1.2 Vanguard Brokerage Services 2026 1 2026-04-17T15:18:25Z 2026 1 100.00 57.24 2.75 37.39 2.62 Citadel Securities (CDRG) 30.37 32.52 30.91 27.73 20.45 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. G1 Execution Services, LLC (ETMM) 22.30 24.51 21.63 19.63 12.94 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Jane Street Capital, LLC (JNST) 16.78 17.38 16.65 16.14 12.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Virtu Americas, LLC (NITE) 11.90 10.48 11.65 13.08 26.16 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. UBS Securities LLC (UBSS) 11.75 10.00 11.91 14.13 15.87 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Two Sigma Securities (SOHO) 6.91 5.11 7.26 9.29 11.70 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 100.00 67.52 3.41 26.94 2.13 Citadel Securities (CDRG) 28.62 29.51 28.46 27.12 19.77 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. G1 Execution Services, LLC (ETMM) 18.68 20.04 17.73 15.87 12.60 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Virtu Americas, LLC (NITE) 18.10 18.20 18.16 17.49 22.46 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Two Sigma Securities (SOHO) 13.80 14.06 12.53 13.23 14.70 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Jane Street Capital, LLC (JNST) 13.56 13.09 14.45 14.67 12.90 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. UBS Securities LLC (UBSS) 7.24 5.09 8.66 11.62 17.57 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 100.00 0.02 18.50 77.83 3.65 Wolverine Execution Svc. (WEXX) 46.13 54.26 47.77 45.76 45.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Citadel Securities (CDRG) 39.73 41.49 40.22 39.59 40.22 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Susquehanna International Group, LLP (SUSQ) 14.14 4.26 12.01 14.65 14.12 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 2026 2 100.00 56.48 4.59 36.26 2.66 Citadel Securities (CDRG) 30.57 32.83 30.56 27.57 23.59 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. G1 Execution Services, LLC (ETMM) 21.35 23.12 20.95 19.05 15.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Jane Street Capital, LLC (JNST) 16.93 17.57 16.68 16.16 14.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. UBS Securities LLC (UBSS) 12.91 11.36 12.76 15.12 16.08 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Virtu Americas, LLC (NITE) 11.32 10.03 12.11 12.66 18.97 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Two Sigma Securities (SOHO) 6.92 5.09 6.94 9.43 11.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 100.00 66.45 4.51 27.11 1.93 Citadel Securities (CDRG) 28.36 29.17 29.33 26.73 21.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. G1 Execution Services, LLC (ETMM) 18.98 20.29 17.99 16.27 14.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Virtu Americas, LLC (NITE) 17.18 17.37 17.23 16.50 20.15 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Two Sigma Securities (SOHO) 14.51 14.86 12.88 13.90 14.65 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Jane Street Capital, LLC (JNST) 13.66 13.18 14.61 14.73 12.79 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. UBS Securities LLC (UBSS) 7.32 5.13 7.96 11.88 17.23 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 100.00 0.05 18.91 77.45 3.60 Wolverine Execution Svc. (WEXX) 47.10 41.88 48.73 46.71 47.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Citadel Securities (CDRG) 39.04 52.50 39.52 38.94 38.52 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Susquehanna International Group, LLP (SUSQ) 13.86 5.63 11.75 14.36 14.34 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 2026 3 100.00 55.55 4.58 37.32 2.55 Citadel Securities (CDRG) 30.62 32.97 30.77 27.48 25.11 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. G1 Execution Services, LLC (ETMM) 20.78 22.37 20.07 18.73 17.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Jane Street Capital, LLC (JNST) 16.83 17.52 16.68 15.95 15.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. UBS Securities LLC (UBSS) 13.40 12.03 13.40 15.29 15.47 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Virtu Americas, LLC (NITE) 11.26 9.93 12.06 12.87 15.37 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Two Sigma Securities (SOHO) 7.11 5.19 7.03 9.68 11.59 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 100.00 64.47 4.56 29.34 1.63 Citadel Securities (CDRG) 27.70 28.41 28.93 26.28 21.73 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. G1 Execution Services, LLC (ETMM) 19.61 20.99 18.61 16.99 14.94 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Virtu Americas, LLC (NITE) 16.89 17.07 17.01 16.36 19.10 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Two Sigma Securities (SOHO) 14.91 15.45 13.11 14.01 14.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Jane Street Capital, LLC (JNST) 13.56 13.04 14.38 14.60 13.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. UBS Securities LLC (UBSS) 7.33 5.04 7.96 11.76 16.22 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. 100.00 0.03 18.69 77.67 3.61 Wolverine Execution Svc. (WEXX) 47.18 44.55 48.95 46.75 47.23 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Citadel Securities (CDRG) 38.97 41.58 39.47 38.85 38.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders. Susquehanna International Group, LLP (SUSQ) 13.86 13.86 11.57 14.40 13.92 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Vanguard Brokerage Services does not receive any payment for order flow. Vanguard Brokerage Services does not receive any monetary payments, services, property, or other direct or indirect benefit that would result in remuneration, compensation, or consideration in return for the routing of customer orders.