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BGB

Blackstone Strategic Credit 2027 Term Fund
BGB

62 hedge funds and large institutions have $258M invested in Blackstone Strategic Credit 2027 Term Fund in 2015 Q4 according to their latest regulatory filings, with 22 funds opening new positions, 19 increasing their positions, 16 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 10

24% more funds holding

Funds holding: 50 → 62 (+12)

19% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 16

0.88% more ownership

Funds ownership: 42.25% → 43.13% (+0.88%)

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

4% less capital invested

Capital invested by funds: $268M → $258M (-$10.6M)

Holders
62
Holders Change
+12
Holders Change %
+24%
% of All Funds
1.63%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.08%
New
22
Increased
19
Reduced
16
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
JP Morgan Chase
JP Morgan Chase
New York
+$16.7M
2
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
+$4.21M
3
RJFSA
Raymond James Financial Services Advisors
Florida
+$3.39M
4
PPA
Parametric Portfolio Associates
Washington
+$2.68M
5
RCM
Rivernorth Capital Management
Florida
+$1.97M

Top Sellers

1
KIM
Karpus Investment Management
New York
-$11.1M
2
UBS Group
UBS Group
Switzerland
-$10.1M
3
Bank of America
Bank of America
North Carolina
-$4.01M
4
Morgan Stanley
Morgan Stanley
New York
-$3.09M
5
FIMG
Financial & Investment Management Group
Michigan
-$2.19M
Name Holding Trade Value Shares
Change 		Change in
Stake
GC
26
Guggenheim Capital
Illinois
$1.66M +$947K +67,475 +119%
SPCM
27
Sound Point Capital Management
New York
$1.29M +$1.35M +96,244 New
MIFH
28
Migdal Insurance & Financial Holdings
Israel
$1.26M +$1.31M +93,185 New
LPL Financial
29
LPL Financial
California
$1.22M +$594K +42,287 +89%
SCM
30
SCS Capital Management
Massachusetts
$1.17M +$27K +1,924 +2%
WAM
31
Weiss Asset Management
Massachusetts
$882K +$926K +65,987 New
KIM
32
Karpus Investment Management
New York
$832K -$11.1M -788,723 -93%
NMC
33
Nine Masts Capital
Hong Kong
$752K +$789K +56,231 New
NCM
34
Newgate Capital Management
Connecticut
$663K -$2.04M -145,180 -75%
Stifel Financial
35
Stifel Financial
Missouri
$635K +$667K +47,504 New
LCM
36
Landscape Capital Management
New Jersey
$601K +$245K +17,474 +64%
GWM
37
Greenwich Wealth Management
Connecticut
$589K -$598K -42,619 -49%
HCMT
38
Highland Capital Management (Texas)
Texas
$535K – – –
KJHP
39
K.J. Harrison & Partners
Ontario, Canada
$524K +$550K +39,200 New
SCM
40
Summit Capital Management
Washington
$506K +$531K +37,826 New
SG Americas Securities
41
SG Americas Securities
New York
$410K +$430K +30,640 New
WAM
42
Wolverine Asset Management
Illinois
$316K -$299K -21,304 -47%
HCM
43
Horrell Capital Management
Arkansas
$285K +$299K +21,300 New
CRC
44
Curi RMB Capital
Illinois
$271K +$285K +20,301 New
Royal Bank of Canada
45
Royal Bank of Canada
Ontario, Canada
$234K – – –
RCM
46
Robinson Capital Management
Michigan
$229K +$241K +17,150 New
RJA
47
Raymond James & Associates
Florida
$209K +$219K +15,629 New
CAM
48
Cidel Asset Management
Ontario, Canada
$193K +$203K +14,450 New
EML
49
Eos Management LP
New York
$179K +$188K +13,382 New
TJHA
50
Thomas J. Herzfeld Advisors
Florida
$172K -$455K -32,449 -72%
1
2
3

BGB Hedge Fund Activity: Q4 2015 in Review

62 of the 3,811 institutional investors tracked by Wall St. Rank reported a position in Blackstone Strategic Credit 2027 Term Fund (BGB) for Q4 2015, worth a combined $258M — down 3.9% from $268M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new BGB positions and 10 closed out — a net gain of 12 holders — while 19 added to existing stakes and 16 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $16.7M. The largest seller was Karpus Investment Management, cutting an estimated $11.1M.

  • 62 institutional investors held Blackstone Strategic Credit 2027 Term Fund (BGB) as of Q4 2015, up from 50 in Q3 2015.
  • Funds reported $258M of Blackstone Strategic Credit 2027 Term Fund stock for Q4 2015, down 3.9% quarter-over-quarter.
  • 22 funds opened new Blackstone Strategic Credit 2027 Term Fund positions in Q4 2015 and 10 closed out, a net change of +12 holders.
  • The largest Blackstone Strategic Credit 2027 Term Fund buyer in Q4 2015 was JP Morgan Chase, an estimated $16.7M added.
  • The largest Blackstone Strategic Credit 2027 Term Fund seller in Q4 2015 was Karpus Investment Management, an estimated $11.1M sold.

Based on aggregated 13F filings for Q4 2015.