Vanguard Malvern Funds - Vanguard Short-Term Inflation-Protected Securities ETF
US ˙ NasdaqGM ˙ US9220208055

SecurityVTIP / Vanguard Malvern Funds - Vanguard Short-Term Inflation-Protected Securities ETF
InstitutionNorthern Lights Variable Trust - TOPS Conservative ETF Portfolio Class 1 shares
Latest Disclosed Ownership132,454 shares
Latest Disclosed Value $ 6,658,462
Northern Lights Variable Trust - TOPS Conservative ETF Portfolio Class 1 shares reports 2.80% increase in ownership of VTIP / Vanguard Malvern Funds - Vanguard Short-Term Inflation-Protected Securities ETF

On August 26, 2025 - Northern Lights Variable Trust - TOPS Conservative ETF Portfolio Class 1 shares filed a NPORT-P form disclosing ownership of 132,454 shares of Vanguard Malvern Funds - Vanguard Short-Term Inflation-Protected Securities ETF (US:VTIP) valued at $6,658,463 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 30, 2025 disclosing 128,845 shares of Vanguard Malvern Funds - Vanguard Short-Term Inflation-Protected Securities ETF. This represents a change in shares of 2.80% during the quarter. The current value of the position is $6,663,761 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)
2025-08-26 2025-06-30 NP VANG SH TERM TIP EC US9220208055 132,454 3,609 2.80 6,658 3.56 15.9475
2025-05-30 2025-03-31 NP VANG SH TERM TIP EC US9220208055 128,845 1,067 0.84 6,429 3.91 16.0481
2025-02-28 2024-12-31 NP VANG SH TERM TIP EC US9220208055 127,778 3,229 2.59 6,187 0.75 16.0112
2024-11-27 2024-09-30 NP VANG SH TERM TIP EC US9220208055 124,549 8,302 7.14 6,142 8.84 15.9912
2024-08-29 2024-06-30 NP VANG SH TERM TIP EC US9220208055 116,247 565 0.49 5,643 1.84 16.0034
2024-05-30 2024-03-31 NP VANG SH TERM TIP EC US9220208055 115,682 3,794 3.39 5,540 4.27 15.9344
2024-02-27 2023-12-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 111,888 10,039 9.86 5,314 10.34 16.0268
2023-11-29 2023-09-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 101,849 2,765 2.79 4,815 2.49 16.0105
2023-08-29 2023-06-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 99,084 4,402 4.65 4,699 3.78 15.9131
2023-05-30 2023-03-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 94,682 1,638 1.76 4,528 4.16 15.9659
2023-02-28 2022-12-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 93,044 8,971 10.67 4,346 7.47 15.9981
2022-11-29 2022-09-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 84,073 2,148 2.62 4,045 -1.51 16.0189
2022-08-26 2022-06-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 81,925 -13,427 -14.08 4,106 -15.90 16.0303
2022-05-31 2022-03-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 95,352 3,291 3.57 4,883 3.19 16.0251
2022-02-25 2021-12-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 92,061 7,831 9.30 4,732 6.84 16.0178
2021-11-29 2021-09-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 84,230 3,366 4.16 4,429 4.48 16.1309
2021-08-26 2021-06-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 80,864 16,497 25.63 4,238 27.77 16.0331
2021-05-27 2021-03-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 64,367 6,083 10.44 3,317 11.38 15.9891
2021-02-26 2020-12-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 58,284 5,401 10.21 2,978 10.38 15.9727
2020-11-25 2020-09-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 52,883 1,461 2.84 2,698 4.61 15.9615
2020-08-27 2020-06-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 51,422 5,405 11.75 2,580 15.08 15.7744
2020-05-29 2020-03-31 NP VANGUARD SHORT-TERM TIPS EC US9220208055 46,017 -919 -1.96 2,242 -3.11 16.0545
2020-02-25 2019-12-31 NP VANGUARD SHORT-TERM TIPS EC 922020805 46,936 4,394 10.33 2,313 10.88 16.0188
2019-11-27 2019-09-30 NP VANGUARD SHORT-TERM TIPS EC US9220208055 42,542 42,542 2,087 15.9730
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.