# VANGUARD MUN BD FDS (VTEI)

> Institutional ownership reported to the SEC as of Q3 2026, from Form 13F filings. Source: https://holderbook.com/stocks/VTEI/

- Reporting holders: 19
- Reported value: $107.6M
- Held through calls: 0.0%
- Held through puts: 0.0%

A 13F reports long US equity positions only. Shorts, bonds, foreign listings and cash are not visible here, and positions are disclosed up to 45 days after the quarter ends.

## Largest holders

| Manager | Value | Shares | Share of their book | Quarters held |
|---|---|---|---|---|
| [FERGUSON WELLMAN CAPITAL MANAGEMENT, INC](https://holderbook.com/funds/869353-ferguson-wellman-capital-management-inc/) | $55.1M | 578,161 | 0.7% | 3 |
| [FIRST FINANCIAL BANK - TRUST DIVISION](https://holderbook.com/funds/1315339-first-financial-bank-trust-division/) | $10.6M | 110,872 | 0.8% | 7 |
| [Wedmont Private Capital](https://holderbook.com/funds/1904274-wedmont-private-capital/) | $9.7M | 102,209 | 0.2% | 1 |
| [Heartwood Wealth Advisors LLC](https://holderbook.com/funds/1794935-heartwood-wealth-advisors-llc/) | $7.8M | 82,138 | 0.6% | 9 |
| [Paragon Capital Management Ltd](https://holderbook.com/funds/1569765-paragon-capital-management-ltd/) | $5.9M | 61,371 | 1.1% | 11 |
| [Apella Capital, LLC](https://holderbook.com/funds/1801507-apella-capital-llc/) | $5.3M | 55,528 | 0.1% | 4 |
| [Valeo Financial Advisors, LLC](https://holderbook.com/funds/1722641-valeo-financial-advisors-llc/) | $2.3M | 24,459 | 0.0% | 8 |
| [Cassilly Financial Group LLC](https://holderbook.com/funds/2090777-cassilly-financial-group-llc/) | $2.1M | 21,927 | 1.4% | 1 |
| [SigFig Wealth Management, LLC](https://holderbook.com/funds/1696957-sigfig-wealth-management-llc/) | $1.7M | 17,695 | 0.0% | 7 |
| [First Heartland Consultants, Inc.](https://holderbook.com/funds/1428793-first-heartland-consultants-inc/) | $1.6M | 17,191 | 0.1% | 6 |
| [FINANCIAL MANAGEMENT NETWORK INC](https://holderbook.com/funds/1844831-financial-management-network-inc/) | $1.5M | 15,931 | 0.2% | 9 |
| [Farther Finance Advisors, LLC](https://holderbook.com/funds/1992825-farther-finance-advisors-llc/) | $1.4M | 14,521 | 0.0% | 5 |
| [Sprinkle Financial Consultants LLC](https://holderbook.com/funds/2011593-sprinkle-financial-consultants-llc/) | $970.9K | 10,183 | 0.4% | 4 |
| [CoreCap Advisors, LLC](https://holderbook.com/funds/1902501-corecap-advisors-llc/) | $464.5K | 4,872 | 0.0% | 7 |
| [Avidian Wealth Enterprises, LLC](https://holderbook.com/funds/1471474-avidian-wealth-enterprises-llc/) | $395.3K | 4,146 | 0.0% | 2 |
| [Worth Asset Management, LLC](https://holderbook.com/funds/1927285-worth-asset-management-llc/) | $272.6K | 2,859 | 0.1% | 2 |
| [WINEBRENNER CAPITAL MANAGEMENT LLC](https://holderbook.com/funds/2047728-winebrenner-capital-management-llc/) | $268.8K | 2,819 | 0.2% | 8 |
| [AMERICAN NATIONAL BANK & TRUST](https://holderbook.com/funds/1272164-american-national-bank-trust/) | $141.9K | 1,488 | 0.0% | 8 |
| [Trust Co](https://holderbook.com/funds/1632554-trust-co/) | $58.3K | 611 | 0.0% | 5 |

## Quarter by quarter

| Quarter | Holders | Reported value |
|---|---|---|
| Q3 2026 | 19 | $107.6M |
| Q2 2026 | 176 | $884.2M |
| Q1 2026 | 154 | $736.3M |
| Q4 2025 | 144 | $604.3M |
| Q3 2025 | 110 | $549.4M |
| Q2 2025 | 89 | $290.1M |
| Q1 2025 | 77 | $128.7M |
| Q4 2024 | 61 | $117.9M |
| Q3 2024 | 31 | $39.8M |
| Q2 2024 | 19 | $17.8M |
| Q1 2024 | 6 | $3.5M |