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Vanguard Total Bond Market
BND

500 hedge funds and large institutions have $20.5B invested in Vanguard Total Bond Market in 2016 Q1 according to their latest regulatory filings, with 66 funds opening new positions, 205 increasing their positions, 172 reducing their positions, and 35 closing their positions.

New
Increased
Maintained
Reduced
Closed

89% more first-time investments, than exits

New positions opened: 66 | Existing positions closed: 35

19% more repeat investments, than reductions

Existing positions increased: 205 | Existing positions reduced: 172

10% more capital invested

Capital invested by funds: $18.7B → $20.5B (+$1.86B)

5% more funds holding

Funds holding: 474 → 500 (+26)

4% more funds holding in top 10

Funds holding in top 10: 96 → 100 (+4)

2.37% less ownership

Funds ownership: 72.63% → 70.25% (-2.4%)

Holders
500
Holders Change
+26
Holders Change %
+5.49%
% of All Funds
13.32%
Holding in Top 10
100
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+4.17%
% of All Funds
2.66%
New
66
Increased
205
Reduced
172
Closed
35
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
+$275M
2
USAA
United Services Automobile Association
Texas
+$91.2M
3
Goldman Sachs
Goldman Sachs
New York
+$90M
4
State Street
State Street
Massachusetts
+$84M
5
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$82.1M

Top Sellers

Rank Fund Capital Flow
1
MFRM
Milliman Financial Risk Management
Illinois
-$548M
2
WIM
Windhaven Investment Management
Massachusetts
-$86.7M
3
CAPTRUST Financial Advisors
CAPTRUST Financial Advisors
North Carolina
-$40.9M
4
BlackRock
BlackRock
New York
-$40.2M
5
PCA
Personal Capital Advisors
California
-$39.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
First Eagle Investment Management
176
First Eagle Investment Management
New York
$4.06M – – –
BFEC
177
Benjamin F. Edwards & Company
Missouri
$3.87M +$798K +9,756 +26%
BC
178
Bartlett & Co
Ohio
$3.82M -$65.4K -800 -2%
VCM
179
Versant Capital Management
Arizona
$3.81M -$168K -2,048 -4%
CB
180
Commerce Bank
Missouri
$3.8M +$122K +1,490 +3%
Bank of Montreal
181
Bank of Montreal
Ontario, Canada
$3.76M -$1.06M -12,918 -22%
FMC
182
First Merchants Corp
Indiana
$3.72M -$30.3K -370 -0.8%
BCA
183
Bernzott Capital Advisors
California
$3.49M – – –
RW
184
Rand Wealth
Maryland
$3.43M +$1.3M +15,937 +63%
FA
185
Fagan Associates
New York
$3.43M +$715K +8,744 +27%
KC
186
Kingfisher Capital
North Carolina
$3.28M -$355K -4,343 -10%
RG
187
Rathbones Group
United Kingdom
$3.21M +$106K +1,300 +3%
CAN
188
Cetera Advisor Networks
California
$3.15M +$396K +4,837 +15%
FPFS
189
First Personal Financial Services
North Carolina
$3.09M +$166K +2,028 +6%
WAM
190
Wolverine Asset Management
Illinois
$3.09M +$857K +10,474 +39%
EPP
191
ETF Portfolio Partners
Kansas
$3.09M -$81K -990 -3%
ABC
192
Associated Banc-Corp
Wisconsin
$3.08M +$262K +3,205 +9%
RMC
193
Regis Management Company
California
$3.01M -$123K -1,500 -4%
GAM
194
Gould Asset Management
California
$2.99M +$590K +7,210 +25%
CB
195
Community Bank
New York
$2.99M +$20.2K +247 +0.7%
IA
196
IFP Advisors
Florida
$2.98M -$12.3M -150,698 -80%
Millennium Management
197
Millennium Management
New York
$2.88M +$1.07M +13,063 +60%
TD Asset Management
198
TD Asset Management
Ontario, Canada
$2.82M +$180K +2,196 +7%
BCM
199
Brookstone Capital Management
Illinois
$2.79M -$847K -10,354 -23%
ANTB
200
AMG National Trust Bank
Colorado
$2.77M +$121K +1,484 +5%
6 7
8
9 10

BND Hedge Fund Activity: Q1 2016 in Review

500 of the 3,754 institutional investors tracked by Wall St. Rank reported a position in Vanguard Total Bond Market (BND) for Q1 2016, worth a combined $20.5B — up 10% from $18.7B a quarter earlier.

Buyers outnumbered sellers: 66 funds opened new BND positions and 35 closed out — a net gain of 31 holders — while 205 added to existing stakes and 172 trimmed.

The largest buyer was LPL Financial, adding an estimated $275M. The largest seller was Milliman Financial Risk Management, cutting an estimated $548M.

  • 500 institutional investors held Vanguard Total Bond Market (BND) as of Q1 2016, up from 474 in Q4 2015.
  • Funds reported $20.5B of Vanguard Total Bond Market stock for Q1 2016, up 10% quarter-over-quarter.
  • 66 funds opened new Vanguard Total Bond Market positions in Q1 2016 and 35 closed out, a net change of +31 holders.
  • The largest Vanguard Total Bond Market buyer in Q1 2016 was LPL Financial, an estimated $275M added.
  • The largest Vanguard Total Bond Market seller in Q1 2016 was Milliman Financial Risk Management, an estimated $548M sold.

Based on aggregated 13F filings for Q1 2016.