BlackRock Taxable Municipal Bond Trust
BBN
103 hedge funds and large institutions have $182M invested in BlackRock Taxable Municipal Bond Trust in 2018 Q4 according to their latest regulatory filings, with 28 funds opening new positions, 32 increasing their positions, 24 reducing their positions, and 17 closing their positions.
65% more first-time investments, than exits
New positions opened: 28 | Existing positions closed: 17
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
33% more repeat investments, than reductions
Existing positions increased: 32 | Existing positions reduced: 24
12% more funds holding
Funds holding: 92 → 103 (+11)
7% more capital invested
Capital invested by funds: $170M → $182M (+$12.1M)
2.3% more ownership
Funds ownership: 12.8% → 15.1% (+2.3%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HH
Hilltop Holdings
Dallas,
Texas
|
+$10.9M |
| 2 |
Goldman Sachs
New York
|
+$8.87M |
| 3 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$3.93M |
| 4 |
Morgan Stanley
New York
|
+$3.45M |
| 5 |
TIM
Tortoise Investment Management
White Plains,
New York
|
+$1.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LB
Landmark Bank
Columbia,
Missouri
|
-$9.42M |
| 2 |
IP
Intellectus Partners
San Francisco,
California
|
-$1.21M |
| 3 |
DADC
D.A. Davidson & Co
Great Falls,
Montana
|
-$1.11M |
| 4 |
NMC
Nine Masts Capital
Central,
Hong Kong
|
-$823K |
| 5 |
OA
Oxbow Advisors
Austin,
Texas
|
-$805K |
BBN Hedge Fund Activity: Q4 2018 in Review
103 of the 4,505 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2018, worth a combined $182M — up 7.1% from $170M a quarter earlier.
Buyers outnumbered sellers: 28 funds opened new BBN positions and 17 closed out — a net gain of 11 holders — while 32 added to existing stakes and 24 trimmed.
The largest buyer was Hilltop Holdings, adding an estimated $10.9M. The largest seller was Landmark Bank, exiting entirely with an estimated $9.42M sold.
- 103 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2018, up from 92 in Q3 2018.
- Funds reported $182M of BlackRock Taxable Municipal Bond Trust stock for Q4 2018, up 7.1% quarter-over-quarter.
- 28 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2018 and 17 closed out, a net change of +11 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2018 was Hilltop Holdings, an estimated $10.9M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2018 was Landmark Bank, an estimated $9.42M sold.
Based on aggregated 13F filings for Q4 2018.