GDL Fund
32 hedge funds and large institutions have $63.7M invested in GDL Fund in 2019 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 15 increasing their positions, 10 reducing their positions, and 4 closing their positions.
50% more repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 10
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
4% less capital invested
Capital invested by funds: $66M → $63.7M (-$2.34M)
2.11% less ownership
Funds ownership: 43.62% → 41.52% (-2.1%)
6% less funds holding
Funds holding: 34 → 32 (-2)
50% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 4
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$1.73M |
| 2 |
PAS
Park Avenue Securities
New York
|
+$329K |
| 3 |
Stifel Financial
St. Louis,
Missouri
|
+$184K |
| 4 |
GCIA
Gabelli & Co Investment Advisers
Rye,
New York
|
+$168K |
| 5 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$159K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MC
Matisse Capital
Portland,
Oregon
|
-$1.84M |
| 2 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
-$1.78M |
| 3 |
ZA
Zazove Associates
Incline Village,
Nevada
|
-$1.43M |
| 4 |
Lazard Asset Management
New York
|
-$690K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$207K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
BBPWM
26
Blue Bell Private Wealth Management
Blue Bell,
Pennsylvania
| $31K | -$11.2K | -1,200 | -26% |
|
|
TCOV
27
Trust Company of Vermont
Brattleboro,
Vermont
| $14K | – | – | – |
|
|
LTFS
28
Ladenburg Thalmann Financial Services
Miami,
Florida
| $14K | +$130 | +14 | +0.9% |
|
|
AIC
29
Ameritas Investment Company
Lincoln,
Nebraska
| $13K | +$13.3K | +1,430 | New |
|
|
FIA
30
FNY Investment Advisers
New York
| $11K | -$60.4K | -6,500 | -83% |
|
|
QCIG
31
Quad-Cities Investment Group
Davenport,
Iowa
| $11K | – | – | – |
|
|
TRCT
32
Tower Research Capital (TRC)
New York
| $8K | -$2.42K | -261 | -23% |
|
|
RCM
33
Rivernorth Capital Management
West Palm Beach,
Florida
| $252 | +$159K | +17,058 | +165% |
|
|
34
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$207K | -22,379 | Closed |
|
|
GAM
35
Griffin Asset Management
New York
| – | -$55K | -5,958 | Closed |
|
36
Fifth Third Bancorp
Cincinnati,
Ohio
| – | -$14K | -1,475 | Closed |
|
GDL Hedge Fund Activity: Q3 2019 in Review
32 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q3 2019, worth a combined $63.7M — down 3.5% from $66M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of GDL and 2 opened new positions — a net loss of 2 holders — while 10 trimmed existing stakes and 15 added.
The largest buyer was Morgan Stanley, adding an estimated $1.73M. The largest seller was Matisse Capital, cutting an estimated $1.84M.
- 32 institutional investors held GDL Fund (GDL) as of Q3 2019, down from 34 in Q2 2019.
- Funds reported $63.7M of GDL Fund stock for Q3 2019, down 3.5% quarter-over-quarter.
- 2 funds opened new GDL Fund positions in Q3 2019 and 4 closed out, a net change of -2 holders.
- The largest GDL Fund buyer in Q3 2019 was Morgan Stanley, an estimated $1.73M added.
- The largest GDL Fund seller in Q3 2019 was Matisse Capital, an estimated $1.84M sold.
Based on aggregated 13F filings for Q3 2019.