UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD

OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

INVESTMENT COMPANY ACT FILE NUMBER:811-5628

NAME OF REGISTRANT:VANGUARD MALVERN FUNDS

ADDRESS OF REGISTRANT:PO BOX 2600, VALLEY FORGE, PA 19482

NAME AND ADDRESS OF AGENT FOR SERVICE:HEIDI STAM

PO BOX 876

VALLEY FORGE, PA 19482

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:  (610) 669-1000

DATE OF FISCAL YEAR END:SEPTEMBER 30

DATE OF REPORTING PERIOD:                    JULY 1, 2015 - JUNE 30, 2016

FUND:VANGUARD CORE BOND FUND

The fund held no securities entitled to vote at a meeting of shareholders

during the reporting period.

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SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has

duly caused this report to be signed on its behalf by the undersigned, thereunto duly

authorized.

VANGUARD MALVERN FUNDS

By:     /s/F. William McNabb III

           F. William McNabb III*

           Chairman and Chief Executive Officer

Date:      August 29, 2016

*By:    /s/Heidi Stam

Heidi Stam, pursuant to a Power of Attorney filed on April 22, 2014,

           see File Number 2-17620. Incorporated by Reference.