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BlackRock Taxable Municipal Bond Trust
BBN

98 hedge funds and large institutions have $246M invested in BlackRock Taxable Municipal Bond Trust in 2019 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 41 increasing their positions, 20 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

105% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 20

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

22% more capital invested

Capital invested by funds: $201M → $246M (+$44.9M)

2.61% more ownership

Funds ownership: 14.8% → 17.41% (+2.6%)

9% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 11

1% less funds holding

Funds holding: 99 → 98 (-1)

Holders
98
Holders Change
-1
Holders Change %
-1.01%
% of All Funds
2.15%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.04%
New
10
Increased
41
Reduced
20
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GC
Guggenheim Capital
Illinois
+$31M
2
Morgan Stanley
Morgan Stanley
New York
+$3.05M
3
TC
TownSquare Capital
Utah
+$2.78M
4
FFA
First Foundation Advisors
California
+$2.36M
5
Wells Fargo
Wells Fargo
California
+$1.97M

Top Sellers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
-$4.69M
2
UBS Group
UBS Group
Switzerland
-$3.99M
3
Stifel Financial
Stifel Financial
Missouri
-$1.88M
4
CA
Cetera Advisors
Colorado
-$1.1M
5
Invesco
Invesco
Georgia
-$590K
Name Holding Trade Value Shares
Change 		Change in
Stake
WKWM
51
Walter & Keenan Wealth Management
Indiana
$378K -$24.4K -1,000 -6%
WWM
52
Western Wealth Management
Colorado
$375K – – –
MAFM
53
Mid Atlantic Financial Management
Pennsylvania
$370K +$12.2K +500 +3%
AG
54
Advisor Group
Arizona
$363K -$11.9K -487 -3%
ECM
55
Evergreen Capital Management
Washington
$340K +$171 +7 +0.1%
SFSIG
56
San Francisco Sentry Investment Group
California
$339K +$334K +13,700 New
Fiera Capital (Canada)
57
Fiera Capital (Canada)
Quebec, Canada
$335K -$17.4K -715 -5%
Cohen & Steers
58
Cohen & Steers
New York
$317K – – –
CIBC World Market
59
CIBC World Market
Ontario, Canada
$305K – – –
SP
60
Successful Portfolios
Florida
$303K -$2.44K -100 -0.8%
CF
61
Centaurus Financial
California
$299K +$82.2K +3,369 +39%
Janney Montgomery Scott
62
Janney Montgomery Scott
Pennsylvania
$296K +$38.8K +1,591 +15%
CAN
63
Claraphi Advisory Network
United States
$290K +$287K +11,751 New
UR
64
USCA RIA
Texas
$282K +$24.4K +1,000 +10%
FAAS
65
First Allied Advisory Services
California
$275K -$4.15K -170 -2%
Bank of New York Mellon
66
Bank of New York Mellon
New York
$272K – – –
VWA
67
VERITY Wealth Advisors
United States
$264K – – –
RJT
68
Raymond James Trust
Florida
$251K – – –
QCMC
69
Quantum Capital Management (California)
California
$247K – – –
SMFS
70
Squar Milner Financial Services
California
$241K +$227K +9,283 New
HCM
71
Hollencrest Capital Management
California
$233K +$3.32K +136 +1%
Lazard Asset Management
72
Lazard Asset Management
New York
$229K – – –
PWSG
73
Pacific Wealth Strategies Group
California
$210K – – –
Northwestern Mutual Wealth Management
74
Northwestern Mutual Wealth Management
Wisconsin
$190K -$50.9K -2,084 -21%
SIA
75
Sit Investment Associates
Minnesota
$176K -$4.69M -192,070 -96%
1 2
3
4 5

BBN Hedge Fund Activity: Q3 2019 in Review

98 of the 4,561 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2019, worth a combined $246M — up 22% from $201M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of BBN and 10 opened new positions — a net loss of 1 holder — while 20 trimmed existing stakes and 41 added.

The largest buyer was Guggenheim Capital, adding an estimated $31M. The largest seller was Sit Investment Associates, cutting an estimated $4.69M.

  • 98 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2019, down from 99 in Q2 2019.
  • Funds reported $246M of BlackRock Taxable Municipal Bond Trust stock for Q3 2019, up 22% quarter-over-quarter.
  • 10 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2019 and 11 closed out, a net change of -1 holder.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2019 was Guggenheim Capital, an estimated $31M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2019 was Sit Investment Associates, an estimated $4.69M sold.

Based on aggregated 13F filings for Q3 2019.