BlackRock Taxable Municipal Bond Trust
BBN
74 hedge funds and large institutions have $185M invested in BlackRock Taxable Municipal Bond Trust in 2014 Q1 according to their latest regulatory filings, with 13 funds opening new positions, 27 increasing their positions, 19 reducing their positions, and 2 closing their positions.
550% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 2
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
42% more repeat investments, than reductions
Existing positions increased: 27 | Existing positions reduced: 19
17% more funds holding
Funds holding: 63 → 74 (+11)
10% more capital invested
Capital invested by funds: $168M → $185M (+$16.8M)
0.63% more ownership
Funds ownership: 15.38% → 16.01% (+0.63%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
+$7.59M |
| 2 |
OHA
Oak Hill Advisors
New York
|
+$6.26M |
| 3 |
AllianceBernstein
Nashville,
Tennessee
|
+$4.19M |
| 4 |
Morgan Stanley
New York
|
+$1.83M |
| 5 |
OA
Oxbow Advisors
Austin,
Texas
|
+$1.48M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PRCM
Pine River Capital Management
Minnetonka,
Minnesota
|
-$10.7M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$9.28M |
| 3 |
ACM
Avalon Capital Management
Port Of Redwood City,
California
|
-$1.5M |
| 4 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$1.31M |
| 5 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$739K |
BBN Hedge Fund Activity: Q1 2014 in Review
74 of the 3,474 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q1 2014, worth a combined $185M — up 10% from $168M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new BBN positions and 2 closed out — a net gain of 11 holders — while 27 added to existing stakes and 19 trimmed.
The largest buyer was Wells Fargo, adding an estimated $7.59M. The largest seller was Pine River Capital Management, exiting entirely with an estimated $10.7M sold.
- 74 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q1 2014, up from 63 in Q4 2013.
- Funds reported $185M of BlackRock Taxable Municipal Bond Trust stock for Q1 2014, up 10% quarter-over-quarter.
- 13 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q1 2014 and 2 closed out, a net change of +11 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q1 2014 was Wells Fargo, an estimated $7.59M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q1 2014 was Pine River Capital Management, an estimated $10.7M sold.
Based on aggregated 13F filings for Q1 2014.