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Vanguard Tax-Exempt Bond Index Fund
VTEB

197 hedge funds and large institutions have $2.27B invested in Vanguard Tax-Exempt Bond Index Fund in 2018 Q2 according to their latest regulatory filings, with 36 funds opening new positions, 85 increasing their positions, 49 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

140% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 15

73% more repeat investments, than reductions

Existing positions increased: 85 | Existing positions reduced: 49

32% more capital invested

Capital invested by funds: $1.72B → $2.27B (+$543M)

12% more funds holding

Funds holding: 176 → 197 (+21)

5.56% more ownership

Funds ownership: 65.01% → 70.57% (+5.6%)

20% less funds holding in top 10

Funds holding in top 10: 10 → 8 (-2)

Holders
197
Holders Change
+21
Holders Change %
+11.93%
% of All Funds
4.51%
Holding in Top 10
8
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-20%
% of All Funds
0.18%
New
36
Increased
85
Reduced
49
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
CSIA
Charles Schwab Investment Advisory
California
+$374M
2
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$52.1M
3
W
Wealthfront
California
+$50.1M
4
CWM
Cornerstone Wealth Management
Missouri
+$48.6M
5
RJA
Raymond James & Associates
Florida
+$27.2M

Top Sellers

1
Bank of America
Bank of America
North Carolina
-$18.4M
2
Jane Street
Jane Street
New York
-$9.64M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$6.95M
4
Bank of New York Mellon
Bank of New York Mellon
New York
-$3.77M
5
ST
Smithfield Trust
Pennsylvania
-$2.93M
Name Holding Trade Value Shares
Change 		Change in
Stake
LPT
26
Legacy Private Trust
Wisconsin
$8.7M +$5.16M +101,660 +147%
MA
27
MCF Advisors
Kentucky
$7.82M +$7.79M +153,471 New
IA
28
Independence Advisors
Pennsylvania
$7.49M +$923K +18,179 +14%
AF
29
Advisornet Financial
Minnesota
$7.47M +$685K +13,499 +10%
HI
30
Hudock Inc
Pennsylvania
$6.95M -$193K -3,797 -3%
BCI
31
Brinker Capital Investments
Pennsylvania
$6.93M -$1.32M -25,974 -16%
AWM
32
Altium Wealth Management
New York
$6.28M +$1.61M +31,750 +35%
WIC
33
Whitegate Investment Counselors
New Hampshire
$5.84M +$381K +7,507 +7%
CCP
34
Cardan Capital Partners
Colorado
$5.73M +$466K +9,182 +9%
RMC
35
Regis Management Company
California
$5.06M -$53.7K -1,058 -1%
ERIM
36
Eagle Ridge Investment Management
Connecticut
$4.8M +$409K +8,064 +9%
AG
37
Advisor Group
Arizona
$4.58M +$174K +3,422 +4%
RFO
38
RiverGlades Family Offices
Florida
$4.01M – – –
CSM
39
CAMG Solamere Management
North Carolina
$3.9M -$35.5K -700 -0.9%
BFG
40
Bouchey Financial Group
New York
$3.87M +$173K +3,405 +5%
FM
41
Foster & Motley
Ohio
$3.84M +$269K +5,309 +8%
MFS
42
McNamara Financial Services
Massachusetts
$3.83M +$3.82M +75,221 New
UCFA
43
United Capital Financial Advisors
Texas
$3.53M -$71.4K -1,406 -2%
OIWM
44
OptiFour Integrated Wealth Management
Virginia
$3.16M -$15.5K -305 -0.5%
FA
45
FDx Advisors
Illinois
$3M -$579K -11,406 -16%
PNC Financial Services Group
46
PNC Financial Services Group
Pennsylvania
$2.96M +$632K +12,455 +27%
BUB
47
BBVA USA Bancshares
Texas
$2.89M +$331K +6,526 +13%
RJT
48
Raymond James Trust
Florida
$2.89M +$2.87M +56,639 New
PFM
49
Phillips Financial Management
Indiana
$2.84M +$71.5K +1,408 +3%
PCA
50
Personal Capital Advisors
California
$2.72M +$2.71M +53,354 New
1
2
3 4 5

VTEB Hedge Fund Activity: Q2 2018 in Review

197 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in Vanguard Tax-Exempt Bond Index Fund (VTEB) for Q2 2018, worth a combined $2.27B — up 32% from $1.72B a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new VTEB positions and 15 closed out — a net gain of 21 holders — while 85 added to existing stakes and 49 trimmed.

The largest buyer was Charles Schwab Investment Advisory, adding an estimated $374M. The largest seller was Bank of America, cutting an estimated $18.4M.

  • 197 institutional investors held Vanguard Tax-Exempt Bond Index Fund (VTEB) as of Q2 2018, up from 176 in Q1 2018.
  • Funds reported $2.27B of Vanguard Tax-Exempt Bond Index Fund stock for Q2 2018, up 32% quarter-over-quarter.
  • 36 funds opened new Vanguard Tax-Exempt Bond Index Fund positions in Q2 2018 and 15 closed out, a net change of +21 holders.
  • The largest Vanguard Tax-Exempt Bond Index Fund buyer in Q2 2018 was Charles Schwab Investment Advisory, an estimated $374M added.
  • The largest Vanguard Tax-Exempt Bond Index Fund seller in Q2 2018 was Bank of America, an estimated $18.4M sold.

Based on aggregated 13F filings for Q2 2018.