Vanguard Tax-Managed Funds - Vanguard FTSE Developed Markets ETF
US ˙ ARCA ˙ US9219438580

SecurityVEA / Vanguard Tax-Managed Funds - Vanguard FTSE Developed Markets ETF
InstitutionNorthern Lights Variable Trust - TOPS Conservative ETF Portfolio Class 1 shares
Latest Disclosed Ownership44,243 shares
Latest Disclosed Value $ 2,522,293
Northern Lights Variable Trust - TOPS Conservative ETF Portfolio Class 1 shares reports 5.35% decrease in ownership of VEA / Vanguard Tax-Managed Funds - Vanguard FTSE Developed Markets ETF

On August 26, 2025 - Northern Lights Variable Trust - TOPS Conservative ETF Portfolio Class 1 shares filed a NPORT-P form disclosing ownership of 44,243 shares of Vanguard Tax-Managed Funds - Vanguard FTSE Developed Markets ETF (US:VEA) valued at $2,522,293 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 30, 2025 disclosing 46,742 shares of Vanguard Tax-Managed Funds - Vanguard FTSE Developed Markets ETF. This represents a change in shares of -5.35% during the quarter. The current value of the position is $3,060,288 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-08-26 2025-06-30 NP VANGUARD FTSE ET EC US9219438580 44,243 -2,499 -5.35 2,522 6.19 6.0411
2025-05-30 2025-03-31 NP VANGUARD FTSE ET EC US9219438580 46,742 -1,784 -3.68 2,376 2.37 5.9304
2025-02-28 2024-12-31 NP VANGUARD FTSE ET EC US9219438580 48,526 5,274 12.19 2,321 1.58 6.0052
2024-11-27 2024-09-30 NP VANGUARD FTSE ET EC US9219438580 43,252 368 0.86 2,284 7.79 5.9474
2024-08-29 2024-06-30 NP VANGUARD FTSE ET EC US9219438580 42,884 1,157 2.77 2,119 1.24 6.0108
2024-05-30 2024-03-31 NP VANGUARD FTSE ET EC US9219438580 41,727 199 0.48 2,093 5.23 6.0213
2024-02-27 2023-12-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 41,528 393 0.96 1,989 10.62 5.9998
2023-11-29 2023-09-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 41,135 9,153 28.62 1,798 21.82 5.9795
2023-08-29 2023-06-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 31,982 571 1.82 1,477 4.09 5.0021
2023-05-30 2023-03-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 31,411 -958 -2.96 1,419 4.42 5.0032
2023-02-28 2022-12-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 32,369 -2,314 -6.67 1,359 7.69 5.0008
2022-11-29 2022-09-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 34,683 3,599 11.58 1,261 -0.55 4.9944
2022-08-26 2022-06-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 31,084 -359 -1.14 1,268 -16.03 4.9512
2022-05-31 2022-03-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 31,443 2,590 8.98 1,510 2.51 4.9562
2022-02-25 2021-12-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 28,853 2,182 8.18 1,473 9.44 4.9870
2021-11-29 2021-09-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 26,671 1,182 4.64 1,347 2.51 4.9048
2021-08-26 2021-06-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 25,489 4,443 21.11 1,313 27.11 4.9679
2021-05-27 2021-03-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 21,046 1,183 5.96 1,034 10.25 4.9814
2021-02-26 2020-12-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 19,863 -672 -3.27 938 11.68 5.0290
2020-11-25 2020-09-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 20,535 -275 -1.32 840 3.97 4.9686
2020-08-27 2020-06-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 20,810 0 0.00 807 16.45 4.9357
2020-05-29 2020-03-31 NP VANGUARD FTSE DEVELOPED E EC US9219438580 20,810 4,409 26.88 694 -4.02 4.9683
2020-02-25 2019-12-31 NP VANGUARD FTSE DEVELOPED E EC 921943858 16,401 464 2.91 723 10.40 5.0046
2019-11-27 2019-09-30 NP VANGUARD FTSE DEVELOPED E EC US9219438580 15,937 15,937 655 5.0115
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.