Vanguard Tax-Exempt Bond Index Fund
VTEB
1,230 hedge funds and large institutions have $28.9B invested in Vanguard Tax-Exempt Bond Index Fund in 2025 Q3 according to their latest regulatory filings, with 103 funds opening new positions, 533 increasing their positions, 439 reducing their positions, and 63 closing their positions.
403% more call options, than puts
Call options by funds: $14.1M | Put options by funds: $2.8M
63% more first-time investments, than exits
New positions opened: 103 | Existing positions closed: 63
21% more repeat investments, than reductions
Existing positions increased: 533 | Existing positions reduced: 439
2% more funds holding
Funds holding: 1,207 → 1,230 (+23)
3% more capital invested
Capital invested by funds: $28B → $28.9B (+$971M)
4.8% less ownership
Funds ownership: 78.1% → 73.3% (-4.8%)
15% less funds holding in top 10
Funds holding in top 10: 91 → 77 (-14)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wellington Management Group
Boston,
Massachusetts
|
+$341M |
| 2 |
Betterment LLC
New York
|
+$299M |
| 3 |
Mercer Global Advisors
Denver,
Colorado
|
+$157M |
| 4 |
TIAA Trust, National Association
Charlotte,
North Carolina
|
+$88.5M |
| 5 |
Jane Street
New York
|
+$84M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
-$440M |
| 2 |
Envestnet Asset Management
Chicago,
Illinois
|
-$211M |
| 3 |
Corient Private Wealth
Miami,
Florida
|
-$94.1M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$64.9M |
| 5 |
KIM
Kestra Investment Management
Austin,
Texas
|
-$41M |
VTEB Hedge Fund Activity: Q3 2025 in Review
1,230 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Vanguard Tax-Exempt Bond Index Fund (VTEB) for Q3 2025, worth a combined $28.9B — up 3.5% from $28B a quarter earlier.
Buyers outnumbered sellers: 103 funds opened new VTEB positions and 63 closed out — a net gain of 40 holders — while 533 added to existing stakes and 439 trimmed.
The largest buyer was Wellington Management Group, opening a new position worth an estimated $341M. The largest seller was JP Morgan Chase, cutting an estimated $440M.
- 1,230 institutional investors held Vanguard Tax-Exempt Bond Index Fund (VTEB) as of Q3 2025, up from 1,207 in Q2 2025.
- Funds reported $28.9B of Vanguard Tax-Exempt Bond Index Fund stock for Q3 2025, up 3.5% quarter-over-quarter.
- 103 funds opened new Vanguard Tax-Exempt Bond Index Fund positions in Q3 2025 and 63 closed out, a net change of +40 holders.
- The largest Vanguard Tax-Exempt Bond Index Fund buyer in Q3 2025 was Wellington Management Group, an estimated $341M added.
- The largest Vanguard Tax-Exempt Bond Index Fund seller in Q3 2025 was JP Morgan Chase, an estimated $440M sold.
Based on aggregated 13F filings for Q3 2025.