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BRW

Saba Capital Income & Opportunities Fund
BRW

85 hedge funds and large institutions have $196M invested in Saba Capital Income & Opportunities Fund in 2015 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 21 increasing their positions, 26 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

11% more capital invested

Capital invested by funds: $176M → $196M (+$19.7M)

2.29% more ownership

Funds ownership: 10.76% → 13.05% (+2.3%)

6% less funds holding

Funds holding: 90 → 85 (-5)

19% less repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 26

27% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 11

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
85
Holders Change
-5
Holders Change %
-5.56%
% of All Funds
2.37%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
8
Increased
21
Reduced
26
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
+$19.5M
2
Invesco
Invesco
Georgia
+$19.2M
3
KKRC
Kohlberg Kravis Roberts & Co
New York
+$2.79M
4
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
+$1.79M
5
1832 Asset Management
1832 Asset Management
Ontario, Canada
+$1.72M

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$2.46M
2
Morgan Stanley
Morgan Stanley
New York
-$1.66M
3
NCM
Newgate Capital Management
Connecticut
-$1.6M
4
HK
Horizon Kinetics
New York
-$701K
5
Bank of America
Bank of America
North Carolina
-$623K
Name Holding Trade Value Shares
Change 		Change in
Stake
HIP
51
Hatteras Investment Partners
North Carolina
$107K +$112K +10,623 New
JIP
52
Jaffetilchin Investment Partners
Florida
$106K +$74 +7 +0.1%
EVC
53
Eidelman Virant Capital
Missouri
$101K – – –
WA
54
WealthTrust Axiom
Pennsylvania
$90K – – –
Neuberger Berman Group
55
Neuberger Berman Group
New York
$88K – – –
WT
56
Whittier Trust
California
$88K +$17.4K +1,650 +24%
Ameriprise
57
Ameriprise
Minnesota
$87K +$1.05K +100 +1%
IC
58
Iconiq Capital
California
$86K – – –
IP
59
Investment Partners
Ohio
$85K – – –
CAN
60
Cetera Advisor Networks
California
$83K -$6.87K -653 -7%
HighTower Advisors
61
HighTower Advisors
Illinois
$80K +$1.99K +189 +2%
Bank of New York Mellon
62
Bank of New York Mellon
New York
$70K -$216K -20,511 -75%
BW
63
Bison Wealth
Georgia
$68K +$14.1K +1,337 +25%
VKH
64
Virtu KCG Holdings
New York
$58K +$59.9K +5,689 New
KA
65
Kovack Advisors
Florida
$51K – – –
GI
66
Gradient Investments
Minnesota
$50K – – –
SRC
67
Shufro Rose & Co
New York
$50K – – –
Northwestern Mutual Wealth Management
68
Northwestern Mutual Wealth Management
Wisconsin
$30K +$484 +46 +2%
Bank of Montreal
69
Bank of Montreal
Ontario, Canada
$26K +$23.8K +2,262 +820%
Fifth Third Bancorp
70
Fifth Third Bancorp
Ohio
$23K +$13.2K +1,250 +125%
SSB
71
Sandy Spring Bank
Maryland
$22K – – –
SEI Investments
72
SEI Investments
Pennsylvania
$21K – – –
BCM
73
Blume Capital Management
California
$20K – – –
QAM
74
QCI Asset Management
New York
$19K – – –
CAL
75
Capital Advisors Ltd
Ohio
$16K – – –
1 2
3
4

BRW Hedge Fund Activity: Q3 2015 in Review

85 of the 3,582 institutional investors tracked by Wall St. Rank reported a position in Saba Capital Income & Opportunities Fund (BRW) for Q3 2015, worth a combined $196M — up 11% from $176M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of BRW and 8 opened new positions — a net loss of 3 holders — while 26 trimmed existing stakes and 21 added.

The largest buyer was Baillie Gifford & Co, adding an estimated $19.5M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $2.46M sold.

  • 85 institutional investors held Saba Capital Income & Opportunities Fund (BRW) as of Q3 2015, down from 90 in Q2 2015.
  • Funds reported $196M of Saba Capital Income & Opportunities Fund stock for Q3 2015, up 11% quarter-over-quarter.
  • 8 funds opened new Saba Capital Income & Opportunities Fund positions in Q3 2015 and 11 closed out, a net change of -3 holders.
  • The largest Saba Capital Income & Opportunities Fund buyer in Q3 2015 was Baillie Gifford & Co, an estimated $19.5M added.
  • The largest Saba Capital Income & Opportunities Fund seller in Q3 2015 was Rivernorth Capital Management, an estimated $2.46M sold.

Based on aggregated 13F filings for Q3 2015.