Just something to note.
Short synopsis; Vanguard lowered institutional account minimum requirement from $100,000,000 to $5,000,000. The institutional shares have a 5 basis point lower cost, so many institutions that had money in the Admiral (?) funds (at higher fees) moved them to the institutional shares.
This caused Vanguard to liquidate funds in the Admiral (?) shares causing LTCGs that you will owe taxes on, if you own the target fund in a taxable account, (which you probably shouldn't)
Short synopsis; Vanguard lowered institutional account minimum requirement from $100,000,000 to $5,000,000. The institutional shares have a 5 basis point lower cost, so many institutions that had money in the Admiral (?) funds (at higher fees) moved them to the institutional shares.
This caused Vanguard to liquidate funds in the Admiral (?) shares causing LTCGs that you will owe taxes on, if you own the target fund in a taxable account, (which you probably shouldn't)
