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GDL

GDL Fund
GDL

38 hedge funds and large institutions have $90.8M invested in GDL Fund in 2017 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 12 increasing their positions, 13 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 4

3% more funds holding

Funds holding: 37 → 38 (+1)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

8% less repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 13

7.64% less ownership

Funds ownership: 59.19% → 51.55% (-7.6%)

17% less capital invested

Capital invested by funds: $109M → $90.8M (-$18.3M)

Holders
38
Holders Change
+1
Holders Change %
+2.7%
% of All Funds
0.86%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
5
Increased
12
Reduced
13
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RVPG
Relative Value Partners Group
+$1.31M
2
CA
Cornerstone Advisors
North Carolina
+$782K
3
Morgan Stanley
Morgan Stanley
New York
+$480K
4
Wells Fargo
Wells Fargo
California
+$427K
5
Bank of America
Bank of America
North Carolina
+$303K

Top Sellers

Rank Fund Capital Flow
1
GCIA
Gabelli & Co Investment Advisers
New York
-$7.93M
2
GPC
Glacier Peak Capital
Washington
-$3.63M
3
AAM
Advisors Asset Management
Colorado
-$1.91M
4
HK
Horizon Kinetics
New York
-$1.19M
5
ICM
Ionic Capital Management
New York
-$897K
Name Holding Trade Value Shares
Change 		Change in
Stake
LTFS
26
Ladenburg Thalmann Financial Services
Florida
$92K -$141K -14,108 -60%
WAM
27
Wolverine Asset Management
Illinois
$92K +$94.7K +9,469 New
UBS Group
28
UBS Group
Switzerland
$61K +$14.9K +1,485 +31%
CIBC Private Wealth Group
29
CIBC Private Wealth Group
Georgia
$53K +$54.8K +5,479 New
JAM
30
Jolley Asset Management
North Carolina
$52K – – –
TJHA
31
Thomas J. Herzfeld Advisors
Florida
$49K +$400 +40 +0.8%
CPIG
32
Chicago Partners Investment Group
Illinois
$39K – – –
TRCT
33
Tower Research Capital (TRC)
New York
$29K +$28.1K +2,811 +1,385%
BBPWM
34
Blue Bell Private Wealth Management
Pennsylvania
$21K +$17.6K +1,760 +374%
TCOV
35
Trust Company of Vermont
Vermont
$15K – – –
IA
36
IFP Advisors
Florida
$12K – – –
PNC Financial Services Group
37
PNC Financial Services Group
Pennsylvania
$11K -$3.73K -373 -25%
CFA
38
Carroll Financial Associates
North Carolina
$6K +$6.98K +698 New
ICM
39
Ionic Capital Management
New York
– -$897K -87,947 Closed
MAM
40
Marquette Asset Management
Minnesota
– -$366K -35,912 Closed
WS
41
Wedbush Securities
California
– -$321K -31,434 Closed
SI
42
SII Investments
Wisconsin
– -$120K -11,937 Closed
1
2

GDL Hedge Fund Activity: Q4 2017 in Review

38 of the 4,410 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q4 2017, worth a combined $90.8M — down 17% from $109M a quarter earlier.

Buyers outnumbered sellers: 5 funds opened new GDL positions and 4 closed out — a net gain of 1 holder — while 12 added to existing stakes and 13 trimmed.

The largest buyer was Relative Value Partners Group, adding an estimated $1.31M. The largest seller was Gabelli & Co Investment Advisers, cutting an estimated $7.93M.

  • 38 institutional investors held GDL Fund (GDL) as of Q4 2017, up from 37 in Q3 2017.
  • Funds reported $90.8M of GDL Fund stock for Q4 2017, down 17% quarter-over-quarter.
  • 5 funds opened new GDL Fund positions in Q4 2017 and 4 closed out, a net change of +1 holder.
  • The largest GDL Fund buyer in Q4 2017 was Relative Value Partners Group, an estimated $1.31M added.
  • The largest GDL Fund seller in Q4 2017 was Gabelli & Co Investment Advisers, an estimated $7.93M sold.

Based on aggregated 13F filings for Q4 2017.