Vanguard Tax-Exempt Bond Index Fund
VTEB
1,207 hedge funds and large institutions have $28B invested in Vanguard Tax-Exempt Bond Index Fund in 2025 Q2 according to their latest regulatory filings, with 104 funds opening new positions, 503 increasing their positions, 461 reducing their positions, and 101 closing their positions.
97% more call options, than puts
Call options by funds: $6.08M | Put options by funds: $3.08M
5% more capital invested
Capital invested by funds: $26.5B → $28B (+$1.43B)
3.49% more ownership
Funds ownership: 74.61% → 78.1% (+3.5%)
9% more repeat investments, than reductions
Existing positions increased: 503 | Existing positions reduced: 461
3% more first-time investments, than exits
New positions opened: 104 | Existing positions closed: 101
1% less funds holding
Funds holding: 1,216 → 1,207 (-9)
13% less funds holding in top 10
Funds holding in top 10: 104 → 91 (-13)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
+$1.5B |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$352M |
| 3 |
SEI Investments
Oaks,
Pennsylvania
|
+$151M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$93.2M |
| 5 |
Pathstone Holdings
Englewood,
New Jersey
|
+$57.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Charles Schwab
San Francisco,
California
|
-$304M |
| 2 |
D.E. Shaw & Co
New York
|
-$196M |
| 3 |
Wealthfront Advisers
Palo Alto,
California
|
-$97.9M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$74.6M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$32.6M |
VTEB Hedge Fund Activity: Q2 2025 in Review
1,207 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Vanguard Tax-Exempt Bond Index Fund (VTEB) for Q2 2025, worth a combined $28B — up 5.4% from $26.5B a quarter earlier.
Buyers outnumbered sellers: 104 funds opened new VTEB positions and 101 closed out — a net gain of 3 holders — while 503 added to existing stakes and 461 trimmed.
The largest buyer was JP Morgan Chase, adding an estimated $1.5B. The largest seller was Charles Schwab, cutting an estimated $304M.
- 1,207 institutional investors held Vanguard Tax-Exempt Bond Index Fund (VTEB) as of Q2 2025, down from 1,216 in Q1 2025.
- Funds reported $28B of Vanguard Tax-Exempt Bond Index Fund stock for Q2 2025, up 5.4% quarter-over-quarter.
- 104 funds opened new Vanguard Tax-Exempt Bond Index Fund positions in Q2 2025 and 101 closed out, a net change of +3 holders.
- The largest Vanguard Tax-Exempt Bond Index Fund buyer in Q2 2025 was JP Morgan Chase, an estimated $1.5B added.
- The largest Vanguard Tax-Exempt Bond Index Fund seller in Q2 2025 was Charles Schwab, an estimated $304M sold.
Based on aggregated 13F filings for Q2 2025.