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BlackRock Taxable Municipal Bond Trust
BBN

76 hedge funds and large institutions have $163M invested in BlackRock Taxable Municipal Bond Trust in 2014 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 27 increasing their positions, 19 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 10

42% more repeat investments, than reductions

Existing positions increased: 27 | Existing positions reduced: 19

12% more capital invested

Capital invested by funds: $145M → $163M (+$17.3M)

3% more funds holding

Funds holding: 74 → 76 (+2)

0.77% more ownership

Funds ownership: 11.9% → 12.67% (+0.77%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
76
Holders Change
+2
Holders Change %
+2.7%
% of All Funds
2.03%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
15
Increased
27
Reduced
19
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
JHIU
Janus Henderson Investors US
Colorado
+$11.9M
2
Invesco
Invesco
Georgia
+$2.61M
3
FFA
First Foundation Advisors
California
+$787K
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$661K
5
SG Americas Securities
SG Americas Securities
New York
+$491K

Top Sellers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
-$2.13M
2
Morgan Stanley
Morgan Stanley
New York
-$1.7M
3
OA
Oxbow Advisors
Texas
-$1.63M
4
JG
Jefferies Group
New York
-$1.22M
5
AC
Allstate Corporation
Illinois
-$1.08M
Name Holding Trade Value Shares
Change 		Change in
Stake
Lazard Asset Management
51
Lazard Asset Management
New York
$206K – – –
Cambridge Investment Research Advisors
52
Cambridge Investment Research Advisors
Iowa
$201K +$195K +9,074 New
WAM
53
Wolverine Asset Management
Illinois
$195K +$125K +5,812 +192%
DADC
54
D.A. Davidson & Co
Montana
$175K +$5.04K +235 +3%
US Bancorp
55
US Bancorp
Minnesota
$118K +$107K +5,000 +1,592%
Northwestern Mutual Wealth Management
56
Northwestern Mutual Wealth Management
Wisconsin
$63K – – –
FHA
57
First Horizon Advisors
Tennessee
$53K +$4.37K +204 +9%
FFC
58
First Financial Corp
Indiana
$50K – – –
NPC
59
National Planning Corporation
California
$39.9K +$38.1K +1,779 New
DSC
60
Duncker Streett & Co
Missouri
$33K – – –
NES
61
New England Securities
New York
$33K +$4.29K +200 +15%
CB
62
Community Bank
New York
$33K +$32.2K +1,500 New
Creative Planning
63
Creative Planning
Kansas
$27K +$6.54K +305 +34%
WTB
64
Washington Trust Bank
Washington
$23K – – –
Fifth Third Bancorp
65
Fifth Third Bancorp
Ohio
$22K – – –
BCM
66
Blume Capital Management
California
$22K +$21.4K +1,000 New
FANJ
67
Financial Architects (New Jersey)
New Jersey
$22K +$21.4K +1,000 New
LTFS
68
Ladenburg Thalmann Financial Services
Florida
$22K +$21.4K +1,000 New
WEC
69
Winslow Evans & Crocker
Massachusetts
$13.3K -$107K -5,000 -89%
ClearBridge Investments
70
ClearBridge Investments
New York
$11K – – –
MFS
71
MSI Financial Services
Massachusetts
$5K -$4.29K -200 -47%
BIM
72
BlackRock Investment Management
Delaware
$5K +$5.25K +245 New
FMB
73
Field & Main Bank
Kentucky
$4K – – –
Bank of Montreal
74
Bank of Montreal
Ontario, Canada
$4K +$3.45K +161 New
CCS
75
Crosspoint Capital Strategies
California
$2K +$1.56K +73 New
1 2
3
4

BBN Hedge Fund Activity: Q4 2014 in Review

76 of the 3,750 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2014, worth a combined $163M — up 12% from $145M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new BBN positions and 10 closed out — a net gain of 5 holders — while 27 added to existing stakes and 19 trimmed.

The largest buyer was Janus Henderson Investors US, opening a new position worth an estimated $11.9M. The largest seller was Sit Investment Associates, cutting an estimated $2.13M.

  • 76 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2014, up from 74 in Q3 2014.
  • Funds reported $163M of BlackRock Taxable Municipal Bond Trust stock for Q4 2014, up 12% quarter-over-quarter.
  • 15 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2014 and 10 closed out, a net change of +5 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2014 was Janus Henderson Investors US, an estimated $11.9M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2014 was Sit Investment Associates, an estimated $2.13M sold.

Based on aggregated 13F filings for Q4 2014.