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GDL

GDL Fund
GDL

40 hedge funds and large institutions have $66M invested in GDL Fund in 2018 Q3 according to their latest regulatory filings, with 5 funds opening new positions, 16 increasing their positions, 12 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

33% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 12

0% more funds holding

Funds holding: 40 → 40 (0)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 5

0.5% less ownership

Funds ownership: 42.44% → 41.94% (-0.5%)

3% less capital invested

Capital invested by funds: $68.2M → $66M (-$2.2M)

Holders
40
Holders Change
–
Holders Change %
0%
% of All Funds
0.91%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
5
Increased
16
Reduced
12
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CA
Cornerstone Advisors
North Carolina
+$546K
2
RJA
Raymond James & Associates
Florida
+$435K
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$210K
4
Bank of America
Bank of America
North Carolina
+$195K
5
ZA
Zazove Associates
Nevada
+$166K

Top Sellers

Rank Fund Capital Flow
1
BI
Bulldog Investors
New Jersey
-$854K
2
GI
GAMCO Investors
Connecticut
-$439K
3
MC
Matisse Capital
Oregon
-$427K
4
Geode Capital Management
Geode Capital Management
Massachusetts
-$366K
5
DA
Doliver Advisors
Texas
-$338K
Name Holding Trade Value Shares
Change 		Change in
Stake
PAG
26
Private Advisor Group
New Jersey
$145K +$147K +15,951 New
Citadel Advisors
27
Citadel Advisors
Florida
$144K +$146K +15,895 New
RJFSA
28
Raymond James Financial Services Advisors
Florida
$98K – – –
DA
29
Doliver Advisors
Texas
$93K -$338K -36,788 -78%
UBS Group
30
UBS Group
Switzerland
$55K +$2.1K +229 +4%
CPIG
31
Chicago Partners Investment Group
Illinois
$46K +$10.4K +1,134 +28%
BBPWM
32
Blue Bell Private Wealth Management
Pennsylvania
$44K +$11K +1,200 +33%
TJHA
33
Thomas J. Herzfeld Advisors
Florida
$38K +$423 +46 +1%
LTFS
34
Ladenburg Thalmann Financial Services
Florida
$34K -$44.1K -4,798 -56%
TRCT
35
Tower Research Capital (TRC)
New York
$30K +$27.7K +3,014 +1,039%
TCOV
36
Trust Company of Vermont
Vermont
$14K – – –
QCIG
37
Quad-Cities Investment Group
Iowa
$11K -$12K -1,308 -51%
CFA
38
Carroll Financial Associates
North Carolina
$6K – – –
FHB
39
First Hawaiian Bank
Hawaii
$6K +$6.43K +700 New
PNC Financial Services Group
40
PNC Financial Services Group
Pennsylvania
$2K – – –
BI
41
Bulldog Investors
New Jersey
– -$854K -93,002 Closed
Geode Capital Management
42
Geode Capital Management
Massachusetts
– -$366K -39,913 Closed
CIBC Private Wealth Group
43
CIBC Private Wealth Group
Georgia
– -$19K -2,060 Closed
JAM
44
Jolley Asset Management
North Carolina
– -$2K -185 Closed
Northwestern Mutual Wealth Management
45
Northwestern Mutual Wealth Management
Wisconsin
– -$1K -88 Closed
1
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GDL Hedge Fund Activity: Q3 2018 in Review

40 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q3 2018, worth a combined $66M — down 3.2% from $68.2M a quarter earlier.

Fund positioning in GDL was balanced in Q3 2018: 5 funds opened new positions, 5 closed out, 16 added to existing stakes and 12 trimmed.

The largest buyer was Cornerstone Advisors, adding an estimated $546K. The largest seller was Bulldog Investors, exiting entirely with an estimated $854K sold.

  • 40 institutional investors held GDL Fund (GDL) as of Q3 2018, unchanged from Q2 2018.
  • Funds reported $66M of GDL Fund stock for Q3 2018, down 3.2% quarter-over-quarter.
  • 5 funds opened new GDL Fund positions in Q3 2018 and 5 closed out, a net change of 0 holders.
  • The largest GDL Fund buyer in Q3 2018 was Cornerstone Advisors, an estimated $546K added.
  • The largest GDL Fund seller in Q3 2018 was Bulldog Investors, an estimated $854K sold.

Based on aggregated 13F filings for Q3 2018.