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Vanguard Tax-Exempt Bond Index Fund
VTEB

158 hedge funds and large institutions have $1.37B invested in Vanguard Tax-Exempt Bond Index Fund in 2017 Q4 according to their latest regulatory filings, with 45 funds opening new positions, 72 increasing their positions, 19 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

650% more first-time investments, than exits

New positions opened: 45 | Existing positions closed: 6

279% more repeat investments, than reductions

Existing positions increased: 72 | Existing positions reduced: 19

71% more funds holding in top 10

Funds holding in top 10: 7 → 12 (+5)

41% more capital invested

Capital invested by funds: $967M → $1.37B (+$401M)

33% more funds holding

Funds holding: 119 → 158 (+39)

4.27% more ownership

Funds ownership: 58.5% → 62.77% (+4.3%)

Holders
158
Holders Change
+39
Holders Change %
+32.77%
% of All Funds
3.58%
Holding in Top 10
12
Holding in Top 10 Change
+5
Holding in Top 10 Change %
+71.43%
% of All Funds
0.27%
New
45
Increased
72
Reduced
19
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
W
Wealthfront
California
+$138M
2
CSIA
Charles Schwab Investment Advisory
California
+$94.6M
3
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$24.7M
4
RJA
Raymond James & Associates
Florida
+$19.7M
5
ST
Smithfield Trust
Pennsylvania
+$14.1M

Top Sellers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$13.8M
2
Jane Street
Jane Street
New York
-$10.1M
3
CPO
Cerity Partners OCIO
New York
-$1.46M
4
NC
NewSquare Capital
Pennsylvania
-$1.31M
5
ZCA
Zeke Capital Advisors
Pennsylvania
-$804K
Name Holding Trade Value Shares
Change 		Change in
Stake
PHIMC
101
Private Harbour Investment Management & Counsel
Ohio
$478K – – –
FAN
102
Financial Advisors Network
California
$474K +$474K +9,179 New
M&T Bank
103
M&T Bank
New York
$441K +$200K +3,871 +83%
Millennium Management
104
Millennium Management
New York
$440K +$439K +8,507 New
SF
105
Synovus Financial
Georgia
$423K +$423K +8,181 New
WWM
106
Windsor Wealth Management
Indiana
$414K +$414K +8,011 New
AWA
107
Arete Wealth Advisors
Illinois
$399K +$399K +7,725 New
LNC
108
Lincoln National Corp
Pennsylvania
$393K +$392K +7,596 New
TIM
109
Tortoise Investment Management
New York
$385K – – –
CFA
110
Capstone Financial Advisors
Illinois
$382K +$382K +7,392 New
PCM
111
Prelude Capital Management
New York
$373K -$40.7K -788 -10%
Jane Street
112
Jane Street
New York
$356K -$10.1M -196,224 -97%
WLIM
113
White Lighthouse Investment Management
Massachusetts
$288K +$288K +5,568 New
MA
114
Mangham Associates
Virginia
$260K +$259K +5,019 New
CCT
115
Country Club Trust
Missouri
$260K +$260K +5,035 New
AWMG
116
Alliance Wealth Management Group
New Jersey
$258K -$258K -5,000 -50%
VF
117
Virtu Financial
New York
$249K +$249K +4,812 New
CAN
118
Cetera Advisor Networks
California
$239K +$10.4K +202 +5%
JIR
119
James Investment Research
Ohio
$237K +$118K +2,285 +99%
WTC
120
WhitTier Trust Company
Nevada
$233K – – –
FHC
121
First Heartland Consultants
Missouri
$218K -$4.49K -87 -2%
CCM
122
Crabel Capital Management
California
$215K +$215K +4,158 New
JWS
123
Juncture Wealth Strategies
Arizona
$207K +$207K +4,001 New
CL
124
CPWM LLC
Washington
$201K +$201K +3,888 New
SWP
125
Stratos Wealth Partners
Ohio
$200K +$200K +3,880 New
3 4
5
6 7

VTEB Hedge Fund Activity: Q4 2017 in Review

158 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Vanguard Tax-Exempt Bond Index Fund (VTEB) for Q4 2017, worth a combined $1.37B — up 41% from $967M a quarter earlier.

Buyers outnumbered sellers: 45 funds opened new VTEB positions and 6 closed out — a net gain of 39 holders — while 72 added to existing stakes and 19 trimmed.

The largest buyer was Wealthfront, adding an estimated $138M. The largest seller was Susquehanna International Group, exiting entirely with an estimated $13.8M sold.

  • 158 institutional investors held Vanguard Tax-Exempt Bond Index Fund (VTEB) as of Q4 2017, up from 119 in Q3 2017.
  • Funds reported $1.37B of Vanguard Tax-Exempt Bond Index Fund stock for Q4 2017, up 41% quarter-over-quarter.
  • 45 funds opened new Vanguard Tax-Exempt Bond Index Fund positions in Q4 2017 and 6 closed out, a net change of +39 holders.
  • The largest Vanguard Tax-Exempt Bond Index Fund buyer in Q4 2017 was Wealthfront, an estimated $138M added.
  • The largest Vanguard Tax-Exempt Bond Index Fund seller in Q4 2017 was Susquehanna International Group, an estimated $13.8M sold.

Based on aggregated 13F filings for Q4 2017.