First Trust S&P REIT Index Fund
FRI
37 hedge funds and large institutions have $94.2M invested in First Trust S&P REIT Index Fund in 2013 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 7 increasing their positions, 21 reducing their positions, and 18 closing their positions.
9.79% more ownership
Funds ownership: 50.01% → 59.8% (+9.8%)
30% less funds holding
Funds holding: 53 → 37 (-16)
60% less capital invested
Capital invested by funds: $236M → $94.2M (-$142M)
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
67% less repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 21
83% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 18
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FHA
First Horizon Advisors
Memphis,
Tennessee
|
+$2.59M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$2.22M |
| 3 |
GA
Gateway Advisory
Westfield,
New Jersey
|
+$702K |
| 4 |
Janney Montgomery Scott
Philadelphia,
Pennsylvania
|
+$232K |
| 5 |
PI
Placemark Investments
Chicago,
Illinois
|
+$129K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$30.6M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$23.2M |
| 3 |
CS
Credit Suisse
Zurich,
Switzerland
|
-$13.8M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$11.1M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$10.3M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
SB
51
Suntrust Banks
Atlanta,
Georgia
| – | -$227K | -12,195 | Closed |
|
|
BFEC
52
Benjamin F. Edwards & Company
St. Louis,
Missouri
| – | -$46K | -2,473 | Closed |
|
53
Nomura Holdings
Tokyo,
Japan
| – | -$32K | -1,743 | Closed |
|
|
MFS
54
MSI Financial Services
Springfield,
Massachusetts
| – | -$12K | -623 | Closed |
|
|
GI
55
Gradient Investments
Arden Hills,
Minnesota
| – | -$1K | -52 | Closed |
|
FRI Hedge Fund Activity: Q3 2013 in Review
37 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in First Trust S&P REIT Index Fund (FRI) for Q3 2013, worth a combined $94.2M — down 60% from $236M a quarter earlier.
Sellers outnumbered buyers: 18 funds closed out of FRI and 3 opened new positions — a net loss of 15 holders — while 21 trimmed existing stakes and 7 added.
The largest buyer was First Horizon Advisors, opening a new position worth an estimated $2.59M. The largest seller was Morgan Stanley, cutting an estimated $30.6M.
- 37 institutional investors held First Trust S&P REIT Index Fund (FRI) as of Q3 2013, down from 53 in Q2 2013.
- Funds reported $94.2M of First Trust S&P REIT Index Fund stock for Q3 2013, down 60% quarter-over-quarter.
- 3 funds opened new First Trust S&P REIT Index Fund positions in Q3 2013 and 18 closed out, a net change of -15 holders.
- The largest First Trust S&P REIT Index Fund buyer in Q3 2013 was First Horizon Advisors, an estimated $2.59M added.
- The largest First Trust S&P REIT Index Fund seller in Q3 2013 was Morgan Stanley, an estimated $30.6M sold.
Based on aggregated 13F filings for Q3 2013.