We are live on ! Find out more
VTEB icon

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.

New
Increased
Maintained
Reduced
Closed

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)

Holders
1,230
Holders Change
+23
Holders Change %
+1.91%
% of All Funds
16.14%
Holding in Top 10
77
Holding in Top 10 Change
-14
Holding in Top 10 Change %
-15.38%
% of All Funds
1.01%
New
103
Increased
533
Reduced
439
Closed
63
Calls
$14.1M
Puts
$2.8M
Net Calls
+$11.3M
Net Calls Change
+$8.29M

Top Buyers

Rank Fund Capital Flow
1
Wellington Management Group
Wellington Management Group
Massachusetts
+$341M
2
Betterment LLC
Betterment LLC
New York
+$299M
3
Mercer Global Advisors
Mercer Global Advisors
Colorado
+$157M
4
TIAA Trust, National Association
TIAA Trust, National Association
North Carolina
+$88.5M
5
Jane Street
Jane Street
New York
+$84M

Top Sellers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
-$440M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$211M
3
Corient Private Wealth
Corient Private Wealth
Florida
-$94.1M
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$64.9M
5
KIM
Kestra Investment Management
Texas
-$41M
Name Holding Trade Value Shares
Change 		Change in
Stake
SPFA
1101
Summit Place Financial Advisors
New Jersey
$207K +$203K +4,125 New
SIG
1102
Spinnaker Investment Group
California
$206K -$29.7K -605 -13%
XPN
1103
XY Planning Network
Montana
$204K – – –
WSFS
1104
Wilmington Savings Fund Society
Delaware
$203K -$2.02M -41,082 -91%
SL
1105
SWMG LLC
Texas
$202K +$197K +4,004 New
YIA
1106
YHB Investment Advisors
Connecticut
$202K +$198K +4,036 New
CIAS
1107
Capital Investment Advisory Services
North Carolina
$201K +$197K +4,013 New
OWP
1108
ORG Wealth Partners
Texas
$200K – – –
LBC
1109
Lowe Brockenbrough & Co
Virginia
$200K +$197K +4,000 New
LFAS
1110
Level Four Advisory Services
Texas
$200K +$196K +3,998 New
FP
1111
Financial Perspectives
Minnesota
$196K +$12.3K +250 +7%
MA
1112
MCF Advisors
Kentucky
$193K +$9.04K +184 +5%
FC
1113
Fairscale Capital
New Hampshire
$178K – – –
RF
1114
Robinswood Financial
Washington
$177K – – –
VCM
1115
Versant Capital Management
Arizona
$169K +$983 +20 +0.6%
AT
1116
Arlington Trust
Alabama
$168K – – –
RLIM
1117
Red Lighthouse Investment Management
New York
$164K – – –
VWWMG
1118
Vermillion & White Wealth Management Group
Pennsylvania
$161K +$4.82K +98 +3%
AW
1119
Avion Wealth
Texas
$157K +$154K +3,139 New
WT
1120
Whittier Trust
California
$150K -$14.7K -300 -9%
IAS
1121
IMA Advisory Services
Colorado
$150K – – –
1L
1122
10Elms LLP
Oklahoma
$142K – – –
FNWA
1123
Financial Network Wealth Advisors
Utah
$141K – – –
MBFW
1124
Morton Brown Family Wealth
Pennsylvania
$137K +$1.13K +23 +0.8%
MA
1125
Montag & Associates
Georgia
$135K – – –
43 44
45
46 47

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.