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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
Citigroup
76
Citigroup
New York
$56K -$542K -43,052 -91%
DADC
77
D.A. Davidson & Co
Montana
$52K – – –
RFA
78
Reilly Financial Advisors
California
$39K – – –
MFS
79
MSI Financial Services
Massachusetts
$28K – – –
LTFS
80
Ladenburg Thalmann Financial Services
Florida
$22K -$1.26K -100 -6%
BC
81
Bartlett & Co
Ohio
$20K – – –
Fifth Third Bancorp
82
Fifth Third Bancorp
Ohio
$16K – – –
HF
83
Hoxton Financial
West Virginia
$16K – – –
TRCT
84
Tower Research Capital (TRC)
New York
$16K +$4.92K +391 +49%
HPBT
85
High Point Bank & Trust
North Carolina
$13K – – –
PSUF
86
People's United Financial
Connecticut
$9K – – –
BIM
87
BlackRock Investment Management
Delaware
$8K +$8.14K +647 New
M
88
MOTCO
Texas
$6K – – –
LFR
89
Lehman Financial Resources
Pennsylvania
$4K – – –
PSI
90
Pinnacle Summer Investments
Virginia
$4K – – –
Northwestern Mutual Wealth Management
91
Northwestern Mutual Wealth Management
Wisconsin
$2K +$1.88K +149 New
HNB
92
Huntington National Bank
Ohio
$1K – – –
LIM
93
Longfellow Investment Management
Massachusetts
– -$4.63M -356,369 Closed
SG Americas Securities
94
SG Americas Securities
New York
– -$4.2M -323,514 Closed
CA
95
Commerzbank Aktiengesellschaft
Germany
– -$4.16M -320,649 Closed
YMRC
96
Yorktown Management & Research Company
Virginia
– -$906K -69,790 Closed
RJFSA
97
Raymond James Financial Services Advisors
Florida
– -$748K -57,653 Closed
SKK
98
Shepherd Kaplan Krochuk
Massachusetts
– -$505K -38,913 Closed
CHJWM
99
Carlton Hofferkamp & Jenks Wealth Management
Texas
– -$443K -34,150 Closed
CPA
100
Cowen Prime Advisors
New York
– -$337K -26,000 Closed
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.