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FTF

Franklin Limited Duration Income Trust
FTF

51 hedge funds and large institutions have $96.5M invested in Franklin Limited Duration Income Trust in 2017 Q1 according to their latest regulatory filings, with 13 funds opening new positions, 15 increasing their positions, 18 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

63% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 8

9% more funds holding

Funds holding: 47 → 51 (+4)

15.64% less ownership

Funds ownership: 45.96% → 30.31% (-16%)

17% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 18

35% less capital invested

Capital invested by funds: $149M → $96.5M (-$52M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
51
Holders Change
+4
Holders Change %
+8.51%
% of All Funds
1.27%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
13
Increased
15
Reduced
18
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LCM
Laurion Capital Management
New York
+$4.89M
2
Ameriprise
Ameriprise
Minnesota
+$1.28M
3
Morgan Stanley
Morgan Stanley
New York
+$1.15M
4
Cohen & Steers
Cohen & Steers
New York
+$849K
5
Kovitz Investment Group Partners
Kovitz Investment Group Partners
Illinois
+$828K

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$28M
2
SIA
Sit Investment Associates
Minnesota
-$14.4M
3
RCM
Rivernorth Capital Management
Florida
-$10.5M
4
IA
Icon Advisers
Colorado
-$6.17M
5
1CP
1607 Capital Partners
Virginia
-$2.11M
Name Holding Trade Value Shares
Change 		Change in
Stake
TJHA
26
Thomas J. Herzfeld Advisors
Florida
$343K +$346K +28,651 New
UBS Group
27
UBS Group
Switzerland
$325K +$134K +11,091 +69%
CIA
28
Capital Investment Advisors
Georgia
$319K – – –
IA
29
IFP Advisors
Florida
$296K -$4.17K -345 -1%
SFS
30
Sowell Financial Services
Arkansas
$291K +$294K +24,317 New
Susquehanna International Group
31
Susquehanna International Group
Pennsylvania
$290K +$293K +24,213 New
Cambridge Investment Research Advisors
32
Cambridge Investment Research Advisors
Iowa
$237K -$27.4K -2,269 -10%
Koshinski Asset Management
33
Koshinski Asset Management
Illinois
$236K +$238K +19,705 New
Royal Bank of Canada
34
Royal Bank of Canada
Ontario, Canada
$206K -$17.5K -1,448 -8%
FAAS
35
First Allied Advisory Services
California
$190K -$54.2K -4,481 -22%
Millennium Management
36
Millennium Management
New York
$188K +$190K +15,710 New
Stifel Financial
37
Stifel Financial
Missouri
$152K -$21.2K -1,757 -12%
SG Americas Securities
38
SG Americas Securities
New York
$133K +$135K +11,151 New
TFCP
39
Twin Focus Capital Partners
Massachusetts
$132K – – –
AG
40
Advisor Group
Arizona
$129K -$3.57K -295 -3%
CRC
41
Curi RMB Capital
Illinois
$126K +$127K +10,508 New
OC
42
Oppenheimer & Co
New York
$121K -$51.4K -4,250 -30%
Bank of Montreal
43
Bank of Montreal
Ontario, Canada
$99K -$9.4K -778 -9%
Fifth Third Bancorp
44
Fifth Third Bancorp
Ohio
$38K – – –
PFSC
45
Peoples Financial Services Corp
Pennsylvania
$36K +$36.3K +3,000 New
Creative Planning
46
Creative Planning
Kansas
$31K – – –
PNC Financial Services Group
47
PNC Financial Services Group
Pennsylvania
$25K +$24.7K +2,044 +2,463%
GWM
48
Geneos Wealth Management
Colorado
$17K +$230 +19 +1%
Carson Wealth (CWM LLC)
49
Carson Wealth (CWM LLC)
Nebraska
$11K +$11.5K +948 New
WAM
50
Wealthspire Advisors (Maryland)
Maryland
$6K +$2.01K +166 +49%
1
2
3

FTF Hedge Fund Activity: Q1 2017 in Review

51 of the 4,017 institutional investors tracked by Wall St. Rank reported a position in Franklin Limited Duration Income Trust (FTF) for Q1 2017, worth a combined $96.5M — down 35% from $149M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new FTF positions and 8 closed out — a net gain of 5 holders — while 15 added to existing stakes and 18 trimmed.

The largest buyer was Laurion Capital Management, adding an estimated $4.89M. The largest seller was Saba Capital Management, cutting an estimated $28M.

  • 51 institutional investors held Franklin Limited Duration Income Trust (FTF) as of Q1 2017, up from 47 in Q4 2016.
  • Funds reported $96.5M of Franklin Limited Duration Income Trust stock for Q1 2017, down 35% quarter-over-quarter.
  • 13 funds opened new Franklin Limited Duration Income Trust positions in Q1 2017 and 8 closed out, a net change of +5 holders.
  • The largest Franklin Limited Duration Income Trust buyer in Q1 2017 was Laurion Capital Management, an estimated $4.89M added.
  • The largest Franklin Limited Duration Income Trust seller in Q1 2017 was Saba Capital Management, an estimated $28M sold.

Based on aggregated 13F filings for Q1 2017.