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BlackRock Taxable Municipal Bond Trust
BBN

69 hedge funds and large institutions have $155M invested in BlackRock Taxable Municipal Bond Trust in 2015 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 25 increasing their positions, 23 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

9% more repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 23

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0.9% less ownership

Funds ownership: 12.67% → 11.77% (-0.9%)

5% less capital invested

Capital invested by funds: $163M → $155M (-$7.83M)

9% less funds holding

Funds holding: 76 → 69 (-7)

42% less first-time investments, than exits

New positions opened: 7 | Existing positions closed: 12

Holders
69
Holders Change
-7
Holders Change %
-9.21%
% of All Funds
1.84%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
7
Increased
25
Reduced
23
Closed
12
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PMLI
Penn Mutual Life Insurance
Pennsylvania
+$2.46M
2
JHIU
Janus Henderson Investors US
Colorado
+$1.95M
3
FFA
First Foundation Advisors
California
+$1.94M
4
Morgan Stanley
Morgan Stanley
New York
+$997K
5
RJA
Raymond James & Associates
Florida
+$595K

Top Sellers

Rank Fund Capital Flow
1
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$3.94M
2
V
Veritable
Delaware
-$2.39M
3
UBS Group
UBS Group
Switzerland
-$2.36M
4
SIA
Sit Investment Associates
Minnesota
-$2.3M
5
OA
Oxbow Advisors
Texas
-$2.19M
Name Holding Trade Value Shares
Change 		Change in
Stake
US Bancorp
51
US Bancorp
Minnesota
$120K – – –
Northwestern Mutual Wealth Management
52
Northwestern Mutual Wealth Management
Wisconsin
$74K +$9.13K +404 +14%
FHA
53
First Horizon Advisors
Tennessee
$56K +$90 +4 +0.2%
FFC
54
First Financial Corp
Indiana
$51K – – –
MFS
55
MSI Financial Services
Massachusetts
$39K +$33.9K +1,500 +667%
CB
56
Community Bank
New York
$34K – – –
DSC
57
Duncker Streett & Co
Missouri
$34K – – –
Creative Planning
58
Creative Planning
Kansas
$27K – – –
Fifth Third Bancorp
59
Fifth Third Bancorp
Ohio
$26K +$2.89K +128 +13%
FANJ
60
Financial Architects (New Jersey)
New Jersey
$23K – – –
LTFS
61
Ladenburg Thalmann Financial Services
Florida
$23K – – –
AC
62
Alexandria Capital
Virginia
$20K +$20.2K +895 New
JIC
63
Joel Isaacson & Co
New York
$19K +$19.2K +850 New
WTB
64
Washington Trust Bank
Washington
$17K -$6.55K -290 -28%
ClearBridge Investments
65
ClearBridge Investments
New York
$12K – – –
CAPTRUST Financial Advisors
66
CAPTRUST Financial Advisors
North Carolina
$11.3K +$11.3K +500 New
FMB
67
Field & Main Bank
Kentucky
$5K – – –
WEC
68
Winslow Evans & Crocker
Massachusetts
$2.27K -$11.3K -500 -83%
V
69
Veritable
Delaware
– -$2.39M -107,950 Closed
1CP
70
1607 Capital Partners
Virginia
– -$681K -30,749 Closed
SG Americas Securities
71
SG Americas Securities
New York
– -$507K -22,886 Closed
AQR Capital Management
72
AQR Capital Management
Connecticut
– -$355K -16,017 Closed
LCM
73
Landscape Capital Management
New Jersey
– -$295K -13,297 Closed
PPA
74
Parametric Portfolio Associates
Washington
– -$280K -12,620 Closed
WAM
75
Wolverine Asset Management
Illinois
– -$195K -8,837 Closed
1 2
3
4

BBN Hedge Fund Activity: Q1 2015 in Review

69 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q1 2015, worth a combined $155M — down 4.8% from $163M a quarter earlier.

Sellers outnumbered buyers: 12 funds closed out of BBN and 7 opened new positions — a net loss of 5 holders — while 23 trimmed existing stakes and 25 added.

The largest buyer was Penn Mutual Life Insurance, opening a new position worth an estimated $2.46M. The largest seller was PNC Financial Services Group, cutting an estimated $3.94M.

  • 69 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q1 2015, down from 76 in Q4 2014.
  • Funds reported $155M of BlackRock Taxable Municipal Bond Trust stock for Q1 2015, down 4.8% quarter-over-quarter.
  • 7 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q1 2015 and 12 closed out, a net change of -5 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q1 2015 was Penn Mutual Life Insurance, an estimated $2.46M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q1 2015 was PNC Financial Services Group, an estimated $3.94M sold.

Based on aggregated 13F filings for Q1 2015.