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BGB

Blackstone Strategic Credit 2027 Term Fund
BGB

77 hedge funds and large institutions have $193M invested in Blackstone Strategic Credit 2027 Term Fund in 2020 Q1 according to their latest regulatory filings, with 26 funds opening new positions, 15 increasing their positions, 25 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

160% more first-time investments, than exits

New positions opened: 26 | Existing positions closed: 10

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

22% more funds holding

Funds holding: 63 → 77 (+14)

3.3% more ownership

Funds ownership: 38.18% → 41.48% (+3.3%)

22% less capital invested

Capital invested by funds: $246M → $193M (-$53.2M)

40% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 25

Holders
77
Holders Change
+14
Holders Change %
+22.22%
% of All Funds
1.7%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.04%
New
26
Increased
15
Reduced
25
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$21.1M
2
GC
Guggenheim Capital
Illinois
+$11.8M
3
CBA
Coastal Bridge Advisors
Connecticut
+$6.58M
4
MC
Matisse Capital
Oregon
+$3.99M
5
Goldman Sachs
Goldman Sachs
New York
+$1.96M

Top Sellers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
-$18.9M
2
Bank of America
Bank of America
North Carolina
-$3.62M
3
FM
Family Management
New York
-$1.66M
4
Millennium Management
Millennium Management
New York
-$1.44M
5
RJFSA
Raymond James Financial Services Advisors
Florida
-$1.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
MAFM
26
Mid Atlantic Financial Management
Pennsylvania
$845K +$27.3K +2,033 +3%
SPIA
27
Steward Partners Investment Advisory
New York
$829K +$196K +14,611 +22%
SAM
28
Selway Asset Management
$796K -$26.9K -2,000 -3%
RJFSA
29
Raymond James Financial Services Advisors
Florida
$775K -$1.4M -104,371 -58%
CC
30
Claybrook Capital
Massachusetts
$670K -$1.24M -92,320 -59%
CRC
31
Curi RMB Capital
Illinois
$538K +$695K +51,695 New
NCM
32
Next Capital Management
New York
$519K -$836K -62,181 -56%
AAM
33
Advisors Asset Management
Colorado
$488K -$18.7K -1,392 -3%
WAM
34
Wolverine Asset Management
Illinois
$464K +$599K +44,611 New
DA
35
Detalus Advisors
Missouri
$438K – – –
AA
36
AQR Arbitrage
Connecticut
$428K +$552K +41,080 New
SFWA
37
Summit Financial Wealth Advisors
Louisiana
$407K -$349K -25,950 -39%
CAM
38
Cidel Asset Management
Ontario, Canada
$349K +$450K +33,483 New
GWM
39
Greenwich Wealth Management
Connecticut
$340K -$218K -16,240 -33%
Citadel Advisors
40
Citadel Advisors
Florida
$295K +$380K +28,298 New
Truist Financial
41
Truist Financial
North Carolina
$290K -$110K -8,158 -23%
RIL
42
Rothschild Investment LLC
Illinois
$289K +$373K +27,725 New
Northwestern Mutual Wealth Management
43
Northwestern Mutual Wealth Management
Wisconsin
$219K +$94.8K +7,053 +50%
Fifth Third Bancorp
44
Fifth Third Bancorp
Ohio
$208K +$269K +20,000 New
VWM
45
Vigilare Wealth Management
Arizona
$194K -$110K -8,200 -31%
GA
46
Greytown Advisors
Florida
$181K +$234K +17,420 New
D.E. Shaw & Co
47
D.E. Shaw & Co
New York
$156K +$202K +15,000 New
RCM
48
Robinson Capital Management
Michigan
$155K +$201K +14,937 New
OC
49
Oppenheimer & Co
New York
$145K +$38.7K +2,877 +26%
BRWM
50
B. Riley Wealth Management
Tennessee
$144K +$185K +13,800 New
1
2
3 4

BGB Hedge Fund Activity: Q1 2020 in Review

77 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in Blackstone Strategic Credit 2027 Term Fund (BGB) for Q1 2020, worth a combined $193M — down 22% from $246M a quarter earlier.

Buyers outnumbered sellers: 26 funds opened new BGB positions and 10 closed out — a net gain of 16 holders — while 15 added to existing stakes and 25 trimmed.

The largest buyer was Saba Capital Management, opening a new position worth an estimated $21.1M. The largest seller was UBS Group, cutting an estimated $18.9M.

  • 77 institutional investors held Blackstone Strategic Credit 2027 Term Fund (BGB) as of Q1 2020, up from 63 in Q4 2019.
  • Funds reported $193M of Blackstone Strategic Credit 2027 Term Fund stock for Q1 2020, down 22% quarter-over-quarter.
  • 26 funds opened new Blackstone Strategic Credit 2027 Term Fund positions in Q1 2020 and 10 closed out, a net change of +16 holders.
  • The largest Blackstone Strategic Credit 2027 Term Fund buyer in Q1 2020 was Saba Capital Management, an estimated $21.1M added.
  • The largest Blackstone Strategic Credit 2027 Term Fund seller in Q1 2020 was UBS Group, an estimated $18.9M sold.

Based on aggregated 13F filings for Q1 2020.