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BGB

Blackstone Strategic Credit 2027 Term Fund
BGB

54 hedge funds and large institutions have $255M invested in Blackstone Strategic Credit 2027 Term Fund in 2016 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 21 increasing their positions, 18 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

17% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 18

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

0.53% less ownership

Funds ownership: 43.13% → 42.6% (-0.53%)

1% less capital invested

Capital invested by funds: $258M → $255M (-$2.76M)

13% less funds holding

Funds holding: 62 → 54 (-8)

57% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 14

Holders
54
Holders Change
-8
Holders Change %
-12.9%
% of All Funds
1.44%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.08%
New
6
Increased
21
Reduced
18
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LCM
Laurion Capital Management
New York
+$5.34M
2
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$2.67M
3
UBS Group
UBS Group
Switzerland
+$2.53M
4
VIA
Vident Investment Advisory
Georgia
+$2.16M
5
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
+$2.07M

Top Sellers

Rank Fund Capital Flow
1
Citigroup
Citigroup
New York
-$3.88M
2
FIMG
Financial & Investment Management Group
Michigan
-$2.69M
3
OHA
Oak Hill Advisors
New York
-$2.49M
4
Bank of America
Bank of America
North Carolina
-$2.44M
5
MIG
Mariner Investment Group
New York
-$1.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
AA
26
AQR Arbitrage
Connecticut
$1.33M -$1.63M -126,186 -56%
Stifel Financial
27
Stifel Financial
Missouri
$746K +$93.1K +7,206 +15%
GWM
28
Greenwich Wealth Management
Connecticut
$568K -$31.6K -2,449 -6%
HCMT
29
Highland Capital Management (Texas)
Texas
$545K – – –
COLIM
30
City of London Investment Management
United Kingdom
$534K +$506K +39,211 New
SCM
31
Summit Capital Management
Washington
$507K -$8.34K -646 -2%
LCM
32
Landscape Capital Management
New Jersey
$427K -$176K -13,662 -30%
HCM
33
Horrell Capital Management
Arkansas
$290K – – –
Royal Bank of Canada
34
Royal Bank of Canada
Ontario, Canada
$263K +$23.2K +1,800 +10%
RJA
35
Raymond James & Associates
Florida
$258K +$43K +3,326 +21%
SCM
36
SCS Capital Management
Massachusetts
$255K -$876K -67,808 -78%
ACP
37
Aviance Capital Partners
Florida
$250K +$237K +18,353 New
RCM
38
Robinson Capital Management
Michigan
$234K – – –
CAM
39
Cidel Asset Management
Ontario, Canada
$197K – – –
KSCM
40
Kamunting Street Capital Management
Florida
$170K – – –
TJHA
41
Thomas J. Herzfeld Advisors
Florida
$167K -$8.01K -620 -5%
CWM
42
Concert Wealth Management
California
$154K +$9.69K +750 +7%
LTFS
43
Ladenburg Thalmann Financial Services
Florida
$129K +$3.47K +269 +3%
CIA
44
Capital Investment Advisors
Georgia
$127K +$120K +9,300 New
MFS
45
MSI Financial Services
Massachusetts
$112K – – –
AIG
46
American International Group
New York
$106K -$19.2K -1,490 -16%
Northwestern Mutual Wealth Management
47
Northwestern Mutual Wealth Management
Wisconsin
$82K +$77.8K +6,025 New
Creative Planning
48
Creative Planning
Kansas
$66K -$7.65K -592 -11%
BCM
49
Blume Capital Management
California
$44K +$6.46K +500 +19%
BAM
50
Barrett Asset Management
New York
$17K +$16.1K +1,250 New
1
2
3

BGB Hedge Fund Activity: Q1 2016 in Review

54 of the 3,754 institutional investors tracked by Wall St. Rank reported a position in Blackstone Strategic Credit 2027 Term Fund (BGB) for Q1 2016, worth a combined $255M — down 1.1% from $258M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of BGB and 6 opened new positions — a net loss of 8 holders — while 18 trimmed existing stakes and 21 added.

The largest buyer was Laurion Capital Management, adding an estimated $5.34M. The largest seller was Citigroup, cutting an estimated $3.88M.

  • 54 institutional investors held Blackstone Strategic Credit 2027 Term Fund (BGB) as of Q1 2016, down from 62 in Q4 2015.
  • Funds reported $255M of Blackstone Strategic Credit 2027 Term Fund stock for Q1 2016, down 1.1% quarter-over-quarter.
  • 6 funds opened new Blackstone Strategic Credit 2027 Term Fund positions in Q1 2016 and 14 closed out, a net change of -8 holders.
  • The largest Blackstone Strategic Credit 2027 Term Fund buyer in Q1 2016 was Laurion Capital Management, an estimated $5.34M added.
  • The largest Blackstone Strategic Credit 2027 Term Fund seller in Q1 2016 was Citigroup, an estimated $3.88M sold.

Based on aggregated 13F filings for Q1 2016.