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BlackRock Taxable Municipal Bond Trust
BBN

92 hedge funds and large institutions have $159M invested in BlackRock Taxable Municipal Bond Trust in 2016 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 25 increasing their positions, 29 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

125% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 8

11% more funds holding

Funds holding: 83 → 92 (+9)

0.1% less ownership

Funds ownership: 12.99% → 12.88% (-0.1%)

10% less capital invested

Capital invested by funds: $178M → $159M (-$18.6M)

14% less repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 29

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

Holders
92
Holders Change
+9
Holders Change %
+10.84%
% of All Funds
2.3%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.05%
New
18
Increased
25
Reduced
29
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AWA
AmeriServ Wealth Advisors
Pennsylvania
+$11.2M
2
SIA
Sit Investment Associates
Minnesota
+$3.1M
3
OA
Oxbow Advisors
Texas
+$1.61M
4
SG Americas Securities
SG Americas Securities
New York
+$1.14M
5
Stifel Financial
Stifel Financial
Missouri
+$1.13M

Top Sellers

Rank Fund Capital Flow
1
JHIU
Janus Henderson Investors US
Colorado
-$13.4M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$3.33M
3
Wells Fargo
Wells Fargo
California
-$2.63M
4
NMC
Nine Masts Capital
Hong Kong
-$2.37M
5
DA
Doliver Advisors
Texas
-$930K
Name Holding Trade Value Shares
Change 		Change in
Stake
VKH
51
Virtu KCG Holdings
New York
$310K +$318K +14,330 New
EAM
52
Eventide Asset Management
Massachusetts
$302K +$12.2K +550 +4%
WS
53
Wedbush Securities
California
$288K -$195K -8,804 -40%
NPC
54
National Planning Corporation
California
$280K -$15.6K -706 -5%
BB
55
Busey Bank
Illinois
$280K +$6.03K +272 +2%
SCM
56
Schnieders Capital Management
California
$267K +$15.5K +700 +6%
BIM
57
Baldwin Investment Management
Pennsylvania
$265K -$93.1K -4,200 -26%
RJT
58
Raymond James Trust
Florida
$254K +$24.4K +1,100 +10%
AIA
59
Allegis Investment Advisors
Idaho
$243K +$249K +11,259 New
PMG
60
ProVise Management Group
Florida
$237K -$383K -17,265 -61%
QCMC
61
Quantum Capital Management (California)
California
$227K -$55.4K -2,500 -19%
OC
62
Oppenheimer & Co
New York
$206K -$296K -13,371 -58%
BKA
63
Brick & Kyle Associates
Pennsylvania
$205K – – –
Lazard Asset Management
64
Lazard Asset Management
New York
$200K – – –
DADC
65
D.A. Davidson & Co
Montana
$176K +$32.1K +1,450 +22%
IA
66
IFP Advisors
Florida
$173K -$190K -8,596 -52%
AG
67
Advisor Group
Arizona
$172K -$64.7K -2,920 -27%
BRC
68
Bell Rock Capital
Delaware
$152K +$156K +7,023 New
GWS
69
Glassman Wealth Services
Virginia
$135K +$138K +6,230 New
KLI
70
Kelman-Lazarov Inc
Tennessee
$119K – – –
Northwestern Mutual Wealth Management
71
Northwestern Mutual Wealth Management
Wisconsin
$113K +$116K +5,245 New
US Bancorp
72
US Bancorp
Minnesota
$108K -$66.5K -3,000 -38%
Cohen & Steers
73
Cohen & Steers
New York
$102K – – –
PG
74
Patten Group
Tennessee
$92K – – –
EWM
75
Evercore Wealth Management
New York
$86K – – –
1 2
3
4 5

BBN Hedge Fund Activity: Q4 2016 in Review

92 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2016, worth a combined $159M — down 10% from $178M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new BBN positions and 8 closed out — a net gain of 10 holders — while 25 added to existing stakes and 29 trimmed.

The largest buyer was AmeriServ Wealth Advisors, adding an estimated $11.2M. The largest seller was Janus Henderson Investors US, exiting entirely with an estimated $13.4M sold.

  • 92 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2016, up from 83 in Q3 2016.
  • Funds reported $159M of BlackRock Taxable Municipal Bond Trust stock for Q4 2016, down 10% quarter-over-quarter.
  • 18 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2016 and 8 closed out, a net change of +10 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2016 was AmeriServ Wealth Advisors, an estimated $11.2M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2016 was Janus Henderson Investors US, an estimated $13.4M sold.

Based on aggregated 13F filings for Q4 2016.