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BlackRock Credit Allocation Income Trust
BTZ

91 hedge funds and large institutions have $447M invested in BlackRock Credit Allocation Income Trust in 2013 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 33 increasing their positions, 24 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 24

6% more capital invested

Capital invested by funds: $420M → $447M (+$27.2M)

1.76% more ownership

Funds ownership: 29.9% → 31.66% (+1.8%)

0% more funds holding in top 10

Funds holding in top 10: 5 → 5 (0)

2% less funds holding

Funds holding: 93 → 91 (-2)

13% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 16

Holders
91
Holders Change
-2
Holders Change %
-2.15%
% of All Funds
2.95%
Holding in Top 10
5
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.16%
New
14
Increased
33
Reduced
24
Closed
16
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
SCM
Saba Capital Management
New York
+$12.9M
2
TAM
Third Avenue Management
New York
+$5.63M
3
AIM
Assured Investment Management
New York
+$5.03M
4
Invesco
Invesco
Georgia
+$4.92M
5
Wells Fargo
Wells Fargo
California
+$4.2M

Top Sellers

1
SIA
Sit Investment Associates
Minnesota
-$5.99M
2
LIM
Longfellow Investment Management
Massachusetts
-$4.63M
3
SG Americas Securities
SG Americas Securities
New York
-$4.2M
4
CA
Commerzbank Aktiengesellschaft
Germany
-$4.16M
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$1.71M
Name Holding Trade Value Shares
Change 		Change in
Stake
KIM
26
Karpus Investment Management
New York
$2.86M -$275K -21,832 -9%
TJHA
27
Thomas J. Herzfeld Advisors
Florida
$2.35M +$39K +3,099 +2%
FAAS
28
First Allied Advisory Services
California
$1.51M -$242K -19,205 -14%
JG
29
Jefferies Group
New York
$1.46M +$1.41M +112,000 New
DIS
30
Diversified Investment Strategies
Louisiana
$1.25M – – –
GEM
31
Global Endowment Management
North Carolina
$1.17M +$293K +23,300 +35%
Goldman Sachs
32
Goldman Sachs
New York
$973K +$940K +74,650 New
WI
33
Western Investment
Utah
$933K +$542K +43,092 +151%
RJA
34
Raymond James & Associates
Florida
$910K +$86K +6,830 +11%
PNC
35
Park National Corp
Ohio
$907K -$19.8K -1,575 -2%
Geode Capital Management
36
Geode Capital Management
Massachusetts
$875K – – –
DA
37
Doliver Advisors
Texas
$823K -$174K -13,854 -18%
VFS
38
VSR Financial Services
Kansas
$780K +$288K +22,880 +62%
CS
39
Credit Suisse
Switzerland
$752K -$109K -8,656 -13%
SI
40
Stephens Inc
Arkansas
$707K +$390 +31 +0.1%
Barclays
41
Barclays
United Kingdom
$689K +$662K +52,579 +13,145%
First Trust Advisors
42
First Trust Advisors
Illinois
$640K -$108K -8,603 -15%
ST
43
Sentinel Trust
Texas
$612K +$591K +46,950 New
IT
44
Independence Trust
Tennessee
$591K – – –
PMG
45
ProVise Management Group
Florida
$570K -$12.6K -1,000 -2%
FFA
46
First Foundation Advisors
California
$534K +$348K +27,689 +209%
HighTower Advisors
47
HighTower Advisors
Illinois
$498K +$46.7K +3,708 +11%
CP
48
Camelot Portfolios
Ohio
$482K +$24K +1,903 +5%
US Bancorp
49
US Bancorp
Minnesota
$473K +$15.1K +1,199 +3%
FAT
50
First American Trust
California
$407K +$503 +40 +0.1%
1
2
3 4 5

BTZ Hedge Fund Activity: Q3 2013 in Review

91 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in BlackRock Credit Allocation Income Trust (BTZ) for Q3 2013, worth a combined $447M — up 6.5% from $420M a quarter earlier.

Sellers outnumbered buyers: 16 funds closed out of BTZ and 14 opened new positions — a net loss of 2 holders — while 24 trimmed existing stakes and 33 added.

The largest buyer was Saba Capital Management, opening a new position worth an estimated $12.9M. The largest seller was Sit Investment Associates, cutting an estimated $5.99M.

  • 91 institutional investors held BlackRock Credit Allocation Income Trust (BTZ) as of Q3 2013, down from 93 in Q2 2013.
  • Funds reported $447M of BlackRock Credit Allocation Income Trust stock for Q3 2013, up 6.5% quarter-over-quarter.
  • 14 funds opened new BlackRock Credit Allocation Income Trust positions in Q3 2013 and 16 closed out, a net change of -2 holders.
  • The largest BlackRock Credit Allocation Income Trust buyer in Q3 2013 was Saba Capital Management, an estimated $12.9M added.
  • The largest BlackRock Credit Allocation Income Trust seller in Q3 2013 was Sit Investment Associates, an estimated $5.99M sold.

Based on aggregated 13F filings for Q3 2013.