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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MMA
Miracle Mile Advisors
Los Angeles,
California
|
+$54.1M |
| 2 |
Charles Schwab
San Francisco,
California
|
+$34.6M |
| 3 |
Jane Street
New York
|
+$11.3M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
+$6.09M |
| 5 |
WPC
Wedmont Private Capital
West Chester,
Pennsylvania
|
+$5.35M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$5.95M |
| 2 |
FPAS
Focus Partners Advisor Solutions
Saint Louis,
Missouri
|
-$3.81M |
| 3 |
JP Morgan Chase
New York
|
-$1.74M |
| 4 |
BC
Brio Consultants
San Francisco,
California
|
-$777K |
| 5 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$456K |
VTEC Hedge Fund Activity: Q3 2025 in Review
122 of the 7,640 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.