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GDL

GDL Fund
GDL

44 hedge funds and large institutions have $88.9M invested in GDL Fund in 2015 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 13 increasing their positions, 19 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

1% more capital invested

Capital invested by funds: $87.8M → $88.9M (+$1.08M)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0.89% less ownership

Funds ownership: 40.97% → 40.08% (-0.89%)

12% less funds holding

Funds holding: 50 → 44 (-6)

32% less repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 19

67% less first-time investments, than exits

New positions opened: 3 | Existing positions closed: 9

Holders
44
Holders Change
-6
Holders Change %
-12%
% of All Funds
1.17%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
3
Increased
13
Reduced
19
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Deutsche Bank
Deutsche Bank
Germany
+$1.38M
2
CA
Cornerstone Advisors
North Carolina
+$1.1M
3
RJA
Raymond James & Associates
Florida
+$693K
4
Bank of America
Bank of America
North Carolina
+$311K
5
FIMG
Financial & Investment Management Group
Michigan
+$276K

Top Sellers

1
AA
Ancora Advisors
Ohio
-$2.44M
2
Morgan Stanley
Morgan Stanley
New York
-$749K
3
SCM
Summit Capital Management
Washington
-$612K
4
GC
Guggenheim Capital
Illinois
-$477K
5
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$462K
Name Holding Trade Value Shares
Change 		Change in
Stake
Lazard Asset Management
1
Lazard Asset Management
New York
$23.6M -$125K -12,169 -0.5%
GI
2
GAMCO Investors
Connecticut
$15.9M +$181K +17,650 +1%
GPC
3
Glacier Peak Capital
Washington
$7.8M – – –
PAIM
4
Punch & Associates Investment Management
Minnesota
$5.04M -$96.1K -9,365 -2%
Morgan Stanley
5
Morgan Stanley
New York
$4.79M -$749K -73,020 -14%
RCM
6
Rivernorth Capital Management
Florida
$3.21M +$200K +19,510 +7%
GC
7
Guggenheim Capital
Illinois
$2.85M -$477K -46,455 -14%
CA
8
Cornerstone Advisors
North Carolina
$2.79M +$1.1M +107,138 +66%
Deutsche Bank
9
Deutsche Bank
Germany
$2.77M +$1.38M +134,300 +100%
1CP
10
1607 Capital Partners
Virginia
$2.53M +$99.5K +9,692 +4%
FIMG
11
Financial & Investment Management Group
Michigan
$2.36M +$276K +26,911 +13%
RJA
12
Raymond James & Associates
Florida
$2.26M +$693K +67,487 +45%
Bank of America
13
Bank of America
North Carolina
$2.14M +$311K +30,306 +17%
AA
14
Ancora Advisors
Ohio
$2.12M -$2.44M -237,550 Closed
SCM
15
Summit Capital Management
Washington
$1.13M -$612K -59,662 -35%
BNP Paribas Financial Markets
16
BNP Paribas Financial Markets
France
$1.06M -$462K -45,000 -31%
ST
17
Sentinel Trust
Texas
$949K – – –
CL
18
CSS LLC
Illinois
$822K – – –
DA
19
Doliver Advisors
Texas
$818K -$216K -21,042 -21%
BI
20
Bulldog Investors
New Jersey
$654K – – –
CAS
21
Cue Advisory Services
Arizona
$549K -$104K -10,095 -16%
MFS
22
MSI Financial Services
Massachusetts
$419K +$185 +18 +0%
Wells Fargo
23
Wells Fargo
California
$373K -$54.6K -5,321 -13%
RTS
24
Round Table Services
New Jersey
$354K +$208K +20,300 +145%
CS
25
Credit Suisse
Switzerland
$294K -$154K -15,035 -35%
1
2 3

GDL Hedge Fund Activity: Q1 2015 in Review

44 of the 3,752 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q1 2015, worth a combined $88.9M — up 1.2% from $87.8M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of GDL and 3 opened new positions — a net loss of 6 holders — while 19 trimmed existing stakes and 13 added.

The largest buyer was Deutsche Bank, adding an estimated $1.38M. The largest seller was Ancora Advisors, exiting entirely with an estimated $2.44M sold.

  • 44 institutional investors held GDL Fund (GDL) as of Q1 2015, down from 50 in Q4 2014.
  • Funds reported $88.9M of GDL Fund stock for Q1 2015, up 1.2% quarter-over-quarter.
  • 3 funds opened new GDL Fund positions in Q1 2015 and 9 closed out, a net change of -6 holders.
  • The largest GDL Fund buyer in Q1 2015 was Deutsche Bank, an estimated $1.38M added.
  • The largest GDL Fund seller in Q1 2015 was Ancora Advisors, an estimated $2.44M sold.

Based on aggregated 13F filings for Q1 2015.