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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
PWM
126
Paulson Wealth Management
Illinois
$192K +$192K +3,715 New
AP
127
Arlington Partners
Alabama
$186K +$186K +3,592 New
SPIA
128
Steward Partners Investment Advisory
New York
$156K +$671 +13 +0.4%
KF
129
Krilogy Financial
Missouri
$152K +$151K +2,933 New
PFGIA
130
Patriot Financial Group Insurance Agency
Massachusetts
$133K +$671 +13 +0.5%
CMBA
131
C.M. Bidwell & Associates
Hawaii
$122K +$122K +2,370 New
IA
132
IFP Advisors
Florida
$118K -$2.63K -51 -2%
IWM
133
IHT Wealth Management
Illinois
$109K +$110K +2,121 New
PA
134
Parallel Advisors
California
$101K – – –
CFD
135
Creative Financial Designs
Indiana
$100K – – –
CCM
136
Cribstone Capital Management
Maine
$98K – – –
Manulife (Manufacturers Life Insurance)
137
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$88K +$620 +12 +0.7%
Lazard Asset Management
138
Lazard Asset Management
New York
$87K – – –
CHP
139
Cable Hill Partners
Oregon
$72K -$24.3K -471 -25%
VFA
140
Valeo Financial Advisors
Indiana
$72K – – –
BWA
141
Burt Wealth Advisors
Maryland
$71K – – –
HDIM
142
Hanson & Doremus Investment Management
Vermont
$60K +$18.4K +356 +45%
Citigroup
143
Citigroup
New York
$55K +$103 +2 +0.2%
LWM
144
Lenox Wealth Management
Ohio
$47K – – –
GAM
145
Gemmer Asset Management
California
$40K +$207 +4 +0.5%
US Bancorp
146
US Bancorp
Minnesota
$26K – – –
FCMT
147
Founders Capital Management (Texas)
Texas
$26K +$25.9K +501 New
LA
148
Legacy Advisors
Pennsylvania
$22K +$22.5K +435 New
SFSIG
149
San Francisco Sentry Investment Group
California
$21K +$20.7K +400 New
APA
150
American Portfolios Advisors
New York
$20.6K +$20.6K +398 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.