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Vanguard Tax-Exempt Bond Index Fund
VTEB

1,216 hedge funds and large institutions have $26.5B invested in Vanguard Tax-Exempt Bond Index Fund in 2025 Q1 according to their latest regulatory filings, with 105 funds opening new positions, 506 increasing their positions, 443 reducing their positions, and 91 closing their positions.

New
Increased
Maintained
Reduced
Closed

15% more first-time investments, than exits

New positions opened: 105 | Existing positions closed: 91

14% more repeat investments, than reductions

Existing positions increased: 506 | Existing positions reduced: 443

1% more funds holding in top 10

Funds holding in top 10: 103 → 104 (+1)

0.22% more ownership

Funds ownership: 74.39% → 74.61% (+0.22%)

0% more capital invested

Capital invested by funds: $26.5B → $26.5B (+$36.4M)

0% less funds holding

Funds holding: 1,221 → 1,216 (-5)

97% less call options, than puts

Call options by funds: $844K | Put options by funds: $29.7M

Holders
1,216
Holders Change
-5
Holders Change %
-0.41%
% of All Funds
16.3%
Holding in Top 10
104
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+0.97%
% of All Funds
1.39%
New
105
Increased
506
Reduced
443
Closed
91
Calls
$844K
Puts
$29.7M
Net Calls
-$28.9M
Net Calls Change
-$25.8M

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$458M
2
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$102M
3
FWI
Facet Wealth Inc
Maryland
+$87.1M
4
Creative Planning
Creative Planning
Kansas
+$50.9M
5
GC
Garde Capital
Washington
+$47.6M

Top Sellers

Rank Fund Capital Flow
1
TIAA Trust, National Association
TIAA Trust, National Association
North Carolina
-$164M
2
Charles Schwab
Charles Schwab
California
-$89.4M
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$80.7M
4
MAS
Meeder Advisory Services
Ohio
-$80.6M
5
Wealthfront Advisers
Wealthfront Advisers
California
-$78.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
SL
1101
SWMG LLC
Texas
$206K -$31.3K -625 -13%
AFG
1102
Albion Financial Group
Utah
$203K – – –
HWM
1103
Howard Wealth Management
Connecticut
$202K -$5.45K -109 -3%
GWMR
1104
GC Wealth Management RIA
Massachusetts
$202K -$403K -8,065 -67%
SNB
1105
Security National Bank
Nebraska
$201K +$196K +3,918 +2,799%
YIA
1106
YHB Investment Advisors
Connecticut
$200K +$202K +4,036 New
OWP
1107
ORG Wealth Partners
Texas
$199K -$66.3K -1,326 -25%
FP
1108
Financial Perspectives
Minnesota
$182K – – –
RF
1109
Robinswood Financial
Washington
$176K – – –
AT
1110
Arlington Trust
Alabama
$166K – – –
VCM
1111
Versant Capital Management
Arizona
$165K +$600 +12 +0.4%
HI
1112
Hendershot Investments
Virginia
$164K – – –
WT
1113
Whittier Trust
California
$164K – – –
LFA
1114
LGT Financial Advisors
Texas
$164K +$65.9K +1,317 +66%
SIM
1115
Synergy Investment Management
Florida
$163K -$2.9K -58 -2%
BI
1116
Binnacle Investments
Iowa
$163K +$164K +3,284 New
SWC
1117
Spectrum Wealth Counsel
Indiana
$158K – – –
VWWMG
1118
Vermillion & White Wealth Management Group
Pennsylvania
$154K +$111K +2,224 +251%
SSB
1119
Sandy Spring Bank
Maryland
$152K +$1.2K +24 +0.8%
AA
1120
Addison Advisors
Vermont
$152K -$14.8K -295 -9%
IAS
1121
IMA Advisory Services
Colorado
$148K +$150K +2,992 New
1L
1122
10Elms LLP
Oklahoma
$140K +$142K +2,830 New
FNWA
1123
Financial Network Wealth Advisors
Utah
$140K – – –
MA
1124
Montag & Associates
Georgia
$134K -$75.8K -1,515 -36%
CTC
1125
Central Trust Company
Missouri
$130K +$16.9K +337 +15%
43 44
45
46 47

VTEB Hedge Fund Activity: Q1 2025 in Review

1,216 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Vanguard Tax-Exempt Bond Index Fund (VTEB) for Q1 2025, worth a combined $26.5B — up 0.14% from $26.5B a quarter earlier.

Buyers outnumbered sellers: 105 funds opened new VTEB positions and 91 closed out — a net gain of 14 holders — while 506 added to existing stakes and 443 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $458M. The largest seller was TIAA Trust, National Association, cutting an estimated $164M.

  • 1,216 institutional investors held Vanguard Tax-Exempt Bond Index Fund (VTEB) as of Q1 2025, down from 1,221 in Q4 2024.
  • Funds reported $26.5B of Vanguard Tax-Exempt Bond Index Fund stock for Q1 2025, up 0.14% quarter-over-quarter.
  • 105 funds opened new Vanguard Tax-Exempt Bond Index Fund positions in Q1 2025 and 91 closed out, a net change of +14 holders.
  • The largest Vanguard Tax-Exempt Bond Index Fund buyer in Q1 2025 was Morgan Stanley, an estimated $458M added.
  • The largest Vanguard Tax-Exempt Bond Index Fund seller in Q1 2025 was TIAA Trust, National Association, an estimated $164M sold.

Based on aggregated 13F filings for Q1 2025.