X0404 N-CEN LIVE 0000836906 XXXXXXXX 811-05628 true false false N-1A true VANGUARD MALVERN FUNDS 811-05628 0000836906 549300EW16IGZDA38J20 100 VANGUARD BOULEVARD MALVERN 19355 US-PA US 6106691000 JPMorgan Chase Bank 383 Madison Avenue New York 10179 212-648-0466 The accounts, books, and other documents required to be maintained by Registrant pursuant to section 31(a) of the Investment Company Act of 1940 and the Rules thereunder. State Street Bank and Trust One Congress Street, Suite 1 Boston 20114 617-662-3839 The accounts, books, and other documents required to be maintained by Registrant pursuant to section 31(a) of the Investment Company Act of 1940 and the Rules thereunder. N N N-1A 9 Y Andre F. Perold N/A N Lubos Pastor N/A N Mark Loughridge N/A N Emerson U. Fullwood N/A N Tara Bunch N/A N Scott C. Malpass N/A N F. Joseph Loughrey N/A N David Thomas N/A N Sarah Bloom Raskin N/A N Peter F. Volanakis N/A N Grant Reid N/A N Jacqueline Mary Angell 005606776 100 Vanguard Boulevard Malvern 19355 XXXXXX N N N N N N VANGUARD MARKETING CORP. 8-21570 000007452 N/A Y N PRICEWATERHOUSECOOPERS LLP 000000238 5493002GVO7EO8RNNS37 N N N N N N N VANGUARD EMERGING MARKETS BOND FUND S000053069 5493006QRHGOC6VL4381 N 2 0 0 N/A Y N N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-4 (17 CFR 270.12d1-4) Rule 18f-4 (17 CFR 270.18f-4) N N N N The Vanguard Group, Inc. 801-11953 000105958 5493002789CX3L0CJP65 N The Vanguard Group, Inc. 084-00772 5493002789CX3L0CJP65 Y N N London Stock Exchange Group (LSEG) 20-4530702 TIN N ITG Analytics Inc 41-2190282 TIN N ICE Data Pricing and Reference Data LLC 5493000NQ9LYLDBCTL34 N S&P Global Limited 98-0634017 TIN GB N Bloomberg Finance LP 5493001KJTIIGC8Y1R12 N JPMorgan Chase Bank 7H6GLXDRUGQFU57RNE97 N N Stanbic IBTC Bank Plc. 549300NIVXF92ZIOVW61 NG N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UBS Switzerland AG 549300WOIFUSNYH0FL22 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Hongkong and Shanghai Banking Corporation Limited 2HI3YI5320L3RW6NJ957 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank RILFO74KP1CM8P6PCT96 ID N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Malaysia 7LTWFZYICNSX8D621K86 MY N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) The Hongkong and Shanghai Banking Corporation Limited 2HI3YI5320L3RW6NJ957 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Bank Hapoalim B.M. 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KR6LSKV3BTSJRD41IF75 CZ N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank Malaysia Berhad 549300JTJBG2QBI8KD48 MY N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Clearstream Banking, S.A. 549300OL514RA0SXJJ44 LU N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) Mizuho Bank, Limited RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, N.A. E57ODZWZ7FF32TWEFA76 AR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, A.S. CWZ8NZDH5SKY12Q4US31 TR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) FAB Capital J.S.C. (as delegate of First Abu Dhabi Bank P.J.S.C.) 2138002Y3WMK6RZS8H90 SA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank Europe plc, Dublin Romania Branch N1FBEDJ5J41VKZLO2475 RO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Cititrust Colombia S.A. 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N/A N/A 6SHGI4ZSSLCXXQSBB395 1071108097.30000005 Morgan Stanley & Co. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 2386337503.05999999 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 2291723617.52999998 Citadel Securities LLC 008-53574 000116797 12UUJYTN7D3SW8KCSG25 4808671829.07999990 HSBC Securities (USA) Inc. 008-41562 000019585 CYYGQCGNHMHPSMRL3R97 813569835.98999998 Wells Fargo Securities, LLC 008-22947 000007665 VYVVCKR63DVZZN70PB21 1279308207.32999993 Goldman Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 886529694.46000004 Barclays Capital Inc. 008-41342 000019714 AC28XWWI3WIBK2824319 1853335673.62999989 Vanguard Market Liquidity Fund N/A N/A 1I6HV0TLSTR3A4XQ6L78 7153352766.00000000 28904328385.67999968 N 6336748066.21916666 Committed 4300000000.00000000 N N N N VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND S000038501 TX6CG4TTV0FTLWSYWI43 N 4 0 0 Exchange-Traded Fund N N 0.04605000 -0.10456000 0.53571714 0.53538928 N N N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) Rule 12d1-4 (17 CFR 270.12d1-4) N N N N The Vanguard Group, Inc. 801-11953 000105958 5493002789CX3L0CJP65 N The Vanguard Group, Inc. 084-00772 5493002789CX3L0CJP65 Y N N ICE Data Pricing and Reference Data LLC 5493000NQ9LYLDBCTL34 N JPMorgan Chase Bank 7H6GLXDRUGQFU57RNE97 N S&P Global Limited 98-0634017 TIN GB N Bloomberg Finance LP 5493001KJTIIGC8Y1R12 N London Stock Exchange Group (LSEG) 20-4530702 TIN N ITG Analytics Inc 41-2190282 TIN N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N The Vanguard Group, Inc. 5493002789CX3L0CJP65 Y N N THE VANGUARD GROUP, INC. 5493002789CX3L0CJP65 Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N Y N 0.00000000 Vanguard Market Liquidity Fund N/A N/A 1I6HV0TLSTR3A4XQ6L78 22265264661.00000000 Deutsche Bank Securities Inc. 008-17822 000002525 9J6MBOOO7BECTDTUZW19 719964129.89999998 Goldman Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 6911871407.15999980 BNP Paribas Securities Corp. 008-32682 000015794 RCNB6OTYUAMMP879YW96 1911162701.17000010 Barclays Capital Inc. 008-41342 000019714 AC28XWWI3WIBK2824319 3956604495.07999990 Nomura Securities International, Inc. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 803409591.91999996 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 1642453783.92999989 Morgan Stanley & Co. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 980785867.76999998 Citadel Securities LLC 008-53574 000116797 12UUJYTN7D3SW8KCSG25 1032672219.88000000 CITIGROUP INC. N/A N/A 6SHGI4ZSSLCXXQSBB395 1819873956.34999990 43684218086.60999953 N 52038984623.08750000 Committed 4300000000.00000000 N N N VANGUARD CORE BOND FUND S000053068 5493004LZLCTSJUBPZ86 N 2 0 0 N/A N N N N N/A N/A N/A Rule 18f-4(f)(17 CFR 270.18f-4(f)) Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-4 (17 CFR 270.12d1-4) Rule 18f-4 (17 CFR 270.18f-4) N N N N The Vanguard Group, Inc. 801-11953 000105958 5493002789CX3L0CJP65 N The Vanguard Group, Inc. 084-00772 5493002789CX3L0CJP65 Y N N London Stock Exchange Group (LSEG) 20-4530702 TIN N S&P Global Limited 98-0634017 TIN GB N Bloomberg Finance LP 5493001KJTIIGC8Y1R12 N ICE Data Pricing and Reference Data LLC 5493000NQ9LYLDBCTL34 N JPMorgan Chase Bank 7H6GLXDRUGQFU57RNE97 N ITG Analytics Inc 41-2190282 TIN N N JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank Korea Limited NUXTG47HHHM1K2L0SG39 KR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Mizuho Bank Ltd RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) COMMERCIAL BANK JP MORGAN BANK INTERNATIONAL LIMITED LIABILITY COMPANY 549300B831LSRSI6RA15 RU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank del Peru SA MYTK5NHHP1G8TVFGT193 PE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) CITITRUST COLOMBIA SA SOCIEDAD FIDUCIARIA 549300242J3IJCOSGI49 CO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Royal Bank of Canada ES7IP3U3RHIGC71XBU11 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank Europe plc Dublin Romania Branch N1FBEDJ5J41VKZLO2475 RO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank AG Hungary Branch 7LTWFZYICNSX8D621K86 HU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Euroclear 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) Banco Nacional De Mexico SA Integrante Del Grupo Financiero Banamex 2SFFM4FUIE05S37WFU55 MX N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA Hong Kong Branch 7H6GLXDRUGQFU57RNE97 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) PT Bank HSBC Indonesia 213800HW5IDIRLWH1203 ID N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N The Vanguard Group, Inc. 5493002789CX3L0CJP65 Y N N THE VANGUARD GROUP, INC. 5493002789CX3L0CJP65 Y N JPMorgan Chase Bank, N.A. 7H6GLXDRUGQFU57RNE97 N Y N 0.00000000 CITIGROUP INC. N/A N/A 6SHGI4ZSSLCXXQSBB395 6699332261.50999941 Vanguard Market Liquidity Fund N/A N/A 1I6HV0TLSTR3A4XQ6L78 10948318878.00000000 Mizuho Securities USA Inc 008-37710 000019647 5493004GRDTUI7EMIZ82 15432893015.60000097 BNP Paribas Securities Corp. 008-32682 000015794 RCNB6OTYUAMMP879YW96 2375592351.68999997 Goldman Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 15582663101.07000052 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 8193315601.68000034 Wells Fargo Securities, LLC 008-22947 000007665 VYVVCKR63DVZZN70PB21 4934358329.39999987 Morgan Stanley & Co. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 28557325075.91999957 Barclays Capital Inc. 008-41342 000019714 AC28XWWI3WIBK2824319 16533658923.29999900 BofA Securities, Inc. 008-69787 000283942 549300HN4UKV1E2R3U73 18077058522.86999990 136908574190.83999942 N 10879236288.66916666 Committed 4300000000.00000000 N N N N VANGUARD CORE-PLUS BOND ETF S000083198 529900XBD4FFIDOM5S90 Y 1 1 0 Exchange-Traded Fund N N N N N/A N/A N/A Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) Rule 18f-4(f)(17 CFR 270.18f-4(f)) Rule 12d1-4 (17 CFR 270.12d1-4) Rule 32a-4 (17 CFR 270.32a-4) Rule 18f-4 (17 CFR 270.18f-4) Y Y N N The Vanguard Group, Inc. 801-11953 000105958 5493002789CX3L0CJP65 2023-12-6 The Vanguard Group, Inc. 084-00772 5493002789CX3L0CJP65 Y N Y ITG Analytics Inc 41-2190282 TIN N JPMorgan Chase Bank 7H6GLXDRUGQFU57RNE97 N Bloomberg Finance LP 5493001KJTIIGC8Y1R12 N London Stock Exchange Group (LSEG) 20-4530702 TIN N S&P Global Limited 98-0634017 TIN GB N ICE Data Pricing and Reference Data LLC 5493000NQ9LYLDBCTL34 N Y JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) CITIBANK NA EGYPT E57ODZWZ7FF32TWEFA76 EG N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Royal Bank of Canada ES7IP3U3RHIGC71XBU11 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank AG Hungary Branch 7LTWFZYICNSX8D621K86 HU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP PARIBAS SA SUCCURSALE ITALIA R0MUWSFPU8MPRO8K5P83 IT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB publ Oslofilialen F3JS33DEI6XQ4ZBPTN86 NO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Bank Leumi leIsrael BM 7JDSZWRGUQY2DSTWCR57 IL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 BE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank Thai Public Company Limited 549300O1LQYCQ7G1IM57 TH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 DK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Banco Santander Chile 3YJP8HORPAEXJ80D6368 CL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA New Zealand Branch 7H6GLXDRUGQFU57RNE97 NZ N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UNICREDIT BANK CZECH REPUBLIC AND SLOVAKIA AS POBOCKA ZAHRANICNEJ BANKY KR6LSKV3BTSJRD41IF75 SK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) HSBC Argentina Bank SA 549300K52NF2S4SQDO82 AR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP PARIBAS SA R0MUWSFPU8MPRO8K5P83 PT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Euroclear 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) PT Bank HSBC Indonesia 213800HW5IDIRLWH1203 ID N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SA DISTRIBUIDORA DE TITULOS E VALORES MOBILIARIOS 5493001LS7J56NZZ3G07 BR N Y Foreign custodian - 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LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 385877692.83999999 Nomura Securities International, Inc. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 29020573.34000000 Barclays Capital Inc. 008-41342 000019714 AC28XWWI3WIBK2824319 120202322.10999998 Wells Fargo Securities, LLC 008-22947 000007665 VYVVCKR63DVZZN70PB21 46351292.02999999 Mizuho Securities USA Inc 008-37710 000019647 5493004GRDTUI7EMIZ82 191868154.25000000 Vanguard Market Liquidity Fund N/A N/A 1I6HV0TLSTR3A4XQ6L78 249613508.00000000 CITIGROUP INC. N/A N/A 6SHGI4ZSSLCXXQSBB395 178707546.24999999 BofA Securities, Inc. 008-69787 000283942 549300HN4UKV1E2R3U73 247866127.58999999 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 101473567.22999998 Goldman Sachs & Co. 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LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 30550228.33999999 BofA Securities, Inc. 008-69787 000283942 549300HN4UKV1E2R3U73 40546551.02999999 JEFFERIES FINANCIAL GROUP INC. N/A 000162264 549300HOF34RGOJ5YL07 11147452.24000000 Deutsche Bank Securities Inc. 008-17822 000002525 9J6MBOOO7BECTDTUZW19 9676713.74000000 Vanguard Market Liquidity Fund N/A N/A 1I6HV0TLSTR3A4XQ6L78 171213142.00000000 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 38611996.71000000 CITIGROUP INC. N/A N/A 6SHGI4ZSSLCXXQSBB395 51818109.53999999 Wells Fargo Securities, LLC 008-22947 000007665 VYVVCKR63DVZZN70PB21 11503338.66999999 Morgan Stanley & Co. 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Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 280643973.82999997 Goldman Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 442892292.43999996 Morgan Stanley & Co. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 899647592.14999998 Barclays Capital Inc. 008-41342 000019714 AC28XWWI3WIBK2824319 270489494.97999999 BofA Securities, Inc. 008-69787 000283942 549300HN4UKV1E2R3U73 465724514.46999999 CITIGROUP INC. N/A N/A 6SHGI4ZSSLCXXQSBB395 356595809.28999999 4594440318.61999977 N 326892572.38 Committed 4300000000.00000000 N N N VANGUARD CORE-PLUS BOND FUND S000073843 54930070Z3KP1PKY7839 N 2 0 0 N/A N N N N N/A N/A N/A Rule 18f-4(f)(17 CFR 270.18f-4(f)) Rule 32a-4 (17 CFR 270.32a-4) Rule 18f-4 (17 CFR 270.18f-4) N N N N The Vanguard Group, Inc. 801-11953 000105958 5493002789CX3L0CJP65 N The Vanguard Group, Inc. 084-00772 5493002789CX3L0CJP65 Y N N ICE Data Pricing and Reference Data LLC 5493000NQ9LYLDBCTL34 N London Stock Exchange Group (LSEG) 20-4530702 TIN N Bloomberg Finance LP 5493001KJTIIGC8Y1R12 N ITG Analytics Inc 41-2190282 TIN N S&P Global Limited 98-0634017 TIN GB N JPMorgan Chase Bank 7H6GLXDRUGQFU57RNE97 N N Bank Handlowy w Warszawie SA XLEZHWWOI4HFQDGL4793 PL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UniCredit Bank Czech Republic and Slovakia as KR6LSKV3BTSJRD41IF75 CZ N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank Ltd RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA New Zealand Branch 7H6GLXDRUGQFU57RNE97 NZ N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) COMMERCIAL BANK JP MORGAN BANK INTERNATIONAL LIMITED LIABILITY COMPANY 549300B831LSRSI6RA15 RU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB publ F3JS33DEI6XQ4ZBPTN86 SE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP Paribas SA Athens Branch R0MUWSFPU8MPRO8K5P83 GR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SA DISTRIBUIDORA DE TITULOS E VALORES MOBILIARIOS 5493001LS7J56NZZ3G07 BR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Euroclear 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) CLEARSTREAM BANKING SA 549300OL514RA0SXJJ44 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) JPMorgan Chase Bank NA Hong Kong Branch 7H6GLXDRUGQFU57RNE97 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB publ Oslofilialen F3JS33DEI6XQ4ZBPTN86 NO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 DK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank del Peru SA MYTK5NHHP1G8TVFGT193 PE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Banco Santander Chile 3YJP8HORPAEXJ80D6368 CL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) FirstRand Bank Limited ZAYQDKTCATIXF9OQY690 ZA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Banco Nacional De Mexico SA Integrante Del Grupo Financiero Banamex 2SFFM4FUIE05S37WFU55 MX N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) HSBC Argentina Bank SA 549300K52NF2S4SQDO82 AR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank AG Hungary Branch 7LTWFZYICNSX8D621K86 HU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP PARIBAS SA R0MUWSFPU8MPRO8K5P83 PT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) CITITRUST COLOMBIA SA SOCIEDAD FIDUCIARIA 549300242J3IJCOSGI49 CO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) CITIBANK NA EGYPT E57ODZWZ7FF32TWEFA76 EG N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank Korea Limited NUXTG47HHHM1K2L0SG39 KR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Hongkong and Shanghai Banking Corporation Limited Philippine Branch 2HI3YI5320L3RW6NJ957 PH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB publ Helsingforsfilialen F3JS33DEI6XQ4ZBPTN86 FI N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank Thai Public Company Limited 549300O1LQYCQ7G1IM57 TH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) HSBC Bank Malaysia Berhad P3RPN9OJFCXUPJWB1Q09 MY N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) DBS Bank Ltd ATUEL7OJR5057F2PV266 SG N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank Europe plc Dublin Romania Branch N1FBEDJ5J41VKZLO2475 RO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP PARIBAS SA SUCCURSALE ITALIA R0MUWSFPU8MPRO8K5P83 IT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Bank Leumi leIsrael BM 7JDSZWRGUQY2DSTWCR57 IL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank AG 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) PT Bank HSBC Indonesia 213800HW5IDIRLWH1203 ID N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 NL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UNICREDIT BANK CZECH REPUBLIC AND SLOVAKIA AS POBOCKA ZAHRANICNEJ BANKY KR6LSKV3BTSJRD41IF75 SK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Royal Bank of Canada ES7IP3U3RHIGC71XBU11 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP Morgan Saudi Arabia Company 549300HST49806XTCK29 SA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP PARIBAS SA R0MUWSFPU8MPRO8K5P83 BE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Euroclear 549300OZ46BRLZ8Y6F65 IE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) Citibank AS CWZ8NZDH5SKY12Q4US31 TR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) The Hongkong And Shanghai Banking Corporation Limited 2HI3YI5320L3RW6NJ957 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N The Vanguard Group, Inc. 5493002789CX3L0CJP65 Y N N JPMORGAN CHASE BANK, N.A. 7H6GLXDRUGQFU57RNE97 N Y THE VANGUARD GROUP, INC. 5493002789CX3L0CJP65 Y N N 0.00000000 Mizuho Securities USA Inc 008-37710 000019647 5493004GRDTUI7EMIZ82 718258924.82999999 Wells Fargo Securities, LLC 008-22947 000007665 VYVVCKR63DVZZN70PB21 216202831.23999999 Vanguard Market Liquidity Fund N/A N/A 1I6HV0TLSTR3A4XQ6L78 618293075.00000000 BNP Paribas Securities Corp. 008-32682 000015794 RCNB6OTYUAMMP879YW96 99702233.26999999 Goldman Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 739387928.96999999 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 449462390.20999996 CITIGROUP INC. N/A N/A 6SHGI4ZSSLCXXQSBB395 361014933.04000002 BofA Securities, Inc. 008-69787 000283942 549300HN4UKV1E2R3U73 872664309.67000001 Morgan Stanley & Co. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 1332645835.65000002 Barclays Capital Inc. 008-41342 000019714 AC28XWWI3WIBK2824319 738765068.22000006 6707440264.65999993 N 508591251.85083333 Committed 4300000000.00000000 N N N N VANGUARD INSTITUTIONAL INTERMEDIATE-TERM BOND FUND S000049658 549300F61ZC0PFW4VL39 N 1 0 0 N/A N N N N N/A N/A N/A Rule 18f-4(f)(17 CFR 270.18f-4(f)) Rule 32a-4 (17 CFR 270.32a-4) Rule 18f-4 (17 CFR 270.18f-4) N N N N The Vanguard Group, Inc. 801-11953 000105958 5493002789CX3L0CJP65 N The Vanguard Group, Inc. 084-00772 5493002789CX3L0CJP65 Y N N JPMorgan Chase Bank 7H6GLXDRUGQFU57RNE97 N ICE Data Pricing and Reference Data LLC 5493000NQ9LYLDBCTL34 N S&P Global Limited 98-0634017 TIN GB N Bloomberg Finance LP 5493001KJTIIGC8Y1R12 N London Stock Exchange Group (LSEG) 20-4530702 TIN N ITG Analytics Inc 41-2190282 TIN N N JPMorgan Chase Bank NA New Zealand Branch 7H6GLXDRUGQFU57RNE97 NZ N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JP MORGAN SE LUXEMBOURG BRANCH 549300ZK53CNGEEI6A29 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Royal Bank of Canada ES7IP3U3RHIGC71XBU11 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB publ F3JS33DEI6XQ4ZBPTN86 SE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank Ltd RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Skandinaviska Enskilda Banken AB publ Oslofilialen F3JS33DEI6XQ4ZBPTN86 NO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank NA 7H6GLXDRUGQFU57RNE97 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N The Vanguard Group, Inc. 5493002789CX3L0CJP65 Y N N THE VANGUARD GROUP, INC. 5493002789CX3L0CJP65 Y N JPMorgan Chase Bank, N.A. 7H6GLXDRUGQFU57RNE97 N Y N 0.00000000 Barclays Capital Inc. 008-41342 000019714 AC28XWWI3WIBK2824319 14574310655.62000076 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 16926947644.85999900 Vanguard Market Liquidity Fund N/A N/A 1I6HV0TLSTR3A4XQ6L78 20311527917.00000000 CITIGROUP INC. N/A N/A 6SHGI4ZSSLCXXQSBB395 7334821949.50000009 Wells Fargo Securities, LLC 008-22947 000007665 VYVVCKR63DVZZN70PB21 9058493015.95000023 Goldman Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 28677497570.23000104 BofA Securities, Inc. 008-69787 000283942 549300HN4UKV1E2R3U73 27206736147.88000031 Mizuho Securities USA Inc 008-37710 000019647 5493004GRDTUI7EMIZ82 19668444890.43999997 Morgan Stanley & Co. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 37888315975.64999958 Citadel Securities LLC 008-53574 000116797 12UUJYTN7D3SW8KCSG25 7423594547.88000010 206892307606.29000088 N 31113968490.54000000 Committed 4300000000.00000000 N N N N VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND S000038501 Y 25000.00000000 0.03132066 0.15772253 0.96867933 0.15772253 0.01195777 0.01964111 0.98804222 0.01964111 24.35897436 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 25.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N VANGUARD CORE-PLUS BOND ETF S000083198 Y 5000.00000000 0.97600549 0.08311450 0.02399450 0.08311450 1.00005953 0.00003548 -0.00005950 0.00003548 150.00000000 0.00000000 0.96114460 150.00000000 0.00000000 0.97397789 150.00000000 0.00000000 0.00000000 150.00000000 0.00000000 0.00000000 N VANGUARD CORE BOND ETF S000083197 Y 5000.00000000 0.96568560 0.11867365 0.03431439 0.11867365 1.00004575 0.00001620 -0.00004580 0.00001620 149.07975460 0.00000000 0.95713376 149.00000000 0.00000000 0.96794332 150.00000000 0.00000000 0.00000000 150.00000000 0.00000000 0.00000000 N true