abrdn Income Credit Strategies Fund
ACP
26 hedge funds and large institutions have $28M invested in abrdn Income Credit Strategies Fund in 2020 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 7 increasing their positions, 14 reducing their positions, and 13 closing their positions.
9.09% less ownership
Funds ownership: 27.19% → 18.1% (-9.1%)
19% less capital invested
Capital invested by funds: $34.7M → $28M (-$6.66M)
30% less funds holding
Funds holding: 37 → 26 (-11)
50% less repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 14
85% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 13
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DP
Denver PWM
Denver,
Colorado
|
+$487K |
| 2 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
+$229K |
| 3 |
CIBC Private Wealth Group
Atlanta,
Georgia
|
+$202K |
| 4 |
LPL Financial
San Diego,
California
|
+$128K |
| 5 |
MAFM
Mid Atlantic Financial Management
Pittsburgh,
Pennsylvania
|
+$42.5K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$5.79M |
| 2 |
AAM
Advisors Asset Management
Monument,
Colorado
|
-$940K |
| 3 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$894K |
| 4 |
CCP
Clough Capital Partners
Boston,
Massachusetts
|
-$724K |
| 5 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$714K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
CAN
26
Cetera Advisor Networks
El Segundo,
California
| $3K | +$2.29K | +287 | New |
|
|
SCM
27
Saba Capital Management
New York
| – | -$5.79M | -793,542 | Closed |
|
|
CCP
28
Clough Capital Partners
Boston,
Massachusetts
| – | -$724K | -99,239 | Closed |
|
29
Envestnet Asset Management
Chicago,
Illinois
| – | -$387K | -53,085 | Closed |
|
|
WAM
30
Wolverine Asset Management
Chicago,
Illinois
| – | -$310K | -42,605 | Closed |
|
|
MC
31
Matisse Capital
Portland,
Oregon
| – | -$269K | -36,874 | Closed |
|
|
SFS
32
Shaker Financial Services
Arlington,
Virginia
| – | -$235K | -32,164 | Closed |
|
|
LFASL
33
Lugano Financial Advisors SA (LFA)
Lugano,
Switzerland
| – | -$362K | -31,334 | Closed |
|
34
Goldman Sachs
New York
| – | -$140K | -19,229 | Closed |
|
|
CL
35
CSS LLC
Chicago,
Illinois
| – | -$103K | -14,090 | Closed |
|
|
CRC
36
Curi RMB Capital
Chicago,
Illinois
| – | -$79K | -10,763 | Closed |
|
|
ASN
37
Advisory Services Network
Atlanta,
Georgia
| – | -$22K | -2,971 | Closed |
|
|
VRM
38
Vectors Research Management
New York
| – | -$7K | -906 | Closed |
|
ACP Hedge Fund Activity: Q2 2020 in Review
26 of the 4,878 institutional investors tracked by Wall St. Rank reported a position in abrdn Income Credit Strategies Fund (ACP) for Q2 2020, worth a combined $28M — down 19% from $34.7M a quarter earlier.
Sellers outnumbered buyers: 13 funds closed out of ACP and 2 opened new positions — a net loss of 11 holders — while 14 trimmed existing stakes and 7 added.
The largest buyer was Denver PWM, adding an estimated $487K. The largest seller was Saba Capital Management, exiting entirely with an estimated $5.79M sold.
- 26 institutional investors held abrdn Income Credit Strategies Fund (ACP) as of Q2 2020, down from 37 in Q1 2020.
- Funds reported $28M of abrdn Income Credit Strategies Fund stock for Q2 2020, down 19% quarter-over-quarter.
- 2 funds opened new abrdn Income Credit Strategies Fund positions in Q2 2020 and 13 closed out, a net change of -11 holders.
- The largest abrdn Income Credit Strategies Fund buyer in Q2 2020 was Denver PWM, an estimated $487K added.
- The largest abrdn Income Credit Strategies Fund seller in Q2 2020 was Saba Capital Management, an estimated $5.79M sold.
Based on aggregated 13F filings for Q2 2020.