tollway Authority Highway Revenue 4.000%   1/1/39       140     139
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/39       265     268
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/39        35      36
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/39        50      55
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/40        50      54
  North Texas Tollway Authority Highway Revenue 5.000%   1/1/41        25      27
  North Texas Tollway Authority Highway Revenue 4.000%   1/1/43        35      34
  North Texas Tollway Authority Highway Revenue 4.000%   1/1/44        60      58
  North Texas Tollway Authority Highway Revenue 5.250%   1/1/44        10      11
4 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/30       140     118
4 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/31        35      28
4 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/33        60      45
4 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/35       315     217
4 North Texas Tollway Authority Miscellaneous Revenue 0.000%   1/1/36        15      10
9 Pecos Barstow Toyah Independent School District GO 5.000%  2/15/25       175     175
  Permanent University Fund - University of Texas System College & University Revenue 5.250%   7/1/28       145     156
  Permanent University Fund - University of Texas System College & University Revenue 5.250%   7/1/30       125     140
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/31        55      62
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/33       120     138
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/34       145     162
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/35       135     155
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/36       180     210
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/37       395     450
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/38       225     255
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/38        90     102
  Permanent University Fund - University of Texas System College & University Revenue 4.000%   7/1/41       135     136
  Permanent University Fund - University of Texas System College & University Revenue 5.000%   7/1/42        55      59
  Plano Independent School District GO 5.000%  2/15/25       100     100
5,9 Plano Independent School District GO 5.000%  2/15/26       165     169
5,9 Plano Independent School District GO 5.000%  2/15/31       165     184
5,9 Plano Independent School District GO 5.000%  2/15/32       145     163
5,9 Plano Independent School District GO 5.000%  2/15/33       250     284
  Plano Independent School District GO 5.000%  2/15/34        35      39
  Plano Independent School District GO 5.000%  2/15/37        55      61
  Plano Independent School District GO 5.000%  2/15/38        20      22
  Plano Independent School District GO 5.000%  2/15/41       150     163
  Plano Independent School District GO 5.000%  2/15/43        55      59
9 Round Rock Independent School District GO 5.000%   8/1/30        55      60
9 Round Rock Independent School District GO 4.000%   8/1/32        60      62
9 Round Rock Independent School District GO 2.750%   8/1/34       275     248
  San Antonio Public Facilities Corp. Lease (Appropriation) Revenue (Convention Center Facilities Program) 4.000%  9/15/42       140     134
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/26       110     112
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/26       240     245
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/27        50      52
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/28       210     222
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/29       155     159
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/30       160     164
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 4.000%   2/1/34       160     161
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/34        65      70
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/36        70      75
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.000%   2/1/42       235     256
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.250%   2/1/42       105     116
  San Antonio TX Electric & Gas Systems Electric Power & Light Revenue 5.250%   2/1/43       100     111
  San Antonio Water System Water Revenue 5.000%  5/15/34        50      51
  San Jacinto Community College District GO 4.000%  2/15/41       125     122
  Smith County TX GO 5.000%  8/15/43        10      11
9 Socorro Independent School District GO 5.000%  8/15/43       350     357
9 Spring Branch Independent School District GO 5.000%   2/1/25       100     100
9 Spring Branch Independent School District GO 5.000%   2/1/26       180     184
  Tarrant Regional Water District Water Supply System Water Revenue 5.000%   3/1/30        90      99
  Tarrant Regional Water District Water Supply System Water Revenue 5.000%   3/1/33       225     256
  Texas A&M University College & University Revenue 5.000%  5/15/28        50      52
  Texas Department of Transportation State Highway Fund Fuel Sales Tax Revenue 5.000%  10/1/25       110     112
  Texas Department of Transportation State Highway Fund Fuel Sales Tax Revenue 5.000%  10/1/25        60      61
  Texas Department of Transportation State Highway Fund Fuel Sales Tax Revenue 5.000%  10/1/32       100     113
  Texas Department of Transportation State Highway Fund Fuel Sales Tax Revenue 5.000%  10/1/33       275     315
  Texas GO 5.000%  10/1/27       325     329
  Texas GO 5.000%  10/1/29        35      35
  Texas GO 5.000%  10/1/30       155     162
  Texas GO 5.000%  10/1/31       255     258
  Texas GO 5.000%  10/1/33       115     120
  Texas GO 4.000%  10/1/36        50      50
  Texas GO 5.000%  10/1/36        50      51
  Texas Private Activity Bond Surface Transportation Corp. Highway Revenue (North Tarrant Express Managed Lanes Project) 4.000% 12/31/38       420     418
  Texas Private Activity Bond Surface Transportation Corp. Highway Revenue (North Tarrant Express Managed Lanes Project) 4.000% 12/31/39        95      94
1 Texas State Technical College & University Revenue 5.500%   8/1/42        95     105
  Texas State University System College & University Revenue 5.000%  3/15/27       200     209
  Texas State University System College & University Revenue 5.000%  3/15/28       155     162
  Texas State University System College & University Revenue 5.000%  3/15/29        50      52
  Texas State University System College & University Revenue 5.000%  3/15/31        40      41
  Texas Transportation Commission GO 5.000%   4/1/27       110     115
  Texas Transportation Commission GO 5.000%   4/1/29       285     309
  Texas Transportation Commission GO 5.000%   4/1/31       105     118
  Texas Transportation Commission GO 5.000%   4/1/33       250     286
  Texas Transportation Commission GO 5.000%   4/1/34       150     172
  Texas Water Development Board Water Revenue 5.000%  4/15/29        50      53
  Texas Water Development Board Water Revenue 5.000% 10/15/31       100     105
  Texas Water Development Board Water Revenue 4.000% 10/15/32       170     173
  Texas Water Development Board Water Revenue 4.000% 10/15/32       205     206
  Texas Water Development Board Water Revenue 3.000% 10/15/33       230     221
  Texas Water Development Board Water Revenue 3.000% 10/15/34       280     266
  Texas Water Development Board Water Revenue 4.000% 10/15/34       190     193
  Texas Water Development Board Water Revenue 3.000% 10/15/35       290     272
  Texas Water Development Board Water Revenue 4.000% 10/15/35        95      96
  Texas Water Development Board Water Revenue 4.000% 10/15/36       355     359
  Texas Water Development Board Water Revenue 4.000% 10/15/36        60      61
  Texas Water Development Board Water Revenue 4.000% 10/15/36        80      81
  Texas Water Development Board Water Revenue 4.000% 10/15/37       110     112
  Texas Water Development Board Water Revenue 4.000% 10/15/37        40      40
  Texas Water Development Board Water Revenue 4.500% 10/15/37        50      53
  Texas Water Development Board Water Revenue 5.000% 10/15/37       110     124
  Texas Water Development Board Water Revenue 4.000% 10/15/38         5       5
  Texas Water Development Board Water Revenue 5.000% 10/15/38        40      42
  Texas Water Development Board Water Revenue 5.000% 10/15/38        95     107
  Texas Water Development Board Water Revenue 4.600% 10/15/39       110     116
  Texas Water Development Board Water Revenue 4.000% 10/15/40       140     138
  Texas Water Development Board Water Revenue 5.000% 10/15/40        85      86
  Texas Water Development Board Water Revenue 5.000% 10/15/40       215     242
  Texas Water Development Board Water Revenue 5.000%   8/1/41        90      98
  Texas Water Development Board Water Revenue 4.000% 10/15/41       300     295
  Texas Water Development Board Water Revenue 4.700% 10/15/41        65      69
  Texas Water Development Board Water Revenue 4.750% 10/15/42        40      42
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Texas Water Development Board Water Revenue 4.000% 10/15/43       130     126
  Texas Water Development Board Water Revenue 4.000% 10/15/43       250     246
  University of Houston College & University Revenue 5.000%  2/15/42       110     118
  Williamson County TX GO 4.000%  2/15/26       120     122
  Williamson County TX GO 5.000%  2/15/31       160     178
9 Wylie Independent School District GO 3.000%  8/15/44        50      41
9 Ysleta Independent School District GO, Prere. 5.000%  8/15/25       150     152
                                40,235
Utah (1.0%)
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/29       210     225
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/30       285     310
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/31        30      33
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/32        25      27
  Intermountain Power Agency Electric Power & Light Revenue 4.000%   7/1/36        50      51
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/36       205     225
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/37       110     120
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/38        50      54
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/39        85      92
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/40       425     453
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/40        90      97
  Intermountain Power Agency Electric Power & Light Revenue 5.000%   7/1/42       110     117
  Intermountain Power Agency Electric Power & Light Revenue 5.250%   7/1/43        75      81
  University of Utah Local or Guaranteed Housing Revenue 5.000%   8/1/37        70      78
  Utah GO 5.000%   7/1/28       190     204
  Utah GO 5.000%   7/1/30        15      16
  Utah Transit Authority Sales Tax Revenue 0.000% 12/15/32        25      18
  Utah Transit Authority Sales Tax Revenue 5.000%  6/15/35       100     116
  Utah Transit Authority Sales Tax Revenue 5.000%  6/15/39        50      56
  Utah Transit Authority Sales Tax Revenue 5.000%  6/15/39       100     113
  Utah Transit Authority Sales Tax Revenue 4.000% 12/15/41       130     128
  Utah Transit Authority Sales Tax Revenue, Prere. 4.000%  6/15/25       270     271
  Utah Transit Authority Sales Tax Revenue, Prere. 4.000%  6/15/25       260     261
  Utah Transit Authority Sales Tax Revenue, Prere. 4.000%  6/15/25        70      70
  Utah Transit Authority Sales Tax Revenue, Prere. 5.000%  6/15/25       190     192
  Utah Transit Authority Sales Tax Revenue, Prere. 5.000%  6/15/25        55      55
                                 3,463
Vermont (0.0%)
  University of Vermont & State Agricultural College Miscellaneous Revenue 4.000%  10/1/40        65      64
Virginia (1.6%)
  Commonwealth of Virginia GO 5.000%   6/1/27       100     101
  Fairfax County VA GO 4.000%  10/1/27        40      41
  Hampton Roads Sanitation District Sewer Revenue, Prere. 5.000%   8/1/26        15      16
  Hampton Roads Transportation Accountability Commission Sales Tax Revenue, Prere. 5.500%   1/1/28       115     124
  Richmond VA Public Utility Water Revenue, Prere. 5.000%  1/15/26       150     153
  University of Virginia College & University Revenue 5.000%   4/1/38       600     621
  University of Virginia College & University Revenue 5.000%   4/1/42        65      67
  Virginia College Building Authority Appropriations Revenue 5.000%   2/1/25       100     100
  Virginia College Building Authority Appropriations Revenue 3.000%   2/1/33        55      52
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/25       100     100
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/25       150     150
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/26       135     138
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/26       150     153
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/28       405     430
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/29       140     149
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/30        25      26
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/30        45      49
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/31       215     224
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/32        95     107
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/33       120     137
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 3.000%   2/1/35        40      38
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/35        50      57
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/35       140     158
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/36       165     183
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.000%   2/1/37        55      61
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.250%   2/1/41        10      11
  Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) 5.250%   2/1/42        65      72
  Virginia College Building Authority Intergovernmental Agreement Revenue 5.000%   2/1/37        55      62
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Virginia College Building Authority Intergovernmental Agreement Revenue (21st Century College & Equipment Programs) 5.000%   2/1/30       130     143
  Virginia College Building Authority Intergovernmental Agreement Revenue (21st Century College & Equipment Programs) 5.000%   2/1/31        55      61
  Virginia College Building Authority Intergovernmental Agreement Revenue (21st Century College & Equipment Programs) 4.000%   2/1/42        25      25
  Virginia College Building Authority Intergovernmental Agreement Revenue (21st Century College & Equipment Programs) 4.000%   2/1/43        10      10
  Virginia College Building Authority Intergovernmental Agreement Revenue (21st Century College & Equipment Programs) 4.000%   2/1/44       200     196
  Virginia College Building Authority Lease (Appropriation) Revenue (21st Century College & Equipment Program) 3.000%   2/1/36        55      51
  Virginia College Building Authority Lease (Appropriation) Revenue (21st Century College & Equipment Program) 3.000%   2/1/38        10       9
  Virginia College Building Authority Lease (Appropriation) Revenue (21st Century College & Equipment Program) 3.000%   2/1/39        95      84
  Virginia Commonwealth Transportation Board Appropriations Revenue 5.000%  5/15/25        75      75
  Virginia Commonwealth Transportation Board Appropriations Revenue 4.000%  5/15/36        25      25
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Project) 5.000%  5/15/25       150     151
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 5.000%  5/15/29       115     125
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 5.000%  5/15/32        35      40
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 4.000%  5/15/33        60      64
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 5.000%  5/15/33        55      63
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 4.000%  5/15/34        10      11
  Virginia Commonwealth Transportation Board Appropriations Revenue (Transportation Capital Projects) 4.000%  5/15/36        25      26
  Virginia Commonwealth Transportation Board Appropriations Revenue (Virginia Transportation Capital Projects) 5.000%  5/15/30       125     138
  Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN 5.000%  9/15/25        80      81
  Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN 5.000%  9/15/27       135     143
  Virginia Public Building Authority Appropriations Revenue 5.000%   8/1/28        75      79
  Virginia Public Building Authority Appropriations Revenue 4.000%   8/1/35       125     130
  Virginia Public Building Authority Appropriations Revenue 4.000%   8/1/36       155     160
  Virginia Public Building Authority Appropriations Revenue 4.000%   8/1/37        35      36
  Virginia Public Building Authority Appropriations Revenue 5.000%   8/1/37        30      33
  Virginia Public School Authority Intergovernmental Agreement Revenue 5.000%   8/1/25        65      66
  Virginia Public School Authority Intergovernmental Agreement Revenue 5.000%   8/1/26        95      96
  Virginia Small Business Financing Authority College & University Revenue 4.000%  10/1/38       185     179
                                 5,880
Washington (4.4%)
  Central Puget Sound Regional Transit Authority Sales Tax Revenue 5.000%  11/1/28       200     215
  Central Puget Sound Regional Transit Authority Sales Tax Revenue 5.000%  11/1/32        50      56
  Central Puget Sound Regional Transit Authority Sales Tax Revenue 3.000%  11/1/36       175     162
  Central Puget Sound Regional Transit Authority Sales Tax Revenue 5.000%  11/1/36        15      17
  Central Puget Sound Regional Transit Authority Sales Tax Revenue 4.000%  11/1/40       185     188
  Central Puget Sound Regional Transit Authority Sales Tax Revenue 5.000%  11/1/43        45      48
  Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. 4.000%  11/1/25        35      35
  Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. 4.000%  11/1/25       670     676
  Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. 4.000%  11/1/25       630     636
  Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. 5.000%  11/1/25        50      51
  Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. 5.000%  11/1/25       135     137
  Energy Northwest Electric Power & Light Revenue (Subordinate Project) 5.000%   7/1/28       135     136
  Energy Northwest Nuclear Revenue 5.000%   7/1/25        50      50
  Energy Northwest Nuclear Revenue 5.000%   7/1/26       275     277
  Energy Northwest Nuclear Revenue 4.000%   7/1/30       170     179
  Energy Northwest Nuclear Revenue 5.000%   7/1/31        70      78
  Energy Northwest Nuclear Revenue 5.000%   7/1/32        70      74
  Energy Northwest Nuclear Revenue 5.000%   7/1/33        35      37
  Energy Northwest Nuclear Revenue 5.000%   7/1/33       215     216
  Energy Northwest Nuclear Revenue 5.000%   7/1/34       100     104
  Energy Northwest Nuclear Revenue 5.000%   7/1/34        60      68
  Energy Northwest Nuclear Revenue 5.000%   7/1/35       100     113
  Energy Northwest Nuclear Revenue 5.000%   7/1/35       160     174
  Energy Northwest Nuclear Revenue 5.000%   7/1/36        15      16
  Energy Northwest Nuclear Revenue 5.000%   7/1/36        25      28
  Energy Northwest Nuclear Revenue 5.000%   7/1/37       255     272
  Energy Northwest Nuclear Revenue 5.000%   7/1/38       105     106
  Energy Northwest Nuclear Revenue 5.000%   7/1/39       310     332
  Energy Northwest Nuclear Revenue 5.000%   7/1/39        55      61
  Energy Northwest Nuclear Revenue 5.000%   7/1/40        95     103
  Energy Northwest Nuclear Revenue 5.000%   7/1/40       160     178
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Energy Northwest Nuclear Revenue 5.000%   7/1/41       200     215
  Energy Northwest Nuclear Revenue 4.000%   7/1/42       120     119
  Energy Northwest Nuclear Revenue (Project No. 1 Electric Revenue) 5.000%   7/1/33       100     114
  Energy Northwest Nuclear Revenue (Project No. 1) 5.000%   7/1/25       115     116
  Energy Northwest Nuclear Revenue (Project No. 1) 5.000%   7/1/26        85      88
  Energy Northwest Nuclear Revenue (Project No. 1) 5.000%   7/1/26        55      57
  Energy Northwest Nuclear Revenue (Project No. 1) 5.000%   7/1/27        55      58
  Energy Northwest Nuclear Revenue (Project No. 1) 5.000%   7/1/28        65      68
  Energy Northwest Nuclear Revenue (Project No. 3) 5.000%   7/1/28       250     262
  Franklin County School District No. 1 Pasco GO 4.000%  12/1/28       125     130
  Franklin County School District No. 1 Pasco GO 5.500%  12/1/40        15      17
  King & Snohomish Counties School District No. 417 Northshore GO 5.000%  12/1/36        75      79
  King County School District No. 411 Issaquah GO 3.000%  12/1/30       125     121
  King County School District No. 411 Issaquah GO 4.000%  12/1/31        70      71
  King County School District No. 411 Issaquah GO 5.000%  12/1/32        80      83
  King County School District No. 414 Lake Washington GO 4.000%  12/1/28       100     104
  King County WA GO 4.000%   1/1/26       105     106
  King County WA GO 5.000%   1/1/30       105     115
  King County WA GO 4.000%   7/1/30       100     102
  King County WA Sewer Revenue 4.000%   7/1/30       330     334
  Pierce County School District No. 10 Tacoma GO 4.000%  12/1/42       100     100
  Port of Seattle WA Port, Airport & Marina Revenue 5.000%   8/1/31        50      56
  Seattle WA Municipal Light & Power Electric Power & Light Revenue 5.000%   3/1/31        50      56
  Seattle WA Municipal Light & Power Electric Power & Light Revenue 4.000%   7/1/43        15      15
  Seattle WA Municipal Light & Power Electric Power & Light Revenue 4.000%   9/1/44        55      53
  Snohomish County Public Utility District No. 1 Electric System Electric Power & Light Revenue 5.000%  12/1/37       125     126
  Snohomish County School District No. 15 Edmonds GO 5.000%  12/1/40        35      39
  Spokane County School District No. 81 Spokane GO 5.000%  12/1/36       540     575
  Spokane County School District No. 81 Spokane GO 4.000%  12/1/38        55      56
  Tacoma WA Electric System Electric Power & Light Revenue 4.000%   1/1/42       100      98
  University of Washington College & University Revenue 4.000%   6/1/37       110     110
  University of Washington College & University Revenue 4.000%  12/1/41        50      49
  University of Washington College & University Revenue 3.125%   7/1/42       100      83
  Washington GO 5.000%   7/1/25       100     101
  Washington GO 5.000%   7/1/25       100     101
  Washington GO 4.000%   7/1/26        65      66
  Washington GO 5.000%   7/1/27       500     527
  Washington GO 5.000%   8/1/28       180     189
  Washington GO 5.000%   8/1/28       440     463
  Washington GO 5.000%   8/1/28        50      54
  Washington GO 5.000%   7/1/29       200     218
  Washington GO 5.000%   8/1/29        70      76
  Washington GO 5.000%   8/1/30       105     110
  Washington GO 5.000%   8/1/30        40      44
  Washington GO 5.000%   7/1/31        85      86
  Washington GO 5.000%   7/1/31        65      73
  Washington GO 5.000%   7/1/31       185     208
  Washington GO 5.000%   8/1/31        75      84
  Washington GO 5.000%   8/1/31        55      62
  Washington GO 5.000%   7/1/32        50      51
  Washington GO 5.000%   7/1/32        50      51
  Washington GO 5.000%   8/1/32       250     284
  Washington GO 5.000%   7/1/33       120     138
  Washington GO 5.000%   8/1/33       130     133
  Washington GO 5.000%   8/1/33       120     136
  Washington GO 5.000%   2/1/34        50      56
  Washington GO 5.000%   8/1/34       320     333
  Washington GO 5.000%   8/1/34        65      75
  Washington GO 5.000%   8/1/34        55      64
  Washington GO 5.000%   8/1/35        10      11
  Washington GO 5.000%   2/1/36        75      81
  Washington GO 5.000%   2/1/36        35      39
  Washington GO 5.000%   8/1/36       170     193
  Washington GO 5.000%   8/1/36       140     160
  Washington GO 5.000%   8/1/36        90     102
  Washington GO 5.000%   8/1/36       125     140
  Washington GO 5.000%   7/1/37        85      96
  Washington GO 5.000%   8/1/37        25      28
  Washington GO 5.000%   2/1/38        70      75
  Washington GO 5.000%   2/1/38        75      77
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value
($000)
  Washington GO 5.000%   2/1/39        40      42
  Washington GO 5.000%   2/1/39        25      28
  Washington GO 5.000%   8/1/39        45      50
  Washington GO 5.000%   8/1/39       150     169
  Washington GO 5.000%   8/1/39       210     223
  Washington GO 5.000%   2/1/40        60      62
  Washington GO 5.000%   8/1/40       190     209
  Washington GO 5.000%   2/1/41       280     291
  Washington GO 5.000%   8/1/41        20      22
  Washington GO 5.000%   2/1/42       200     212
  Washington GO 5.000%   2/1/42       145     156
  Washington GO 5.000%   2/1/42        50      55
  Washington GO 5.000%   8/1/43       145     155
  Washington GO 5.000%   8/1/43        90      94
  Washington GO 5.000%   8/1/43        75      82
  Washington GO 5.000%   8/1/43       100     108
  Washington GO 5.000%   2/1/44        60      63
  Washington GO 5.000%   2/1/44       100     107
  Washington GO 5.000%   2/1/44        55      60
  Washington GO 5.000%   2/1/44        65      68
  Washington GO 5.000%   8/1/44        35      38
  Whatcom County WA School District No. 501 Bellingham GO 5.000%  12/1/39       120     133
                                15,810
West Virginia (0.0%)
  West Virginia GO 5.000%  12/1/41        25      26
  West Virginia GO 4.000%   6/1/43        20      19
                                    45
Wisconsin (1.4%)
  Mount Pleasant WI Tax Allocation Tax Increment/Allocation Revenue 5.000%   4/1/43       100     103
  Public Finance Authority College & University Revenue (KU Campus Development Corp. Project) 5.000%   3/1/41        50      51
  Wisconsin Appropriations Revenue, ETM 5.000%   5/1/26     1,000   1,028
  Wisconsin Appropriations Revenue, ETM 5.000%   5/1/27       300     315
  Wisconsin Appropriations Revenue, Prere. 5.000%   5/1/27       160     168
  Wisconsin Department of Transportation Miscellaneous Revenue 5.000%   7/1/28       100     105
  Wisconsin Department of Transportation Miscellaneous Revenue 5.000%   7/1/29       120     126
  Wisconsin Department of Transportation Miscellaneous Revenue 5.000%   7/1/30       125     138
  Wisconsin Department of Transportation Miscellaneous Revenue 5.000%   7/1/32        50      57
  Wisconsin Department of Transportation Miscellaneous Revenue 5.000%   7/1/32        50      57
  Wisconsin Environmental Improvement Fund Water Revenue 5.000%   6/1/33       560     638
  Wisconsin GO 5.000%  11/1/25       100     102
  Wisconsin GO 5.000%   5/1/26       175     180
5 Wisconsin GO 5.000%   5/1/27        50      52
  Wisconsin GO 5.000%  11/1/28       235     246
  Wisconsin GO 5.000%  11/1/28        50      52
  Wisconsin GO 5.000%  11/1/29        75      77
  Wisconsin GO 5.000%  11/1/29       225     235
  Wisconsin GO 5.000%   5/1/30       115     127
  Wisconsin GO 5.000%   5/1/30       120     133
  Wisconsin GO 5.000%   5/1/31        20      22
  Wisconsin GO 4.000%  11/1/34        35      35
  Wisconsin GO 5.000%   5/1/35        75      85
  Wisconsin GO 5.000%   5/1/35        25      29
  Wisconsin GO 5.000%   5/1/37        20      23
  Wisconsin GO 5.000%   5/1/38       325     366
  Wisconsin GO 5.000%   5/1/38       450     513
  Wisconsin GO 5.000%   5/1/39        15      17
  Wisconsin GO, Prere. 5.000%   5/1/25       110     111
                                 5,191
Total Tax-Exempt Municipal Bonds (Cost $359,823) 359,214
Vanguard® Intermediate-Term Tax-Exempt Bond ETF
    Coupon   Shares Market
Value
($000)
Temporary Cash Investments (2.9%)
Investment Company (2.9%)
10 Vanguard Municipal Low Duration Fund (Cost $10,707) 2.123%          1,070,748  10,708
Total Investments (102.3%) (Cost $370,530) 369,922
Other Assets and Liabilities—Net (-2.3%) (8,432)
Net Assets (100%) 361,490
Cost is in $000.
1 Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp.
2 Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co.
3 Step bond.
4 Scheduled principal and interest payments are guaranteed by Assured Guaranty Corp.
5 Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of January 31, 2025.
6 Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp.
7 Scheduled principal and interest payments are guaranteed by Michigan School Board Loan Fund.
8 Scheduled principal and interest payments are guaranteed by Ambac Assurance Corp.
9 Scheduled principal and interest payments are guaranteed by Texas Permanent School Fund.
10 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.
  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.
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. Various inputs may be used to determine the value of the fund’s investments. 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 valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund’s investments 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 — 359,214 — 359,214
Temporary Cash Investments 10,708 — — 10,708
Total 10,708 359,214 — 369,922