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GDL

GDL Fund
GDL

34 hedge funds and large institutions have $72.8M invested in GDL Fund in 2019 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 14 increasing their positions, 8 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

75% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 8

1% more capital invested

Capital invested by funds: $71.8M → $72.8M (+$995K)

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

1.23% less ownership

Funds ownership: 44.73% → 43.5% (-1.2%)

6% less funds holding

Funds holding: 36 → 34 (-2)

Holders
34
Holders Change
-2
Holders Change %
-5.56%
% of All Funds
0.74%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
5
Increased
14
Reduced
8
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RVPG
Relative Value Partners Group
+$827K
2
Morgan Stanley
Morgan Stanley
New York
+$726K
3
PAS
Park Avenue Securities
New York
+$253K
4
CA
Cornerstone Advisors
North Carolina
+$228K
5
GCIA
Gabelli & Co Investment Advisers
New York
+$163K

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$381K
2
GPC
Glacier Peak Capital
Washington
-$378K
3
AA
Ancora Advisors
Ohio
-$360K
4
MAM
Marquette Asset Management
Minnesota
-$335K
5
GC
Guggenheim Capital
Illinois
-$148K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJFSA
26
Raymond James Financial Services Advisors
Florida
$101K +$99.3K +10,563 New
BBPWM
27
Blue Bell Private Wealth Management
Pennsylvania
$44K +$6.58K +700 +18%
TJHA
28
Thomas J. Herzfeld Advisors
Florida
$41K +$413 +44 +1%
LTFS
29
Ladenburg Thalmann Financial Services
Florida
$23K +$122 +13 +0.6%
TCOV
30
Trust Company of Vermont
Vermont
$15K – – –
QCIG
31
Quad-Cities Investment Group
Iowa
$12K – – –
FHB
32
First Hawaiian Bank
Hawaii
$7K – – –
CFA
33
Carroll Financial Associates
North Carolina
$6K – – –
PNC Financial Services Group
34
PNC Financial Services Group
Pennsylvania
$2K – – –
MAM
35
Marquette Asset Management
Minnesota
– -$335K -36,568 Closed
GC
36
Guggenheim Capital
Illinois
– -$148K -16,104 Closed
Carson Wealth (CWM LLC)
37
Carson Wealth (CWM LLC)
Nebraska
– -$122K -13,259 Closed
RCM
38
Rivernorth Capital Management
Florida
– -$93K -10,303 Closed
TRCT
39
Tower Research Capital (TRC)
New York
– -$44K -4,750 Closed
1
2

GDL Hedge Fund Activity: Q1 2019 in Review

34 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q1 2019, worth a combined $72.8M — up 1.4% from $71.8M a quarter earlier.

Fund positioning in GDL was balanced in Q1 2019: 5 funds opened new positions, 5 closed out, 14 added to existing stakes and 8 trimmed.

The largest buyer was Relative Value Partners Group, adding an estimated $827K. The largest seller was Bank of America, cutting an estimated $381K.

  • 34 institutional investors held GDL Fund (GDL) as of Q1 2019, down from 36 in Q4 2018.
  • Funds reported $72.8M of GDL Fund stock for Q1 2019, up 1.4% quarter-over-quarter.
  • 5 funds opened new GDL Fund positions in Q1 2019 and 5 closed out, a net change of 0 holders.
  • The largest GDL Fund buyer in Q1 2019 was Relative Value Partners Group, an estimated $827K added.
  • The largest GDL Fund seller in Q1 2019 was Bank of America, an estimated $381K sold.

Based on aggregated 13F filings for Q1 2019.