GDL Fund
35 hedge funds and large institutions have $69.2M invested in GDL Fund in 2019 Q4 according to their latest regulatory filings, with 6 funds opening new positions, 16 increasing their positions, 11 reducing their positions, and 2 closing their positions.
200% more first-time investments, than exits
New positions opened: 6 | Existing positions closed: 2
45% more repeat investments, than reductions
Existing positions increased: 16 | Existing positions reduced: 11
9% more funds holding
Funds holding: 32 → 35 (+3)
9% more capital invested
Capital invested by funds: $63.7M → $69.2M (+$5.56M)
3.92% more ownership
Funds ownership: 41.52% → 45.44% (+3.9%)
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ZA
Zazove Associates
Incline Village,
Nevada
|
+$1.42M |
| 2 |
MIG
Mariner Investment Group
Harrison,
New York
|
+$857K |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$501K |
| 4 |
Morgan Stanley
New York
|
+$369K |
| 5 |
RVPG
Relative Value Partners Group
|
+$343K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Lazard Asset Management
New York
|
-$2.17M |
| 2 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
-$490K |
| 3 |
HKAM
Horizon Kinetics Asset Management
New York
|
-$376K |
| 4 |
MC
Matisse Capital
Portland,
Oregon
|
-$47K |
| 5 |
RTS
Round Table Services
Westfield,
New Jersey
|
-$33.1K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
IAA
26
Independent Advisor Alliance
Charlotte,
North Carolina
| $145K | +$143K | +15,550 | New |
|
27
UBS Group
Zurich,
Switzerland
| $140K | +$28.6K | +3,103 | +26% |
|
28
Royal Bank of Canada
Toronto,
Ontario, Canada
| $136K | -$19.1K | -2,079 | -12% |
|
|
WAM
29
Wolverine Asset Management
Chicago,
Illinois
| $89K | +$8.44K | +917 | +10% |
|
|
FIA
30
FNY Investment Advisers
New York
| $54K | +$41.6K | +4,523 | +350% |
|
|
TJHA
31
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| $41K | +$433 | +47 | +1% |
|
|
BBPWM
32
Blue Bell Private Wealth Management
Blue Bell,
Pennsylvania
| $32K | +$267 | +29 | +0.9% |
|
|
LTFS
33
Ladenburg Thalmann Financial Services
Miami,
Florida
| $22K | +$7.49K | +814 | +53% |
|
|
TCOV
34
Trust Company of Vermont
Brattleboro,
Vermont
| $14K | – | – | – |
|
|
TRCT
35
Tower Research Capital (TRC)
New York
| $7K | -$1.52K | -165 | -19% |
|
|
AIC
36
Ameritas Investment Company
Lincoln,
Nebraska
| – | -$13K | -1,430 | Closed |
|
|
QCIG
37
Quad-Cities Investment Group
Davenport,
Iowa
| – | -$11K | -1,250 | Closed |
|
GDL Hedge Fund Activity: Q4 2019 in Review
35 of the 5,076 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q4 2019, worth a combined $69.2M — up 8.7% from $63.7M a quarter earlier.
Buyers outnumbered sellers: 6 funds opened new GDL positions and 2 closed out — a net gain of 4 holders — while 16 added to existing stakes and 11 trimmed.
The largest buyer was Zazove Associates, opening a new position worth an estimated $1.42M. The largest seller was Lazard Asset Management, cutting an estimated $2.17M.
- 35 institutional investors held GDL Fund (GDL) as of Q4 2019, up from 32 in Q3 2019.
- Funds reported $69.2M of GDL Fund stock for Q4 2019, up 8.7% quarter-over-quarter.
- 6 funds opened new GDL Fund positions in Q4 2019 and 2 closed out, a net change of +4 holders.
- The largest GDL Fund buyer in Q4 2019 was Zazove Associates, an estimated $1.42M added.
- The largest GDL Fund seller in Q4 2019 was Lazard Asset Management, an estimated $2.17M sold.
Based on aggregated 13F filings for Q4 2019.