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GDL

GDL Fund
GDL

41 hedge funds and large institutions have $94M invested in GDL Fund in 2013 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 14 increasing their positions, 10 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

40% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 10

29% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 7

3% more funds holding

Funds holding: 40 → 41 (+1)

0.51% more ownership

Funds ownership: 39.99% → 40.5% (+0.51%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

1% less capital invested

Capital invested by funds: $94.9M → $94M (-$839K)

Holders
41
Holders Change
+1
Holders Change %
+2.5%
% of All Funds
1.19%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
9
Increased
14
Reduced
10
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Lazard Asset Management
Lazard Asset Management
New York
+$2.76M
2
GPC
Glacier Peak Capital
Washington
+$2.04M
3
GC
Guggenheim Capital
Illinois
+$763K
4
TC
TFS Capital
Pennsylvania
+$696K
5
GI
GAMCO Investors
Connecticut
+$615K

Top Sellers

Rank Fund Capital Flow
1
AAM
Advisors Asset Management
Colorado
-$3.5M
2
Deutsche Bank
Deutsche Bank
Germany
-$1.55M
3
U
UBS
Switzerland
-$774K
4
Morgan Stanley
Morgan Stanley
New York
-$593K
5
PPA
Parametric Portfolio Associates
Washington
-$514K
Name Holding Trade Value Shares
Change 		Change in
Stake
VAM
26
Visium Asset Management
New York
$250K +$3.36K +299 +1%
YCM
27
Yakira Capital Management
Connecticut
$214K +$47.9K +4,265 New
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$184K -$17.9K -1,591 -9%
TJHA
29
Thomas J. Herzfeld Advisors
Florida
$121K – – –
U
30
UBS
Switzerland
$107K -$774K -68,905 -88%
JAM
31
Jolley Asset Management
North Carolina
$101K – – –
MFS
32
MSI Financial Services
Massachusetts
$101K +$95.5K +8,500 +1,221%
WA
33
WFG Advisors
Texas
$61K – – –
Citigroup
34
Citigroup
New York
$30K +$12.2K +1,089 +68%
TCOV
35
Trust Company of Vermont
Vermont
$17K – – –
Creative Planning
36
Creative Planning
Kansas
$17K +$16.9K +1,500 New
KCPG
37
Kavar Capital Partners Group
Kansas
$11K +$11.2K +1,000 New
BBPWM
38
Blue Bell Private Wealth Management
Pennsylvania
$10K +$10.5K +935 New
DADC
39
D.A. Davidson & Co
Montana
$2K – – –
WEC
40
Winslow Evans & Crocker
Massachusetts
$1K +$1.44K +128 New
PPA
41
Parametric Portfolio Associates
Washington
– -$514K -45,602 Closed
CA
42
Cornerstone Advisors
North Carolina
– -$159K -14,068 Closed
US Bancorp
43
US Bancorp
Minnesota
– -$14K -1,250 Closed
Invesco
44
Invesco
Georgia
– -$14K -1,249 Closed
AIG
45
American International Group
New York
– -$7.84K -695 Closed
Ameriprise
46
Ameriprise
Minnesota
– -$6K -500 Closed
TRCT
47
Tower Research Capital (TRC)
New York
– -$2K -200 Closed
CFN
48
Cordasco Financial Network
Florida
– +$315 +28 New
1
2

GDL Hedge Fund Activity: Q4 2013 in Review

41 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q4 2013, worth a combined $94M — down 0.88% from $94.9M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new GDL positions and 7 closed out — a net gain of 2 holders — while 14 added to existing stakes and 10 trimmed.

The largest buyer was Lazard Asset Management, adding an estimated $2.76M. The largest seller was Advisors Asset Management, cutting an estimated $3.5M.

  • 41 institutional investors held GDL Fund (GDL) as of Q4 2013, up from 40 in Q3 2013.
  • Funds reported $94M of GDL Fund stock for Q4 2013, down 0.88% quarter-over-quarter.
  • 9 funds opened new GDL Fund positions in Q4 2013 and 7 closed out, a net change of +2 holders.
  • The largest GDL Fund buyer in Q4 2013 was Lazard Asset Management, an estimated $2.76M added.
  • The largest GDL Fund seller in Q4 2013 was Advisors Asset Management, an estimated $3.5M sold.

Based on aggregated 13F filings for Q4 2013.