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Vanguard Tax-Exempt Bond Index Fund
VTEB

197 hedge funds and large institutions have $2.27B invested in Vanguard Tax-Exempt Bond Index Fund in 2018 Q2 according to their latest regulatory filings, with 36 funds opening new positions, 85 increasing their positions, 49 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

140% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 15

73% more repeat investments, than reductions

Existing positions increased: 85 | Existing positions reduced: 49

32% more capital invested

Capital invested by funds: $1.72B → $2.27B (+$543M)

12% more funds holding

Funds holding: 176 → 197 (+21)

5.56% more ownership

Funds ownership: 65.01% → 70.57% (+5.6%)

20% less funds holding in top 10

Funds holding in top 10: 10 → 8 (-2)

Holders
197
Holders Change
+21
Holders Change %
+11.93%
% of All Funds
4.51%
Holding in Top 10
8
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-20%
% of All Funds
0.18%
New
36
Increased
85
Reduced
49
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CSIA
Charles Schwab Investment Advisory
California
+$374M
2
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$52.1M
3
W
Wealthfront
California
+$50.1M
4
CWM
Cornerstone Wealth Management
Missouri
+$48.6M
5
RJA
Raymond James & Associates
Florida
+$27.2M

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$18.4M
2
Jane Street
Jane Street
New York
-$9.64M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$6.95M
4
Bank of New York Mellon
Bank of New York Mellon
New York
-$3.77M
5
ST
Smithfield Trust
Pennsylvania
-$2.93M
Name Holding Trade Value Shares
Change 		Change in
Stake
NFG
201
Next Financial Group
Texas
– -$900K -17,706 Closed
AIP
202
Almanack Investment Partners
Pennsylvania
– -$513K -10,096 Closed
MA
203
Mangham Associates
Virginia
– -$255K -5,019 Closed
EFS
204
Essex Financial Services
Connecticut
– -$245K -4,815 Closed
PC
205
Palo Capital
California
– -$243K -4,789 Closed
CAN
206
Cetera Advisor Networks
California
– -$241K -4,786 Closed
SWP
207
Stratos Wealth Partners
Ohio
– -$197K -3,880 Closed
KF
208
Krilogy Financial
Missouri
– -$168K -3,313 Closed
ACA
209
Atlas Capital Advisors
Wyoming
– -$166K -3,267 Closed
IWM
210
IHT Wealth Management
Illinois
– -$108K -2,122 Closed
FCMT
211
Founders Capital Management (Texas)
Texas
– -$26K -503 Closed
WAM
212
Wealthspire Advisors (Maryland)
Maryland
– +$406 +8 New
5 6 7 8
9

VTEB Hedge Fund Activity: Q2 2018 in Review

197 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in Vanguard Tax-Exempt Bond Index Fund (VTEB) for Q2 2018, worth a combined $2.27B — up 32% from $1.72B a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new VTEB positions and 15 closed out — a net gain of 21 holders — while 85 added to existing stakes and 49 trimmed.

The largest buyer was Charles Schwab Investment Advisory, adding an estimated $374M. The largest seller was Bank of America, cutting an estimated $18.4M.

  • 197 institutional investors held Vanguard Tax-Exempt Bond Index Fund (VTEB) as of Q2 2018, up from 176 in Q1 2018.
  • Funds reported $2.27B of Vanguard Tax-Exempt Bond Index Fund stock for Q2 2018, up 32% quarter-over-quarter.
  • 36 funds opened new Vanguard Tax-Exempt Bond Index Fund positions in Q2 2018 and 15 closed out, a net change of +21 holders.
  • The largest Vanguard Tax-Exempt Bond Index Fund buyer in Q2 2018 was Charles Schwab Investment Advisory, an estimated $374M added.
  • The largest Vanguard Tax-Exempt Bond Index Fund seller in Q2 2018 was Bank of America, an estimated $18.4M sold.

Based on aggregated 13F filings for Q2 2018.