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

SecurityVTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF
InstitutionHowe & Rusling Inc
Latest Disclosed Ownership55,621 shares
Latest Disclosed Value $ 2,774,908
Howe & Rusling Inc reports 162.41% increase in ownership of VTEB / Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF

On April 28, 2026 - Howe & Rusling Inc filed a 13F-HR form disclosing ownership of 55,621 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF (US:VTEB) valued at $2,774,932 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 14, 2026 disclosing 21,196 shares of Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF. This represents a change in shares of 162.41% during the quarter. The current value of the position is $2,798,293 USD.

Institutional Ownership: 13F and NPORT Filings

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

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

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-04-28 2026-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 55,621 34,425 162.41 2,775 160.47 0.1810
2026-02-14 2025-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 21,196 -208 -0.97 1,066 -0.56 0.0705
2025-11-05 2025-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 21,404 -3,687 -14.69 1,072 -12.93 0.0735
2025-08-12 2025-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 25,091 -1,800 -6.69 1,230 -7.80 0.0909
2025-06-17 2025-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 26,891 132 0.49 1,334 -0.52 0.1122
2025-02-12 2024-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 26,759 -695 -2.53 1,341 -4.42 0.1156
2024-11-08 2024-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 27,454 626 2.33 1,403 4.39 0.1207
2024-08-14 2024-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 26,828 4,413 19.69 1,344 18.52 0.1226
2024-05-15 2024-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 22,415 5,699 34.09 1,134 32.94 0.1086
2024-02-06 2023-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 16,716 -3,674 -18.02 853 -12.96 0.0905
2023-11-09 2023-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 20,390 -413 -1.99 981 -6.13 0.1157
2023-08-14 2023-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 20,803 -48 -0.23 1,045 -1.14 0.1169
2023-05-15 2023-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 20,851 8,811 73.18 1,056 77.48 0.1258
2023-02-15 2022-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 12,040 -3,961 -24.75 596 -22.73 0.0747
2022-11-14 2022-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 16,001 501 3.23 770 -0.52 0.1023
2022-08-15 2022-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 15,500 376 2.49 774 -0.77 0.0981
2022-05-10 2022-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 15,124 273 1.84 780 -4.29 0.0902
2022-02-14 2021-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 14,851 773 5.49 815 5.71 0.0955
2021-11-15 2021-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 14,078 -1,628 -10.37 771 -11.28 0.0967
2021-08-13 2021-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 15,706 -1,629 -9.40 869 -8.24 0.1096
2021-05-13 2021-03-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 17,335 4,394 33.95 947 32.63 0.1286
2021-02-08 2020-12-31 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 12,941 105 0.82 714 2.15 0.1085
2020-11-06 2020-09-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 12,836 6,758 111.19 699 112.46 0.1199
2020-07-15 2020-06-30 13F VANGUARD MUN BD FDS TAX EXEMPT BD 922907746 6,078 568 10.31 329 13.06 0.0607
2020-05-14 2020-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 5,510 -2,830 -33.93 291 -34.90 0.0627
2020-02-05 2019-12-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 8,340 525 6.72 447 6.68 0.0740
2019-10-31 2019-09-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 7,815 465 6.33 419 7.44 0.0734
2019-08-12 2019-06-30 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 7,350 4,225 135.20 390 139.26 0.0674
2019-04-29 2019-03-31 13F VANGUARD MUN BD FD TAX EXEMPT BD 922907746 3,125 3,125 163 0.0282
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.