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Gray Television
GTN

120 hedge funds and large institutions have $597M invested in Gray Television in 2013 Q4 according to their latest regulatory filings, with 31 funds opening new positions, 38 increasing their positions, 45 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

333% more call options, than puts

Call options by funds: $8.27M | Put options by funds: $1.91M

93% more capital invested

Capital invested by funds: $310M → $597M (+$288M)

48% more first-time investments, than exits

New positions opened: 31 | Existing positions closed: 21

9% more funds holding

Funds holding: 110 → 120 (+10)

1.7% more ownership

Funds ownership: 75.56% → 77.26% (+1.7%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

16% less repeat investments, than reductions

Existing positions increased: 38 | Existing positions reduced: 45

Holders
120
Holders Change
+10
Holders Change %
+9.09%
% of All Funds
3.48%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
31
Increased
38
Reduced
45
Closed
21
Calls
$8.27M
Puts
$1.91M
Net Calls
+$6.37M
Net Calls Change
+$5.05M

Top Buyers

1
Invesco
Invesco
Georgia
+$11.7M
2
EMFAT
Emerald Mutual Fund Advisers Trust
Pennsylvania
+$8.5M
3
EA
Emerald Advisers
Pennsylvania
+$5.94M
4
Morgan Stanley
Morgan Stanley
New York
+$4.09M
5
BIM
Bogle Investment Management
Massachusetts
+$3.8M

Top Sellers

1
CIM
Contrarius Investment Management
Jersey
-$18.1M
2
PCM
Penn Capital Management
Pennsylvania
-$4.5M
3
NI
Numeric Investors
Massachusetts
-$4.27M
4
BCM
Bridgeway Capital Management
Texas
-$4.06M
5
KCM
Kingdon Capital Management
New York
-$3.53M
Name Holding Trade Value Shares
Change 		Change in
Stake
Ameriprise
26
Ameriprise
Minnesota
$5.17M +$210K +19,825 +6%
GF
27
Gabelli Funds
New York
$4.96M -$285K -27,000 -8%
Geode Capital Management
28
Geode Capital Management
Massachusetts
$4.88M +$1.21M +114,496 +54%
RFC
29
Russell Frank Company
Washington
$4.87M -$2.85M -269,915 -41%
New York State Common Retirement Fund
30
New York State Common Retirement Fund
New York
$4.64M -$495K -46,775 -13%
D.E. Shaw & Co
31
D.E. Shaw & Co
New York
$4.28M +$655K +61,965 +28%
GAM
32
Gotham Asset Management
New York
$4.15M -$114K -10,758 -4%
VOAM
33
Vertex One Asset Management
British Columbia, Canada
$4.1M +$2.91M +275,500 New
Bank of New York Mellon
34
Bank of New York Mellon
New York
$3.91M +$174K +16,418 +7%
J
35
JWest
Indiana
$3.77M +$2.71M +256,560 New
PPA
36
Parametric Portfolio Associates
Washington
$3.75M +$1.1M +103,947 +70%
TCIM
37
TIAA CREF Investment Management
New York
$3.37M -$153K -14,431 -6%
TAL
38
TIG Advisors LLC
New York
$3.33M -$43K -4,068 -2%
U
39
UBS
Switzerland
$2.87M +$2.01M +189,751 +6,459%
CII
40
CR Intrinsic Investors
Connecticut
$2.81M +$2M +188,956 New
BIM
41
BlackRock Investment Management
Delaware
$2.5M -$68.7K -6,498 -4%
BCM
42
Bridgeway Capital Management
Texas
$2.4M -$4.06M -384,150 -70%
NI
43
Numeric Investors
Massachusetts
$2.31M -$4.27M -403,469 -72%
Allianz Asset Management
44
Allianz Asset Management
Germany
$2.3M +$1.63M +154,500 New
Wells Fargo
45
Wells Fargo
California
$2.29M +$345K +32,657 +27%
Millennium Management
46
Millennium Management
New York
$2.21M +$922K +87,198 +142%
CCMLC
47
Cardinal Capital Management LLC (Connecticut)
Connecticut
$2.1M +$1.49M +141,367 New
California Public Employees Retirement System
48
California Public Employees Retirement System
California
$2.04M -$498K -47,100 -25%
Goldman Sachs
49
Goldman Sachs
New York
$2.03M -$155K -14,645 -10%
CCM
50
Contrarian Capital Management
Connecticut
$1.86M +$1.33M +125,366 New
1
2
3 4 5

GTN Hedge Fund Activity: Q4 2013 in Review

120 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Gray Television (GTN) for Q4 2013, worth a combined $597M — up 93% from $310M a quarter earlier.

Buyers outnumbered sellers: 31 funds opened new GTN positions and 21 closed out — a net gain of 10 holders — while 38 added to existing stakes and 45 trimmed.

The largest buyer was Invesco, adding an estimated $11.7M. The largest seller was Contrarius Investment Management, cutting an estimated $18.1M.

  • 120 institutional investors held Gray Television (GTN) as of Q4 2013, up from 110 in Q3 2013.
  • Funds reported $597M of Gray Television stock for Q4 2013, up 93% quarter-over-quarter.
  • 31 funds opened new Gray Television positions in Q4 2013 and 21 closed out, a net change of +10 holders.
  • The largest Gray Television buyer in Q4 2013 was Invesco, an estimated $11.7M added.
  • The largest Gray Television seller in Q4 2013 was Contrarius Investment Management, an estimated $18.1M sold.

Based on aggregated 13F filings for Q4 2013.