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CHNGU

Change Healthcare Inc. Tangible Equity Units
CHNGU

Delisted

CHNGU was delisted on the 29th of June, 2022.

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27 hedge funds and large institutions have $196M invested in Change Healthcare Inc. Tangible Equity Units in 2020 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 8 increasing their positions, 7 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

14% more repeat investments, than reductions

Existing positions increased: 8 | Existing positions reduced: 7

18% less funds holding

Funds holding: 33 → 27 (-6)

43% less capital invested

Capital invested by funds: $343M → $196M (-$147M)

60% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 10

Holders
27
Holders Change
-6
Holders Change %
-18.18%
% of All Funds
0.59%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
8
Reduced
7
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
+$16M
2
ACM
Advent Capital Management
New York
+$15.4M
3
Allianz Asset Management
Allianz Asset Management
Germany
+$14.8M
4
PI
Putnam Investments
Massachusetts
+$5.29M
5
SG Americas Securities
SG Americas Securities
New York
+$3.97M

Top Sellers

Rank Fund Capital Flow
1
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$39.4M
2
WAM
Wolverine Asset Management
Illinois
-$12.4M
3
Janus Henderson Group
Janus Henderson Group
United Kingdom
-$12.1M
4
PC
Polar Capital
United Kingdom
-$10.6M
5
Bank of America
Bank of America
North Carolina
-$5.49M
Name Holding Trade Value Shares
Change 		Change in
Stake
Manulife (Manufacturers Life Insurance)
1
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$39.7M +$16M +302,609 +45%
Franklin Resources
2
Franklin Resources
California
$22M – – –
AA
3
AQR Arbitrage
Connecticut
$19.4M +$106 +2 +0%
PC
4
Polar Capital
United Kingdom
$18.1M -$10.6M -200,000 -31%
Ameriprise
5
Ameriprise
Minnesota
$17.4M +$1.85M +35,000 +9%
ACM
6
Advent Capital Management
New York
$16.2M +$15.4M +292,048 +326%
Allianz Asset Management
7
Allianz Asset Management
Germany
$11.4M +$14.8M +279,440 New
BlackRock
8
BlackRock
New York
$10.7M -$174K -3,296 -1%
Fidelity Investments
9
Fidelity Investments
Massachusetts
$7.76M +$2.66M +50,300 +38%
D.E. Shaw & Co
10
D.E. Shaw & Co
New York
$6.55M +$3.44M +64,995 +71%
SIM
11
SSI Investment Management
California
$5.33M -$1.53M -28,852 -18%
Wells Fargo
12
Wells Fargo
California
$4.71M – – –
PI
13
Putnam Investments
Massachusetts
$4.07M +$5.29M +100,000 New
SG Americas Securities
14
SG Americas Securities
New York
$3.05M +$3.97M +75,000 New
Wellington Management Group
15
Wellington Management Group
Massachusetts
$2.1M +$37K +700 +1%
CAC
16
Cowen and Company
New York
$1.8M -$1.27M -24,079 -37%
PCM
17
Palisade Capital Management
New Jersey
$1.48M – – –
Morgan Stanley
18
Morgan Stanley
New York
$959K -$5.39M -101,840 -83%
Mirae Asset Global Investments
19
Mirae Asset Global Investments
South Korea
$957K +$122K +2,302 +11%
Bank of America
20
Bank of America
North Carolina
$629K -$5.49M -103,778 -87%
CS
21
Credit Suisse
Switzerland
$468K – – –
CHAM
22
Clear Harbor Asset Management
Connecticut
$345K – – –
CIM
23
Cowen Investment Management
New York
$238K – – –
Invesco
24
Invesco
Georgia
$203K – – –
Millennium Management
25
Millennium Management
New York
$202K +$256K +4,836 New
1
2

CHNGU Hedge Fund Activity: Q1 2020 in Review

27 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Change Healthcare Inc. Tangible Equity Units (CHNGU) for Q1 2020, worth a combined $196M — down 43% from $343M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of CHNGU and 4 opened new positions — a net loss of 6 holders — while 7 trimmed existing stakes and 8 added.

The largest buyer was Manulife (Manufacturers Life Insurance), adding an estimated $16M. The largest seller was Parallax Volatility Advisers, exiting entirely with an estimated $39.4M sold.

  • 27 institutional investors held Change Healthcare Inc. Tangible Equity Units (CHNGU) as of Q1 2020, down from 33 in Q4 2019.
  • Funds reported $196M of Change Healthcare Inc. Tangible Equity Units stock for Q1 2020, down 43% quarter-over-quarter.
  • 4 funds opened new Change Healthcare Inc. Tangible Equity Units positions in Q1 2020 and 10 closed out, a net change of -6 holders.
  • The largest Change Healthcare Inc. Tangible Equity Units buyer in Q1 2020 was Manulife (Manufacturers Life Insurance), an estimated $16M added.
  • The largest Change Healthcare Inc. Tangible Equity Units seller in Q1 2020 was Parallax Volatility Advisers, an estimated $39.4M sold.

Based on aggregated 13F filings for Q1 2020.