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BlackRock Taxable Municipal Bond Trust
BBN

74 hedge funds and large institutions have $158M invested in BlackRock Taxable Municipal Bond Trust in 2015 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 32 increasing their positions, 14 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

129% more repeat investments, than reductions

Existing positions increased: 32 | Existing positions reduced: 14

13% more capital invested

Capital invested by funds: $140M → $158M (+$18.1M)

0.91% more ownership

Funds ownership: 12.14% → 13.04% (+0.91%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

1% less funds holding

Funds holding: 75 → 74 (-1)

10% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 10

Holders
74
Holders Change
-1
Holders Change %
-1.33%
% of All Funds
1.94%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
9
Increased
32
Reduced
14
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
+$3.03M
2
UBS Group
UBS Group
Switzerland
+$2.29M
3
OA
Oxbow Advisors
Texas
+$2.16M
4
SIA
Sit Investment Associates
Minnesota
+$2.03M
5
PPA
Parametric Portfolio Associates
Washington
+$1.88M

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$2.75M
2
LCM
Laurion Capital Management
New York
-$1.75M
3
OHA
Oak Hill Advisors
New York
-$1.1M
4
GC
Guggenheim Capital
Illinois
-$733K
5
PP
Paloma Partners
Connecticut
-$687K
Name Holding Trade Value Shares
Change 		Change in
Stake
UBS Group
1
UBS Group
Switzerland
$17.8M +$2.29M +112,042 +15%
JHIU
2
Janus Henderson Investors US
Colorado
$15.9M +$627K +30,600 +4%
Morgan Stanley
3
Morgan Stanley
New York
$15.5M -$396K -19,345 -3%
Bank of America
4
Bank of America
North Carolina
$15.3M -$407K -19,891 -3%
Wells Fargo
5
Wells Fargo
California
$12.2M +$1.08M +52,839 +10%
Invesco
6
Invesco
Georgia
$10.5M -$28.8K -1,405 -0.3%
SIA
7
Sit Investment Associates
Minnesota
$9.34M +$2.03M +99,192 +29%
LPL Financial
8
LPL Financial
California
$6.87M +$3.03M +147,948 +85%
OA
9
Oxbow Advisors
Texas
$6.75M +$2.16M +105,297 +49%
FFA
10
First Foundation Advisors
California
$6.32M +$1.59M +77,579 +35%
Royal Bank of Canada
11
Royal Bank of Canada
Ontario, Canada
$5.36M +$454K +22,156 +10%
LI
12
Longer Investments
Arkansas
$4.58M -$170K -8,310 -4%
PMLI
13
Penn Mutual Life Insurance
Pennsylvania
$2.28M – – –
HighTower Advisors
14
HighTower Advisors
Illinois
$1.99M +$382K +18,643 +24%
FEG
15
Financial Enhancement Group
Indiana
$1.98M -$70.9K -3,462 -4%
RJA
16
Raymond James & Associates
Florida
$1.95M -$24.2K -1,180 -1%
PPA
17
Parametric Portfolio Associates
Washington
$1.93M +$1.88M +91,981 New
GC
18
Guggenheim Capital
Illinois
$1.64M -$733K -35,793 -87%
RJFSA
19
Raymond James Financial Services Advisors
Florida
$1.63M +$909K +44,366 +132%
YMRC
20
Yorktown Management & Research Company
Virginia
$1.26M +$717K +35,000 +140%
MIC
21
Meridian Investment Counsel
California
$1.13M – – –
ASN
22
Advisory Services Network
Georgia
$1.05M +$23K +1,125 +2%
Cohen & Steers
23
Cohen & Steers
New York
$875K – – –
AC
24
Addison Capital
Pennsylvania
$811K – – –
Commonwealth Equity Services
25
Commonwealth Equity Services
Massachusetts
$804K +$116K +5,682 +17%
1
2 3 4

BBN Hedge Fund Activity: Q4 2015 in Review

74 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2015, worth a combined $158M — up 13% from $140M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of BBN and 9 opened new positions — a net loss of 1 holder — while 14 trimmed existing stakes and 32 added.

The largest buyer was LPL Financial, adding an estimated $3.03M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $2.75M sold.

  • 74 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2015, down from 75 in Q3 2015.
  • Funds reported $158M of BlackRock Taxable Municipal Bond Trust stock for Q4 2015, up 13% quarter-over-quarter.
  • 9 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2015 and 10 closed out, a net change of -1 holder.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2015 was LPL Financial, an estimated $3.03M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2015 was Rivernorth Capital Management, an estimated $2.75M sold.

Based on aggregated 13F filings for Q4 2015.