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GDL

GDL Fund
GDL

37 hedge funds and large institutions have $109M invested in GDL Fund in 2017 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 7 increasing their positions, 15 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

0.86% less ownership

Funds ownership: 60.05% → 59.19% (-0.86%)

2% less capital invested

Capital invested by funds: $111M → $109M (-$2.21M)

5% less funds holding

Funds holding: 39 → 37 (-2)

25% less first-time investments, than exits

New positions opened: 3 | Existing positions closed: 4

53% less repeat investments, than reductions

Existing positions increased: 7 | Existing positions reduced: 15

Holders
37
Holders Change
-2
Holders Change %
-5.13%
% of All Funds
0.92%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
3
Increased
7
Reduced
15
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RVPG
Relative Value Partners Group
+$4.23M
2
HK
Horizon Kinetics
New York
+$467K
3
GCIA
Gabelli & Co Investment Advisers
New York
+$237K
4
SI
SII Investments
Wisconsin
+$122K
5
GI
GAMCO Investors
Connecticut
+$91.7K

Top Sellers

Rank Fund Capital Flow
1
AAM
Advisors Asset Management
Colorado
-$1.8M
2
RCM
Rivernorth Capital Management
Florida
-$1.39M
3
GPC
Glacier Peak Capital
Washington
-$973K
4
CA
Cornerstone Advisors
North Carolina
-$712K
5
GC
Guggenheim Capital
Illinois
-$409K
Name Holding Trade Value Shares
Change 		Change in
Stake
Royal Bank of Canada
26
Royal Bank of Canada
Ontario, Canada
$185K +$10.1K +983 +6%
RJFSA
27
Raymond James Financial Services Advisors
Florida
$175K +$1.02K +100 +0.6%
SI
28
SII Investments
Wisconsin
$120K +$122K +11,937 New
JAM
29
Jolley Asset Management
North Carolina
$55K – – –
TJHA
30
Thomas J. Herzfeld Advisors
Florida
$51K – – –
UBS Group
31
UBS Group
Switzerland
$49K -$19.4K -1,901 -28%
CPIG
32
Chicago Partners Investment Group
Illinois
$41K +$40.7K +3,983 New
WAM
33
Wealthspire Advisors (Maryland)
Maryland
$17K – – –
TCOV
34
Trust Company of Vermont
Vermont
$16K – – –
PNC Financial Services Group
35
PNC Financial Services Group
Pennsylvania
$15K – – –
IA
36
IFP Advisors
Florida
$13K – – –
BBPWM
37
Blue Bell Private Wealth Management
Pennsylvania
$5K -$17.4K -1,698 -78%
TRCT
38
Tower Research Capital (TRC)
New York
$2K +$2.08K +203 New
BWA
39
BDO Wealth Advisors
Florida
$1K – – –
RCM
40
Rivernorth Capital Management
Florida
– -$1.39M -135,242 Closed
TC
41
TFS Capital
Pennsylvania
– -$165K -16,097 Closed
MML Investors Services
42
MML Investors Services
Massachusetts
– -$151K -14,705 Closed
BlackRock
43
BlackRock
New York
– -$83K -8,043 Closed
1
2

GDL Hedge Fund Activity: Q3 2017 in Review

37 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q3 2017, worth a combined $109M — down 2% from $111M a quarter earlier.

Sellers outnumbered buyers: 4 funds closed out of GDL and 3 opened new positions — a net loss of 1 holder — while 15 trimmed existing stakes and 7 added.

The largest buyer was Relative Value Partners Group, adding an estimated $4.23M. The largest seller was Advisors Asset Management, cutting an estimated $1.8M.

  • 37 institutional investors held GDL Fund (GDL) as of Q3 2017, down from 39 in Q2 2017.
  • Funds reported $109M of GDL Fund stock for Q3 2017, down 2% quarter-over-quarter.
  • 3 funds opened new GDL Fund positions in Q3 2017 and 4 closed out, a net change of -1 holder.
  • The largest GDL Fund buyer in Q3 2017 was Relative Value Partners Group, an estimated $4.23M added.
  • The largest GDL Fund seller in Q3 2017 was Advisors Asset Management, an estimated $1.8M sold.

Based on aggregated 13F filings for Q3 2017.