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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
WANY
51
Wealthspire Advisors (New York)
New York
$337K +$335K +3,448 New
NA
52
NewEdge Advisors
Louisiana
$328K – – –
TWM
53
Tolleson Wealth Management
Texas
$322K – – –
NF
54
NavPoint Financial
Minnesota
$313K +$311K +3,207 New
FFG
55
Fiduciary Financial Group
California
$303K – – –
CC
56
Climber Capital
Switzerland
$302K – – –
HWMG
57
Hurlow Wealth Management Group
Indiana
$294K +$292K +3,011 New
MWG
58
Martin Worley Group
Utah
$286K +$285K +2,935 New
QCM
59
Quantinno Capital Management
New York
$278K – – –
JIC
60
Joel Isaacson & Co
New York
$261K +$260K +2,675 New
CWP
61
Core Wealth Partners
California
$258K – – –
BPA
62
Beacon Pointe Advisors
California
$248K +$247K +2,543 New
AL
63
Aspiriant LLC
California
$247K +$2.91K +30 +1%
BCM
64
Blume Capital Management
California
$244K – – –
CPW
65
Catalyst Private Wealth
California
$241K +$239K +2,465 New
Northwestern Mutual Wealth Management
66
Northwestern Mutual Wealth Management
Wisconsin
$234K +$233K +2,399 New
TPWA
67
Twin Peaks Wealth Advisors
California
$233K +$232K +2,389 New
WCG
68
Weaver Consulting Group
California
$219K +$218K +2,248 New
PCMC
69
Paragon Capital Management (Colorado)
Colorado
$201K +$200K +2,064 New
Morgan Stanley
70
Morgan Stanley
New York
$190K +$188K +1,942 New
Royal Bank of Canada
71
Royal Bank of Canada
Ontario, Canada
$178K -$2.7M -27,777 -94%
FPF
72
First Pacific Financial
Washington
$151K +$150K +1,547 New
LFG
73
Larson Financial Group
Missouri
$97.6K – – –
AFG
74
Albion Financial Group
Utah
$61K +$19.4K +200 +47%
WOSD
75
WFA of San Diego
California
$57.6K +$57.3K +590 New
1 2
3
4

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.