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Vanguard California Tax-Exempt Bond ETF
VTEC

122 hedge funds and large institutions have $698M invested in Vanguard California Tax-Exempt Bond ETF in 2025 Q3 according to their latest regulatory filings, with 48 funds opening new positions, 44 increasing their positions, 14 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,500% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 3

214% more repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 14

53% more funds holding

Funds holding: 80 → 122 (+42)

30% more capital invested

Capital invested by funds: $539M → $698M (+$159M)

1.49% less ownership

Funds ownership: 55.65% → 54.16% (-1.5%)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
122
Holders Change
+42
Holders Change %
+52.5%
% of All Funds
1.6%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
48
Increased
44
Reduced
14
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
MMA
Miracle Mile Advisors
California
+$54.1M
2
Charles Schwab
Charles Schwab
California
+$34.6M
3
Jane Street
Jane Street
New York
+$11.3M
4
Bank of America
Bank of America
North Carolina
+$6.09M
5
WPC
Wedmont Private Capital
Pennsylvania
+$5.35M

Top Sellers

1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$5.95M
2
FPAS
Focus Partners Advisor Solutions
Missouri
-$3.81M
3
JP Morgan Chase
JP Morgan Chase
New York
-$1.74M
4
BC
Brio Consultants
California
-$777K
5
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$456K
Name Holding Trade Value Shares
Change 		Change in
Stake
Susquehanna International Group
51
Susquehanna International Group
Pennsylvania
$747K -$5.95M -60,819 -89%
Northwestern Mutual Wealth Management
52
Northwestern Mutual Wealth Management
Wisconsin
$703K +$455K +4,649 +194%
Vanguard Group
53
Vanguard Group
Pennsylvania
$701K +$687K +7,023 New
OC
54
Oppenheimer & Co
New York
$678K – – –
ASG
55
Ariston Services Group
California
$672K +$127K +1,293 +24%
SM
56
Sweeney & Michel
California
$608K +$89.6K +916 +18%
RPGK
57
Retirement Planning Group (Kansas)
Kansas
$605K -$54.9K -561 -8%
KWS
58
Keystone Wealth Services
California
$562K +$13.2K +135 +2%
JIC
59
Joel Isaacson & Co
New York
$532K +$260K +2,653 +99%
ACP
60
Argyle Capital Partners
California
$499K +$489K +5,000 New
JWCA
61
J.W. Cole Advisors
Florida
$499K +$489K +5,000 New
EFP
62
Elser Financial Planning
Indiana
$476K +$468K +4,783 New
QCM
63
Quantinno Capital Management
New York
$459K +$171K +1,752 +61%
IC
64
IEQ Capital
California
$458K +$450K +4,594 New
IWC
65
Integrated Wealth Concepts
Massachusetts
$457K +$448K +4,581 New
AC
66
Apella Capital
Connecticut
$438K +$428K +4,374 New
Mercer Global Advisors
67
Mercer Global Advisors
Colorado
$410K +$403K +4,114 New
TA
68
TPG Advisors
Illinois
$400K – – –
FFG
69
Fiduciary Financial Group
California
$398K +$86.7K +886 +29%
NA
70
Nautilus Advisors
California
$397K -$35.7K -365 -8%
AF
71
Allworth Financial
California
$389K – – –
OMC
72
Old Mission Capital
Illinois
$371K +$364K +3,718 New
WANY
73
Wealthspire Advisors (New York)
New York
$370K +$25.5K +261 +8%
Financial Engines Advisors
74
Financial Engines Advisors
California
$367K +$359K +3,674 New
BPA
75
Beacon Pointe Advisors
California
$355K +$99.2K +1,014 +40%
1 2
3
4 5

VTEC Hedge Fund Activity: Q3 2025 in Review

122 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Vanguard California Tax-Exempt Bond ETF (VTEC) for Q3 2025, worth a combined $698M — up 30% from $539M a quarter earlier.

Buyers outnumbered sellers: 48 funds opened new VTEC positions and 3 closed out — a net gain of 45 holders — while 44 added to existing stakes and 14 trimmed.

The largest buyer was Miracle Mile Advisors, opening a new position worth an estimated $54.1M. The largest seller was Susquehanna International Group, cutting an estimated $5.95M.

  • 122 institutional investors held Vanguard California Tax-Exempt Bond ETF (VTEC) as of Q3 2025, up from 80 in Q2 2025.
  • Funds reported $698M of Vanguard California Tax-Exempt Bond ETF stock for Q3 2025, up 30% quarter-over-quarter.
  • 48 funds opened new Vanguard California Tax-Exempt Bond ETF positions in Q3 2025 and 3 closed out, a net change of +45 holders.
  • The largest Vanguard California Tax-Exempt Bond ETF buyer in Q3 2025 was Miracle Mile Advisors, an estimated $54.1M added.
  • The largest Vanguard California Tax-Exempt Bond ETF seller in Q3 2025 was Susquehanna International Group, an estimated $5.95M sold.

Based on aggregated 13F filings for Q3 2025.