Vanguard Core Tax-Exempt Bond ETF
VCRM
117 hedge funds and large institutions have $461M invested in Vanguard Core Tax-Exempt Bond ETF in 2025 Q4 according to their latest regulatory filings, with 46 funds opening new positions, 53 increasing their positions, 10 reducing their positions, and 5 closing their positions.
820% more first-time investments, than exits
New positions opened: 46 | Existing positions closed: 5
430% more repeat investments, than reductions
Existing positions increased: 53 | Existing positions reduced: 10
53% more capital invested
Capital invested by funds: $302M → $461M (+$159M)
52% more funds holding
Funds holding: 77 → 117 (+40)
40% more funds holding in top 10
Funds holding in top 10: 5 → 7 (+2)
0.74% more ownership
Funds ownership: 65.5% → 66.24% (+0.74%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AWM
Aprio Wealth Management
Atlanta,
Georgia
|
+$43.8M |
| 2 |
VP
Verum Partners
Charlotte,
North Carolina
|
+$22.5M |
| 3 |
CWS
Confluence Wealth Services
Mcmurray,
Pennsylvania
|
+$16.5M |
| 4 |
HSA
HBK Sorce Advisory
Erie,
Pennsylvania
|
+$14.4M |
| 5 |
TWM
Topsail Wealth Management
Charlotte,
North Carolina
|
+$9.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
-$5.64M |
| 2 |
JP Morgan Chase
New York
|
-$5.58M |
| 3 |
OMC
Old Mission Capital
Chicago,
Illinois
|
-$4.93M |
| 4 |
WF
Wayfinding Financial
Lynnwood,
Washington
|
-$3.12M |
| 5 |
VBA
von Borstel & Associates
The Dalles,
Oregon
|
-$2.81M |
VCRM Hedge Fund Activity: Q4 2025 in Review
117 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Vanguard Core Tax-Exempt Bond ETF (VCRM) for Q4 2025, worth a combined $461M — up 53% from $302M a quarter earlier.
Buyers outnumbered sellers: 46 funds opened new VCRM positions and 5 closed out — a net gain of 41 holders — while 53 added to existing stakes and 10 trimmed.
The largest buyer was Aprio Wealth Management, opening a new position worth an estimated $43.8M. The largest seller was Thrivent Financial for Lutherans, cutting an estimated $5.64M.
- 117 institutional investors held Vanguard Core Tax-Exempt Bond ETF (VCRM) as of Q4 2025, up from 77 in Q3 2025.
- Funds reported $461M of Vanguard Core Tax-Exempt Bond ETF stock for Q4 2025, up 53% quarter-over-quarter.
- 46 funds opened new Vanguard Core Tax-Exempt Bond ETF positions in Q4 2025 and 5 closed out, a net change of +41 holders.
- The largest Vanguard Core Tax-Exempt Bond ETF buyer in Q4 2025 was Aprio Wealth Management, an estimated $43.8M added.
- The largest Vanguard Core Tax-Exempt Bond ETF seller in Q4 2025 was Thrivent Financial for Lutherans, an estimated $5.64M sold.
Based on aggregated 13F filings for Q4 2025.