DaveManuel.com · Institutional Ownership · Who Owns It
VANGUARD MUN BD FDS (VTEB)
Institutional ownership reported to the SEC as of Q2 2026, across 32 quarters.
1,414
Reporting holders
$30.9B
Reported value
0.0%
Calls
0.0%
Puts
+51
Holder change
Calls and puts are the parts of reported value carried in derivative lines rather than shares, and they point in opposite directions: a manager holding calls is positioned for the security, one holding puts against it - or hedging shares they already own, which is why index funds carry so many. Most sites add the two together and report one figure, which averages away the only interesting part.
Holders
| Filer | Value | Shares | Their book | Held | Change |
|---|---|---|---|---|---|
| JPMORGAN CHASE & CO | $2.8B | 54,850,518 | 0.15% | 31q | +22.7%+$513.0M |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $1.9B | 38,222,195 | 1.03% | 31q | -0.9%-$17.7M |
| MORGAN STANLEY | $1.4B | 27,969,204 | 0.07% | 35q | HELD |
| Creative Planning | $1.4B | 27,320,238 | 0.81% | 31q | -0.8%-$10.7M |
| RAYMOND JAMES FINANCIAL INC | $1.4B | 26,966,940 | 0.37% | 7q | +10.4%+$128.1M |
| Wealthfront Advisers LLC | $1.3B | 26,083,419 | 2.54% | 31q | +4.7%+$59.2M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1.2B | 23,006,893 | 0.15% | 9q | -7.3%-$91.9M |
| FMR LLC | $1.1B | 21,371,891 | 0.05% | 31q | +5.2%+$53.2M |
| SEI INVESTMENTS CO | $801.3M | 15,843,041 | 0.71% | 31q | +11.8%+$84.9M |
| WELLS FARGO & COMPANY/MN | $750.5M | 14,838,724 | 0.12% | 31q | +3.2%+$23.5M |
| NORTHERN TRUST CORP | $749.2M | 14,811,340 | 0.09% | 27q | +1.4%+$10.7M |
| BANK OF AMERICA CORP /DE/ | $706.3M | 13,964,302 | 0.05% | 31q | +10.4%+$66.5M |
| TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC | $667.2M | 13,190,508 | 2.30% | 2q | +3.8%+$24.5M |
| MERCER GLOBAL ADVISORS INC /ADV | $580.7M | 11,479,867 | 0.72% | 30q | +6.0%+$32.8M |
| JONES FINANCIAL COMPANIES LLLP | $539.8M | 10,675,389 | 0.22% | 31q | +20.2%+$90.8M |
| LPL Financial LLC | $528.3M | 10,444,670 | 0.12% | 31q | +8.4%+$40.8M |
| FRANKLIN RESOURCES INC | $362.9M | 7,174,048 | 0.08% | 15q | -0.7%-$2.5M |
| Betterment LLC | $357.2M | 7,061,952 | 0.60% | 31q | +1.9%+$6.7M |
| CLIFTONLARSONALLEN WEALTH ADVISORS, LLC | $323.4M | 6,394,230 | 4.25% | 15q | +1.2%+$3.9M |
| ENVESTNET ASSET MANAGEMENT INC | $296.0M | 5,852,832 | 0.07% | 31q | +8.3%+$22.8M |
| Mariner, LLC | $241.8M | 4,779,573 | 0.25% | 23q | +12.0%+$25.9M |
| Corient Private Wealth LP | $229.5M | 4,537,521 | 0.32% | 15q | +1.2%+$2.8M |
| UBS Group AG | $228.7M | 4,522,126 | 0.03% | 31q | +4.1%+$8.9M |
| RWA WEALTH PARTNERS, LLC | $226.4M | 4,476,441 | 2.17% | 31q | +5.3%+$11.4M |
| Cerity Partners LLC | $223.3M | 4,415,366 | 0.27% | 23q | HELD |
| VANGUARD ADVISERS INC | $220.7M | 4,362,459 | 0.75% | 2q | +13.2%+$25.8M |
| ASPIRIANT, LLC | $216.1M | 4,272,813 | 5.34% | 26q | +0.9%+$2.0M |
| ROYAL BANK OF CANADA | $190.0M | 3,756,633 | 0.03% | 31q | +13.5%+$22.5M |
| US BANCORP \DE\ | $181.7M | 3,591,532 | 0.20% | 31q | +2.8%+$5.0M |
| Orgel Wealth Management, LLC | $180.6M | 3,570,951 | 3.43% | 17q | +3.1%+$5.4M |
| AMERIPRISE FINANCIAL INC | $173.5M | 3,427,973 | 0.04% | 31q | +7.2%+$11.6M |
| Savant Capital, LLC | $165.3M | 3,290,574 | 0.49% | 26q | +103.7%+$84.1M |
| JANE STREET GROUP, LLC | $139.3M | 2,754,583 | 0.01% | 5q | +7548.0%+$137.5M |
| HighTower Advisors, LLC | $137.0M | 2,708,884 | 0.13% | 22q | +3.3%+$4.4M |
| Facet Wealth, Inc. | $131.0M | 2,590,804 | 1.88% | 17q | -1.8%-$2.4M |
| Pathstone Holdings, LLC | $125.2M | 2,474,937 | 0.36% | 11q | +4.5%+$5.4M |
| Members Trust Co | $124.2M | 2,454,801 | 3.87% | 12q | HELD |
| PNC Financial Services Group, Inc. | $121.6M | 2,403,494 | 0.06% | 31q | -2.4%-$3.0M |
| OneDigital Investment Advisors LLC | $115.8M | 2,289,562 | 0.98% | 20q | +6.3%+$6.9M |
| OSAIC HOLDINGS, INC. | $113.3M | 2,240,261 | 0.13% | 26q | +39.3%+$32.0M |
| Wedmont Private Capital | $109.1M | 2,167,958 | 2.99% | 19q | +36.5%+$29.2M |
| Bank of New York Mellon Corp | $106.5M | 2,105,092 | 0.02% | 31q | +16.6%+$15.2M |
| Sequoia Financial Advisors, LLC | $104.9M | 2,073,127 | 0.52% | 23q | +12.3%+$11.5M |
| Prime Capital Investment Advisors, LLC | $98.7M | 1,951,599 | 0.96% | 27q | +2.9%+$2.8M |
| GeoWealth Management, LLC | $95.7M | 1,891,755 | 3.01% | 11q | +22.3%+$17.4M |
| SCS Capital Management LLC | $92.5M | 1,829,597 | 0.87% | 26q | -5.2%-$5.1M |
| EP Wealth Advisors, LLC | $92.4M | 1,826,588 | 0.35% | 27q | +40.5%+$26.6M |
| RENAISSANCE TECHNOLOGIES LLC | $89.8M | 1,776,200 | 0.12% | 15q | +301.5%+$67.5M |
| Baird Financial Group, Inc. | $87.6M | 1,732,100 | 0.12% | 31q | +1.4%+$1.2M |
| Lutz Financial Services LLC | $84.2M | 1,663,916 | 5.13% | 17q | +6.0%+$4.8M |
| STIFEL FINANCIAL CORP | $83.6M | 1,653,614 | 0.07% | 31q | +6.3%+$5.0M |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $82.3M | 1,664,709 | 0.14% | 22q | +28.9%+$18.4M |
| MBB PUBLIC MARKETS I LLC | $81.7M | 1,614,405 | 8.82% | 3q | +124.7%+$45.3M |
| Composition Wealth, LLC | $80.7M | 1,594,643 | 0.95% | 26q | +16.8%+$11.6M |
| Integrated Wealth Concepts LLC | $79.8M | 1,577,972 | 0.52% | 24q | +23.9%+$15.4M |
| TIAA Wealth Investment Management LLC | $78.9M | 1,560,240 | 0.53% | 2q | +22.2%+$14.3M |
| Sanctuary Advisors, LLC | $71.5M | 1,414,356 | 0.33% | 9q | +3.9%+$2.7M |
| Bleakley Financial Group, LLC | $69.4M | 1,372,365 | 0.88% | 15q | +4.4%+$2.9M |
| Alvarez & Marsal Private Wealth Partners, LLC | $69.4M | 1,371,433 | 9.14% | 2q | -4.0%-$2.9M |
| Forum Financial Management, LP | $66.1M | 1,306,794 | 0.85% | 12q | -1.0%-$660.7K |
| Cetera Investment Advisers | $64.4M | 1,273,913 | 0.06% | 23q | +10.6%+$6.2M |
| Logan Stone Capital, LLC | $64.1M | 1,267,176 | 13.55% | 2q | +259.6%+$46.3M |
| BAKER BOYER NATIONAL BANK | $60.4M | 1,194,965 | 16.60% | 20q | +1.9%+$1.2M |
| GenTrust, LLC | $58.3M | 1,153,407 | 2.24% | 20q | +10.3%+$5.5M |
| Kestra Investment Management, LLC | $57.9M | 1,144,888 | 1.12% | 9q | +4.2%+$2.3M |
| West Financial Advisors, LLC | $56.2M | 1,110,601 | 8.53% | 15q | +1.4%+$796.9K |
| Focus Partners Wealth | $55.4M | 1,095,147 | 0.06% | 11q | HELD |
| Beacon Pointe Advisors, LLC | $53.5M | 1,057,630 | 0.25% | 20q | +6.9%+$3.4M |
| MATHER GROUP, LLC. | $52.7M | 1,042,071 | 0.46% | 31q | +5.0%+$2.5M |
| MML INVESTORS SERVICES, LLC | $51.0M | 1,007,730 | 0.10% | 31q | +22.3%+$9.3M |
| NewEdge Advisors, LLC | $48.9M | 966,651 | 0.15% | 23q | +7.9%+$3.6M |
| THOMPSON SIEGEL & WALMSLEY LLC | $48.7M | 962,019 | 0.87% | 16q | -1.2%-$568.8K |
| Ackerman Capital Advisors, LLC | $48.1M | 950,473 | 9.68% | 27q | -0.7%-$330.7K |
| Topsail Wealth Management, LLC | $47.6M | 942,001 | 6.08% | 7q | -14.4%-$8.0M |
| Texas Capital Bank Wealth Management Services Inc | $47.1M | 931,751 | 2.52% | 27q | +2.0%+$936.3K |
| M&T Bank Corp | $46.9M | 926,398 | 0.14% | 31q | +16.2%+$6.5M |
| Garde Capital, Inc. | $45.8M | 905,827 | 2.05% | new | NEW |
| Fort Point Capital Partners LLC | $44.5M | 878,929 | 3.08% | 31q | +17.0%+$6.5M |
| Beaird Harris Wealth Management, LLC | $44.3M | 875,617 | 2.77% | 19q | -2.1%-$939.9K |
| Foster Group, Inc. | $44.2M | 873,883 | 1.17% | 17q | -1.3%-$597.0K |
| Heritage Investment Group, Inc. | $43.9M | 867,367 | 5.89% | 17q | HELD |
| Allworth Financial LP | $43.9M | 867,210 | 0.19% | 31q | HELD |
| Financial Engines Advisors L.L.C. | $43.5M | 859,684 | 0.08% | 17q | +2.0%+$865.5K |
| New York Life Investment Management LLC | $43.4M | 858,958 | 0.30% | 11q | +68.8%+$17.7M |
| Global Strategic Investment Solutions, LLC | $43.2M | 854,509 | 3.83% | 12q | +10.8%+$4.2M |
| Sunflower Bank, N.A. | $42.5M | 840,472 | 10.16% | 25q | -6.2%-$2.8M |
| OLD NATIONAL BANCORP /IN/ | $42.4M | 837,585 | 0.84% | 12q | +14.1%+$5.2M |
| One Capital Management, LLC | $42.2M | 845,847 | 1.17% | 15q | HELD |
| TRUIST FINANCIAL CORP | $42.0M | 831,195 | 0.05% | 27q | -4.0%-$1.8M |
| JFS WEALTH ADVISORS, LLC | $41.7M | 823,707 | 2.08% | 21q | +1.5%+$632.4K |
| Avidian Wealth Enterprises, LLC | $40.5M | 800,354 | 1.12% | 31q | +13.4%+$4.8M |
| NICOLET BANKSHARES INC | $39.9M | 789,092 | 1.27% | 2q | -1.6%-$634.6K |
| GOLDMAN SACHS GROUP INC | $39.2M | 775,081 | 0.00% | 26q | +22.5%+$7.2M |
| Lexington Hill Partners, LLC | $39.0M | 770,612 | 18.90% | 3q | +6.9%+$2.5M |
| EVERGREEN CAPITAL MANAGEMENT LLC | $37.7M | 745,522 | 0.66% | 5q | HELD |
| BSW Wealth Partners | $37.3M | 737,502 | 4.15% | 17q | +17.1%+$5.5M |
| Willow Creek Wealth Management Inc. | $37.1M | 734,141 | 2.44% | 21q | +8.0%+$2.7M |
| COMMONWEALTH EQUITY SERVICES, LLC | $37.1M | 732,688 | 0.05% | 31q | -5.8%-$2.3M |
| Cambridge Investment Research Advisors, Inc. | $36.8M | 728,130 | 0.04% | 31q | +122.4%+$20.3M |
| BIP Wealth, LLC | $35.6M | 704,661 | 1.01% | new | NEW |
Showing the largest 100 of 1,414 reported holders.
Q2 2026 in brief
In Q2 2026, 1,414 managers that file Form 13F reported holding Vanguard Mun Bd Fds (VTEB), $30.9B in all. 132 managers opened a position and 81 sold out completely, against 1,363 holders the quarter before. Largest holders: Jpmorgan Chase & Co, Northwestern Mutual Wealth Management Co and Morgan Stanley. Largest new positions: Garde Capital, Inc. ($45.8M), Bip Wealth, Llc ($35.6M) and Rivernorth Capital Management, Llc ($27.4M).
Q2 2026 is the latest quarter whose 13F deadline has passed. A 13F shows long US stock positions at quarter end, filed up to 45 days later; an adviser and a sub-adviser can both report the same shares.
Quarter by quarter
Coverage begins with the quarter ending 2018-12-31. Earlier filings exist only as occasional late amendments, too sparse to describe a market, so they are not shown.
| Quarter | Holders | Value | Shares | New | Added | Trimmed | Options |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 640 | $3.4B | 72,790,507 | 52 | 281 | 181 | 0.0% |
| Q2 2026 | 1,414 | $30.9B | 610,229,679 | 111 | 656 | 356 | 0.0% |
| Q1 2026 | 1,363 | $28.2B | 565,217,402 | 97 | 606 | 359 | 0.1% |
| Q4 2025 | 1,328 | $30.4B | 603,426,997 | 85 | 580 | 339 | 0.2% |
| Q3 2025 | 1,243 | $34.1B | 681,084,628 | 92 | 510 | 426 | 0.0% |
| Q2 2025 | 1,221 | $28.2B | 574,699,521 | 93 | 475 | 451 | 0.0% |
| Q1 2025 | 1,228 | $26.7B | 536,997,373 | 91 | 466 | 416 | 0.1% |
| Q4 2024 | 1,233 | $149.1B | 2,974,944,656 | 84 | 519 | 328 | 0.0% |
| Q3 2024 | 1,111 | $154.2B | 3,015,871,395 | 79 | 497 | 291 | 0.0% |
| Q2 2024 | 1,092 | $154.1B | 3,075,601,613 | 81 | 465 | 322 | 0.0% |
| Q1 2024 | 1,063 | $30.0B | 593,048,483 | 65 | 479 | 315 | 0.0% |
| Q4 2023 | 1,077 | $29.8B | 583,483,282 | 125 | 423 | 323 | 0.0% |
| Q3 2023 | 930 | $20.9B | 433,667,145 | 93 | 383 | 275 | 0.0% |
| Q2 2023 | 898 | $21.0B | 418,673,141 | 62 | 366 | 279 | 0.0% |
| Q1 2023 | 881 | $20.5B | 404,220,099 | 87 | 357 | 250 | 0.0% |
| Q4 2022 | 860 | $18.4B | 371,003,857 | 137 | 302 | 278 | 0.0% |
| Q3 2022 | 755 | $95.0B | 1,972,181,590 | 72 | 298 | 258 | 0.0% |
| Q2 2022 | 765 | $87.5B | 1,752,578,055 | 122 | 253 | 282 | 0.0% |
| Q1 2022 | 728 | $87.6B | 1,696,277,475 | 84 | 283 | 225 | 0.0% |
| Q4 2021 | 723 | $74.6B | 1,358,173,895 | 67 | 288 | 138 | 0.0% |
| Q3 2021 | 639 | $34.6B | 626,088,637 | 60 | 295 | 113 | 0.0% |
| Q2 2021 | 618 | $30.5B | 551,503,738 | 58 | 288 | 104 | 0.0% |
| Q1 2021 | 576 | $26.0B | 476,352,579 | 57 | 272 | 116 | 0.0% |
| Q4 2020 | 542 | $24.0B | 435,167,387 | 57 | 244 | 91 | 0.0% |
| Q3 2020 | 458 | $15.0B | 276,406,015 | 57 | 201 | 92 | 0.0% |
| Q2 2020 | 427 | $14.2B | 262,450,645 | 57 | 178 | 98 | 0.0% |
| Q1 2020 | 408 | $12.6B | 238,851,642 | 59 | 144 | 120 | 0.0% |
| Q4 2019 | 386 | $13.8B | 257,424,930 | 51 | 171 | 52 | 0.0% |
| Q3 2019 | 315 | $12.2B | 226,942,216 | 37 | 134 | 53 | 0.0% |
| Q2 2019 | 290 | $19.6B | 368,960,204 | 37 | 114 | 60 | 0.0% |
| Q1 2019 | 273 | $12.3B | 236,554,379 | 42 | 104 | 62 | 0.0% |
| Q4 2018 | 251 | $12.6B | 245,954,022 | 4 | 6 | 7 | 0.0% |