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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
SSB
76
Sandy Spring Bank
Maryland
$82K +$84.2K +3,800 New
AA
77
Apriem Advisors
California
$60K – – –
Creative Planning
78
Creative Planning
Kansas
$57K +$27.4K +1,238 +89%
SPIA
79
Steward Partners Investment Advisory
New York
$54K +$55.4K +2,500 New
SIG
80
Stanford Investment Group
California
$46K – – –
CB
81
Community Bank
New York
$32K – – –
DSC
82
Duncker Streett & Co
Missouri
$32K – – –
Fifth Third Bancorp
83
Fifth Third Bancorp
Ohio
$28K – – –
OSNBOA
84
Old Second National Bank of Aurora
Illinois
$22K – – –
WT
85
Whittier Trust
California
$22K – – –
AC
86
Alexandria Capital
Virginia
$22K +$399 +18 +2%
SIM
87
Sonora Investment Management
Arizona
$21.6K – – –
PCM
88
Penserra Capital Management
California
$19K +$2.26K +102 +12%
AWM
89
Avior Wealth Management
Nebraska
$15K +$15.5K +700 New
BFEC
90
Benjamin F. Edwards & Company
Missouri
$10K – – –
CHC
91
City Holding Co
West Virginia
$10K – – –
WTB
92
Washington Trust Bank
Washington
$5K -$19.9K -900 -80%
KF
93
Krilogy Financial
Missouri
$1K – – –
JHIU
94
Janus Henderson Investors US
Colorado
– -$13.4M -557,929 Closed
NMC
95
Nine Masts Capital
Hong Kong
– -$2.37M -98,809 Closed
TC
96
TFS Capital
Pennsylvania
– -$659K -27,480 Closed
HH
97
Hilltop Holdings
Texas
– -$590K -24,645 Closed
SPC
98
Sigma Planning Corp
Michigan
– -$568K -23,690 Closed
MLL
99
Moody Lynn & Lieberson
Massachusetts
– -$567K -23,660 Closed
MIAN
100
Mariner Independent Advisor Network
Kansas
– -$537K -22,418 Closed
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.