Vanguard Short-Term Tax-Exempt Bond ETF
VTES
240 hedge funds and large institutions have $766M invested in Vanguard Short-Term Tax-Exempt Bond ETF in 2025 Q4 according to their latest regulatory filings, with 51 funds opening new positions, 119 increasing their positions, 36 reducing their positions, and 12 closing their positions.
325% more first-time investments, than exits
New positions opened: 51 | Existing positions closed: 12
231% more repeat investments, than reductions
Existing positions increased: 119 | Existing positions reduced: 36
25% more funds holding in top 10
Funds holding in top 10: 4 → 5 (+1)
17% more funds holding
Funds holding: 206 → 240 (+34)
13% more capital invested
Capital invested by funds: $680M → $766M (+$85.7M)
0.95% less ownership
Funds ownership: 51.08% → 50.13% (-0.95%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BFC
Bedel Financial Consulting
Indianapolis,
Indiana
|
+$14.4M |
| 2 |
Raymond James Financial
St Petersburg,
Florida
|
+$13.4M |
| 3 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
+$5.73M |
| 4 |
Goldman Sachs
New York
|
+$5.43M |
| 5 |
AC
Apella Capital
West Hartford,
Connecticut
|
+$5.12M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Mercer Global Advisors
Denver,
Colorado
|
-$6.22M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$3.8M |
| 3 |
FPAS
Focus Partners Advisor Solutions
Saint Louis,
Missouri
|
-$3.79M |
| 4 |
CFD
Creative Financial Designs
Kokomo,
Indiana
|
-$3.18M |
| 5 |
GG
Gleason Group
Prospect,
Kentucky
|
-$2.13M |
VTES Hedge Fund Activity: Q4 2025 in Review
240 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Vanguard Short-Term Tax-Exempt Bond ETF (VTES) for Q4 2025, worth a combined $766M — up 13% from $680M a quarter earlier.
Buyers outnumbered sellers: 51 funds opened new VTES positions and 12 closed out — a net gain of 39 holders — while 119 added to existing stakes and 36 trimmed.
The largest buyer was Bedel Financial Consulting, adding an estimated $14.4M. The largest seller was Mercer Global Advisors, cutting an estimated $6.22M.
- 240 institutional investors held Vanguard Short-Term Tax-Exempt Bond ETF (VTES) as of Q4 2025, up from 206 in Q3 2025.
- Funds reported $766M of Vanguard Short-Term Tax-Exempt Bond ETF stock for Q4 2025, up 13% quarter-over-quarter.
- 51 funds opened new Vanguard Short-Term Tax-Exempt Bond ETF positions in Q4 2025 and 12 closed out, a net change of +39 holders.
- The largest Vanguard Short-Term Tax-Exempt Bond ETF buyer in Q4 2025 was Bedel Financial Consulting, an estimated $14.4M added.
- The largest Vanguard Short-Term Tax-Exempt Bond ETF seller in Q4 2025 was Mercer Global Advisors, an estimated $6.22M sold.
Based on aggregated 13F filings for Q4 2025.