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BlackRock Taxable Municipal Bond Trust
BBN

55 hedge funds and large institutions have $148M invested in BlackRock Taxable Municipal Bond Trust in 2013 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 15 increasing their positions, 19 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

30% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 10

6% more funds holding

Funds holding: 52 → 55 (+3)

0.12% less ownership

Funds ownership: 13.96% → 13.84% (-0.12%)

8% less capital invested

Capital invested by funds: $161M → $148M (-$13.2M)

21% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 19

Holders
55
Holders Change
+3
Holders Change %
+5.77%
% of All Funds
1.78%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.03%
New
13
Increased
15
Reduced
19
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$4.79M
2
TG
TCW Group
California
+$4.66M
3
SONJCPFB
State of New Jersey Common Pension Fund B
New Jersey
+$4.63M
4
OA
Oxbow Advisors
Texas
+$2.14M
5
Bank of America
Bank of America
North Carolina
+$1.86M

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$5.38M
2
Wells Fargo
Wells Fargo
California
-$3.57M
3
BI
Bulldog Investors
New Jersey
-$3.19M
4
SIA
Sit Investment Associates
Minnesota
-$2.07M
5
EIA
Edgemoor Investment Advisors
Maryland
-$1.78M
Name Holding Trade Value Shares
Change 		Change in
Stake
MAM
51
Meeder Asset Management
Ohio
$9K – – –
BC
52
Bartlett & Co
Ohio
$2K +$2.39K +124 New
OFG
53
OTA Financial Group
New York
$342 +$351K +18,202 New
BI
54
Bulldog Investors
New Jersey
– -$3.19M -157,727 Closed
RJFSA
55
Raymond James Financial Services Advisors
Florida
– -$1.09M -54,091 Closed
Nomura Holdings
56
Nomura Holdings
Japan
– -$784K -38,848 Closed
1CP
57
1607 Capital Partners
Virginia
– -$711K -35,200 Closed
PWPCM
58
Perella Weinberg Partners Capital Management
New York
– -$514K -25,446 Closed
DA
59
Doliver Advisors
Texas
– -$343K -16,999 Closed
HighTower Advisors
60
HighTower Advisors
Illinois
– -$305K -15,109 Closed
BIM
61
BlackRock Investment Management
Delaware
– -$31.3K -1,621 -100%
FNBT
62
FineMark National Bank & Trust
Florida
– -$12K -598 Closed
RIA
63
Regal Investment Advisors
Michigan
– -$8K -400 Closed
NES
64
New England Securities
New York
– -$6K -300 Closed
LFR
65
Lehman Financial Resources
Pennsylvania
– -$58 -3 -19%
1 2
3

BBN Hedge Fund Activity: Q3 2013 in Review

55 of the 3,085 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2013, worth a combined $148M — down 8.2% from $161M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new BBN positions and 10 closed out — a net gain of 3 holders — while 15 added to existing stakes and 19 trimmed.

The largest buyer was Goldman Sachs, adding an estimated $4.79M. The largest seller was Rivernorth Capital Management, cutting an estimated $5.38M.

  • 55 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2013, up from 52 in Q2 2013.
  • Funds reported $148M of BlackRock Taxable Municipal Bond Trust stock for Q3 2013, down 8.2% quarter-over-quarter.
  • 13 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2013 and 10 closed out, a net change of +3 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2013 was Goldman Sachs, an estimated $4.79M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2013 was Rivernorth Capital Management, an estimated $5.38M sold.

Based on aggregated 13F filings for Q3 2013.