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BlackRock Taxable Municipal Bond Trust
BBN

105 hedge funds and large institutions have $176M invested in BlackRock Taxable Municipal Bond Trust in 2017 Q4 according to their latest regulatory filings, with 22 funds opening new positions, 33 increasing their positions, 27 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 10

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

22% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 27

21% more capital invested

Capital invested by funds: $145M → $176M (+$30.2M)

13% more funds holding

Funds holding: 93 → 105 (+12)

2.4% more ownership

Funds ownership: 10.87% → 13.27% (+2.4%)

Holders
105
Holders Change
+12
Holders Change %
+12.9%
% of All Funds
2.38%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
22
Increased
33
Reduced
27
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
+$1.43M
2
UBS Group
UBS Group
Switzerland
+$1.18M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$1.06M
4
Morgan Stanley
Morgan Stanley
New York
+$760K
5
Squarepoint
Squarepoint
New York
+$371K

Top Sellers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
-$839K
2
CI
Conning Inc
Connecticut
-$797K
3
William Blair & Company
William Blair & Company
Illinois
-$635K
4
PAG
Private Advisor Group
New Jersey
-$470K
5
SPC
Sigma Planning Corp
Michigan
-$469K
Name Holding Trade Value Shares
Change 		Change in
Stake
IA
76
IFP Advisors
Florida
$128K -$27.5K -1,182 -18%
NMC
77
Nine Masts Capital
Hong Kong
$128K +$128K +5,500 New
Northwestern Mutual Wealth Management
78
Northwestern Mutual Wealth Management
Wisconsin
$121K -$6.29K -271 -5%
Cohen & Steers
79
Cohen & Steers
New York
$109K – – –
MOS
80
MGO One Seven
Ohio
$104K +$105K +4,506 New
PG
81
Patten Group
Tennessee
$97K – – –
ARMC
82
American Research & Management Company
Massachusetts
$93K +$92.9K +4,000 New
RCC
83
Red Cedar Capital
Nebraska
$88K +$88.4K +3,808 New
EWM
84
Evercore Wealth Management
New York
$81K -$11.6K -500 -13%
AIM
85
Advantage Investment Management
Iowa
$78K +$17.3K +746 +28%
OSNBOA
86
Old Second National Bank of Aurora
Illinois
$75K – – –
SPIA
87
Steward Partners Investment Advisory
New York
$57K – – –
SEI Investments
88
SEI Investments
Pennsylvania
$48K – – –
FPS
89
Fieldpoint Private Securities
Connecticut
$30K – – –
DSC
90
Duncker Streett & Co
Missouri
$28K -$6.97K -300 -20%
Fifth Third Bancorp
91
Fifth Third Bancorp
Ohio
$28K – – –
US Bancorp
92
US Bancorp
Minnesota
$23K – – –
WT
93
Whittier Trust
California
$23K – – –
IWM
94
IHT Wealth Management
Illinois
$21K – – –
APA
95
American Portfolios Advisors
New York
$13.2K +$13.2K +569 New
AWM
96
Avior Wealth Management
Nebraska
$12K -$4.64K -200 -29%
BFEC
97
Benjamin F. Edwards & Company
Missouri
$11K – – –
CHC
98
City Holding Co
West Virginia
$11K – – –
WTB
99
Washington Trust Bank
Washington
$11K – – –
TA
100
Townsend & Associates
Colorado
$11K +$10.8K +465 New
1 2 3
4
5

BBN Hedge Fund Activity: Q4 2017 in Review

105 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2017, worth a combined $176M — up 21% from $145M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new BBN positions and 10 closed out — a net gain of 12 holders — while 33 added to existing stakes and 27 trimmed.

The largest buyer was Invesco, adding an estimated $1.43M. The largest seller was Sit Investment Associates, cutting an estimated $839K.

  • 105 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2017, up from 93 in Q3 2017.
  • Funds reported $176M of BlackRock Taxable Municipal Bond Trust stock for Q4 2017, up 21% quarter-over-quarter.
  • 22 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2017 and 10 closed out, a net change of +12 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2017 was Invesco, an estimated $1.43M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2017 was Sit Investment Associates, an estimated $839K sold.

Based on aggregated 13F filings for Q4 2017.