# EDGAR Filing Document

**Accession Number:** 0000313850
**File Stem:** 0000313850-26-000130
**Filing Date:** 2026-6
**Character Count:** 22947
**Document Hash:** 2ae3ee981d5e812e004e6391c030e7bb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000313850-26-000130.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0000313850-26-000130

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD TRUSTEES' EQUITY FUND
- **CENTRAL INDEX KEY:** 0000313850

**ORGANIZATION NAME:**
- **EIN:** 232120820
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02968-99
- **FILM NUMBER:** 261128173

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD TRUSTEES EQUITY FUNDS
- **DATE OF NAME CHANGE:** 20011121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD TRUSTEES EQUITY FUND
- **DATE OF NAME CHANGE:** 19930303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRUSTEES COMINGLED FUND
- **DATE OF NAME CHANGE:** 19930302

## Series and Classes Contracts Data

### Vanguard Commodity Strategy Fund (Series ID: S000065757)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000212612 | Admiral Shares | VCMDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** VANGUARD TRUSTEES' EQUITY FUND

- **b. Investment Company Act file number:** 811-02968-99

- **c. CIK number of Registrant:** 0000313850

- **d. LEI of Registrant:** 549300EQOO1PY5885755

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Vanguard Boulevard

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-669-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** VANGUARD COMMODITY STRATEGY FUND

- **b. EDGAR series identifier (if any):** S000065757

- **c. LEI of Series:** 5493001YCD27JTQEBR52

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2613692958.12

**Total Liabilities:** $139407.52

**Net Assets:** $2613553550.60

**Amount of Assets Invested in Other Investment Companies:** $519585041.18

**Cash Not Reported:** $3721048.82

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000212612 | 2.12%                | 5.98%                | 4.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1818.00                | $4833277.99                                |
| Month 2  | $47810608.18             | $-7205144.53                               |
| Month 3  | $62686533.62             | $6374009.09                                |

**Designated Index Information**

- **Index Name:** Bloomberg Commodity Index Total Return

- **Index Identifier:** BCOMTR

### Schedule of Portfolio Investments

| Name                                              | Title                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        | 218099039 | NS      | $218077229.06 | 8.34%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797QN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  41800000 | PA      | $41745961.80  | 1.60%             | 2026-05-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797QX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  45000000 | PA      | $44815500.00  | 1.71%             | 2026-06-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797RF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  29750000 | PA      | $29543584.68  | 1.13%             | 2026-07-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797SV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  40000000 | PA      | $39920333.20  | 1.53%             | 2026-05-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797TD9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  45000000 | PA      | $44783100.00  | 1.71%             | 2026-06-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797TE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  51300000 | PA      | $51014323.13  | 1.95%             | 2026-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797TF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  46800000 | PA      | $46508228.21  | 1.78%             | 2026-07-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797TL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $6997223.31   | 0.27%             | 2026-05-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797TP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50800000 | PA      | $50377774.28  | 1.93%             | 2026-07-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797TQ0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12100000 | PA      | $11991402.50  | 0.46%             | 2026-07-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797UN5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22000000 | PA      | $21851985.76  | 0.84%             | 2026-07-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bill                       | TREASURY BILL                  | CUSIP: 912797UP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22000000 | PA      | $21837426.16  | 0.84%             | 2026-07-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912810FD5<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  35743427 | PA      | $37628334.24  | 1.44%             | 2028-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912810FH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  40966982 | PA      | $44308351.88  | 1.70%             | 2029-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912810PS1<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  37060759 | PA      | $37723799.11  | 1.44%             | 2027-01-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912810PV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  34684891 | PA      | $35240391.00  | 1.35%             | 2028-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912810PZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  32346819 | PA      | $33663435.58  | 1.29%             | 2029-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 9128282L3<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  82483943 | PA      | $82603158.06  | 3.16%             | 2027-07-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 9128283R9<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  84437560 | PA      | $84021968.70  | 3.21%             | 2028-01-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 9128285W6<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  63407545 | PA      | $63234164.54  | 2.42%             | 2029-01-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 9128287D6<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  74778941 | PA      | $73131467.48  | 2.80%             | 2029-07-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912828S50<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  80999379 | PA      | $82046675.73  | 3.14%             | 2026-07-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912828V49<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  73552012 | PA      | $73827831.75  | 2.82%             | 2027-01-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912828Y38<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  73172823 | PA      | $73224271.86  | 2.80%             | 2028-07-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912828Z37<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  84462375 | PA      | $81374219.29  | 3.11%             | 2030-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 912828ZZ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  92457857 | PA      | $88651193.17  | 3.39%             | 2030-07-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CBF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  95919274 | PA      | $90868524.79  | 3.48%             | 2031-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CDC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  91337414 | PA      | $92304306.63  | 3.53%             | 2026-10-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CEJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  93435400 | PA      | $93121515.26  | 3.56%             | 2027-04-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CFR7<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  93694832 | PA      | $95246652.44  | 3.64%             | 2027-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CGW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  92343368 | PA      | $92956585.47  | 3.56%             | 2028-04-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CJH5<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  95187004 | PA      | $98801135.84  | 3.78%             | 2028-10-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  96351744 | PA      | $99287460.68  | 3.80%             | 2029-04-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CLV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        | 100876439 | PA      | $102996419.50 | 3.94%             | 2029-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        | 104673190 | PA      | $106333241.26 | 4.07%             | 2030-04-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Inflation Indexed Bonds    | TSY INFL IX N/B                | CUSIP: 91282CPH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        | 107308807 | PA      | $107057301.92 | 4.10%             | 2030-10-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: MQCP170E INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |   1028428 | NC      | $10809391.99  | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: RBCACB23 INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |   1837814 | NC      | $11519967.16  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: RBCSVBW1 INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    133106 | NC      | $1803022.03   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: BCOMF2 INDEX           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    481724 | NC      | $7908657.88   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: BCOM INDEX             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    830325 | NC      | $6668259.38   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: ENHGBS8P INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    489158 | NC      | $9559265.54   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: ABGS1129 INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |   1513879 | NC      | $4782510.55   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: BCOMF3 INDEX           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    109091 | NC      | $1055917.53   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: CIBZC51E INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    711061 | NC      | $1748284.95   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: SGIXCSB1 INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |   1728557 | NC      | $1102473.60   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: BCOM INDEX             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |   2425657 | NC      | $826906.53    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: MLCILP3EE INDEX        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    277542 | NC      | $492275.46    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: MLBXSTGV INDEX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |   1544797 | NC      | $712614.89    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | TRSWAP: MLBXAKSVUS INDEX       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | N/A       |    482223 | NC      | $38577.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-25

**Name of Applicant:** VANGUARD TRUSTEES' EQUITY FUND

**Signature:** My Trieu-Gatt

**Name of Signer:** My Trieu-Gatt

**Title:** Treasurer