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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$21.1M |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$11.8M |
| 3 |
CBA
Coastal Bridge Advisors
Westport,
Connecticut
|
+$6.58M |
| 4 |
MC
Matisse Capital
Portland,
Oregon
|
+$3.99M |
| 5 |
Goldman Sachs
New York
|
+$1.96M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$18.9M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$3.62M |
| 3 |
FM
Family Management
New York
|
-$1.66M |
| 4 |
Millennium Management
New York
|
-$1.44M |
| 5 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
-$1.4M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
FHA
76
Flagship Harbor Advisors
Boston,
Massachusetts
| $4K | +$5.8K | +432 | New |
|
|
GI
77
Gradient Investments
Arden Hills,
Minnesota
| $3K | – | – | – |
|
|
78
Millennium Management
New York
| – | -$1.44M | -100,413 | Closed |
|
|
FIA
79
FNY Investment Advisers
New York
| – | -$335K | -23,322 | Closed |
|
80
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$194K | -13,480 | Closed |
|
|
BRWA
81
B. Riley Wealth Advisors
Boca Raton,
Florida
| – | -$168K | -11,654 | Closed |
|
|
OMC
82
Old Mission Capital
Chicago,
Illinois
| – | -$164K | -11,400 | Closed |
|
|
SWM
83
SeaCrest Wealth Management
Purchase,
New York
| – | -$158K | -10,985 | Closed |
|
|
BWP
84
BSW Wealth Partners
Boulder,
Colorado
| – | -$144K | -10,000 | Closed |
|
|
CG
85
Cutler Group
San Francisco,
California
| – | -$28K | -2,000 | Closed |
|
|
SW
86
SVB Wealth
Boston,
Massachusetts
| – | -$29K | -2,000 | Closed |
|
|
TRCT
87
Tower Research Capital (TRC)
New York
| – | -$8K | -588 | Closed |
|
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.