VANGUARD MUNICIPAL BOND FUNDS - VSDM
Detailed investor-level table based on 13F positions.
Early Q1 2026 data: only 4 institutional holders reported so far. The full shareholder list will grow as more funds file with the SEC.
Methodology:
Market value and % of portfolio use SEC reported VALUE ($000).
For PUT/CALL positions this reflects reported underlying exposure, not premium cash paid/received.
Details.
Rows: 0
| Investor | History | Status | Shares held | Market value ($000) | % of portfolio | Previous % | Rank | Change in shares | % change in shares | Source | Date reported |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capital Investment Services of America, Inc. | History | Added to | 237,731 | 18,174 | 1.71% | 1.08% | 1 | +79,206 | 49.96% | Q4 2025 | Jan 29, 2026 |
| Opus Capital Group, LLC | History | Added to | 108,239 | 8,275 | 0.9% | 0.71% | 2 | +25,452 | 30.74% | Q4 2025 | Jan 30, 2026 |
| CGN Advisors LLC | History | Added to | 97,602 | 7,461 | 0.59% | 0.52% | 3 | +15,406 | 18.74% | Q4 2025 | Jan 05, 2026 |
| Keystone Financial Group, Inc. | History | Added to | 89,432 | 6,837 | 3.58% | 2.53% | 4 | +30,938 | 52.89% | Q4 2025 | Jan 16, 2026 |
| S.A. Mason LLC | History | New | 83,578 | 6,389 | 2.53% | — | 5 | +83,578 | New | Q4 2025 | Jan 29, 2026 |
| Mills Wealth Advisors LLC | History | Added to | 76,701 | 5,863 | 2.31% | 2.38% | 6 | +377 | 0.49% | Q4 2025 | Jan 27, 2026 |
| JANE STREET GROUP, LLC | History | Added to | 66,274 | 5,066 | 0.0% | 0.0% | 7 | +52,649 | 386.41% | Q4 2025 | Feb 12, 2026 |
| Alliance Private Wealth, LLC | History | New | 52,635 | 4,050 | 1.41% | — | 8 | +52,635 | New | Q4 2025 | Feb 13, 2026 |
| MASTER'S WEALTH MANAGEMENT INC. | History | New | 42,826 | 3,274 | 1.18% | — | 9 | +42,826 | New | Q4 2025 | Jan 21, 2026 |
| MOSAIC FAMILY WEALTH PARTNERS, LLC | History | New | 42,505 | 3,249 | 0.36% | — | 10 | +42,505 | New | Q4 2025 | Feb 13, 2026 |
| TRUIST FINANCIAL CORP | History | New | 36,386 | 2,781 | 0.0% | — | 11 | +36,386 | New | Q4 2025 | Feb 02, 2026 |
| Greenwich Wealth Management LLC | History | Added to | 35,993 | 2,752 | 0.12% | 0.11% | 12 | +7,639 | 26.94% | Q4 2025 | Feb 10, 2026 |
| Dakota Wealth Management | History | New | 34,639 | 2,648 | 0.05% | — | 13 | +34,639 | New | Q4 2025 | Jan 13, 2026 |
| Topsail Wealth Management, LLC | History | Added to | 32,136 | 2,456 | 0.36% | 0.41% | 14 | +349 | 1.1% | Q4 2025 | Feb 04, 2026 |
| Rialto Wealth Management, LLC | History | Added to | 30,199 | 2,308 | 0.55% | 0.25% | 15 | +17,648 | 140.61% | Q4 2025 | Jan 12, 2026 |
| COMMONWEALTH EQUITY SERVICES, LLC | History | Added to | 29,434 | 2,250 | 0.0% | 0.0% | 16 | +3,513 | 13.55% | Q4 2025 | Feb 12, 2026 |
| Aprio Wealth Management, LLC | History | New | 26,945 | 2,059 | 0.12% | — | 17 | +26,945 | New | Q4 2025 | Jan 29, 2026 |
| Corient Private Wealth LLC | History | No change | 26,041 | 1,990 | 0.0% | 0.0% | 18 | 0 | 0.0% | Q4 2025 | Mar 09, 2026 |
| Platt Wealth Management LLC | History | New | 22,555 | 1,724 | 1.71% | — | 19 | +22,555 | New | Q4 2025 | Feb 06, 2026 |
| Conservest Capital Advisors, Inc. | History | Added to | 21,352 | 1,632 | 0.15% | 0.15% | 20 | +78 | 0.37% | Q4 2025 | Feb 12, 2026 |
| Verum Partners LLC | History | Reduced | 19,235 | 1,470 | 0.3% | 3.66% | 21 | -205,101 | -91.43% | Q4 2025 | Jan 14, 2026 |
| CRA Financial Services, LLC | History | No change | 17,743 | 1,356 | 0.18% | 0.19% | 22 | 0 | 0.0% | Q4 2025 | Jan 16, 2026 |
| Baker Ellis Asset Management LLC | History | Added to | 15,400 | 1,177 | 0.14% | 0.11% | 23 | +3,700 | 31.62% | Q4 2025 | Jan 21, 2026 |
| BOSTON FAMILY OFFICE LLC | History | Added to | 14,989 | 1,146 | 0.07% | 0.05% | 24 | +5,563 | 59.02% | Q4 2025 | Feb 13, 2026 |
| MFA Wealth Services | History | Added to | 14,697 | 1,123 | 0.76% | 0.41% | 25 | +6,939 | 89.44% | Q4 2025 | Jan 15, 2026 |
| Burton Enright Welch | History | Added to | 14,697 | 1,123 | 0.16% | 0.16% | 26 | +1,092 | 8.03% | Q4 2025 | Feb 13, 2026 |
| Essex Financial Services, Inc. | History | Added to | 14,515 | 1,109 | 0.06% | 0.06% | 27 | +1,170 | 8.77% | Q4 2025 | Feb 10, 2026 |
| Elequin Capital, LP | History | Added to | 14,399 | 1,100 | 0.08% | 0.05% | 28 | +2,701 | 23.09% | Q4 2025 | Feb 17, 2026 |
| Harbor Group, Inc. | History | Added to | 13,639 | 1,042 | 0.16% | 0.12% | 29 | +3,582 | 35.62% | Q4 2025 | Jan 12, 2026 |
| Breakwater Capital Group | History | Added to | 12,931 | 988 | 0.14% | 0.12% | 30 | +2,604 | 25.22% | Q4 2025 | Jan 09, 2026 |
| Stonebridge Financial Group, LLC | History | New | 10,318 | 788 | 0.07% | — | 31 | +10,318 | New | Q4 2025 | Jan 21, 2026 |
| Kelman-Lazarov, Inc. | History | Added to | 10,254 | 783 | 0.11% | 0.1% | 32 | +1,853 | 22.06% | Q4 2025 | Jan 26, 2026 |
| CITADEL ADVISORS LLC | History | New | 9,861 | 753 | 0.0% | — | 33 | +9,861 | New | Q4 2025 | Feb 17, 2026 |
| Prospera Capital Management, LLC | History | No change | 9,342 | 714 | 0.36% | 0.35% | 34 | 0 | 0.0% | Q4 2025 | Jan 20, 2026 |
| New England Private Wealth Advisors LLC | History | New | 8,385 | 641 | 0.08% | — | 35 | +8,385 | New | Q4 2025 | Feb 13, 2026 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | History | New | 8,027 | 613 | 0.0% | — | 36 | +8,027 | New | Q4 2025 | Feb 17, 2026 |
| Financial Engines Advisors L.L.C. | History | Added to | 7,822 | 597 | 0.0% | 0.0% | 37 | +2,349 | 42.92% | Q4 2025 | Feb 12, 2026 |
| Quantum Financial Planning Services, Inc. | History | New | 7,532 | 575 | 0.21% | — | 38 | +7,532 | New | Q4 2025 | Jan 15, 2026 |
| LPL Financial LLC | History | New | 7,303 | 558 | 0.0% | — | 39 | +7,303 | New | Q4 2025 | Feb 11, 2026 |
| PEAPACK GLADSTONE FINANCIAL CORP | History | New | 6,000 | 459 | 0.01% | — | 40 | +6,000 | New | Q4 2025 | Feb 10, 2026 |
| Wayfinding Financial, LLC | History | Reduced | 5,505 | 420 | 0.18% | 0.66% | 41 | -14,583 | -72.6% | Q4 2025 | Feb 12, 2026 |
| N.E.W. Advisory Services LLC | History | No change | 5,400 | 412 | 0.03% | 0.04% | 42 | 0 | 0.0% | Q4 2025 | Jan 28, 2026 |
| Waverly Advisors, LLC | History | New | 5,225 | 399 | 0.0% | — | 43 | +5,225 | New | Q4 2025 | Feb 17, 2026 |
| Gutierrez Wealth Advisory, LLC | History | Added to | 4,750 | 363 | 0.23% | 0.21% | 44 | +544 | 12.93% | Q4 2025 | Feb 06, 2026 |
| JPMORGAN CHASE & CO | History | Added to | 4,557 | 348 | 0.0% | 0.0% | 45 | +2,054 | 82.06% | Q4 2025 | Feb 11, 2026 |
| Financial Planning Hawaii, Inc. | History | New | 4,527 | 346 | 0.2% | — | 46 | +4,527 | New | Q4 2025 | Jan 15, 2026 |
| Blue Trust, Inc. | History | Added to | 4,257 | 325 | 0.0% | 0.0% | 47 | +45 | 1.07% | Q4 2025 | Jan 16, 2026 |
| American Investment Services, Inc. | History | New | 4,149 | 317 | 0.07% | — | 48 | +4,149 | New | Q4 2025 | Feb 13, 2026 |
| GOLDMAN SACHS GROUP INC | History | New | 3,977 | 304 | 0.0% | — | 49 | +3,977 | New | Q4 2025 | Mar 25, 2026 |
| Advyzon Investment Management, LLC | History | Added to | 3,903 | 298 | 0.03% | 0.05% | 50 | +8 | 0.21% | Q4 2025 | Feb 13, 2026 |
| Soltis Investment Advisors LLC | History | New | 3,893 | 297 | 0.02% | — | 51 | +3,893 | New | Q4 2025 | Apr 02, 2026 |
| Beacon Pointe Advisors, LLC | History | No change | 3,567 | 272 | 0.0% | 0.0% | 52 | 0 | 0.0% | Q4 2025 | Feb 18, 2026 |
| Advisory Services Network, LLC | History | Added to | 3,466 | 264 | 0.0% | 0.0% | 53 | +8 | 0.23% | Q4 2025 | Feb 17, 2026 |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC | History | Reduced | 3,400 | 260 | 0.01% | 0.04% | 54 | -6,500 | -65.66% | Q4 2025 | Jan 27, 2026 |
| Timmons Wealth Management, LLC | History | New | 3,391 | 259 | 0.25% | — | 55 | +3,391 | New | Q4 2025 | Feb 12, 2026 |
| Strategic Investment Solutions, Inc. /IL | History | New | 3,285 | 251 | 0.06% | — | 56 | +3,285 | New | Q4 2025 | Feb 27, 2026 |
| Ascent Group, LLC | History | New | 3,279 | 250 | 0.01% | — | 57 | +3,279 | New | Q4 2025 | Jan 20, 2026 |
| Bryn Mawr Trust Advisors, LLC | History | New | 3,269 | 249 | 0.01% | — | 58 | +3,269 | New | Q4 2025 | Feb 04, 2026 |
| Kestra Advisory Services, LLC | History | Added to | 3,199 | 244 | 0.0% | 0.0% | 59 | +34 | 1.07% | Q4 2025 | Feb 13, 2026 |
| Sugar Maple Asset Management, LLC | History | New | 3,008 | 229 | 0.15% | — | 60 | +3,008 | New | Q4 2025 | Jan 20, 2026 |
| CARDIFF PARK ADVISORS, LLC | History | No change | 2,850 | 217 | 0.02% | 0.02% | 61 | 0 | 0.0% | Q4 2025 | Feb 17, 2026 |
| Vise Technologies, Inc. | History | New | 2,745 | 209 | 0.0% | — | 62 | +2,745 | New | Q4 2025 | Feb 11, 2026 |
| Root Financial Partners, LLC | History | New | 2,745 | 209 | 0.01% | — | 63 | +2,745 | New | Q4 2025 | Feb 10, 2026 |
| Elmwood Wealth Management, Inc. | History | Added to | 2,669 | 204 | 0.06% | 0.07% | 64 | +28 | 1.06% | Q4 2025 | Jan 08, 2026 |
| Wilmington Savings Fund Society, FSB | History | New | 2,158 | 164 | 0.0% | — | 65 | +2,158 | New | Q4 2025 | Feb 12, 2026 |
| JONES FINANCIAL COMPANIES LLLP | History | New | 1,524 | 116 | 0.0% | — | 66 | +1,524 | New | Q4 2025 | Feb 17, 2026 |
| ROYAL BANK OF CANADA | History | New | 1,215 | 93 | 0.0% | — | 67 | +1,215 | New | Q4 2025 | Feb 17, 2026 |
| NBC SECURITIES, INC. | History | New | 982 | 75 | 0.01% | — | 68 | +982 | New | Q4 2025 | Jan 29, 2026 |
| Farther Finance Advisors, LLC | History | Added to | 770 | 58 | 0.0% | 0.0% | 69 | +193 | 33.45% | Q4 2025 | Jan 23, 2026 |
| Trust Co | History | New | 452 | 34 | 0.0% | — | 70 | +452 | New | Q4 2025 | Jan 15, 2026 |
| OSAIC HOLDINGS, INC. | History | New | 300 | 22 | 0.0% | — | 71 | +300 | New | Q4 2025 | Feb 17, 2026 |
| Acumen Wealth Advisors, LLC | History | New | 262 | 20 | 0.01% | — | 72 | +262 | New | Q4 2025 | Feb 13, 2026 |
| von Borstel & Associates, Inc. | History | Closed out | 0 | 0 | — | 0.4% | — | -34,313 | -100.0% | Q3 2025 | Nov 14, 2025 |
| Lindenwold Advisors, INC | History | Closed out | 0 | 0 | — | 0.84% | — | -23,075 | -100.0% | Q3 2025 | Dec 16, 2025 |
| Integrated Wealth Concepts LLC | History | Closed out | 0 | 0 | — | 0.01% | — | -8,665 | -100.0% | Q3 2025 | Nov 14, 2025 |
| Belpointe Asset Management LLC | History | Closed out | 0 | 0 | — | 0.01% | — | -3,470 | -100.0% | Q3 2025 | Nov 03, 2025 |
| World Investment Advisors | History | Closed out | 0 | 0 | — | 0.0% | — | -2,967 | -100.0% | Q3 2025 | Oct 15, 2025 |
| J.W. COLE ADVISORS, INC. | History | Closed out | 0 | 0 | — | 0.0% | — | -2,680 | -100.0% | Q3 2025 | Nov 05, 2025 |
| HARBOUR INVESTMENTS, INC. | History | Closed out | 0 | 0 | — | 0.0% | — | -884 | -100.0% | Q3 2025 | Nov 12, 2025 |
| WELLS FARGO & COMPANY/MN | History | No change | 1 | 0 | — | — | — | 0 | 0.0% | Q4 2025 | Feb 13, 2026 |