BlackRock Taxable Municipal Bond Trust
BBN
121 hedge funds and large institutions have $293M invested in BlackRock Taxable Municipal Bond Trust in 2023 Q1 according to their latest regulatory filings, with 16 funds opening new positions, 38 increasing their positions, 39 reducing their positions, and 17 closing their positions.
8% more capital invested
Capital invested by funds: $272M → $293M (+$20.5M)
0.5% more ownership
Funds ownership: 27.38% → 27.88% (+0.5%)
3% less repeat investments, than reductions
Existing positions increased: 38 | Existing positions reduced: 39
6% less first-time investments, than exits
New positions opened: 16 | Existing positions closed: 17
2% less funds holding
Funds holding: 124 → 121 (-3)
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BAAM
Baker Avenue Asset Management
San Francisco,
California
|
+$4.47M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$4.32M |
| 3 |
EBWM
Eagle Bluffs Wealth Management
Columbia,
Missouri
|
+$4.13M |
| 4 |
HCM
Hudson Capital Management
Ramsey,
New Jersey
|
+$3.87M |
| 5 |
Morgan Stanley
New York
|
+$2.92M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCM
Penserra Capital Management
Orinda,
California
|
-$6.64M |
| 2 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
-$2.44M |
| 3 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$1.9M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$1.83M |
| 5 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
-$1.67M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
IWA
126
IBEX Wealth Advisors
Bedminster,
New Jersey
| – | -$716K | -42,529 | Closed |
|
|
EC
127
Elequin Capital
New York
| – | -$589K | -34,951 | Closed |
|
|
AWM
128
AE Wealth Management
Topeka,
Kansas
| – | -$464K | -27,562 | Closed |
|
|
BCA
129
Bay Colony Advisors
Concord,
Massachusetts
| – | -$417K | -24,762 | Closed |
|
|
LCM
130
Landscape Capital Management
Englewood,
New Jersey
| – | -$254K | -15,086 | Closed |
|
131
Citadel Advisors
Miami,
Florida
| – | -$183K | -10,841 | Closed |
|
132
Rockefeller Capital Management
New York
| – | -$33K | -2,000 | Closed |
|
133
Bessemer Group
Woodbridge,
New Jersey
| – | -$21K | -1,250 | Closed |
|
|
BONH
134
Bank of New Hampshire
Laconia,
New Hampshire
| – | -$20K | -1,200 | Closed |
|
|
AWM
135
Accurate Wealth Management
Wesley Chapel,
Florida
| – | -$17.9K | -1,000 | Closed |
|
|
GMA
136
Glassy Mountain Advisors
Bethesda,
Maryland
| – | -$10.1K | -600 | Closed |
|
|
EE
137
EWG Elevate
Roseville,
California
| – | -$5.1K | -303 | Closed |
|
138
Fidelity Investments
Boston,
Massachusetts
| – | -$17 | -1 | Closed |
|
BBN Hedge Fund Activity: Q1 2023 in Review
121 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q1 2023, worth a combined $293M — up 7.5% from $272M a quarter earlier.
Sellers outnumbered buyers: 17 funds closed out of BBN and 16 opened new positions — a net loss of 1 holder — while 39 trimmed existing stakes and 38 added.
The largest buyer was Baker Avenue Asset Management, adding an estimated $4.47M. The largest seller was Penserra Capital Management, exiting entirely with an estimated $6.64M sold.
- 121 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q1 2023, down from 124 in Q4 2022.
- Funds reported $293M of BlackRock Taxable Municipal Bond Trust stock for Q1 2023, up 7.5% quarter-over-quarter.
- 16 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q1 2023 and 17 closed out, a net change of -1 holder.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q1 2023 was Baker Avenue Asset Management, an estimated $4.47M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q1 2023 was Penserra Capital Management, an estimated $6.64M sold.
Based on aggregated 13F filings for Q1 2023.