Vanguard Admiral Funds
04/16/2026 | Press release | Distributed by Public on 04/16/2026 07:01
Prospectus by Investment Company (Form 497)
Vanguard Funds
Supplement Dated April 16, 2026, to the Prospectuses and Summary Prospectuses
Effective today, a portfolio manager has been added as co-portfolio manager of each Fund/Portfolio listed in the table below (each, an "impacted Fund," and collectively, the "impacted Funds"). The impacted Funds' investment objectives, strategies, and policies remain unchanged.
Prospectus and Summary Prospectus Text Changes
The following table lists each impacted Fund and the corresponding portfolio manager added as co-portfolio manager:
|
Impacted Fund |
Portfolio Manager |
|
Vanguard Cash Reserves Federal Money Market Fund |
Eion D'Anjou |
|
Vanguard Core-Plus Bond Index ETF |
Manuel Hayes |
|
Vanguard Federal Money Market Fund |
Eion D'Anjou |
|
Vanguard Inflation-Protected Securities Fund |
Brian Quigley |
|
Vanguard Institutional Intermediate-Term Bond Fund |
Peter Lee |
|
Vanguard Institutional Short-Term Bond Fund |
Thanh Nguyen |
|
Vanguard Intermediate-Term Investment-Grade Fund |
Peter Lee |
|
Vanguard Long-Term Investment-Grade Fund |
Blanton Keh |
|
Vanguard Market Liquidity Fund |
Eion D'Anjou |
|
Vanguard Short-Term Investment-Grade Fund |
Thanh Nguyen |
|
Vanguard Treasury Money Market Fund |
Eion D'Anjou |
|
VVIF - Money Market Portfolio |
Eion D'Anjou |
|
VVIF - Short-Term Investment-Grade Portfolio |
Thanh Nguyen |
Prospectus and Summary Prospectus Text Changes
The following is added under the heading "Investment Advisor" in the Summary Prospectus and the summary section of the Prospectus for each impacted Fund, as appropriate:
Blanton Keh, CFA, Portfolio Manager at VCM. He has co-managed the Fund since April 2026.
Brian W. Quigley, CFA, Portfolio Manager at VCM. He has co-managed the Fund since April 2026.
Eion D'Anjou, Portfolio Manager at VCM. He has co-managed the Fund since April 2026.
Manuel Hayes, Senior Portfolio Manager at VCM. He has co-managed the Fund since April 2026.
Peter Lee, CFA, Portfolio Manager at VCM. He has co-managed the Fund since April 2026.
Thanh Nguyen, CFA, Portfolio Manager at VCM. She has co-managed the Fund since April 2026.
Prospectus Text Changes
The following is added under the heading "Investment Advisor" in the More on the Fund(s) or More on the Portfolio section for each impacted Fund,
as appropriate:
Blanton Keh, CFA, Portfolio Manager at VCM. He has worked in investment management since 2001, has been with Vanguard since 2025, and has co-managed the Fund since April 2026. Education: B.S., California State Polytechnic University - Pomona; M.S., University of California, Los Angeles; M.B.A., University of California Anderson School of Management.
Brian W. Quigley, CFA, Portfolio Manager at VCM. He has been with Vanguard since 2003, has worked in investment management since 2005, he has managed investment portfolios since 2015, and has co-managed the Fund since April 2026. Education: B.S., Lehigh University.
Eion D'Anjou, Portfolio Manager at VCM. He has worked in investment management since 2006, has been with Vanguard since 2026, and he has co-managed the Fund since April 2026. Education: B.S., Cornell University.
Manuel Hayes, Senior Portfolio Manager at VCM. He has worked in investment management since 2005, has managed investment portfolios since 2007, has been with Vanguard since 2025, and co-managed the Fund since April 2026. Education: B.A., University of California, Berkeley.
Peter Lee, CFA, Portfolio Manager at VCM. He has worked in investment management since 2005, has been with Vanguard since 2012, and he has co-managed the Fund since April 2026. Education: B.S., Villanova University; M.I.S, Villanova University; M.B.A., University of Virginia Darden School
of Business.
Thanh Nguyen, CFA, Portfolio Manager at VCM. She has worked in investment management since 2005, has been with Vanguard since 2013, has managed investment portfolios since 2014, and has co-managed the Fund since April 2026. Education: B.A., Ohio Wesleyan University; M.B.A., The Wharton School of the University of Pennsylvania.
CFA® is a registered trademark owned by CFA Institute.
©2026 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor.
PS PMG 042026
Vanguard Admiral Funds®
Vanguard Money Market Reserves
Supplement Dated April 16, 2026, to the Statement of Additional Information Dated December 19, 2025
Effective today, a portfolio manager has been added as co-portfolio manager of each Fund listed in the table below (each, an "impacted Fund," and collectively, the "impacted Funds"). The table lists each impacted Fund and the corresponding portfolio manager added as co-portfolio manager.
The impacted Funds' investment objectives, strategies, and policies remain unchanged.
|
Registrant
|
Impacted Fund
|
Portfolio Manager
|
|
Money Market Reserves
|
Vanguard Cash Reserves Federal
Money Market Fund
|
Eion D'Anjou
|
|
Vanguard Federal Money Market
Fund
|
Eion D'Anjou
|
|
|
Admiral
|
Vanguard Treasury Money Market
Fund
|
Eion D'Anjou
|
The Statement of Additional Information, as supplemented, provides information about the other portfolio managers of the impacted Funds, as of August 31, 2025. The table and text below provide updated information as of March 31, 2026, relating only to Mr. D'Anjou.
Other Accounts Managed
|
Portfolio Manager
|
No. of
accounts
|
Total assets
|
No. of accounts with
performance-based
fees
|
Total assets in
accounts with
performance-based
fees
|
|
|
Eion D'Anjou
|
Registered investment companies
|
0
|
$0
|
0
|
$0
|
|
Other pooled investment vehicles
|
0
|
$0
|
0
|
$0
|
|
|
Other accounts
|
0
|
$0
|
0
|
$0
|
Ownership of Securities
As of March 31, 2026, Mr. D'Anjou did not own any shares of the impacted Funds.
© 2026 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.
SAI 030C 042026
Vanguard Admiral Funds published this content on April 16, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 16, 2026 at 13:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]