Vanguard Municipal Bond Funds. Holdings as of Jul 31, 2026, from Form N-PORT.
Share of net assets at the report date, for the whole fund across all share classes.
| Holding | Weight | Value | Shares or units |
|---|---|---|---|
| Vanguard Cmt Funds-Vanguard Municipal Cash Management FundCash or money market | 0.65% | $2.12M | 21,241,334 |
| State of CaliforniaBond | 0.16% | $516.88K | 490,000 |
| Grand Parkway Transportation CorpBond | 0.15% | $487.84K | 480,000 |
| New York City Transitional Finance Authority Future Tax Secured RevenueBond | 0.15% | $475.92K | 450,000 |
| New York State Dormitory AuthorityBond | 0.13% | $416.53K | 390,000 |
| New York City Transitional Finance Authority Future Tax Secured RevenueBond | 0.13% | $408.05K | 380,000 |
| State of CaliforniaBond | 0.12% | $398.39K | 365,000 |
| Hudson Yards Infrastructure CorpBond | 0.12% | $387.37K | 385,000 |
| New Jersey Turnpike AuthorityBond | 0.12% | $384.41K | 370,000 |
| Empire State Development CorpBond | 0.11% | $370.07K | 355,000 |
| New York State Dormitory AuthorityBond | 0.11% | $366.33K | 405,000 |
| Metropolitan Transportation AuthorityBond | 0.11% | $365.34K | 370,000 |
| Tampa-Hillsborough County Expressway AuthorityBond | 0.11% | $356.79K | 355,000 |
| California Educational Facilities AuthorityBond | 0.10% | $339.76K | 325,000 |
| Los Angeles Department of Water & PowerBond | 0.10% | $336.07K | 335,000 |
| Municipal Electric Authority of GeorgiaBond | 0.10% | $335.11K | 335,000 |
| Sales Tax Securitization CorpBond | 0.10% | $329.66K | 325,000 |
| Aquarion Water AuthorityBond | 0.10% | $327.91K | 300,000 |
| New York State Dormitory AuthorityBond | 0.10% | $322.20K | 305,000 |
| New York State Dormitory AuthorityBond | 0.10% | $315.86K | 310,000 |
| New York State Thruway AuthorityBond | 0.10% | $315.60K | 300,000 |
| State of IllinoisBond | 0.10% | $310.78K | 300,000 |
| Battery Park City AuthorityBond | 0.10% | $310.45K | 300,000 |
| New York State Dormitory AuthorityBond | 0.10% | $309.87K | 305,000 |
| Oklahoma Water Resources BoardBond | 0.09% | $308.11K | 300,000 |
| New York State Thruway AuthorityBond | 0.09% | $307.02K | 300,000 |
| Metropolitan Transportation AuthorityBond | 0.09% | $306.54K | 305,000 |
| Metropolitan Transportation AuthorityBond | 0.09% | $306.30K | 335,000 |
| New York State Thruway AuthorityBond | 0.09% | $305.75K | 300,000 |
| Washington Metropolitan Area Transit AuthorityBond | 0.09% | $303.08K | 300,000 |
| Conroe Independent School DistrictBond | 0.09% | $301.70K | 275,000 |
| Metropolitan Pier & Exposition AuthorityBond | 0.09% | $297.39K | 300,000 |
| New York City Transitional Finance Authority Future Tax Secured RevenueBond | 0.09% | $296.55K | 285,000 |
| Oklahoma Turnpike AuthorityBond | 0.09% | $294.66K | 275,000 |
| Metropolitan Atlanta Rapid Transit AuthorityBond | 0.09% | $292.06K | 275,000 |
| City of San Francisco CA Public Utilities Commission Water RevenueBond | 0.09% | $291.95K | 280,000 |
| California State Public Works BoardBond | 0.09% | $290.01K | 265,000 |
| Permanent University Fund - University of Texas SystemBond | 0.09% | $286.89K | 250,000 |
| Salem-Keizer School District No 24JBond | 0.09% | $286.70K | 280,000 |
| New Jersey Transportation Trust Fund AuthorityBond | 0.09% | $285.96K | 300,000 |
| New York City Transitional Finance Authority Future Tax Secured RevenueBond | 0.09% | $284.19K | 265,000 |
| University of CaliforniaBond | 0.09% | $284.08K | 245,000 |
| University of CaliforniaBond | 0.09% | $283.25K | 260,000 |
| State of WashingtonBond | 0.09% | $280.72K | 270,000 |
| University of MichiganBond | 0.09% | $280.37K | 275,000 |
| Pennsylvania Turnpike Commission Oil Franchise Tax RevenueBond | 0.09% | $278.67K | 275,000 |
| Energy NorthwestBond | 0.09% | $277.79K | 265,000 |
| Corsicana Independent School DistrictBond | 0.08% | $276.46K | 270,000 |
| Plano Independent School DistrictBond | 0.08% | $271.99K | 260,000 |
| Oregon City School District No 62Bond | 0.08% | $271.97K | 270,000 |
Holdings from the fund's latest Form N-PORT; expense ratio (net of fee waivers) from the risk/return summary of its prospectus; fund type from Form N-CEN. Prices are end-of-day closes adjusted for splits; total return also reinvests distributions.