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Vanguard Tax-Exempt Bond Index Fund
VTEB

98 hedge funds and large institutions have $539M invested in Vanguard Tax-Exempt Bond Index Fund in 2017 Q1 according to their latest regulatory filings, with 23 funds opening new positions, 45 increasing their positions, 17 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

188% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 8

165% more repeat investments, than reductions

Existing positions increased: 45 | Existing positions reduced: 17

67% more capital invested

Capital invested by funds: $323M → $539M (+$216M)

20% more funds holding in top 10

Funds holding in top 10: 5 → 6 (+1)

17% more funds holding

Funds holding: 84 → 98 (+14)

1.67% more ownership

Funds ownership: 53.08% → 54.76% (+1.7%)

Holders
98
Holders Change
+14
Holders Change %
+16.67%
% of All Funds
2.44%
Holding in Top 10
6
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+20%
% of All Funds
0.15%
New
23
Increased
45
Reduced
17
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
RJA
Raymond James & Associates
Florida
+$115M
2
CSIA
Charles Schwab Investment Advisory
California
+$43.1M
3
UBS AM
UBS AM
Illinois
+$15.8M
4
Jane Street
Jane Street
New York
+$9.55M
5
Wells Fargo
Wells Fargo
California
+$8.3M

Top Sellers

1
UBS Group
UBS Group
Switzerland
-$10.8M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$7.59M
3
Bank of America
Bank of America
North Carolina
-$2.91M
4
CSM
CAMG Solamere Management
North Carolina
-$1.72M
5
RMC
Regis Management Company
California
-$1.36M
Name Holding Trade Value Shares
Change 		Change in
Stake
ERIM
26
Eagle Ridge Investment Management
Connecticut
$2.71M +$499K +9,896 +23%
Baird Financial Group
27
Baird Financial Group
Wisconsin
$2.61M +$599K +11,878 +30%
ZCA
28
Zeke Capital Advisors
Pennsylvania
$2.53M – – –
FM
29
Foster & Motley
Ohio
$2.51M +$939K +18,637 +60%
CISOA
30
Capital Investment Services of America
Wisconsin
$2.48M -$111K -2,200 -4%
BTS
31
BB&T Securities
Virginia
$2.43M +$768K +15,235 +47%
EA
32
Edge Advisors
Georgia
$2.24M +$601K +11,930 +37%
WIC
33
Whitegate Investment Counselors
New Hampshire
$2.01M +$2M +39,700 New
PFM
34
Phillips Financial Management
Indiana
$1.93M +$1.06M +20,946 +124%
LYV
35
Live Your Vision
Pennsylvania
$1.79M -$122K -2,422 -6%
NGA
36
Naples Global Advisors
Florida
$1.72M -$55.4K -1,100 -3%
LTFS
37
Ladenburg Thalmann Financial Services
Florida
$1.64M +$212K +4,216 +15%
PAG
38
Private Advisor Group
New Jersey
$1.41M +$137K +2,715 +11%
AACR
39
ACR Alpine Capital Research
Missouri
$1.28M – – –
HighTower Advisors
40
HighTower Advisors
Illinois
$1.27M +$1.04M +20,673 +478%
Royal Bank of Canada
41
Royal Bank of Canada
Ontario, Canada
$1.26M +$513K +10,180 +70%
AA
42
Alesco Advisors
New York
$1.17M – – –
CCG
43
Chatham Capital Group
Georgia
$1.16M +$15.1K +300 +1%
Vanguard Group
44
Vanguard Group
Pennsylvania
$1.03M +$1.02M +20,294 New
CPO
45
Cerity Partners OCIO
New York
$1.01M +$715K +14,195 +251%
BFG
46
Bouchey Financial Group
New York
$948K +$156K +3,098 +20%
ASN
47
Advisory Services Network
Georgia
$881K +$877K +17,400 New
BC
48
Bartlett & Co
Ohio
$794K +$9.07K +180 +1%
SIC
49
Sigma Investment Counselors
Michigan
$793K +$256K +5,080 +48%
IWMPD
50
Integrated Wealth Management (Palm Desert)
California
$791K -$44.8K -888 -5%
1
2
3 4 5

VTEB Hedge Fund Activity: Q1 2017 in Review

98 of the 4,017 institutional investors tracked by Wall St. Rank reported a position in Vanguard Tax-Exempt Bond Index Fund (VTEB) for Q1 2017, worth a combined $539M — up 67% from $323M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new VTEB positions and 8 closed out — a net gain of 15 holders — while 45 added to existing stakes and 17 trimmed.

The largest buyer was Raymond James & Associates, adding an estimated $115M. The largest seller was UBS Group, cutting an estimated $10.8M.

  • 98 institutional investors held Vanguard Tax-Exempt Bond Index Fund (VTEB) as of Q1 2017, up from 84 in Q4 2016.
  • Funds reported $539M of Vanguard Tax-Exempt Bond Index Fund stock for Q1 2017, up 67% quarter-over-quarter.
  • 23 funds opened new Vanguard Tax-Exempt Bond Index Fund positions in Q1 2017 and 8 closed out, a net change of +15 holders.
  • The largest Vanguard Tax-Exempt Bond Index Fund buyer in Q1 2017 was Raymond James & Associates, an estimated $115M added.
  • The largest Vanguard Tax-Exempt Bond Index Fund seller in Q1 2017 was UBS Group, an estimated $10.8M sold.

Based on aggregated 13F filings for Q1 2017.