BlackRock Taxable Municipal Bond Trust
BBN
74 hedge funds and large institutions have $158M invested in BlackRock Taxable Municipal Bond Trust in 2015 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 32 increasing their positions, 14 reducing their positions, and 10 closing their positions.
129% more repeat investments, than reductions
Existing positions increased: 32 | Existing positions reduced: 14
13% more capital invested
Capital invested by funds: $140M → $158M (+$18.1M)
0.91% more ownership
Funds ownership: 12.14% → 13.04% (+0.91%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
1% less funds holding
Funds holding: 75 → 74 (-1)
10% less first-time investments, than exits
New positions opened: 9 | Existing positions closed: 10
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$3.03M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$2.29M |
| 3 |
OA
Oxbow Advisors
Austin,
Texas
|
+$2.16M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$2.03M |
| 5 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$1.88M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$2.75M |
| 2 |
LCM
Laurion Capital Management
New York
|
-$1.75M |
| 3 |
OHA
Oak Hill Advisors
New York
|
-$1.1M |
| 4 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$733K |
| 5 |
PP
Paloma Partners
Greenwich,
Connecticut
|
-$687K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TRCT
76
Tower Research Capital (TRC)
New York
| $4K | +$4.08K | +199 | New |
|
|
RCM
77
Rivernorth Capital Management
West Palm Beach,
Florida
| – | -$2.75M | -136,149 | Closed |
|
|
LCM
78
Laurion Capital Management
New York
| – | -$1.75M | -86,893 | Closed |
|
|
OHA
79
Oak Hill Advisors
New York
| – | -$1.1M | -54,737 | Closed |
|
|
HCMT
80
Highland Capital Management (Texas)
Dallas,
Texas
| – | -$353K | -17,500 | Closed |
|
81
Cambridge Investment Research Advisors
Fairfield,
Iowa
| – | -$207K | -10,260 | Closed |
|
|
CCS
82
Crosspoint Capital Strategies
Orinda,
California
| – | -$169K | -8,373 | Closed |
|
|
WAM
83
Wolverine Asset Management
Chicago,
Illinois
| – | -$28K | -1,412 | Closed |
|
84
Bank of Montreal
Toronto,
Ontario, Canada
| – | -$20K | -1,000 | Closed |
|
|
BCM
85
Brookstone Capital Management
Wheaton,
Illinois
| – | -$9K | -446 | Closed |
|
BBN Hedge Fund Activity: Q4 2015 in Review
74 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2015, worth a combined $158M — up 13% from $140M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of BBN and 9 opened new positions — a net loss of 1 holder — while 14 trimmed existing stakes and 32 added.
The largest buyer was LPL Financial, adding an estimated $3.03M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $2.75M sold.
- 74 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2015, down from 75 in Q3 2015.
- Funds reported $158M of BlackRock Taxable Municipal Bond Trust stock for Q4 2015, up 13% quarter-over-quarter.
- 9 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2015 and 10 closed out, a net change of -1 holder.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2015 was LPL Financial, an estimated $3.03M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2015 was Rivernorth Capital Management, an estimated $2.75M sold.
Based on aggregated 13F filings for Q4 2015.