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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
SL
76
Summitry LLC
California
$352K +$345K +3,527 New
Royal Bank of Canada
77
Royal Bank of Canada
Ontario, Canada
$339K +$155K +1,583 +87%
TWM
78
Tolleson Wealth Management
Texas
$329K – – –
NF
79
NavPoint Financial
Minnesota
$323K +$2.54K +26 +0.8%
HWMG
80
Hurlow Wealth Management Group
Indiana
$300K – – –
BCM
81
Blume Capital Management
California
$299K +$48.9K +500 +20%
HF
82
HRT Financial
New York
$294K +$289K +2,955 New
SFA
83
Sequoia Financial Advisors
Ohio
$293K +$287K +2,935 New
IIA
84
Integral Investment Advisors
California
$289K +$284K +2,900 New
TPWA
85
Twin Peaks Wealth Advisors
California
$285K +$45.7K +467 +20%
KFS
86
Kaizen Financial Strategies
California
$281K +$274K +2,800 New
PA
87
Pinnacle Associates
New York
$279K +$274K +2,800 New
PWMAG
88
Pinnacle Wealth Management Advisory Group
New Jersey
$279K +$274K +2,800 New
PAG
89
Private Advisor Group
New Jersey
$278K +$272K +2,785 New
CWP
90
Core Wealth Partners
California
$263K – – –
CPW
91
Catalyst Private Wealth
California
$254K +$8.02K +82 +3%
AL
92
Aspiriant LLC
California
$252K – – –
MGIA
93
Moneta Group Investment Advisors
Missouri
$246K +$241K +2,463 New
FFS
94
Founders Financial Securities
Maryland
$241K +$236K +2,417 New
SAI
95
Savvy Advisors Inc
New York
$233K +$228K +2,332 New
HAS
96
HBW Advisory Services
California
$229K +$224K +2,293 New
WCG
97
Weaver Consulting Group
California
$225K +$685 +7 +0.3%
BTI
98
Blue Trust Inc
Georgia
$221K +$217K +2,214 New
Envestnet Asset Management
99
Envestnet Asset Management
Illinois
$221K +$216K +2,211 New
SAG
100
SageView Advisory Group
California
$209K +$205K +2,095 New
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.