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ACP

abrdn Income Credit Strategies Fund
ACP

32 hedge funds and large institutions have $51.3M invested in abrdn Income Credit Strategies Fund in 2016 Q4 according to their latest regulatory filings, with 4 funds opening new positions, 13 increasing their positions, 11 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

18% more repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 11

4% less capital invested

Capital invested by funds: $53.2M → $51.3M (-$1.94M)

2.25% less ownership

Funds ownership: 32.43% → 30.18% (-2.2%)

14% less funds holding

Funds holding: 37 → 32 (-5)

50% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 8

Holders
32
Holders Change
-5
Holders Change %
-13.51%
% of All Funds
0.8%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
13
Reduced
11
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GC
Guggenheim Capital
Illinois
+$1.94M
2
SIA
Sit Investment Associates
Minnesota
+$1.81M
3
TJHA
Thomas J. Herzfeld Advisors
Florida
+$1.49M
4
Bessemer Group
Bessemer Group
New Jersey
+$555K
5
LCM
Laurion Capital Management
New York
+$421K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$4.24M
2
RCM
Rivernorth Capital Management
Florida
-$2.14M
3
CCP
Clough Capital Partners
Massachusetts
-$1.39M
4
Invesco
Invesco
Georgia
-$980K
5
CA
Cornerstone Advisors
North Carolina
-$743K
Name Holding Trade Value Shares
Change 		Change in
Stake
AA
26
AQR Arbitrage
Connecticut
$237K -$29K -2,331 -11%
TC
27
Telemus Capital
Michigan
$234K – – –
Wells Fargo
28
Wells Fargo
California
$211K +$104K +8,397 +108%
Citigroup
29
Citigroup
New York
$77K +$1.99K +160 +3%
MFS
30
MSI Financial Services
Massachusetts
$27K -$89.9K -7,229 -78%
PCM
31
Penserra Capital Management
California
$3K +$870 +70 +37%
LWM
32
LBA Wealth Management
Florida
$2K – – –
IWM
33
IHT Wealth Management
Illinois
$1K +$1.28K +103 New
CCP
34
Clough Capital Partners
Massachusetts
– -$1.39M -110,814 Closed
Invesco
35
Invesco
Georgia
– -$980K -78,037 Closed
Cambridge Investment Research Advisors
36
Cambridge Investment Research Advisors
Iowa
– -$597K -47,581 Closed
SIM
37
Strategic Investment Management
Virginia
– -$156K -12,481 Closed
Envestnet Asset Management
38
Envestnet Asset Management
Illinois
– -$150K -11,950 Closed
JFA
39
JNBA Financial Advisors
Minnesota
– -$2K -166 Closed
S
40
SignatureFD
Georgia
– -$2K -166 Closed
1
2

ACP Hedge Fund Activity: Q4 2016 in Review

32 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in abrdn Income Credit Strategies Fund (ACP) for Q4 2016, worth a combined $51.3M — down 3.6% from $53.2M a quarter earlier.

Sellers outnumbered buyers: 8 funds closed out of ACP and 4 opened new positions — a net loss of 4 holders — while 11 trimmed existing stakes and 13 added.

The largest buyer was Guggenheim Capital, adding an estimated $1.94M. The largest seller was Morgan Stanley, cutting an estimated $4.24M.

  • 32 institutional investors held abrdn Income Credit Strategies Fund (ACP) as of Q4 2016, down from 37 in Q3 2016.
  • Funds reported $51.3M of abrdn Income Credit Strategies Fund stock for Q4 2016, down 3.6% quarter-over-quarter.
  • 4 funds opened new abrdn Income Credit Strategies Fund positions in Q4 2016 and 8 closed out, a net change of -4 holders.
  • The largest abrdn Income Credit Strategies Fund buyer in Q4 2016 was Guggenheim Capital, an estimated $1.94M added.
  • The largest abrdn Income Credit Strategies Fund seller in Q4 2016 was Morgan Stanley, an estimated $4.24M sold.

Based on aggregated 13F filings for Q4 2016.