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Vanguard California Tax-Exempt Bond ETF
VTEC

80 hedge funds and large institutions have $539M invested in Vanguard California Tax-Exempt Bond ETF in 2025 Q2 according to their latest regulatory filings, with 27 funds opening new positions, 31 increasing their positions, 8 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

288% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 8

170% more first-time investments, than exits

New positions opened: 27 | Existing positions closed: 10

72% more capital invested

Capital invested by funds: $313M → $539M (+$226M)

27% more funds holding

Funds holding: 63 → 80 (+17)

2.63% more ownership

Funds ownership: 53.02% → 55.65% (+2.6%)

Holders
80
Holders Change
+17
Holders Change %
+26.98%
% of All Funds
1.05%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
27
Increased
31
Reduced
8
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Charles Schwab
Charles Schwab
California
+$157M
2
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$21.7M
3
Bank of America
Bank of America
North Carolina
+$13.8M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$6.63M
5
LPL Financial
LPL Financial
California
+$5.41M

Top Sellers

Rank Fund Capital Flow
1
PA
PFG Advisors
Arizona
-$3.9M
2
Jane Street
Jane Street
New York
-$3.83M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$2.7M
4
EC
Elequin Capital
New York
-$2.17M
5
OMC
Old Mission Capital
Illinois
-$1.39M
Name Holding Trade Value Shares
Change 		Change in
Stake
Jones Financial Companies
26
Jones Financial Companies
Missouri
$1.77M +$777K +8,010 +79%
GC
27
Guggenheim Capital
Illinois
$1.67M +$1.66M +17,154 New
CIA
28
Concurrent Investment Advisors
Florida
$1.45M +$72.9K +751 +5%
WS
29
Wedbush Securities
California
$1.35M +$27.6K +284 +2%
BEW
30
Burton Enright Welch
California
$1.33M +$562K +5,792 +74%
RFP
31
Root Financial Partners
California
$1.21M +$382K +3,936 +46%
LWM
32
Luminvest Wealth Management
Arizona
$1.16M +$1.16M +11,904 New
AQR Capital Management
33
AQR Capital Management
Connecticut
$906K +$490K +5,045 +119%
FTUS
34
Flow Traders U.S.
New York
$861K +$856K +8,825 New
Jane Street
35
Jane Street
New York
$837K -$3.83M -39,516 -82%
SHGA
36
Sand Hill Global Advisors
California
$825K +$820K +8,451 New
NBWM
37
North Berkeley Wealth Management
California
$812K – – –
Cerity Partners
38
Cerity Partners
New York
$702K +$698K +7,195 New
Osaic Holdings
39
Osaic Holdings
Arizona
$686K +$472K +4,866 +225%
OC
40
Oppenheimer & Co
New York
$663K +$659K +6,792 New
RPGK
41
Retirement Planning Group (Kansas)
Kansas
$647K -$272K -2,800 -30%
UCFA
42
United Capital Financial Advisors
Texas
$549K +$546K +5,624 New
KWS
43
Keystone Wealth Services
California
$537K -$14.3K -147 -3%
ASG
44
Ariston Services Group
California
$531K +$2.23K +23 +0.4%
MWM
45
Meridian Wealth Management
Kentucky
$525K +$45.6K +470 +10%
SM
46
Sweeney & Michel
California
$502K +$184K +1,892 +58%
Wealth Enhancement Advisory Services
47
Wealth Enhancement Advisory Services
Minnesota
$492K – – –
NA
48
Nautilus Advisors
California
$424K +$9.8K +101 +2%
TA
49
TPG Advisors
Illinois
$391K – – –
AF
50
Allworth Financial
California
$381K +$379K +3,902 +390,200%
1
2
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VTEC Hedge Fund Activity: Q2 2025 in Review

80 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Vanguard California Tax-Exempt Bond ETF (VTEC) for Q2 2025, worth a combined $539M — up 72% from $313M a quarter earlier.

Buyers outnumbered sellers: 27 funds opened new VTEC positions and 10 closed out — a net gain of 17 holders — while 31 added to existing stakes and 8 trimmed.

The largest buyer was Charles Schwab, adding an estimated $157M. The largest seller was PFG Advisors, exiting entirely with an estimated $3.9M sold.

  • 80 institutional investors held Vanguard California Tax-Exempt Bond ETF (VTEC) as of Q2 2025, up from 63 in Q1 2025.
  • Funds reported $539M of Vanguard California Tax-Exempt Bond ETF stock for Q2 2025, up 72% quarter-over-quarter.
  • 27 funds opened new Vanguard California Tax-Exempt Bond ETF positions in Q2 2025 and 10 closed out, a net change of +17 holders.
  • The largest Vanguard California Tax-Exempt Bond ETF buyer in Q2 2025 was Charles Schwab, an estimated $157M added.
  • The largest Vanguard California Tax-Exempt Bond ETF seller in Q2 2025 was PFG Advisors, an estimated $3.9M sold.

Based on aggregated 13F filings for Q2 2025.