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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$26.7M |
| 2 |
OA
Oxbow Advisors
Austin,
Texas
|
+$11.2M |
| 3 |
PRCM
Pine River Capital Management
Minnetonka,
Minnesota
|
+$8.56M |
| 4 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
+$7.49M |
| 5 |
TAM
Third Avenue Management
New York
|
+$7.15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$14M |
| 2 |
AIM
Assured Investment Management
New York
|
-$5.22M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$4M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$2.31M |
| 5 |
1832 Asset Management
Toronto,
Ontario, Canada
|
-$1.25M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
101
Commonwealth Equity Services
Waltham,
Massachusetts
| – | -$135K | -10,316 | Closed |
|
|
TRCT
102
Tower Research Capital (TRC)
New York
| – | -$16K | -1,195 | Closed |
|
|
BIM
103
BlackRock Investment Management
Wilmington,
Delaware
| – | -$8K | -647 | Closed |
|
|
PSI
104
Pinnacle Summer Investments
Fairfax,
Virginia
| – | -$4K | -343 | Closed |
|
105
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$2K | -149 | Closed |
|
|
CFN
106
Cordasco Financial Network
Naples,
Florida
| – | +$345 | +27 | New |
|
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.