|
| Report |
| | |
| | | Registrant: Vanguard Valley Forge Funds — List all N-SARs |
| | | Annual Report for the 2nd-half period ended at fiscal year end: 12/31/08 |
| | | Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info |
| | | Was the Answer File completed by the Registrant? Yes |
| | | Is this an Amendment to a previous Report? No |
| | | Is this a change to a previous Report? No |
|
| Registrant |
| | |
| 1. | | SEC CIK: 889519 |
| | | SEC File #: 811-58431 |
| | | Telephone #: 610-669-1000 |
|
| 2. | | Address: 100 Vanguard Boulevard |
| | | Malvern, PA 19355 |
|
| 3. | | Is this the first Form N-SAR filed by the Registrant? No |
|
| 4. | | Is this the final Form N-SAR filed by the Registrant? No |
|
| |
| | | |
| 7. | | Is the Registrant a Funds/Series (multiple portfolios) company? Yes |
| | | The number of separate Funds/Series (portfolios) at period end: 4 |
| | | The number of separate Funds/Series (portfolios) reported here: 4... |
| | |
|
↓ | Series 1: Vanguard Balanced Index Fund — S#2560 ⇒ VBIAX & 3 more |
↓ | Series 4: Vanguard Managed Payout Dist Focus Fund [ renamed Vanguard Managed Payout Distribution Focus Fund ] — S#19762 ⇒ VPDFX |
↓ | Series 3: Vanguard Managed Payout Growth & Dist Fund [ now Vanguard Managed Allocation Fund ] — S#19761 ⇒ VPGDX |
↓ | Series 2: Vanguard Managed Payout Growth Focus Fund — S#19760 ⇒ VPGFX |
|
| Investment Company Type |
| | |
| 27. | | Is the Registrant an “open-end” investment company? Yes, Open-End |
|
| Additional Disclosures |
| | |
| 77. | | Did the Registrant file any additional Exhibits with the filing of this Report (listed here and filed either herewith — as one of the ‘EX-99.*’ ↑Exhibits in this Filing — or separately and incorporated by reference)? Yes |
| | | EX-99.77B: Accountant’s Report re: Internal Controls? Yes |
| | | EX-99.77Q1: Other Disclosure? Yes |
| | | EX-99.77Q3: Other Info? Yes |
|
| Subsidiaries |
| | |
| 78. | | Does the Registrant have any wholly-owned investment company subsidiaries whose operating and financial data are consolidated with that of the Registrant in this Report? No |
|
All Series | ↑List of 4 Funds/Series Reported Here |
| | | Information Common to All Funds/Series |
|
All: | Administrator |
| | |
| 10.1 | | Name: The Vanguard Group, Inc. |
| | | SEC File #: 801-11953 |
| | | Location: Malvern, PA |
|
All: | Principal Underwriter |
| | |
| 11.1 | | Name: Vanguard Marketing Corp. |
| | | SEC File #: 008-21570 |
| | | Location: Malvern, PA |
|
All: | Shareholder Servicing/Transfer Agent |
| | |
| 12.1 | | Name: The Vanguard Group, Inc. |
| | | SEC File #: 084-00772 |
| | | Location: Malvern, PA |
|
All: | Independent Public Accountant |
| | |
| 13.1 | | Name: Pricewaterhousecoopers LLP |
| | | Location: Philadelphia, PA |
|
All: | Affiliated Broker/Dealer |
| | |
| 14.1 | | Name: Vanguard Marketing Corp. |
| | | SEC File #: 008-21570 |
|
All: | Brokerage Commissions Paid on Portfolio Transactions |
| | |
| 20. | | The brokers who received the largest amount of gross brokerage commissions during the period: |
| 20.1 | | Broker: Morgan Stanley |
| | | IRS #: 13-2655998 |
| | | Commissions paid ($000s): 76 |
|
| 20.2 | | Broker: UBS Securities LLC. |
| | | IRS #: 13-3873456 |
| | | Commissions paid ($000s): 62 |
|
| 20.3 | | Broker: Banc of America Securities LLC |
| | | IRS #: 56-2058405 |
| | | Commissions paid ($000s): 51 |
|
| 20.4 | | Broker: Citigroup Global Markets Inc. |
| | | IRS #: 13-2919773 |
| | | Commissions paid ($000s): 36 |
|
| 20.5 | | Broker: Itg, Inc. |
| | | IRS #: 95-4339369 |
| | | Commissions paid ($000s): 34 |
|
| 20.6 | | Broker: Credit Suisse Securities (USA) LLC |
| | | IRS #: 13-5659485 |
| | | Commissions paid ($000s): 24 |
|
| 20.7 | | Broker: J.P. Morgan Securities Inc. |
| | | IRS #: 13-3224016 |
| | | Commissions paid ($000s): 21 |
|
| 20.8 | | Broker: Merrill Lynch, Pierce, Fenner & Smith Inc. |
| | | IRS #: 13-5674085 |
| | | Commissions paid ($000s): 16 |
|
| 20.9 | | Broker: Cantor Fitzgerald & Co. |
| | | IRS #: 13-3680184 |
| | | Commissions paid ($000s): 16 |
|
| 20.10 | | Broker: Goldman, Sachs & Co. |
| | | IRS #: 13-5108880 |
| | | Commissions paid ($000s): 7 |
|
| 21. | | Total brokerage commissions paid by the Registrant during the period: Aggregate paid ($000s): 355 |
|
All: | Portfolio Transactions with Entities Acting as Principals |
| | |
| 22. | | The entities acting as principals with whom the Registrant did the largest amount of portfolio transactions, based on total value of principal, during the period: |
| 22.1 | | Entity: Vanguard Market Liquidity Fund |
| | | IRS #: 20-0961056 |
| | | Registrant’s purchases ($000s): 2,529,697 |
| | | Registrant’s sales ($000s): 2,506,692 |
|
| 22.2 | | Entity: Barclays Capital Inc. |
| | | IRS #: 13-3410233 |
| | | Registrant’s purchases ($000s): 739,168 |
| | | Registrant’s sales ($000s): 829,467 |
|
| 22.3 | | Entity: Greenwich Capital Markets, Inc. |
| | | IRS #: 13-3172275 |
| | | Registrant’s purchases ($000s): 523,374 |
| | | Registrant’s sales ($000s): 659,299 |
|
| 22.4 | | Entity: BNP Paribas Securities Corp. |
| | | IRS #: 13-3235334 |
| | | Registrant’s purchases ($000s): 214,686 |
| | | Registrant’s sales ($000s): 463,790 |
|
| 22.5 | | Entity: Banc of America Securities LLC |
| | | IRS #: 56-2058405 |
| | | Registrant’s purchases ($000s): 292,210 |
| | | Registrant’s sales ($000s): 376,364 |
|
| 22.6 | | Entity: J.P. Morgan Securities Inc. |
| | | IRS #: 13-3224016 |
| | | Registrant’s purchases ($000s): 251,996 |
| | | Registrant’s sales ($000s): 182,224 |
|
| 22.7 | | Entity: Goldman, Sachs & Co. |
| | | IRS #: 13-5108880 |
| | | Registrant’s purchases ($000s): 224,662 |
| | | Registrant’s sales ($000s): 148,034 |
|
| 22.8 | | Entity: Merrill Lynch, Pierce, Fenner & Smith Inc. |
| | | IRS #: 13-5674085 |
| | | Registrant’s purchases ($000s): 124,084 |
| | | Registrant’s sales ($000s): 217,944 |
|
| 22.9 | | Entity: Citigroup Global Markets Inc. |
| | | IRS #: 13-2919773 |
| | | Registrant’s purchases ($000s): 198,847 |
| | | Registrant’s sales ($000s): 100,592 |
|
| 22.10 | | Entity: Credit Suisse Securities (USA) LLC |
| | | IRS #: 13-5659485 |
| | | Registrant’s purchases ($000s): 136,378 |
| | | Registrant’s sales ($000s): 147,376 |
|
| 23. | | Total purchase/sale transactions by the Registrant during the period: Aggregate purchases ($000s): 6,250,627 |
| | | Aggregate sales ($000s): 6,639,647 |
|
All: | Considerations which Affected the Participation of Brokers or Dealers |
| | |
| 26. | | Considerations which affected the participation of brokers or dealers or other entities in commissions or other compensation paid on portfolio transactions of the Registrant:
Consideration? |
| | | Sales of the Registrant’s/Series’ shares ............................... No |
| | | Receipt of investment research and statistical info .................... Yes |
| | | Receipt of quotations for portfolio valuations ......................... No |
| | | Ability to execute portfolio transactions to obtain the best price and execution ........................................................ Yes |
| | | Receipt of telephone line and wire services ............................ No |
| | | Broker or Dealer which is an affiliated person ......................... No |
| | | An arrangement to return or credit part or all of commissions or profits thereon... To an Investment Adviser or Principal Underwriter, or to an affiliated person of either ...................................... No |
| | | To the Registrant .................................................. No |
| | | Other .................................................................. No |
|
All: | Fidelity Bond in Effect at Fiscal Year End |
| | |
| 80. | | Insurer: ICI Mutual Insurance Co. |
| | | 2nd Insurer: None |
| | | Aggregate face amount of coverage for the Registrant/Series on all bonds on which it is named as an insured ($000s): 400,000 |
|
| 81. | | Is the bond part of a joint fidelity bond(s) shared with other investment companies or other entities? Yes |
| | | How many other investment companies or other entities are covered by the bond (counting each Fund/Series as a separate investment company): 202 |
|
| 82. | | Does the mandatory coverage of the fidelity bond have a deductible? No |
|
| 83. | | Were any claims with respect to this Registrant/Series filed under the bond during the period? No |
|
| 84. | | Were any losses incurred with respect to this Registrant/Series that could have been filed as a claim under the fidelity bond but were not? No |
|
| 85. | | Are the Registrant’s/Series’ Officers and Directors covered as Officers and Directors of the Registrant/Series under any errors and omissions insurance policy owned by the Registrant/Series or anyone else? Yes |
| | | Were any claims filed under such policy during the period with respect to the Registrant/Series? No |
|
Series 1 | ↑Information Common to All Funds/Series ↑List of 4 Funds/Series |
|
| 7. | | Name: Vanguard Balanced Index Fund — S#2560 ⇒ VBIAX & 3 more |
| | | Is this the final Form N-SAR filed for this Fund/Series? No |
|
S 1: | Investment Adviser |
| | |
| 8.1 | | Name: The Vanguard Group, Inc. |
| | | Role: Adviser |
| | | SEC File #: 801-11953 |
| | | Location: Malvern, PA |
|
S 1: | Custodian |
| | |
| 15.1 | | Name: U.S. Bank NA |
| | | Role: Custodian |
| | | Location: Philadelphia, PA |
| | | Type of custody: Section 17(f)(1) — Bank |
|
| 18. | | Does the Registrant’s/Series’ Custodian(s) maintain some or all of the Registrant’s/Series’ securities in a central depository or book-entry system pursuant to Rule 17f-4? Yes |
|
S 1: | Family of Investment Companies |
| | |
| 19. | | Is the Registrant/Series part of a “family” of investment companies? Yes |
| | | Total number of registered management investment companies, Series and portfolios (excluding any Unit Investment Trusts) in the family: 155 |
| | | The Identification Code of the family for Form N-SAR Filings: VANGUARDGR |
|
S 1: | Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers |
| | |
| 24. | | At period end, did the Registrant/Series hold any securities of the Registrant’s/Series’ regular brokers or dealers, or of the parents of such brokers or dealers, that derive more than 15% of gross revenue from securities-related activities? Yes |
| 25. | | The brokers or dealers, or their parents (issuers): |
| 25.1 | | Name: (See a prior Form N-SAR for who was...) Deleted |
|
| 25.2 | | Name: Goldman, Sachs & Co. |
| | | IRS #: 13-5108880 |
| | | Type of security owned: Equity |
| | | Value of securities owned at period end ($000s): 15,261 |
|
| 25.3 | | Name: Goldman, Sachs & Co. |
| | | IRS #: 13-5108880 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 15,320 |
|
| 25.4 | | Name: Greenwich Capital Markets, Inc. |
| | | IRS #: 13-3172275 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 4,490 |
|
| 25.5 | | Name: (See a prior Form N-SAR for who was...) Deleted |
|
| 25.6 | | Name: Morgan Stanley |
| | | IRS #: 13-2655998 |
| | | Type of security owned: Equity |
| | | Value of securities owned at period end ($000s): 7,411 |
|
| 25.7 | | Name: Morgan Stanley |
| | | IRS #: 13-2655998 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 22,498 |
|
| 25.8 | | Name: Citigroup Global Markets Inc. |
| | | IRS #: 13-2919773 |
| | | Type of security owned: Equity |
| | | Value of securities owned at period end ($000s): 16,874 |
|
| 25.9 | | Name: Citigroup Global Markets Inc. |
| | | IRS #: 13-2919773 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 21,617 |
|
| 25.10 | | Name: (See a prior Form N-SAR for who was...) Deleted |
|
| 25.11 | | Name: (See a prior Form N-SAR for who was...) Deleted |
|
| 25.12 | | Name: Banc of America Securities LLC |
| | | IRS #: 56-2058405 |
| | | Type of security owned: Equity |
| | | Value of securities owned at period end ($000s): 32,828 |
|
| 25.13 | | Name: Banc of America Securities LLC |
| | | IRS #: 56-2058405 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 18,551 |
|
| 25.14 | | Name: J.P. Morgan Securities Inc. |
| | | IRS #: 13-3224016 |
| | | Type of security owned: Equity |
| | | Value of securities owned at period end ($000s): 53,643 |
|
| 25.15 | | Name: J.P. Morgan Securities Inc. |
| | | IRS #: 13-3224016 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 26,594 |
|
| 25.16 | | Name: Credit Suisse Securities (USA) LLC |
| | | IRS #: 13-5659485 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 17,070 |
|
| 25.17 | | Name: UBS Securities LLC |
| | | IRS #: 13-3873456 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 1,330 |
|
| 25.18 | | Name: Merrill Lynch, Pierce, Fenner & Smith Inc. |
| | | IRS #: 13-5674085 |
| | | Type of security owned: Equity |
| | | Value of securities owned at period end ($000s): 8,230 |
|
| 25.19 | | Name: Merrill Lynch, Pierce, Fenner & Smith Inc. |
| | | IRS #: 13-5674085 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 15,890 |
|
| 25.20 | | Name: (See a prior Form N-SAR for who was...) Deleted |
|
| 25.21 | | Name: (See a prior Form N-SAR for who was...) Deleted |
|
| 25.22 | | Name: Barclays Capital Inc. |
| | | IRS #: 13-3410233 |
| | | Type of security owned: Debt |
| | | Value of securities owned at period end ($000s): 223 |
|
| 25.23 | | Name: (See a prior Form N-SAR for who was...) Deleted |
|
S 1: | Sales and Repurchases |
| | |
| 28. | | Monthly total Net Asset Value (NAV) of sales and repurchases of the Registrant’s/Series’ shares: |
| | | 1st Month of period: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 99,836 |
|
| | | Reinvestment of dividends and distributions ................ | – |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 176,101 |
|
| | | 2nd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 86,243 |
|
| | | Reinvestment of dividends and distributions ................ | – |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 126,819 |
|
| | | 3rd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 239,519 |
|
| | | Reinvestment of dividends and distributions ................ | 62,482 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 186,625 |
|
| | | 4th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 118,369 |
|
| | | Reinvestment of dividends and distributions ................ | – |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 240,921 |
|
| | | 5th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 241,667 |
|
| | | Reinvestment of dividends and distributions ................ | – |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 122,133 |
|
| | | 6th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 119,405 |
|
| | | Reinvestment of dividends and distributions ................ | 67,797 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 156,981 |
|
| | | Total of all months: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 905,039 |
|
| | | Reinvestment of dividends and distributions ................ | 130,279 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 1,009,580 |
|
| | | Total NAV of the Registrant’s/Series’ share sales during the period subject to a sales load ($000s): 0 |
|
S 1: | Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance) |
| | |
| 29. | | Was a front-end sales load deducted from any share sales during the period? No |
|
| 34. | | Did the Registrant/Series impose a deferred or contingent deferred sales load during the period? No |
|
| 37. | | Did the Registrant/Series impose a redemption fee other than a deferred or contingent sales load during the period? No |
|
| 39. | | Were any account maintenance fees or other administrative fees imposed directly on shareholders during the period? Yes |
|
S 1: | Payment Plan for the Distribution of Fund Shares |
| | |
| 40. | | During the period, did the Registrant/Series have a plan of distribution adopted pursuant to Rule 12b-1? No |
|
S 1: | Advisory Fee |
| | |
| 45. | | Did the Registrant/Series have an advisory contract during the period? No |
|
S 1: | Miscellaneous Info |
| | |
| 55. | | Did the Registrant/Series have any of the following outstanding at any time during the period which exceeded 1% of aggregate net assets: |
| | | Overdrafts? No |
| | | Bank loans? No |
|
| 56. | | During the period, did the Registrant’s/Series’ Investment Adviser(s) have advisory clients other than investment companies? Yes |
|
| 57. | | Did the Registrant/Series adjust the number of its shares outstanding by means of a stock split or stock dividend? No |
|
S 1: | Classification and Asset Allocation |
| | |
| 58. | | Is the Registrant/Series a Separate Account of an insurance company? No |
|
| 59. | | Is the Registrant/Series a management investment company? Yes |
|
| 60. | | Was the Registrant/Series a diversified investment company at any time during the period? Yes |
| | | Was the Registrant/Series a diversified investment company at the end of the period? Yes |
|
| 61. | | The lowest minimum initial investment required by the Registrant/Series from an investor that is not an employee or otherwise affiliated with the Registrant/Series, its Investment Adviser, Principal Underwriter or other affiliated entity: $3,000 |
|
| 62. | | Does the Registrant/Series invest primarily in debt securities, including convertible debt securities, options & futures on debt securities or indices of debt securities? No |
|
| 66. | | Is the Registrant/Series a Fund that usually invests in equity securities, options & futures on equity securities, indices of equity securities or securities convertible into equity securities? Yes |
| | | Which best describes its primary investment objective:
Aggressive capital appreciation? No |
| | | Capital appreciation? No |
| | | Growth? No |
| | | Growth and income? No |
| | | Income? No |
| | | Total return? Yes |
|
| 67. | | Is the Registrant/Series a “balanced” Fund? Yes |
|
| 68. | | Does the Registrant/Series have more than 50% of its net assets at period end invested in the securities of issuers... Engaged primarily in production or distribution of precious metals? No |
| | | Located primarily in countries other than the United States? No |
|
| 69. | | Is the Registrant/Series an index Fund? Yes |
|
S 1: | Investment Practices |
| | |
| 70. | | Activities that are permitted by the Registrant’s/Series’ investment policies, and which were engaged in during the period:
Activity Permitted Engaged In |
| | | Writing or investing in repurchase agreements? Yes No |
| | | Writing or investing in options on equities? Yes No |
| | | Writing or investing in options on debt securities? Yes No |
| | | Writing or investing in options on stock indices? Yes No |
| | | Writing or investing in interest rate futures? Yes No |
| | | Writing or investing in stock index futures? Yes to both |
| | | Writing or investing in options on futures? Yes No |
| | | Writing or investing in options on stock index futures? Yes No |
| | | Writing or investing in other commodity futures? No – |
| | | Investments in restricted securities? Yes to both |
| | | Investments in shares of other investment companies? Yes to both |
| | | Investments in securities of foreign issuers? Yes to both |
| | | Currency exchange transactions? No – |
| | | Loaning portfolio securities? Yes to both |
| | | Borrowing of money? Yes No |
| | | Purchases/sales by certain exempted affiliated persons? Yes to both |
| | | Margin purchases? No – |
| | | Short selling? No – |
|
S 1: | Portfolio Turnover |
| | |
| 71. | | Portfolio turnover rate for the period: |
| | | Purchases ($000s): 4,417,995 |
| | | Sales ($000s): 4,460,305 |
| | | Monthly average Value of portfolio ($000s): 8,753,384 |
| | | Percent turnover (lesser of Purchases or Sales, divided by Value): 50% |
|
S 1: | Financial Info — Income and Expenses |
| | |
| 72. | | The number of months covered by the values in Items 72 and 73: 12 |
| | | Income ($000s) Net interest income .............................................. | 177,089 |
|
| | | Net dividend income .............................................. | 110,542 |
|
| | | Account maintenance fees ......................................... | – |
|
| | | Net other income ................................................. | 2,454 |
|
| | | Expenses ($000s) Advisory fees .................................................... | 266 |
|
| | | Administrator fees ............................................... | 3,807 |
|
| | | Salaries and other compensation .................................. | – |
|
| | | Shareholder Servicing Agent fees ................................. | 4,643 |
|
| | | Custodian fees ................................................... | 274 |
|
| | | Postage .......................................................... | – |
|
| | | Printing expenses ................................................ | 146 |
|
| | | Directors’ fees .................................................. | 13 |
|
| | | Registration fees ................................................ | – |
|
| | | Taxes ............................................................ | – |
|
| | | Interest ......................................................... | – |
|
| | | Bookkeeping fees paid to anyone performing this service .......... | – |
|
| | | Auditing fees .................................................... | 34 |
|
| | | Legal fees ....................................................... | – |
|
| | | Marketing/distribution payments, incl. Rule 12b-1 plan payments .. | 2,262 |
|
| | | Amortization of organization expenses ............................ | – |
|
| | | Shareholder meeting expenses ..................................... | – |
|
| | | Other expenses ................................................... | – |
|
| | | Total expenses ................................................... | 11,445 |
|
| | | Expense reimbursements ($000s): 0 |
| | | Net investment income ($000s): 278,640 |
| | | Realized capital gains ($000s): 133,022 |
| | | Realized capital losses ($000s): 227,511 |
| | | Net unrealized appreciation during the period ($000s): 0 |
| | | Net unrealized depreciation during the period ($000s): 2,318,617 |
| | | Total income dividends for which the record date passed during the period ($000s): 0 |
| | | Total capital gains distributions for which the record date passed during the period ($000s): 0 |
|
| 73. | | Distributions per share for which the record date passed during the period, shown in fractions of a cent, if so declared:
Dividends from net investment income: $0.0000 |
| | | Distribution of capital gains: $0.0000 |
| | | Other distributions: $0.0000 |
|
S 1: | Financial Info — Condensed Balance Sheet Data |
| | |
| 74. | | Assets ($000s) |
| | | Cash ............................................................. | 124 |
|
| | | Repurchase agreements ............................................ | – |
|
| | | Short-term debt securities, other than repurchase agreements ..... | 9,545 |
|
| | | Long-term debt securities, including convertible debt ............ | 2,879,081 |
|
| | | Preferred, conv. preferred and adjustable-rate preferred stock ... | – |
|
| | | Common stock ..................................................... | 4,445,708 |
|
| | | Options on equities .............................................. | – |
|
| | | Options on all futures ........................................... | – |
|
| | | Other investments ................................................ | 115,702 |
|
| | | Receivables from portfolio instruments sold ...................... | 11,474 |
|
| | | Receivables from affiliated persons .............................. | – |
|
| | | Other receivables ................................................ | 51,690 |
|
| | | All other assets ................................................. | – |
|
| | | Total assets ..................................................... | 7,513,324 |
|
| | | Liabilities ($000s) Payables for portfolio instruments purchased ..................... | 37,868 |
|
| | | Amounts owed to affiliated persons ............................... | 15,246 |
|
| | | Senior long-term debt ............................................ | – |
|
| | | Other liabilities: Reverse repurchase agreements .................................. | – |
|
| | | Short sales .................................................... | – |
|
| | | Written options ................................................ | – |
|
| | | All other liabilities .......................................... | 33,262 |
|
| | | Equity ($000s) Senior equity .................................................... | – |
|
| | | Net assets of common shareholders ................................ | 7,426,948 |
|
| | | Number of shares outstanding (000s): 0 |
| | | Net Asset Value (NAV) per share (to nearest cent): $0.00 |
| | | Total number of shareholder accounts: 187,213 |
| | | Total value of assets in segregated accounts ($000s): 2,997 |
|
| 75. | | Monthly average net assets during the period ($000s): 8,838,339 |
|
Series 2 | ↑Information Common to All Funds/Series ↑List of 4 Funds/Series |
|
| 7. | | Name: Vanguard Managed Payout Growth Focus Fund — S#19760 ⇒ VPGFX |
| | | Is this the final Form N-SAR filed for this Fund/Series? No |
|
S 2: | Investment Adviser |
| | |
| 8.1 | | Name: The Vanguard Group, Inc. |
| | | Role: Adviser |
| | | SEC File #: 801-11953 |
| | | Location: Malvern, PA |
|
S 2: | Custodian |
| | |
| 15.1 | | Name: Brown Brothers Harriman & Co. |
| | | Role: Custodian |
| | | Location: Boston, MA |
| | | Type of custody: Section 17(f)(1) — Bank |
|
| 18. | | Does the Registrant’s/Series’ Custodian(s) maintain some or all of the Registrant’s/Series’ securities in a central depository or book-entry system pursuant to Rule 17f-4? Yes |
|
S 2: | Family of Investment Companies |
| | |
| 19. | | Is the Registrant/Series part of a “family” of investment companies? Yes |
| | | Total number of registered management investment companies, Series and portfolios (excluding any Unit Investment Trusts) in the family: 155 |
| | | The Identification Code of the family for Form N-SAR Filings: VANGUARDGR |
|
S 2: | Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers |
| | |
| 24. | | At period end, did the Registrant/Series hold any securities of the Registrant’s/Series’ regular brokers or dealers, or of the parents of such brokers or dealers, that derive more than 15% of gross revenue from securities-related activities? No |
|
S 2: | Sales and Repurchases |
| | |
| 28. | | Monthly total Net Asset Value (NAV) of sales and repurchases of the Registrant’s/Series’ shares: |
| | | 1st Month of period: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 4,682 |
|
| | | Reinvestment of dividends and distributions ................ | 86 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 4,998 |
|
| | | 2nd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 3,960 |
|
| | | Reinvestment of dividends and distributions ................ | 88 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 3,482 |
|
| | | 3rd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 3,513 |
|
| | | Reinvestment of dividends and distributions ................ | 95 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 2,155 |
|
| | | 4th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 3,344 |
|
| | | Reinvestment of dividends and distributions ................ | 95 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 5,660 |
|
| | | 5th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 963 |
|
| | | Reinvestment of dividends and distributions ................ | 88 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 1,131 |
|
| | | 6th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 754 |
|
| | | Reinvestment of dividends and distributions ................ | 86 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 1,769 |
|
| | | Total of all months: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 17,216 |
|
| | | Reinvestment of dividends and distributions ................ | 538 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 19,195 |
|
| | | Total NAV of the Registrant’s/Series’ share sales during the period subject to a sales load ($000s): 0 |
|
S 2: | Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance) |
| | |
| 29. | | Was a front-end sales load deducted from any share sales during the period? No |
|
| 34. | | Did the Registrant/Series impose a deferred or contingent deferred sales load during the period? No |
|
| 37. | | Did the Registrant/Series impose a redemption fee other than a deferred or contingent sales load during the period? No |
|
| 39. | | Were any account maintenance fees or other administrative fees imposed directly on shareholders during the period? No |
|
S 2: | Payment Plan for the Distribution of Fund Shares |
| | |
| 40. | | During the period, did the Registrant/Series have a plan of distribution adopted pursuant to Rule 12b-1? No |
|
S 2: | Advisory Fee |
| | |
| 45. | | Did the Registrant/Series have an advisory contract during the period? No |
|
S 2: | Miscellaneous Info |
| | |
| 55. | | Did the Registrant/Series have any of the following outstanding at any time during the period which exceeded 1% of aggregate net assets: |
| | | Overdrafts? Yes |
| | | Bank loans? No |
|
| 56. | | During the period, did the Registrant’s/Series’ Investment Adviser(s) have advisory clients other than investment companies? Yes |
|
| 57. | | Did the Registrant/Series adjust the number of its shares outstanding by means of a stock split or stock dividend? No |
|
S 2: | Classification and Asset Allocation |
| | |
| 58. | | Is the Registrant/Series a Separate Account of an insurance company? No |
|
| 59. | | Is the Registrant/Series a management investment company? Yes |
|
| 60. | | Was the Registrant/Series a diversified investment company at any time during the period? Yes |
| | | Was the Registrant/Series a diversified investment company at the end of the period? Yes |
|
| 61. | | The lowest minimum initial investment required by the Registrant/Series from an investor that is not an employee or otherwise affiliated with the Registrant/Series, its Investment Adviser, Principal Underwriter or other affiliated entity: $25,000 |
|
| 62. | | Does the Registrant/Series invest primarily in debt securities, including convertible debt securities, options & futures on debt securities or indices of debt securities? No |
|
| 66. | | Is the Registrant/Series a Fund that usually invests in equity securities, options & futures on equity securities, indices of equity securities or securities convertible into equity securities? Yes |
| | | Which best describes its primary investment objective:
Aggressive capital appreciation? No |
| | | Capital appreciation? No |
| | | Growth? No |
| | | Growth and income? No |
| | | Income? No |
| | | Total return? Yes |
|
| 67. | | Is the Registrant/Series a “balanced” Fund? No |
|
| 68. | | Does the Registrant/Series have more than 50% of its net assets at period end invested in the securities of issuers... Engaged primarily in production or distribution of precious metals? No |
| | | Located primarily in countries other than the United States? No |
|
| 69. | | Is the Registrant/Series an index Fund? No |
|
S 2: | Investment Practices |
| | |
| 70. | | Activities that are permitted by the Registrant’s/Series’ investment policies, and which were engaged in during the period:
Activity Permitted Engaged In |
| | | Writing or investing in repurchase agreements? Yes No |
| | | Writing or investing in options on equities? Yes No |
| | | Writing or investing in options on debt securities? Yes No |
| | | Writing or investing in options on stock indices? Yes No |
| | | Writing or investing in interest rate futures? Yes No |
| | | Writing or investing in stock index futures? Yes No |
| | | Writing or investing in options on futures? Yes No |
| | | Writing or investing in options on stock index futures? Yes No |
| | | Writing or investing in other commodity futures? Yes No |
| | | Investments in restricted securities? Yes No |
| | | Investments in shares of other investment companies? Yes to both |
| | | Investments in securities of foreign issuers? Yes No |
| | | Currency exchange transactions? Yes No |
| | | Loaning portfolio securities? Yes No |
| | | Borrowing of money? Yes No |
| | | Purchases/sales by certain exempted affiliated persons? Yes No |
| | | Margin purchases? Yes No |
| | | Short selling? Yes No |
|
S 2: | Portfolio Turnover |
| | |
| 71. | | Portfolio turnover rate for the period: |
| | | Purchases ($000s): 82,850 |
| | | Sales ($000s): 29,799 |
| | | Monthly average Value of portfolio ($000s): 43,792 |
| | | Percent turnover (lesser of Purchases or Sales, divided by Value): 68% |
|
S 2: | Financial Info — Income and Expenses |
| | |
| 72. | | The number of months covered by the values in Items 72 and 73: 9 |
| | | Income ($000s) Net interest income .............................................. | 9 |
|
| | | Net dividend income .............................................. | 1,009 |
|
| | | Account maintenance fees ......................................... | – |
|
| | | Net other income ................................................. | – |
|
| | | Expenses ($000s) Advisory fees .................................................... | – |
|
| | | Administrator fees ............................................... | – |
|
| | | Salaries and other compensation .................................. | – |
|
| | | Shareholder Servicing Agent fees ................................. | – |
|
| | | Custodian fees ................................................... | – |
|
| | | Postage .......................................................... | – |
|
| | | Printing expenses ................................................ | – |
|
| | | Directors’ fees .................................................. | – |
|
| | | Registration fees ................................................ | – |
|
| | | Taxes ............................................................ | – |
|
| | | Interest ......................................................... | – |
|
| | | Bookkeeping fees paid to anyone performing this service .......... | – |
|
| | | Auditing fees .................................................... | – |
|
| | | Legal fees ....................................................... | – |
|
| | | Marketing/distribution payments, incl. Rule 12b-1 plan payments .. | – |
|
| | | Amortization of organization expenses ............................ | – |
|
| | | Shareholder meeting expenses ..................................... | – |
|
| | | Other expenses ................................................... | – |
|
| | | Total expenses ................................................... | – |
|
| | | Expense reimbursements ($000s): 0 |
| | | Net investment income ($000s): 1,018 |
| | | Realized capital gains ($000s): 408 |
| | | Realized capital losses ($000s): 3,948 |
| | | Net unrealized appreciation during the period ($000s): 0 |
| | | Net unrealized depreciation during the period ($000s): 16,456 |
| | | Total income dividends for which the record date passed during the period ($000s): 0 |
| | | Total capital gains distributions for which the record date passed during the period ($000s): 0 |
|
| 73. | | Distributions per share for which the record date passed during the period, shown in fractions of a cent, if so declared:
Dividends from net investment income: $0.0000 |
| | | Distribution of capital gains: $0.0000 |
| | | Other distributions: $0.4000 |
|
S 2: | Financial Info — Condensed Balance Sheet Data |
| | |
| 74. | | Assets ($000s) |
| | | Cash ............................................................. | – |
|
| | | Repurchase agreements ............................................ | – |
|
| | | Short-term debt securities, other than repurchase agreements ..... | 1,000 |
|
| | | Long-term debt securities, including convertible debt ............ | – |
|
| | | Preferred, conv. preferred and adjustable-rate preferred stock ... | – |
|
| | | Common stock ..................................................... | – |
|
| | | Options on equities .............................................. | – |
|
| | | Options on all futures ........................................... | – |
|
| | | Other investments ................................................ | 34,588 |
|
| | | Receivables from portfolio instruments sold ...................... | 362 |
|
| | | Receivables from affiliated persons .............................. | – |
|
| | | Other receivables ................................................ | 29 |
|
| | | All other assets ................................................. | – |
|
| | | Total assets ..................................................... | 35,979 |
|
| | | Liabilities ($000s) Payables for portfolio instruments purchased ..................... | 24 |
|
| | | Amounts owed to affiliated persons ............................... | – |
|
| | | Senior long-term debt ............................................ | – |
|
| | | Other liabilities: Reverse repurchase agreements .................................. | – |
|
| | | Short sales .................................................... | – |
|
| | | Written options ................................................ | – |
|
| | | All other liabilities .......................................... | 79 |
|
| | | Equity ($000s) Senior equity .................................................... | – |
|
| | | Net assets of common shareholders ................................ | 35,876 |
|
| | | Number of shares outstanding (000s): 2,728 |
| | | Net Asset Value (NAV) per share (to nearest cent): $13.15 |
| | | Total number of shareholder accounts: 503 |
| | | Total value of assets in segregated accounts ($000s): 0 |
|
| 75. | | Monthly average net assets during the period ($000s): 42,503 |
|
Series 3 | ↑Information Common to All Funds/Series ↑List of 4 Funds/Series |
|
| 7. | | Name: Vanguard Managed Payout Growth & Dist Fund [ now Vanguard Managed Allocation Fund ] — S#19761 ⇒ VPGDX |
| | | Is this the final Form N-SAR filed for this Fund/Series? No |
|
S 3: | Investment Adviser |
| | |
| 8.1 | | Name: The Vanguard Group, Inc. |
| | | Role: Adviser |
| | | SEC File #: 801-11953 |
| | | Location: Malvern, PA |
|
S 3: | Custodian |
| | |
| 15.1 | | Name: Brown Brothers Harriman & Co. |
| | | Role: Custodian |
| | | Location: Boston, MA |
| | | Type of custody: Section 17(f)(1) — Bank |
|
| 18. | | Does the Registrant’s/Series’ Custodian(s) maintain some or all of the Registrant’s/Series’ securities in a central depository or book-entry system pursuant to Rule 17f-4? Yes |
|
S 3: | Family of Investment Companies |
| | |
| 19. | | Is the Registrant/Series part of a “family” of investment companies? Yes |
| | | Total number of registered management investment companies, Series and portfolios (excluding any Unit Investment Trusts) in the family: 155 |
| | | The Identification Code of the family for Form N-SAR Filings: VANGUARDGR |
|
S 3: | Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers |
| | |
| 24. | | At period end, did the Registrant/Series hold any securities of the Registrant’s/Series’ regular brokers or dealers, or of the parents of such brokers or dealers, that derive more than 15% of gross revenue from securities-related activities? No |
|
S 3: | Sales and Repurchases |
| | |
| 28. | | Monthly total Net Asset Value (NAV) of sales and repurchases of the Registrant’s/Series’ shares: |
| | | 1st Month of period: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 22,313 |
|
| | | Reinvestment of dividends and distributions ................ | 218 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 5,950 |
|
| | | 2nd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 16,188 |
|
| | | Reinvestment of dividends and distributions ................ | 237 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 6,152 |
|
| | | 3rd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 13,503 |
|
| | | Reinvestment of dividends and distributions ................ | 257 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 9,632 |
|
| | | 4th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 8,450 |
|
| | | Reinvestment of dividends and distributions ................ | 238 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 12,823 |
|
| | | 5th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 5,105 |
|
| | | Reinvestment of dividends and distributions ................ | 277 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 4,892 |
|
| | | 6th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 5,078 |
|
| | | Reinvestment of dividends and distributions ................ | 292 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 2,701 |
|
| | | Total of all months: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 70,637 |
|
| | | Reinvestment of dividends and distributions ................ | 1,519 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 42,150 |
|
| | | Total NAV of the Registrant’s/Series’ share sales during the period subject to a sales load ($000s): 0 |
|
S 3: | Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance) |
| | |
| 29. | | Was a front-end sales load deducted from any share sales during the period? No |
|
| 34. | | Did the Registrant/Series impose a deferred or contingent deferred sales load during the period? No |
|
| 37. | | Did the Registrant/Series impose a redemption fee other than a deferred or contingent sales load during the period? No |
|
| 39. | | Were any account maintenance fees or other administrative fees imposed directly on shareholders during the period? No |
|
S 3: | Payment Plan for the Distribution of Fund Shares |
| | |
| 40. | | During the period, did the Registrant/Series have a plan of distribution adopted pursuant to Rule 12b-1? No |
|
S 3: | Advisory Fee |
| | |
| 45. | | Did the Registrant/Series have an advisory contract during the period? No |
|
S 3: | Miscellaneous Info |
| | |
| 55. | | Did the Registrant/Series have any of the following outstanding at any time during the period which exceeded 1% of aggregate net assets: |
| | | Overdrafts? Yes |
| | | Bank loans? No |
|
| 56. | | During the period, did the Registrant’s/Series’ Investment Adviser(s) have advisory clients other than investment companies? Yes |
|
| 57. | | Did the Registrant/Series adjust the number of its shares outstanding by means of a stock split or stock dividend? No |
|
S 3: | Classification and Asset Allocation |
| | |
| 58. | | Is the Registrant/Series a Separate Account of an insurance company? No |
|
| 59. | | Is the Registrant/Series a management investment company? Yes |
|
| 60. | | Was the Registrant/Series a diversified investment company at any time during the period? Yes |
| | | Was the Registrant/Series a diversified investment company at the end of the period? Yes |
|
| 61. | | The lowest minimum initial investment required by the Registrant/Series from an investor that is not an employee or otherwise affiliated with the Registrant/Series, its Investment Adviser, Principal Underwriter or other affiliated entity: $25,000 |
|
| 62. | | Does the Registrant/Series invest primarily in debt securities, including convertible debt securities, options & futures on debt securities or indices of debt securities? No |
|
| 66. | | Is the Registrant/Series a Fund that usually invests in equity securities, options & futures on equity securities, indices of equity securities or securities convertible into equity securities? Yes |
| | | Which best describes its primary investment objective:
Aggressive capital appreciation? No |
| | | Capital appreciation? No |
| | | Growth? No |
| | | Growth and income? No |
| | | Income? No |
| | | Total return? Yes |
|
| 67. | | Is the Registrant/Series a “balanced” Fund? No |
|
| 68. | | Does the Registrant/Series have more than 50% of its net assets at period end invested in the securities of issuers... Engaged primarily in production or distribution of precious metals? No |
| | | Located primarily in countries other than the United States? No |
|
| 69. | | Is the Registrant/Series an index Fund? No |
|
S 3: | Investment Practices |
| | |
| 70. | | Activities that are permitted by the Registrant’s/Series’ investment policies, and which were engaged in during the period:
Activity Permitted Engaged In |
| | | Writing or investing in repurchase agreements? Yes No |
| | | Writing or investing in options on equities? Yes No |
| | | Writing or investing in options on debt securities? Yes No |
| | | Writing or investing in options on stock indices? Yes No |
| | | Writing or investing in interest rate futures? Yes No |
| | | Writing or investing in stock index futures? Yes No |
| | | Writing or investing in options on futures? Yes No |
| | | Writing or investing in options on stock index futures? Yes No |
| | | Writing or investing in other commodity futures? Yes No |
| | | Investments in restricted securities? Yes No |
| | | Investments in shares of other investment companies? Yes to both |
| | | Investments in securities of foreign issuers? Yes No |
| | | Currency exchange transactions? Yes No |
| | | Loaning portfolio securities? Yes No |
| | | Borrowing of money? Yes No |
| | | Purchases/sales by certain exempted affiliated persons? Yes No |
| | | Margin purchases? Yes No |
| | | Short selling? Yes No |
|
S 3: | Portfolio Turnover |
| | |
| 71. | | Portfolio turnover rate for the period: |
| | | Purchases ($000s): 242,194 |
| | | Sales ($000s): 87,558 |
| | | Monthly average Value of portfolio ($000s): 119,900 |
| | | Percent turnover (lesser of Purchases or Sales, divided by Value): 73% |
|
S 3: | Financial Info — Income and Expenses |
| | |
| 72. | | The number of months covered by the values in Items 72 and 73: 9 |
| | | Income ($000s) Net interest income .............................................. | 14 |
|
| | | Net dividend income .............................................. | 3,049 |
|
| | | Account maintenance fees ......................................... | – |
|
| | | Net other income ................................................. | – |
|
| | | Expenses ($000s) Advisory fees .................................................... | – |
|
| | | Administrator fees ............................................... | – |
|
| | | Salaries and other compensation .................................. | – |
|
| | | Shareholder Servicing Agent fees ................................. | – |
|
| | | Custodian fees ................................................... | – |
|
| | | Postage .......................................................... | – |
|
| | | Printing expenses ................................................ | – |
|
| | | Directors’ fees .................................................. | – |
|
| | | Registration fees ................................................ | – |
|
| | | Taxes ............................................................ | – |
|
| | | Interest ......................................................... | – |
|
| | | Bookkeeping fees paid to anyone performing this service .......... | – |
|
| | | Auditing fees .................................................... | – |
|
| | | Legal fees ....................................................... | – |
|
| | | Marketing/distribution payments, incl. Rule 12b-1 plan payments .. | – |
|
| | | Amortization of organization expenses ............................ | – |
|
| | | Shareholder meeting expenses ..................................... | – |
|
| | | Other expenses ................................................... | – |
|
| | | Total expenses ................................................... | – |
|
| | | Expense reimbursements ($000s): 0 |
| | | Net investment income ($000s): 3,063 |
| | | Realized capital gains ($000s): 1,140 |
| | | Realized capital losses ($000s): 7,202 |
| | | Net unrealized appreciation during the period ($000s): 0 |
| | | Net unrealized depreciation during the period ($000s): 42,140 |
| | | Total income dividends for which the record date passed during the period ($000s): 0 |
| | | Total capital gains distributions for which the record date passed during the period ($000s): 0 |
|
| 73. | | Distributions per share for which the record date passed during the period, shown in fractions of a cent, if so declared:
Dividends from net investment income: $0.0000 |
| | | Distribution of capital gains: $0.0000 |
| | | Other distributions: $0.6660 |
|
S 3: | Financial Info — Condensed Balance Sheet Data |
| | |
| 74. | | Assets ($000s) |
| | | Cash ............................................................. | – |
|
| | | Repurchase agreements ............................................ | – |
|
| | | Short-term debt securities, other than repurchase agreements ..... | 1,500 |
|
| | | Long-term debt securities, including convertible debt ............ | – |
|
| | | Preferred, conv. preferred and adjustable-rate preferred stock ... | – |
|
| | | Common stock ..................................................... | – |
|
| | | Options on equities .............................................. | – |
|
| | | Options on all futures ........................................... | – |
|
| | | Other investments ................................................ | 113,743 |
|
| | | Receivables from portfolio instruments sold ...................... | 637 |
|
| | | Receivables from affiliated persons .............................. | – |
|
| | | Other receivables ................................................ | 248 |
|
| | | All other assets ................................................. | – |
|
| | | Total assets ..................................................... | 116,128 |
|
| | | Liabilities ($000s) Payables for portfolio instruments purchased ..................... | 598 |
|
| | | Amounts owed to affiliated persons ............................... | – |
|
| | | Senior long-term debt ............................................ | – |
|
| | | Other liabilities: Reverse repurchase agreements .................................. | – |
|
| | | Short sales .................................................... | – |
|
| | | Written options ................................................ | – |
|
| | | All other liabilities .......................................... | 267 |
|
| | | Equity ($000s) Senior equity .................................................... | – |
|
| | | Net assets of common shareholders ................................ | 115,263 |
|
| | | Number of shares outstanding (000s): 8,425 |
| | | Net Asset Value (NAV) per share (to nearest cent): $13.68 |
| | | Total number of shareholder accounts: 1,163 |
| | | Total value of assets in segregated accounts ($000s): 0 |
|
| 75. | | Monthly average net assets during the period ($000s): 115,849 |
|
Series 4 | ↑Information Common to All Funds/Series ↑List of 4 Funds/Series |
|
| 7. | | Name: Vanguard Managed Payout Dist Focus Fund [ renamed Vanguard Managed Payout Distribution Focus Fund ] — S#19762 ⇒ VPDFX |
| | | Is this the final Form N-SAR filed for this Fund/Series? No |
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S 4: | Investment Adviser |
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| 8.1 | | Name: The Vanguard Group, Inc. |
| | | Role: Adviser |
| | | SEC File #: 801-11953 |
| | | Location: Malvern, PA |
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S 4: | Custodian |
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| 15.1 | | Name: Brown Brothers Harriman & Co. |
| | | Role: Custodian |
| | | Location: Boston, MA |
| | | Type of custody: Section 17(f)(1) — Bank |
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| 18. | | Does the Registrant’s/Series’ Custodian(s) maintain some or all of the Registrant’s/Series’ securities in a central depository or book-entry system pursuant to Rule 17f-4? Yes |
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S 4: | Family of Investment Companies |
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| 19. | | Is the Registrant/Series part of a “family” of investment companies? Yes |
| | | Total number of registered management investment companies, Series and portfolios (excluding any Unit Investment Trusts) in the family: 155 |
| | | The Identification Code of the family for Form N-SAR Filings: VANGUARDGR |
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S 4: | Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers |
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| 24. | | At period end, did the Registrant/Series hold any securities of the Registrant’s/Series’ regular brokers or dealers, or of the parents of such brokers or dealers, that derive more than 15% of gross revenue from securities-related activities? No |
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S 4: | Sales and Repurchases |
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| 28. | | Monthly total Net Asset Value (NAV) of sales and repurchases of the Registrant’s/Series’ shares: |
| | | 1st Month of period: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 20,215 |
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| | | Reinvestment of dividends and distributions ................ | 210 |
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| | | Other ...................................................... | – |
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| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 8,484 |
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| | | 2nd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 18,899 |
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| | | Reinvestment of dividends and distributions ................ | 250 |
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| | | Other ...................................................... | – |
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| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 4,538 |
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| | | 3rd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 12,753 |
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| | | Reinvestment of dividends and distributions ................ | 264 |
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| | | Other ...................................................... | – |
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| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 11,569 |
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| | | 4th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 9,772 |
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| | | Reinvestment of dividends and distributions ................ | 262 |
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| | | Other ...................................................... | – |
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| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 10,108 |
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| | | 5th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 2,639 |
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| | | Reinvestment of dividends and distributions ................ | 280 |
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| | | Other ...................................................... | – |
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| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 3,119 |
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| | | 6th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 2,903 |
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| | | Reinvestment of dividends and distributions ................ | 277 |
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| | | Other ...................................................... | – |
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| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 4,089 |
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| | | Total of all months: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 67,181 |
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| | | Reinvestment of dividends and distributions ................ | 1,543 |
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| | | Other ...................................................... | – |
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| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 41,907 |
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| | | Total NAV of the Registrant’s/Series’ share sales during the period subject to a sales load ($000s): 0 |
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S 4: | Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance) |
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| 29. | | Was a front-end sales load deducted from any share sales during the period? No |
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| 34. | | Did the Registrant/Series impose a deferred or contingent deferred sales load during the period? No |
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| 37. | | Did the Registrant/Series impose a redemption fee other than a deferred or contingent sales load during the period? No |
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| 39. | | Were any account maintenance fees or other administrative fees imposed directly on shareholders during the period? No |
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S 4: | Payment Plan for the Distribution of Fund Shares |
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| 40. | | During the period, did the Registrant/Series have a plan of distribution adopted pursuant to Rule 12b-1? No |
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S 4: | Advisory Fee |
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| 45. | | Did the Registrant/Series have an advisory contract during the period? No |
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S 4: | Miscellaneous Info |
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| 55. | | Did the Registrant/Series have any of the following outstanding at any time during the period which exceeded 1% of aggregate net assets: |
| | | Overdrafts? Yes |
| | | Bank loans? No |
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| 56. | | During the period, did the Registrant’s/Series’ Investment Adviser(s) have advisory clients other than investment companies? Yes |
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| 57. | | Did the Registrant/Series adjust the number of its shares outstanding by means of a stock split or stock dividend? No |
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S 4: | Classification and Asset Allocation |
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| 58. | | Is the Registrant/Series a Separate Account of an insurance company? No |
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| 59. | | Is the Registrant/Series a management investment company? Yes |
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| 60. | | Was the Registrant/Series a diversified investment company at any time during the period? Yes |
| | | Was the Registrant/Series a diversified investment company at the end of the period? Yes |
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| 61. | | The lowest minimum initial investment required by the Registrant/Series from an investor that is not an employee or otherwise affiliated with the Registrant/Series, its Investment Adviser, Principal Underwriter or other affiliated entity: $25,000 |
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| 62. | | Does the Registrant/Series invest primarily in debt securities, including convertible debt securities, options & futures on debt securities or indices of debt securities? No |
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| 66. | | Is the Registrant/Series a Fund that usually invests in equity securities, options & futures on equity securities, indices of equity securities or securities convertible into equity securities? Yes |
| | | Which best describes its primary investment objective:
Aggressive capital appreciation? No |
| | | Capital appreciation? No |
| | | Growth? No |
| | | Growth and income? No |
| | | Income? No |
| | | Total return? Yes |
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| 67. | | Is the Registrant/Series a “balanced” Fund? No |
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| 68. | | Does the Registrant/Series have more than 50% of its net assets at period end invested in the securities of issuers... Engaged primarily in production or distribution of precious metals? No |
| | | Located primarily in countries other than the United States? No |
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| 69. | | Is the Registrant/Series an index Fund? No |
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S 4: | Investment Practices |
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| 70. | | Activities that are permitted by the Registrant’s/Series’ investment policies, and which were engaged in during the period:
Activity Permitted Engaged In |
| | | Writing or investing in repurchase agreements? Yes No |
| | | Writing or investing in options on equities? Yes No |
| | | Writing or investing in options on debt securities? Yes No |
| | | Writing or investing in options on stock indices? Yes No |
| | | Writing or investing in interest rate futures? Yes No |
| | | Writing or investing in stock index futures? Yes No |
| | | Writing or investing in options on futures? Yes No |
| | | Writing or investing in options on stock index futures? Yes No |
| | | Writing or investing in other commodity futures? Yes No |
| | | Investments in restricted securities? Yes No |
| | | Investments in shares of other investment companies? Yes to both |
| | | Investments in securities of foreign issuers? Yes No |
| | | Currency exchange transactions? Yes No |
| | | Loaning portfolio securities? Yes No |
| | | Borrowing of money? Yes No |
| | | Purchases/sales by certain exempted affiliated persons? Yes No |
| | | Margin purchases? Yes No |
| | | Short selling? Yes No |
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S 4: | Portfolio Turnover |
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| 71. | | Portfolio turnover rate for the period: |
| | | Purchases ($000s): 192,485 |
| | | Sales ($000s): 75,425 |
| | | Monthly average Value of portfolio ($000s): 91,526 |
| | | Percent turnover (lesser of Purchases or Sales, divided by Value): 82% |
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S 4: | Financial Info — Income and Expenses |
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| 72. | | The number of months covered by the values in Items 72 and 73: 9 |
| | | Income ($000s) Net interest income .............................................. | 11 |
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| | | Net dividend income .............................................. | 2,372 |
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| | | Account maintenance fees ......................................... | – |
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| | | Net other income ................................................. | – |
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| | | Expenses ($000s) Advisory fees .................................................... | – |
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| | | Administrator fees ............................................... | – |
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| | | Salaries and other compensation .................................. | – |
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| | | Shareholder Servicing Agent fees ................................. | – |
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| | | Custodian fees ................................................... | – |
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| | | Postage .......................................................... | – |
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| | | Printing expenses ................................................ | – |
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| | | Directors’ fees .................................................. | – |
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| | | Registration fees ................................................ | – |
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| | | Taxes ............................................................ | – |
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| | | Interest ......................................................... | – |
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| | | Bookkeeping fees paid to anyone performing this service .......... | – |
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| | | Auditing fees .................................................... | – |
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| | | Legal fees ....................................................... | – |
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| | | Marketing/distribution payments, incl. Rule 12b-1 plan payments .. | – |
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| | | Amortization of organization expenses ............................ | – |
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| | | Shareholder meeting expenses ..................................... | – |
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| | | Other expenses ................................................... | – |
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| | | Total expenses ................................................... | – |
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| | | Expense reimbursements ($000s): 0 |
| | | Net investment income ($000s): 2,383 |
| | | Realized capital gains ($000s): 972 |
| | | Realized capital losses ($000s): 5,276 |
| | | Net unrealized appreciation during the period ($000s): 0 |
| | | Net unrealized depreciation during the period ($000s): 30,127 |
| | | Total income dividends for which the record date passed during the period ($000s): 0 |
| | | Total capital gains distributions for which the record date passed during the period ($000s): 0 |
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| 73. | | Distributions per share for which the record date passed during the period, shown in fractions of a cent, if so declared:
Dividends from net investment income: $0.0000 |
| | | Distribution of capital gains: $0.0000 |
| | | Other distributions: $0.9340 |
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S 4: | Financial Info — Condensed Balance Sheet Data |
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| 74. | | Assets ($000s) |
| | | Cash ............................................................. | – |
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| | | Repurchase agreements ............................................ | – |
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| | | Short-term debt securities, other than repurchase agreements ..... | 1,500 |
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| | | Long-term debt securities, including convertible debt ............ | – |
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| | | Preferred, conv. preferred and adjustable-rate preferred stock ... | – |
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| | | Common stock ..................................................... | – |
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| | | Options on equities .............................................. | – |
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| | | Options on all futures ........................................... | – |
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| | | Other investments ................................................ | 88,101 |
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| | | Receivables from portfolio instruments sold ...................... | 612 |
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| | | Receivables from affiliated persons .............................. | – |
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| | | Other receivables ................................................ | 107 |
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| | | All other assets ................................................. | – |
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| | | Total assets ..................................................... | 90,320 |
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| | | Liabilities ($000s) Payables for portfolio instruments purchased ..................... | 89 |
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| | | Amounts owed to affiliated persons ............................... | – |
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| | | Senior long-term debt ............................................ | – |
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| | | Other liabilities: Reverse repurchase agreements .................................. | – |
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| | | Short sales .................................................... | – |
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| | | Written options ................................................ | – |
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| | | All other liabilities .......................................... | 1,058 |
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| | | Equity ($000s) Senior equity .................................................... | – |
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| | | Net assets of common shareholders ................................ | 89,173 |
|
| | | Number of shares outstanding (000s): 6,441 |
| | | Net Asset Value (NAV) per share (to nearest cent): $13.84 |
| | | Total number of shareholder accounts: 893 |
| | | Total value of assets in segregated accounts ($000s): 0 |
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| 75. | | Monthly average net assets during the period ($000s): 87,717 |
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Signature | | ↑Top of Form N-SAR |
| | | |
| | | /s/ Elizabeth Haegele |
| | | Name: Elizabeth Haegele |
| | | Title: Manager |