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GDL

GDL Fund
GDL

47 hedge funds and large institutions have $87.5M invested in GDL Fund in 2016 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 18 increasing their positions, 16 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

13% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 16

0.59% less ownership

Funds ownership: 47.79% → 47.2% (-0.59%)

4% less capital invested

Capital invested by funds: $90.9M → $87.5M (-$3.35M)

2% less funds holding

Funds holding: 48 → 47 (-1)

25% less first-time investments, than exits

New positions opened: 3 | Existing positions closed: 4

Holders
47
Holders Change
-1
Holders Change %
-2.08%
% of All Funds
1.25%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
3
Increased
18
Reduced
16
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
RJA
Raymond James & Associates
Florida
+$2.31M
2
MC
Matisse Capital
Oregon
+$1.41M
3
FIMG
Financial & Investment Management Group
Michigan
+$627K
4
GPC
Glacier Peak Capital
Washington
+$539K
5
AAM
Advisors Asset Management
Colorado
+$538K

Top Sellers

1
PAIM
Punch & Associates Investment Management
Minnesota
-$3.97M
2
Deutsche Bank
Deutsche Bank
Germany
-$1.04M
3
1CP
1607 Capital Partners
Virginia
-$829K
4
Morgan Stanley
Morgan Stanley
New York
-$406K
5
Lazard Asset Management
Lazard Asset Management
New York
-$348K
Name Holding Trade Value Shares
Change 		Change in
Stake
Lazard Asset Management
1
Lazard Asset Management
New York
$18.8M -$348K -34,989 -2%
GCIA
2
Gabelli & Co Investment Advisers
New York
$14.1M +$222K +22,341 +2%
AAM
3
Advisors Asset Management
Colorado
$11.2M +$538K +54,107 +5%
GPC
4
Glacier Peak Capital
Washington
$6.21M +$539K +54,123 +7%
MC
5
Matisse Capital
Oregon
$5.86M +$1.41M +141,600 +32%
RJA
6
Raymond James & Associates
Florida
$4.87M +$2.31M +231,771 +90%
RCM
7
Rivernorth Capital Management
Florida
$3.82M -$29.8K -2,992 -0.8%
GI
8
GAMCO Investors
Connecticut
$2.76M +$16.8K +1,691 +0.6%
Bank of America
9
Bank of America
North Carolina
$2.7M +$81.4K +8,177 +3%
CA
10
Cornerstone Advisors
North Carolina
$2.64M – – –
FIMG
11
Financial & Investment Management Group
Michigan
$2.43M +$627K +63,045 +35%
AA
12
Ancora Advisors
Ohio
$2.08M +$139K +14,000 +7%
Morgan Stanley
13
Morgan Stanley
New York
$1.42M -$406K -40,747 -22%
CL
14
CSS LLC
Illinois
$883K +$14K +1,405 +2%
1CP
15
1607 Capital Partners
Virginia
$858K -$829K -83,329 -49%
HK
16
Horizon Kinetics
New York
$752K -$291K -29,201 -28%
GC
17
Guggenheim Capital
Illinois
$562K -$906 -91 -0.2%
Citigroup
18
Citigroup
New York
$476K +$87.8K +8,820 +23%
WS
19
Wedbush Securities
California
$457K -$93.2K -9,366 -17%
Wells Fargo
20
Wells Fargo
California
$415K -$34.4K -3,453 -8%
VKH
21
Virtu KCG Holdings
New York
$361K +$361K +36,323 New
ST
22
Sentinel Trust
Texas
$345K – – –
RTS
23
Round Table Services
New Jersey
$341K – – –
MFS
24
MSI Financial Services
Massachusetts
$312K -$7.13K -716 -2%
DA
25
Doliver Advisors
Texas
$312K +$60.1K +6,036 +24%
1
2

GDL Hedge Fund Activity: Q3 2016 in Review

47 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q3 2016, worth a combined $87.5M — down 3.7% from $90.9M a quarter earlier.

Sellers outnumbered buyers: 4 funds closed out of GDL and 3 opened new positions — a net loss of 1 holder — while 16 trimmed existing stakes and 18 added.

The largest buyer was Raymond James & Associates, adding an estimated $2.31M. The largest seller was Punch & Associates Investment Management, exiting entirely with an estimated $3.97M sold.

  • 47 institutional investors held GDL Fund (GDL) as of Q3 2016, down from 48 in Q2 2016.
  • Funds reported $87.5M of GDL Fund stock for Q3 2016, down 3.7% quarter-over-quarter.
  • 3 funds opened new GDL Fund positions in Q3 2016 and 4 closed out, a net change of -1 holder.
  • The largest GDL Fund buyer in Q3 2016 was Raymond James & Associates, an estimated $2.31M added.
  • The largest GDL Fund seller in Q3 2016 was Punch & Associates Investment Management, an estimated $3.97M sold.

Based on aggregated 13F filings for Q3 2016.