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BGB

Blackstone Strategic Credit 2027 Term Fund
BGB

65 hedge funds and large institutions have $307M invested in Blackstone Strategic Credit 2027 Term Fund in 2017 Q2 according to their latest regulatory filings, with 7 funds opening new positions, 24 increasing their positions, 17 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

41% more repeat investments, than reductions

Existing positions increased: 24 | Existing positions reduced: 17

6% more capital invested

Capital invested by funds: $290M → $307M (+$17.6M)

2.28% more ownership

Funds ownership: 40.93% → 43.21% (+2.3%)

4% less funds holding

Funds holding: 68 → 65 (-3)

30% less first-time investments, than exits

New positions opened: 7 | Existing positions closed: 10

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

Holders
65
Holders Change
-3
Holders Change %
-4.41%
% of All Funds
1.62%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.05%
New
7
Increased
24
Reduced
17
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PPA
Parametric Portfolio Associates
Washington
+$11.4M
2
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$3.33M
3
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
+$3.21M
4
Bank of America
Bank of America
North Carolina
+$2.7M
5
CBA
Coastal Bridge Advisors
Connecticut
+$2.15M

Top Sellers

Rank Fund Capital Flow
1
Ameriprise
Ameriprise
Minnesota
-$2.43M
2
Bessemer Group
Bessemer Group
New Jersey
-$2.14M
3
RJA
Raymond James & Associates
Florida
-$2.06M
4
Wells Fargo
Wells Fargo
California
-$1.94M
5
PAIM
Punch & Associates Investment Management
Minnesota
-$1.73M
Name Holding Trade Value Shares
Change 		Change in
Stake
Stifel Financial
26
Stifel Financial
Missouri
$1.22M +$10.8K +671 +0.9%
RVPG
27
Relative Value Partners Group
$1.19M – – –
BTS
28
BB&T Securities
Virginia
$1.12M +$281K +17,418 +33%
NMC
29
Nine Masts Capital
Hong Kong
$1.05M +$1.07M +66,300 New
WS
30
Wela Strategies
Georgia
$893K +$31.2K +1,934 +4%
AMH
31
Apollo Management Holdings
New York
$751K – – –
HCMT
32
Highland Capital Management (Texas)
Texas
$637K – – –
COLIM
33
City of London Investment Management
United Kingdom
$625K – – –
GWM
34
Greenwich Wealth Management
Connecticut
$622K -$2.74K -170 -0.4%
Citigroup
35
Citigroup
New York
$600K -$407K -25,239 -40%
AWA
36
Arete Wealth Advisors
Illinois
$596K +$603K +37,449 New
LTFS
37
Ladenburg Thalmann Financial Services
Florida
$516K +$212K +13,150 +68%
ACP
38
Aviance Capital Partners
Florida
$509K +$15.6K +969 +3%
SG Americas Securities
39
SG Americas Securities
New York
$505K +$511K +31,706 New
FIMG
40
Financial & Investment Management Group
Michigan
$441K -$709K -44,035 -61%
CAM
41
Cidel Asset Management
Ontario, Canada
$366K – – –
SKK
42
Shepherd Kaplan Krochuk
Massachusetts
$336K – – –
WI
43
Wintrust Investments
Illinois
$310K -$693 -43 -0.2%
LPL Financial
44
LPL Financial
California
$297K -$1.27M -79,092 -81%
PFPT
45
Pinnacle Financial Partners (Tennessee)
Tennessee
$269K – – –
AG
46
Advisor Group
Arizona
$267K -$5.77K -358 -2%
Millennium Management
47
Millennium Management
New York
$246K -$361K -22,426 -59%
AM
48
Ares Management
California
$242K – – –
SFWA
49
Summit Financial Wealth Advisors
Louisiana
$232K +$66.1K +4,100 +39%
DS
50
DRW Securities
Illinois
$218K -$53.2K -3,300 -19%
1
2
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BGB Hedge Fund Activity: Q2 2017 in Review

65 of the 4,012 institutional investors tracked by Wall St. Rank reported a position in Blackstone Strategic Credit 2027 Term Fund (BGB) for Q2 2017, worth a combined $307M — up 6.1% from $290M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of BGB and 7 opened new positions — a net loss of 3 holders — while 17 trimmed existing stakes and 24 added.

The largest buyer was Parametric Portfolio Associates, opening a new position worth an estimated $11.4M. The largest seller was Ameriprise, exiting entirely with an estimated $2.43M sold.

  • 65 institutional investors held Blackstone Strategic Credit 2027 Term Fund (BGB) as of Q2 2017, down from 68 in Q1 2017.
  • Funds reported $307M of Blackstone Strategic Credit 2027 Term Fund stock for Q2 2017, up 6.1% quarter-over-quarter.
  • 7 funds opened new Blackstone Strategic Credit 2027 Term Fund positions in Q2 2017 and 10 closed out, a net change of -3 holders.
  • The largest Blackstone Strategic Credit 2027 Term Fund buyer in Q2 2017 was Parametric Portfolio Associates, an estimated $11.4M added.
  • The largest Blackstone Strategic Credit 2027 Term Fund seller in Q2 2017 was Ameriprise, an estimated $2.43M sold.

Based on aggregated 13F filings for Q2 2017.