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BlackRock Taxable Municipal Bond Trust
BBN

122 hedge funds and large institutions have $285M invested in BlackRock Taxable Municipal Bond Trust in 2023 Q3 according to their latest regulatory filings, with 12 funds opening new positions, 43 increasing their positions, 36 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

19% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 36

3.47% more ownership

Funds ownership: 28.31% → 31.79% (+3.5%)

3% more capital invested

Capital invested by funds: $278M → $285M (+$7.17M)

2% less funds holding

Funds holding: 125 → 122 (-3)

14% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 14

Holders
122
Holders Change
-3
Holders Change %
-2.4%
% of All Funds
1.94%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.03%
New
12
Increased
43
Reduced
36
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
+$22.5M
2
M&T Bank
M&T Bank
New York
+$13.3M
3
EBWM
Eagle Bluffs Wealth Management
Missouri
+$5.26M
4
Morgan Stanley
Morgan Stanley
New York
+$4.21M
5
Osaic Holdings
Osaic Holdings
Arizona
+$3.85M

Top Sellers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
-$5.3M
2
BAAM
Baker Avenue Asset Management
California
-$4.89M
3
Wells Fargo
Wells Fargo
California
-$4.75M
4
HH
Hilltop Holdings
Texas
-$3.29M
5
BI
Bramshill Investments
Florida
-$2.83M
Name Holding Trade Value Shares
Change 		Change in
Stake
Fiera Capital (Canada)
26
Fiera Capital (Canada)
Quebec, Canada
$1.8M -$1.4K -88 -0.1%
PCM
27
Penserra Capital Management
California
$1.57M +$1.65M +103,639 New
KeyBank National Association
28
KeyBank National Association
Ohio
$1.52M – – –
FNBSF
29
First National Bank Sioux Falls
South Dakota
$1.31M -$120K -7,500 -8%
BFEC
30
Benjamin F. Edwards & Company
Missouri
$1.29M +$405K +25,394 +42%
AC
31
Addison Capital
Pennsylvania
$1.08M -$23.9K -1,500 -2%
WS
32
Wedbush Securities
California
$1.08M +$146K +9,152 +15%
LCM
33
Landscape Capital Management
New Jersey
$1.06M +$104K +6,534 +10%
Cambridge Investment Research Advisors
34
Cambridge Investment Research Advisors
Iowa
$1.06M +$26.5K +1,664 +2%
GLA
35
Good Life Advisors
Pennsylvania
$1.05M +$56.9K +3,572 +5%
OIM
36
Oder Investment Management
California
$997K -$19.4K -1,214 -2%
SWP
37
Stratos Wealth Partners
Ohio
$914K +$210K +13,152 +28%
Millennium Management
38
Millennium Management
New York
$875K +$921K +57,742 New
USCWA
39
U.S. Capital Wealth Advisors
Texas
$864K -$40K -2,512 -4%
HNWAG
40
High Net Worth Advisory Group
Florida
$848K +$717 +45 +0.1%
WAM
41
Walker Asset Management
Missouri
$838K -$3.54K -222 -0.4%
AFS
42
Access Financial Services
Minnesota
$813K +$159 +10 +0%
FFA
43
Farther Finance Advisors
California
$782K +$463K +29,023 +129%
SCM
44
Schnieders Capital Management
California
$676K – – –
BRWA
45
B. Riley Wealth Advisors
Florida
$657K -$267K -16,722 -28%
KPWS
46
Kestra Private Wealth Services
Texas
$621K +$653K +40,961 New
MIC
47
Meridian Investment Counsel
California
$619K -$7.97K -500 -1%
JWCA
48
J.W. Cole Advisors
Florida
$594K -$24.1K -1,509 -4%
Corient Private Wealth
49
Corient Private Wealth
Florida
$581K +$1.26K +79 +0.2%
TC
50
TownSquare Capital
Utah
$574K -$2.54K -159 -0.4%
1
2
3 4 5

BBN Hedge Fund Activity: Q3 2023 in Review

122 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2023, worth a combined $285M — up 2.6% from $278M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of BBN and 12 opened new positions — a net loss of 2 holders — while 36 trimmed existing stakes and 43 added.

The largest buyer was Sit Investment Associates, adding an estimated $22.5M. The largest seller was UBS Group, cutting an estimated $5.3M.

  • 122 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2023, down from 125 in Q2 2023.
  • Funds reported $285M of BlackRock Taxable Municipal Bond Trust stock for Q3 2023, up 2.6% quarter-over-quarter.
  • 12 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2023 and 14 closed out, a net change of -2 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2023 was Sit Investment Associates, an estimated $22.5M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2023 was UBS Group, an estimated $5.3M sold.

Based on aggregated 13F filings for Q3 2023.