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BlackRock Credit Allocation Income Trust
BTZ

92 hedge funds and large institutions have $497M invested in BlackRock Credit Allocation Income Trust in 2013 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 26 increasing their positions, 37 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more funds holding in top 10

Funds holding in top 10: 5 → 6 (+1)

14% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 14

11% more capital invested

Capital invested by funds: $447M → $497M (+$50M)

3.83% more ownership

Funds ownership: 31.66% → 35.49% (+3.8%)

1% more funds holding

Funds holding: 91 → 92 (+1)

30% less repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 37

Holders
92
Holders Change
+1
Holders Change %
+1.1%
% of All Funds
2.67%
Holding in Top 10
6
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+20%
% of All Funds
0.17%
New
16
Increased
26
Reduced
37
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
SCM
Saba Capital Management
New York
+$26.7M
2
OA
Oxbow Advisors
Texas
+$11.2M
3
PRCM
Pine River Capital Management
Minnesota
+$8.56M
4
1CP
1607 Capital Partners
Virginia
+$7.49M
5
TAM
Third Avenue Management
New York
+$7.15M

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$14M
2
AIM
Assured Investment Management
New York
-$5.22M
3
Wells Fargo
Wells Fargo
California
-$4M
4
SIA
Sit Investment Associates
Minnesota
-$2.31M
5
1832 Asset Management
1832 Asset Management
Ontario, Canada
-$1.25M
Name Holding Trade Value Shares
Change 		Change in
Stake
ASN
76
Advisory Services Network
Georgia
$26K +$25.6K +2,000 New
MFS
77
MSI Financial Services
Massachusetts
$22K -$6.35K -496 -23%
LTFS
78
Ladenburg Thalmann Financial Services
Florida
$22K – – –
BC
79
Bartlett & Co
Ohio
$20K – – –
Fifth Third Bancorp
80
Fifth Third Bancorp
Ohio
$16K – – –
HF
81
Hoxton Financial
West Virginia
$16K – – –
HPBT
82
High Point Bank & Trust
North Carolina
$13K – – –
Bank of Montreal
83
Bank of Montreal
Ontario, Canada
$13K +$12.8K +1,000 New
Creative Planning
84
Creative Planning
Kansas
$11K -$89.7K -7,008 -89%
PSUF
85
People's United Financial
Connecticut
$9K – – –
PWAG
86
Polaris Wealth Advisory Group
California
$9K +$8.99K +703 New
WEC
87
Winslow Evans & Crocker
Massachusetts
$8K +$8.19K +640 New
BFEC
88
Benjamin F. Edwards & Company
Missouri
$7K +$6.79K +531 New
M
89
MOTCO
Texas
$6K – – –
MRCM
90
M&R Capital Management
New Jersey
$4.28K +$190K +14,875 +5%
LFR
91
Lehman Financial Resources
Pennsylvania
$4K – – –
HNB
92
Huntington National Bank
Ohio
$1K – – –
AIM
93
Assured Investment Management
New York
– -$5.22M -400,000 Closed
ST
94
Sentinel Trust
Texas
– -$612K -46,950 Closed
VAM
95
Visium Asset Management
New York
– -$404K -31,001 Closed
Comerica Bank
96
Comerica Bank
Texas
– -$178K -13,635 Closed
ICAS
97
Investors Capital Advisory Services
Massachusetts
– -$167K -12,837 Closed
CA
98
Cornerstone Advisors
North Carolina
– -$164K -12,613 Closed
WS
99
Wedbush Securities
California
– -$160K -12,240 Closed
CHAM
100
Clear Harbor Asset Management
Connecticut
– -$135K -10,358 Closed
1 2 3
4
5

BTZ Hedge Fund Activity: Q4 2013 in Review

92 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in BlackRock Credit Allocation Income Trust (BTZ) for Q4 2013, worth a combined $497M — up 11% from $447M a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new BTZ positions and 14 closed out — a net gain of 2 holders — while 26 added to existing stakes and 37 trimmed.

The largest buyer was Saba Capital Management, adding an estimated $26.7M. The largest seller was Morgan Stanley, cutting an estimated $14M.

  • 92 institutional investors held BlackRock Credit Allocation Income Trust (BTZ) as of Q4 2013, up from 91 in Q3 2013.
  • Funds reported $497M of BlackRock Credit Allocation Income Trust stock for Q4 2013, up 11% quarter-over-quarter.
  • 16 funds opened new BlackRock Credit Allocation Income Trust positions in Q4 2013 and 14 closed out, a net change of +2 holders.
  • The largest BlackRock Credit Allocation Income Trust buyer in Q4 2013 was Saba Capital Management, an estimated $26.7M added.
  • The largest BlackRock Credit Allocation Income Trust seller in Q4 2013 was Morgan Stanley, an estimated $14M sold.

Based on aggregated 13F filings for Q4 2013.