Who owns VANGUARD TAX-EXEMPT BOND INDEX FUND (VTEB)
Which tracked institutional funds hold VTEB, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See VTEB company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-19). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
387 tracked funds added or opened VTEB while 171 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
VTEB’s largest tracked holder by dollar value, JPMORGAN CHASE & CO, sizes it at 0.2% of its own reported 13F book, while the median holder sizes it at 0.7% of theirs — a 0.5pp gap the other way — the median holder sizes VTEB more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in VTEB divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 1355 tracked filers holding VTEB, 794 increased or opened the position and 497 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in VTEB between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 52
- Garde Capital, Inc.$46M
- BIP Wealth, LLC$36M
- RIVERNORTH CAPITAL MANAGEMENT, LLC$27M
- Evanson Financial, LLC$17M
- Tidal Investments LLC$11M
- Royal Harbor Partners, LLC$10M
Full exits 59
- Betterment LLC$346M
- HighTower Advisors, LLC$131M
- Integrated Wealth Concepts LLC$64M
- THOMPSON SIEGEL & WALMSLEY LLC$49M
- CX Institutional$29M
- CWM, LLC$22M
Largest adds
- JPMORGAN CHASE & CO$552M
- RAYMOND JAMES FINANCIAL INC$145M
- JANE STREET GROUP, LLC$138M
- JONES FINANCIAL COMPANIES LLLP$99M
- SEI INVESTMENTS CO$95M
- Savant Capital, LLC$85M
Largest trims
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC$75M
- L2 Asset Management, LLC$12M
- CITADEL ADVISORS LLC$11M
- Mallini Complete Financial Planning LLC$10M
- Topsail Wealth Management, LLC$7M
- ANDERSON HOAGLAND & CO$7M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| JPMORGAN CHASE & CO added | 54,850,518 | $2.8B | 10.8% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO trimmed | 38,222,195 | $1.9B | 7.5% | 2026-Q2 |
| MORGAN STANLEY added | 27,969,204 | $1.4B | 5.5% | 2026-Q2 |
| Creative Planning trimmed | 27,320,238 | $1.4B | 5.4% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 26,966,940 | $1.4B | 5.3% | 2026-Q2 |
| Wealthfront Advisers LLC added | 26,083,419 | $1.3B | 5.1% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 23,006,893 | $1.2B | 4.5% | 2026-Q2 |
| FMR LLC added | 21,371,891 | $1.1B | 4.2% | 2026-Q2 |
| SEI INVESTMENTS CO added | 15,843,041 | $801M | 3.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 14,838,724 | $751M | 2.9% | 2026-Q2 |
| NORTHERN TRUST CORP added | 14,811,340 | $749M | 2.9% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 13,964,302 | $706M | 2.8% | 2026-Q2 |
| TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC added | 13,190,508 | $667M | 2.6% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV added | 11,479,867 | $581M | 2.3% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 10,675,389 | $540M | 2.1% | 2026-Q2 |
| LPL Financial LLC added | 10,444,670 | $528M | 2.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 7,174,048 | $363M | 1.4% | 2026-Q2 |
| CLIFTONLARSONALLEN WEALTH ADVISORS, LLC added | 6,394,230 | $323M | 1.3% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 5,852,832 | $296M | 1.2% | 2026-Q2 |
| Mariner, LLC added | 4,779,573 | $242M | 0.9% | 2026-Q2 |
| Corient Private Wealth LP added | 4,573,059 | $231M | 0.9% | 2026-Q2 |
| UBS Group AG added | 4,522,126 | $229M | 0.9% | 2026-Q2 |
| RWA WEALTH PARTNERS, LLC added | 4,476,441 | $226M | 0.9% | 2026-Q2 |
| Cerity Partners LLC added | 4,415,366 | $223M | 0.9% | 2026-Q2 |
| VANGUARD ADVISERS INC added | 4,362,459 | $221M | 0.9% | 2026-Q2 |
| ASPIRIANT, LLC added | 4,272,813 | $216M | 0.8% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 3,756,633 | $190M | 0.7% | 2026-Q2 |
| US BANCORP \DE\ added | 3,591,532 | $182M | 0.7% | 2026-Q2 |
| Orgel Wealth Management, LLC added | 3,570,951 | $181M | 0.7% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 3,427,973 | $173M | 0.7% | 2026-Q2 |
| Savant Capital, LLC added | 3,290,574 | $165M | 0.6% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 2,754,583 | $139M | 0.5% | 2026-Q2 |
| Facet Wealth, Inc. trimmed | 2,590,804 | $131M | 0.5% | 2026-Q2 |
| Pathstone Holdings, LLC added | 2,474,937 | $125M | 0.5% | 2026-Q2 |
| Members Trust Co added | 2,454,801 | $124M | 0.5% | 2026-Q2 |
| PNC Financial Services Group, Inc. trimmed | 2,403,494 | $122M | 0.5% | 2026-Q2 |
| OneDigital Investment Advisors LLC added | 2,289,562 | $116M | 0.5% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 2,240,261 | $113M | 0.4% | 2026-Q2 |
| Wedmont Private Capital added | 2,167,958 | $109M | 0.4% | 2026-Q2 |
| Bank of New York Mellon Corp added | 2,105,092 | $106M | 0.4% | 2026-Q2 |
| Sequoia Financial Advisors, LLC added | 2,073,127 | $105M | 0.4% | 2026-Q2 |
| Prime Capital Investment Advisors, LLC added | 1,951,599 | $99M | 0.4% | 2026-Q2 |
| GeoWealth Management, LLC added | 1,891,755 | $96M | 0.4% | 2026-Q2 |
| SCS Capital Management LLC trimmed | 1,829,597 | $93M | 0.4% | 2026-Q2 |
| EP Wealth Advisors, LLC added | 1,826,588 | $92M | 0.4% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC added | 1,776,200 | $90M | 0.3% | 2026-Q2 |
| Baird Financial Group, Inc. added | 1,732,100 | $88M | 0.3% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 1,664,709 | $82M | 0.3% | 2026-Q2 |
| Lutz Financial Services LLC added | 1,663,916 | $84M | 0.3% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 1,653,614 | $84M | 0.3% | 2026-Q2 |
| MBB PUBLIC MARKETS I LLC added | 1,614,405 | $82M | 0.3% | 2026-Q2 |
| Composition Wealth, LLC added | 1,594,643 | $81M | 0.3% | 2026-Q2 |
| TIAA Wealth Investment Management LLC added | 1,560,240 | $79M | 0.3% | 2026-Q2 |
| Sanctuary Advisors, LLC added | 1,414,356 | $72M | 0.3% | 2026-Q2 |
| Bleakley Financial Group, LLC added | 1,372,365 | $69M | 0.3% | 2026-Q2 |
| Alvarez & Marsal Private Wealth Partners, LLC trimmed | 1,371,433 | $69M | 0.3% | 2026-Q2 |
| Forum Financial Management, LP trimmed | 1,306,794 | $66M | 0.3% | 2026-Q2 |
| Cetera Investment Advisers added | 1,273,913 | $64M | 0.3% | 2026-Q2 |
| Logan Stone Capital, LLC added | 1,267,176 | $64M | 0.2% | 2026-Q2 |
| BAKER BOYER NATIONAL BANK added | 1,194,965 | $60M | 0.2% | 2026-Q2 |
| GenTrust, LLC added | 1,153,407 | $58M | 0.2% | 2026-Q2 |
| Kestra Investment Management, LLC added | 1,144,888 | $58M | 0.2% | 2026-Q2 |
| West Financial Advisors, LLC added | 1,110,601 | $56M | 0.2% | 2026-Q2 |
| Focus Partners Wealth trimmed | 1,095,147 | $55M | 0.2% | 2026-Q2 |
| Beacon Pointe Advisors, LLC added | 1,057,630 | $53M | 0.2% | 2026-Q2 |
| MATHER GROUP, LLC. added | 1,042,071 | $53M | 0.2% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC added | 1,007,730 | $51M | 0.2% | 2026-Q2 |
| NewEdge Advisors, LLC added | 966,651 | $49M | 0.2% | 2026-Q2 |
| Ackerman Capital Advisors, LLC trimmed | 950,473 | $48M | 0.2% | 2026-Q2 |
| Topsail Wealth Management, LLC trimmed | 942,001 | $48M | 0.2% | 2026-Q2 |
| Texas Capital Bank Wealth Management Services Inc added | 931,751 | $47M | 0.2% | 2026-Q2 |
| M&T Bank Corp added | 926,398 | $47M | 0.2% | 2026-Q2 |
| Garde Capital, Inc. added | 905,827 | $46M | 0.2% | 2026-Q2 |
| Fort Point Capital Partners LLC added | 878,929 | $44M | 0.2% | 2026-Q2 |
| Beaird Harris Wealth Management, LLC trimmed | 875,617 | $44M | 0.2% | 2026-Q2 |
| Foster Group, Inc. trimmed | 873,883 | $44M | 0.2% | 2026-Q2 |
| Heritage Investment Group, Inc. trimmed | 867,367 | $44M | 0.2% | 2026-Q2 |
| Allworth Financial LP trimmed | 867,210 | $44M | 0.2% | 2026-Q2 |
| Financial Engines Advisors L.L.C. added | 859,684 | $43M | 0.2% | 2026-Q2 |
| New York Life Investment Management LLC added | 858,958 | $43M | 0.2% | 2026-Q2 |
| Global Strategic Investment Solutions, LLC added | 854,509 | $43M | 0.2% | 2026-Q2 |
| One Capital Management, LLC | 845,847 | $42M | 0.2% | 2026-Q2 |
| Sunflower Bank, N.A. trimmed | 840,472 | $43M | 0.2% | 2026-Q2 |
| OLD NATIONAL BANCORP /IN/ added | 837,585 | $42M | 0.2% | 2026-Q2 |
| TRUIST FINANCIAL CORP trimmed | 831,195 | $42M | 0.2% | 2026-Q2 |
| JFS WEALTH ADVISORS, LLC added | 823,707 | $42M | 0.2% | 2026-Q2 |
| Avidian Wealth Enterprises, LLC added | 800,354 | $40M | 0.2% | 2026-Q2 |
| NICOLET BANKSHARES INC trimmed | 789,092 | $40M | 0.2% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 775,081 | $39M | 0.2% | 2026-Q2 |
| Lexington Hill Partners, LLC added | 770,612 | $39M | 0.2% | 2026-Q2 |
| EVERGREEN CAPITAL MANAGEMENT LLC | 745,522 | $38M | 0.1% | 2026-Q2 |
| BSW Wealth Partners added | 737,502 | $37M | 0.1% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 732,688 | $37M | 0.1% | 2026-Q2 |
| BIP Wealth, LLC added | 704,661 | $36M | 0.1% | 2026-Q2 |
| Bragg Financial Advisors, Inc added | 704,588 | $36M | 0.1% | 2026-Q2 |
| Bedel Financial Consulting, Inc. trimmed | 703,574 | $36M | 0.1% | 2026-Q2 |
| Waldron Private Wealth LLC trimmed | 697,759 | $35M | 0.1% | 2026-Q2 |
| Merit Financial Group, LLC added | 694,370 | $35M | 0.1% | 2026-Q2 |
| Crestwood Advisors Group, LLC trimmed | 694,212 | $35M | 0.1% | 2026-Q2 |
| MANNING & NAPIER ADVISORS LLC added | 681,741 | $35M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.