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BlackRock Taxable Municipal Bond Trust
BBN

122 hedge funds and large institutions have $385M invested in BlackRock Taxable Municipal Bond Trust in 2023 Q4 according to their latest regulatory filings, with 17 funds opening new positions, 42 increasing their positions, 42 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

35% more capital invested

Capital invested by funds: $285M → $385M (+$99.5M)

8.2% more ownership

Funds ownership: 31.79% → 39.98% (+8.2%)

0% more funds holding

Funds holding: 122 → 122 (0)

0% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 17

0% more repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 42

Holders
122
Holders Change
–
Holders Change %
0%
% of All Funds
1.78%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
17
Increased
42
Reduced
42
Closed
17
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$71.8M
2
SIA
Sit Investment Associates
Minnesota
+$12M
3
LCM
Landscape Capital Management
New Jersey
+$2.23M
4
RVPG
Relative Value Partners Group
+$2.19M
5
RJA
Raymond James & Associates
Florida
+$1.25M

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$4.07M
2
Osaic Holdings
Osaic Holdings
Arizona
-$3.68M
3
HCM
Hudson Capital Management
New Jersey
-$3.64M
4
LGA
Lebenthal Global Advisors
New York
-$2.57M
5
Baird Financial Group
Baird Financial Group
Wisconsin
-$1.37M
Name Holding Trade Value Shares
Change 		Change in
Stake
RCA
26
Reitz Capital Advisors
Michigan
$1.47M -$1.24M -79,900 -47%
BFEC
27
Benjamin F. Edwards & Company
Missouri
$1.37M -$11.8K -764 -0.9%
AC
28
Addison Capital
Pennsylvania
$1.33M +$164K +10,602 +15%
WS
29
Wedbush Securities
California
$1.22M +$63.1K +4,071 +6%
GP
30
Gridiron Partners
Pennsylvania
$1.2M +$1.15M +73,983 New
Cambridge Investment Research Advisors
31
Cambridge Investment Research Advisors
Iowa
$1.15M +$17.8K +1,145 +2%
OIM
32
Oder Investment Management
California
$1.08M +$13.9K +899 +1%
GLA
33
Good Life Advisors
Pennsylvania
$983K -$134K -8,664 -13%
FNBSF
34
First National Bank Sioux Falls
South Dakota
$950K -$435K -28,054 -32%
FFA
35
Farther Finance Advisors
California
$943K +$99.5K +6,415 +12%
WAM
36
Weiss Asset Management
Massachusetts
$935K +$892K +57,503 New
HNWAG
37
High Net Worth Advisory Group
Florida
$926K +$15.3K +986 +2%
WAM
38
Walker Asset Management
Missouri
$899K – – –
AFS
39
Access Financial Services
Minnesota
$872K +$233 +15 +0%
Jane Street
40
Jane Street
New York
$842K +$804K +51,808 New
JWCA
41
J.W. Cole Advisors
Florida
$800K +$155K +10,011 +26%
Baird Financial Group
42
Baird Financial Group
Wisconsin
$763K -$1.37M -88,123 -65%
Corient Private Wealth
43
Corient Private Wealth
Florida
$752K +$122K +7,891 +21%
KPWS
44
Kestra Private Wealth Services
Texas
$693K +$25.9K +1,669 +4%
SCM
45
Schnieders Capital Management
California
$689K -$34.1K -2,200 -5%
BRWA
46
B. Riley Wealth Advisors
Florida
$686K -$16.9K -1,090 -3%
Stifel Financial
47
Stifel Financial
Missouri
$662K +$211K +13,627 +50%
USCWA
48
U.S. Capital Wealth Advisors
Texas
$642K -$271K -17,482 -31%
Millennium Management
49
Millennium Management
New York
$628K -$296K -19,091 -33%
MIC
50
Meridian Investment Counsel
California
$615K -$46.5K -3,000 -7%
1
2
3 4 5

BBN Hedge Fund Activity: Q4 2023 in Review

122 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2023, worth a combined $385M — up 35% from $285M a quarter earlier.

Fund positioning in BBN was balanced in Q4 2023: 17 funds opened new positions, 17 closed out, 42 added to existing stakes and 42 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $71.8M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $4.07M sold.

  • 122 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2023, unchanged from Q3 2023.
  • Funds reported $385M of BlackRock Taxable Municipal Bond Trust stock for Q4 2023, up 35% quarter-over-quarter.
  • 17 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2023 and 17 closed out, a net change of 0 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2023 was Morgan Stanley, an estimated $71.8M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2023 was Rivernorth Capital Management, an estimated $4.07M sold.

Based on aggregated 13F filings for Q4 2023.