Vault-13

BLACKROCK MUN TARGET TERM TR BTT

COM SHS BEN IN · Closed-End Fund · CUSIP 09257P105

132 institutional holders -2 vs Q1 2025
25,365,71325.4m shares reported held*
$555.4mreported value*
11 new 46 added 39 reduced 12 sold out net bought ≈ $8.5m (+388.8k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $21.90. Options: 1 managers hold calls ($0 notional), 1 hold puts ($0).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 108Q4 22: 120Q1 23: 117Q2 23: 119Q3 23: 115Q4 23: 127Q1 24: 123Q2 24: 128Q3 24: 128Q4 24: 141Q1 25: 134Q2 25: 132132Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022108
Q4 2022120
Q1 2023117
Q2 2023119
Q3 2023115
Q4 2023127
Q1 2024123
Q2 2024128
Q3 2024128
Q4 2024141
Q1 2025134
Q2 2025132

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 49 bought or addedQ3 23: 56 cut or sold outQ4 23: 55 bought or addedQ4 23: 56 cut or sold outQ4 23Q1 24: 49 bought or addedQ1 24: 57 cut or sold outQ2 24: 58 bought or addedQ2 24: 48 cut or sold outQ2 24Q3 24: 52 bought or addedQ3 24: 54 cut or sold outQ4 24: 70 bought or addedQ4 24: 50 cut or sold outQ4 24Q1 25: 57 bought or addedQ1 25: 56 cut or sold outQ2 25: 57 bought or addedQ2 25: 51 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234956
Q4 20235556
Q1 20244957
Q2 20245848
Q3 20245254
Q4 20247050
Q1 20255756
Q2 20255751

Biggest buyers

Karpus Management, Inc. Added +575,137+575.1k
Pathstone Holdings, LLC Added +481,281+481.3k
Rockefeller Capital Management L.P. Added +107,411+107.4k
Tortoise Investment Management, LLC Added +103,140+103.1k
ROYAL BANK OF CANADA Added +85,201+85.2k
Saba Capital Management, L.P. Added +74,529+74.5k
UBS Group AG Added +60,191+60.2k
Allspring Global Investments Holdings, LLC Added +47,505+47.5k
Thomas J. Herzfeld Advisors, Inc. New +36,048+36.0k
ENVESTNET ASSET MANAGEMENT INC Added +32,865+32.9k

Biggest sellers

Logan Stone Capital, LLC Reduced -407,928-407.9k
RIVERNORTH CAPITAL MANAGEMENT, LLC Reduced -265,617-265.6k
AQR Arbitrage LLC Sold out -153,331-153.3k
CITY OF LONDON INVESTMENT MANAGEMENT CO LTD Reduced -89,219-89.2k
BANK OF AMERICA CORP /DE/ Reduced -86,065-86.1k
WOLVERINE ASSET MANAGEMENT LLC Sold out -70,530-70.5k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Sold out -60,461-60.5k
GILL CAPITAL PARTNERS, LLC Sold out -51,962-52.0k
Advisors Asset Management, Inc. Reduced -40,475-40.5k
WealthBridge Capital Management, LLC Reduced -26,104-26.1k

Biggest calls

Biggest puts

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Karpus Management, Inc. 13G · institution +1.3 pts · filed 2025-11-14 6.9% +1.3 pts 4.4m≈ $100.3m 2025-11-14

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q3 23: 0 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 0 sellingQ4 24: 1 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20230—0——
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——
Q3 20240—0——
Q4 20241$2110——
Q1 20250—0——
Q2 20250—0——

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Karpus Management, Inc. 2.53% of their portfolio Pittsford, NY 3,587,8793.6m $78.5m $78.5m 2.53% Added +575.1k +575,137
2 Pathstone Holdings, LLC 0.18% of their portfolio ENGLEWOOD, NJ 2,123,6312.1m $46.5m $46.5m 0.18% Added +481.3k +481,281
3 MacKay Shields LLC 1.10% of their portfolio New York, NY 1,563,9071.6m $34.2m $34.2m 1.10% Unchanged
4 Almitas Capital LLC 8.61% of their portfolio SANTA MONICA, CA 1,558,2601.6m $34.1m $34.1m 8.61% Reduced -602 -602
5 Allspring Global Investments Holdings, LLC 0.05% of their portfolio CHARLOTTE, NC 1,406,6871.4m $30.8m $30.8m 0.05% Added +47.5k +47,505
6 RIVERNORTH CAPITAL MANAGEMENT, LLC 1.57% of their portfolio WEST PALM BEACH, FL 1,300,5571.3m $28.5m $28.5m 1.57% Reduced -265.6k -265,617
7 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,286,3051.3m $28.2m $28.2m 0.00% Added +618 +618
8 Tortoise Investment Management, LLC 2.48% of their portfolio WHITE PLAINS, NY 1,189,4861.2m $26.0m $26.0m 2.48% Added +103.1k +103,140
9 Saba Capital Management, L.P. 0.52% of their portfolio NEW YORK, NY 877,113877.1k $19.2m $19.2m 0.52% Added +74.5k +74,529
10 UBS Group AG 0.00% of their portfolio ZURICH, V8 790,087790.1k $17.3m $17.3m 0.00% Added +60.2k +60,191
11 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 774,535774.5k $17.0m $17.0m 0.00% Reduced -86.1k -86,065
12 CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 1.24% of their portfolio London, X0 609,059609.1k $13.3m $13.3m 1.24% Reduced -89.2k -89,219
13 SENTINEL TRUST CO LBA 1.38% of their portfolio HOUSTON, TX 581,696581.7k $12.7m $12.7m 1.38% Unchanged
14 Merit Financial Group, LLC 0.12% of their portfolio ALPHARETTA, GA 471,040471.0k $10.3m $10.3m 0.12% Reduced -4.1k -4,094
15 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 451,662451.7k $9.9m $9.9m 0.00% Reduced -8.6k -8,605
16 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 448,688448.7k $9.8m $9.8m 0.01% Reduced -8.9k -8,931
17 Narwhal Capital Management 0.74% of their portfolio MARIETTA, GA 423,363423.4k $9.3m $9.3m 0.74% Added +52 +52
18 Hennion & Walsh Asset Management, Inc. 0.33% of their portfolio Parsippany, NJ 375,301375.3k $8.2m $8.2m 0.33% Added +2.0k +2,027
19 1607 Capital Partners, LLC 0.58% of their portfolio Richmond, VA 327,479327.5k $7.2m $7.2m 0.58% Reduced -440 -440
20 NorthCoast Asset Management LLC 0.03% of their portfolio STAMFORD, CT 280,289280.3k $6.1m $6.1m 0.03% Added +104 +104
21 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 251,134251.1k $5.6m $5.6m 0.01% Added +107.4k +107,411
22 Jacobi Capital Management LLC 0.30% of their portfolio PITTSTON, PA 204,516204.5k $4.5m $4.5m 0.30% Reduced -11.5k -11,476
23 WealthBridge Capital Management, LLC 1.12% of their portfolio WESTERVILLE, OH 201,276201.3k $4.4m $4.4m 1.12% Reduced -26.1k -26,104
24 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 197,082197.1k $4.3m $4.3m 0.00% Reduced -4.8k -4,788
25 Beverly Hills Private Wealth, LLC 0.68% of their portfolio BEVERLY HILLS, CA 164,879164.9k $3.6m $3.6m 0.68% Reduced -8.3k -8,302
26 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 162,788162.8k $3.6m $3.6m 0.00% Added +85.2k +85,201
27 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 159,273159.3k $3.5m $3.5m 0.00% Added +32.9k +32,865
28 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 142,950142.9k $3.1m $3.1m 0.01% Reduced -500 -500
29 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 139,898139.9k $3.1m $3.1m 0.00% Added +1.8k +1,793
30 Elgethun Capital Management 0.58% of their portfolio SIOUX FALLS, SD 132,251132.3k $2.9m $2.9m 0.58% Added +170 +170
31 Maltin Wealth Management, Inc. 1.28% of their portfolio RIDGEWOOD, NJ 129,683129.7k $2.8m $2.8m 1.28% Added +16.3k +16,273
32 Hara Capital LLC 1.63% of their portfolio BELLEVUE, WA 120,385120.4k $2.6m $2.6m 1.63% Added +23.1k +23,063
33 Scarborough Advisors, LLC 0.51% of their portfolio ANNAPOLIS, MD 118,154118.2k $2.6m $2.6m 0.51% Added +738 +738
34 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 115,377115.4k $2.5m $2.5m 0.02% Added +19.9k +19,861
35 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 111,399111.4k $2.4m $2.4m 0.02% Reduced -3.3k -3,262
36 Eldridge Investment Advisors, Inc. 0.49% of their portfolio MANCHESTER, NH 107,867107.9k $2.4m $2.4m 0.49% Reduced -1.7k -1,668
37 Waterfront Wealth Inc. 0.53% of their portfolio OVERLAND PARK, KS 107,529107.5k $2.4m $2.4m 0.53% Reduced -4.7k -4,723
38 Amplius Wealth Advisors, LLC 0.21% of their portfolio BLUE BELL, PA 104,810104.8k $2.3m $2.3m 0.21% Reduced -400 -400
39 Matisse Capital 1.04% of their portfolio PORTLAND, OR 100,739100.7k $2.2m $2.2m 1.04% Unchanged
40 WALTER & KEENAN WEALTH MANAGEMENT LLC /IN/ /ADV 0.59% of their portfolio SOUTH BEND, IN 92,75192.8k $2.0m $2.0m 0.59% Reduced -10.9k -10,935
41 Dakota Wealth Management 0.04% of their portfolio PALM BEACH GARDENS, FL 88,90088.9k $1.9m $1.9m 0.04% Added +6.9k +6,900
42 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 88,21488.2k $1.9m $1.9m 0.00% Reduced -2.1k -2,112
43 IEQ CAPITAL, LLC 0.01% of their portfolio Foster City, CA 79,38579.4k $1.7m $1.7m 0.01% Added +32.4k +32,370
44 Gridiron Partners, LLC 1.03% of their portfolio Wexford, PA 75,85575.9k $1.7m $1.7m 1.03% Unchanged
45 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 74,67974.7k $1.6m $1.6m 0.00% Added +4.2k +4,197
46 Anchor Investment Management, LLC 0.13% of their portfolio COLUMBIA, SC 70,26670.3k $1.5m $1.5m 0.13% Added +2.3k +2,321
47 Advisors Asset Management, Inc. 0.03% of their portfolio Monument, CO 68,60468.6k $1.5m $1.5m 0.03% Reduced -40.5k -40,475
48 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 61,11061.1k $1.3m $1.3m 0.00% Reduced -351 -351
49 Seed Wealth Management, Inc. 0.97% of their portfolio EVANSTON, IL 59,62059.6k $1.3m $1.3m 0.97% Reduced -3.1k -3,100
50 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 56,10056.1k $1.2m $1.2m 0.00% Reduced -1.5k -1,460
51 PINNACLE ASSOCIATES LTD 0.02% of their portfolio NEW YORK, NY 55,17255.2k $1.2m $1.2m 0.02% Added +13 +13
52 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 48,68348.7k $1.1m $1.1m 0.01% Added +24 +24
53 B. Riley Wealth Advisors, Inc. 0.05% of their portfolio MEMPHIS, TN 46,46146.5k $1.0m $1.0m 0.05% Added +2.5k +2,456
54 EP Wealth Advisors, LLC 0.01% of their portfolio TORRANCE, CA 45,30445.3k $991.7k $991.7k 0.01% Unchanged
55 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 45,19245.2k $989.3k $989.3k 0.00% Reduced -1.7k -1,724
56 Oder Investment Management, LLC 0.72% of their portfolio WOODLAND HILLS, CA 43,76743.8k $958.1k $958.1k 0.72% Added +5.9k +5,943
57 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 42,85642.9k $938.1k $938.1k 0.01% Added +177 +177
58 RIVERBRIDGE PARTNERS LLC 0.01% of their portfolio MINNEAPOLIS, MN 39,98840.0k $875.3k $875.3k 0.01% Added +1.5k +1,469
59 Logan Stone Capital, LLC 0.39% of their portfolio CHICAGO, IL 37,56637.6k $822.3k $822.3k 0.39% Reduced -407.9k -407,928
60 Thomas J. Herzfeld Advisors, Inc. 0.28% of their portfolio MIAMI BEACH, FL 36,04836.0k $789.1k $789.1k 0.28% New
61 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 31,61931.6k $692.1k $692.1k 0.01% Reduced -389 -389
62 LexAurum Advisors, LLC 0.11% of their portfolio OVERLAND PARK, KS 30,93930.9k $677.2k $677.2k 0.11% Reduced -16.4k -16,387
63 PRIVATE TRUST CO NA 0.06% of their portfolio CLEVELAND, OH 29,66729.7k $649.4k $649.4k 0.06% Unchanged
64 Andrew Hill Investment Advisors, Inc. 0.49% of their portfolio NAPLES, FL 27,78927.8k $608.3k $608.3k 0.49% Added +465 +465
65 PETRA FINANCIAL ADVISORS INC 0.38% of their portfolio COLORADO SRPINGS, CO 27,03027.0k $591.7k $591.7k 0.38% Added +2.9k +2,935
66 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 25,98526.0k $568.8k $568.8k 0.01% Reduced -11.5k -11,455
67 INTEGRATED CAPITAL MANAGEMENT, INC. 0.42% of their portfolio JESSUP, PA 25,32125.3k $554.3k $554.3k 0.42% Added +6.1k +6,135
68 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 25,31425.3k $554.1k $554.1k 0.01% Added +10.3k +10,317
69 ENCOMPASS WEALTH ADVISORS, LLC 0.20% of their portfolio PORTLAND, OR 24,40024.4k $534.1k $534.1k 0.20% Unchanged
70 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 23,92123.9k $524.0k $524.0k 0.00% Reduced -1.8k -1,829
71 Wilmington Savings Fund Society, FSB 0.01% of their portfolio WILMINGTON, DE 23,47223.5k $513.8k $513.8k 0.01% Reduced -3 -3
72 Magnus Financial Group LLC 0.04% of their portfolio NEW YORK, NY 23,14523.1k $506.6k $506.6k 0.04% Added +291 +291
73 Successful Portfolios LLC 0.29% of their portfolio CLEARWATER, FL 21,70721.7k $475.2k $475.2k 0.29% Unchanged
74 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 21,65221.7k $474.0k $474.0k 0.00% Added +10.9k +10,886
75 GUGGENHEIM CAPITAL LLC 0.00% of their portfolio CHICAGO, IL 20,19520.2k $442.1k $442.1k 0.00% Reduced -4.6k -4,610
76 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 19,86519.9k $434.8k $434.8k 0.00% New
77 CWM, LLC 0.00% of their portfolio OMAHA, NE 19,50019.5k $427.0k $427.0k 0.00% Unchanged
78 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 19,00719.0k $416.1k $416.1k 0.01% Added +110 +110
79 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 18,51318.5k $410.3k $410.3k 0.01% Reduced -4.4k -4,353
80 Covenant Asset Management, LLC 0.08% of their portfolio CHESTER, NJ 18,49018.5k $404.7k $404.7k 0.08% Unchanged
81 Icon Wealth Advisors, LLC 0.03% of their portfolio HOUSTON, TX 16,82516.8k $368.3k $368.3k 0.03% Unchanged
82 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.06% of their portfolio BLUE BELL, PA 15,60015.6k $341.5k $341.5k 0.06% Added +1.9k +1,900
83 Avior Wealth Management, LLC 0.01% of their portfolio OMAHA, NE 15,25215.3k $333.9k $333.9k 0.01% Reduced -15.1k -15,059
84 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 15,07515.1k $330.0k $330.0k 0.00% Added +2.4k +2,355
85 Ritter Daniher Financial Advisory LLC / DE 0.08% of their portfolio CINCINNATI, OH 15,03015.0k $329.0k $329.0k 0.08% Added +98 +98
86 Tamar Securities, LLC 0.04% of their portfolio Woodland Hills, CA 14,84314.8k $324.9k $324.9k 0.04% Reduced -2.0k -1,992
87 Smith Asset Management Co., LLC 0.28% of their portfolio Chiefland, FL 14,68914.7k $321.6k $321.6k 0.28% Unchanged
88 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 14,35614.4k $314.3k $314.3k 0.00% Reduced -6.3k -6,300
89 Summit Financial Wealth Advisors, LLC 0.05% of their portfolio Lafayette, LA 13,65013.7k $298.8k $298.8k 0.05% Unchanged
90 CARY STREET PARTNERS FINANCIAL LLC 0.01% of their portfolio RICHMOND, VA 13,53913.5k $296.4k $296.4k 0.01% Unchanged
91 Aviance Capital Partners, LLC 0.04% of their portfolio NAPLES, FL 13,48413.5k $295.2k $295.2k 0.04% Added +2.3k +2,314
92 Wellspring Financial Advisors, LLC 0.03% of their portfolio CLEVELAND, OH 13,03313.0k $285.3k $285.3k 0.03% New
93 Edge Wealth Management LLC 0.05% of their portfolio NEW YORK, NY 13,00013.0k $285.4k $285.4k 0.05% Unchanged
94 Wealthcare Advisory Partners LLC 0.01% of their portfolio WEST CHESTER, PA 12,28012.3k $268.8k $268.8k 0.01% Added +7 +7
95 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 11,57911.6k $253.0k $253.0k 0.00% Unchanged
96 Tyche Wealth Partners LLC 0.05% of their portfolio PLANO, TX 11,56011.6k $253.0k $253.0k 0.05% Added +24 +24
97 MELFA WEALTH MANAGEMENT, INC. 0.16% of their portfolio WESTBOROUGH, MA 11,48911.5k $251.5k $251.5k 0.16% Reduced -101 -101
98 HARBOR INVESTMENT ADVISORY, LLC 0.02% of their portfolio LUTHERVILLE, MD 11,47611.5k $251.2k $251.2k 0.02% Unchanged
99 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 11,38711.4k $249.3k $249.3k 0.00% Reduced -890 -890
100 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 11,20911.2k $245.4k $245.4k 0.00% Added +1.4k +1,393