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Vanguard Short-Term Tax-Exempt Bond ETF
VTES

188 hedge funds and large institutions have $580M invested in Vanguard Short-Term Tax-Exempt Bond ETF in 2025 Q2 according to their latest regulatory filings, with 47 funds opening new positions, 74 increasing their positions, 44 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

292% more first-time investments, than exits

New positions opened: 47 | Existing positions closed: 12

68% more repeat investments, than reductions

Existing positions increased: 74 | Existing positions reduced: 44

68% more capital invested

Capital invested by funds: $345M → $580M (+$234M)

33% more funds holding in top 10

Funds holding in top 10: 3 → 4 (+1)

21% more funds holding

Funds holding: 155 → 188 (+33)

9.66% more ownership

Funds ownership: 46.26% → 55.92% (+9.7%)

Holders
188
Holders Change
+33
Holders Change %
+21.29%
% of All Funds
2.48%
Holding in Top 10
4
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+33.33%
% of All Funds
0.05%
New
47
Increased
74
Reduced
44
Closed
12
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Mercer Global Advisors
Mercer Global Advisors
Colorado
+$123M
2
GG
Gleason Group
Kentucky
+$25.9M
3
KIM
Karpus Investment Management
New York
+$21.2M
4
Bank of America
Bank of America
North Carolina
+$6.04M
5
TWM
Topsail Wealth Management
North Carolina
+$5.12M

Top Sellers

Rank Fund Capital Flow
1
SLWA
San Luis Wealth Advisors
California
-$7.92M
2
FPAS
Focus Partners Advisor Solutions
Missouri
-$4.94M
3
Corient Private Wealth
Corient Private Wealth
Florida
-$1.92M
4
TC
TAGStone Capital
North Carolina
-$1.13M
5
PP
PrairieView Partners
Minnesota
-$1.13M
Name Holding Trade Value Shares
Change 		Change in
Stake
JSA
101
Jacobson & Schmitt Advisors
Wisconsin
$687K +$682K +6,807 New
MML Investors Services
102
MML Investors Services
Massachusetts
$666K -$41.1K -410 -6%
IWS
103
Integrity Wealth Solutions
Colorado
$662K +$128K +1,278 +24%
PSCM
104
Per Stirling Capital Management
Texas
$635K +$10.2K +102 +2%
MPWT
105
MassMutual Private Wealth & Trust
Connecticut
$586K +$582K +5,807 New
EC
106
Eaton-Cambridge
Arizona
$577K – – –
CBT
107
Crews Bank & Trust
Florida
$560K – – –
OA
108
Oxbow Advisors
Texas
$541K – – –
KAS
109
Kestra Advisory Services
Texas
$522K +$132K +1,321 +34%
QFPS
110
Quantum Financial Planning Services
Washington
$513K +$509K +5,079 New
LKBC
111
L.K. Benson & Company
Maryland
$508K +$2.4K +24 +0.5%
FHC
112
First Heartland Consultants
Missouri
$504K +$500K +4,995 New
EPP
113
ETF Portfolio Partners
Kansas
$504K +$500K +4,990 New
VWA
114
VSM Wealth Advisory
Maryland
$501K +$148K +1,474 +42%
SSW
115
Stone Summit Wealth
Florida
$501K +$62K +619 +14%
LAM
116
Lakewood Asset Management
Illinois
$495K +$2.81K +28 +0.6%
TWM
117
Thrive Wealth Management
Pennsylvania
$482K +$479K +4,780 New
CA
118
CoreCap Advisors
Michigan
$480K +$3.31K +33 +0.7%
MSFS
119
Main Street Financial Solutions
Pennsylvania
$464K +$14.6K +146 +3%
Northwestern Mutual Wealth Management
120
Northwestern Mutual Wealth Management
Wisconsin
$458K +$455K +4,542 New
EIA
121
Eldridge Investment Advisors
New Hampshire
$453K -$18.2K -182 -4%
Envestnet Portfolio Solutions
122
Envestnet Portfolio Solutions
Illinois
$452K +$71.7K +716 +19%
MF
123
Montis Financial
Massachusetts
$450K – – –
HWM
124
HB Wealth Management
Georgia
$424K +$421K +4,200 New
MPW
125
Magnolia Private Wealth
Pennsylvania
$421K +$418K +4,168 New
3 4
5
6 7

VTES Hedge Fund Activity: Q2 2025 in Review

188 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Vanguard Short-Term Tax-Exempt Bond ETF (VTES) for Q2 2025, worth a combined $580M — up 68% from $345M a quarter earlier.

Buyers outnumbered sellers: 47 funds opened new VTES positions and 12 closed out — a net gain of 35 holders — while 74 added to existing stakes and 44 trimmed.

The largest buyer was Mercer Global Advisors, adding an estimated $123M. The largest seller was San Luis Wealth Advisors, cutting an estimated $7.92M.

  • 188 institutional investors held Vanguard Short-Term Tax-Exempt Bond ETF (VTES) as of Q2 2025, up from 155 in Q1 2025.
  • Funds reported $580M of Vanguard Short-Term Tax-Exempt Bond ETF stock for Q2 2025, up 68% quarter-over-quarter.
  • 47 funds opened new Vanguard Short-Term Tax-Exempt Bond ETF positions in Q2 2025 and 12 closed out, a net change of +35 holders.
  • The largest Vanguard Short-Term Tax-Exempt Bond ETF buyer in Q2 2025 was Mercer Global Advisors, an estimated $123M added.
  • The largest Vanguard Short-Term Tax-Exempt Bond ETF seller in Q2 2025 was San Luis Wealth Advisors, an estimated $7.92M sold.

Based on aggregated 13F filings for Q2 2025.