BlackRock Taxable Municipal Bond Trust
BBN
115 hedge funds and large institutions have $330M invested in BlackRock Taxable Municipal Bond Trust in 2024 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 43 increasing their positions, 36 reducing their positions, and 18 closing their positions.
19% more repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 36
6% less funds holding
Funds holding: 122 → 115 (-7)
5.91% less ownership
Funds ownership: 39.98% → 34.07% (-5.9%)
14% less capital invested
Capital invested by funds: $385M → $330M (-$55M)
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
33% less first-time investments, than exits
New positions opened: 12 | Existing positions closed: 18
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
+$8.38M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$7.27M |
| 3 |
NMC
Nine Masts Capital
Central,
Hong Kong
|
+$2.38M |
| 4 |
LPL Financial
San Diego,
California
|
+$1.69M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$1.37M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$63.4M |
| 2 |
Osaic Holdings
Scottsdale,
Arizona
|
-$3.87M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$3.84M |
| 4 |
PCM
Penserra Capital Management
Orinda,
California
|
-$1.81M |
| 5 |
RCA
Reitz Capital Advisors
Freeland,
Michigan
|
-$1.47M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ONB
126
Old National Bancorp
Evansville,
Indiana
| – | -$217K | -13,332 | Closed |
|
127
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$172K | -10,559 | Closed |
|
|
EIA
128
Edgemoor Investment Advisors
Bethesda,
Maryland
| – | -$169K | -10,380 | Closed |
|
|
BI
129
Bramshill Investments
Naples,
Florida
| – | -$148K | -9,371 | Closed |
|
|
LA
130
LM Advisors
San Diego,
California
| – | -$32.5K | -2,000 | Closed |
|
|
MRCM
131
M&R Capital Management
Summit,
New Jersey
| – | -$32.5K | -1,998 | Closed |
|
|
KFI
132
Key Financial Inc
West Chester,
Pennsylvania
| – | -$24.4K | -1,500 | Closed |
|
|
TC
133
Truvestments Capital
Sarasota,
Florida
| – | -$16.3K | -1,000 | Closed |
|
134
JP Morgan Chase
New York
| – | -$15.2K | -935 | Closed |
|
BBN Hedge Fund Activity: Q1 2024 in Review
115 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q1 2024, worth a combined $330M — down 14% from $385M a quarter earlier.
Sellers outnumbered buyers: 18 funds closed out of BBN and 12 opened new positions — a net loss of 6 holders — while 36 trimmed existing stakes and 43 added.
The largest buyer was Envestnet Asset Management, opening a new position worth an estimated $8.38M. The largest seller was Morgan Stanley, cutting an estimated $63.4M.
- 115 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q1 2024, down from 122 in Q4 2023.
- Funds reported $330M of BlackRock Taxable Municipal Bond Trust stock for Q1 2024, down 14% quarter-over-quarter.
- 12 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q1 2024 and 18 closed out, a net change of -6 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q1 2024 was Envestnet Asset Management, an estimated $8.38M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q1 2024 was Morgan Stanley, an estimated $63.4M sold.
Based on aggregated 13F filings for Q1 2024.