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HIO

Western Asset High Income Opportunity Fund
HIO

65 hedge funds and large institutions have $83.9M invested in Western Asset High Income Opportunity Fund in 2013 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 15 increasing their positions, 21 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

80% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 10

19% more capital invested

Capital invested by funds: $70.4M → $83.9M (+$13.5M)

14% more funds holding

Funds holding: 57 → 65 (+8)

2.79% more ownership

Funds ownership: 14.12% → 16.9% (+2.8%)

29% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 21

Holders
65
Holders Change
+8
Holders Change %
+14.04%
% of All Funds
1.89%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
18
Increased
15
Reduced
21
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
EVM
Eaton Vance Management
Massachusetts
+$5.25M
2
Bank of America
Bank of America
North Carolina
+$4.12M
3
SCM
Saba Capital Management
New York
+$2.31M
4
EAM
Eagle Asset Management
Florida
+$1.47M
5
Morgan Stanley
Morgan Stanley
New York
+$1.22M

Top Sellers

1
RCM
Rivernorth Capital Management
Florida
-$1.57M
2
GC
Guggenheim Capital
Illinois
-$558K
3
SPC
Silver Point Capital
Connecticut
-$537K
4
Wells Fargo
Wells Fargo
California
-$401K
5
Invesco
Invesco
Georgia
-$396K
Name Holding Trade Value Shares
Change 		Change in
Stake
MFS
51
MSI Financial Services
Massachusetts
$43K -$23.3K -3,896 -35%
MA
52
MUFG Americas
New York
$35K -$29.4K -4,913 -46%
FNBT
53
FineMark National Bank & Trust
Florida
$27K – – –
WRM
54
Westport Resources Management
Connecticut
$26K +$26.4K +4,400 New
AAM
55
Advisors Asset Management
Colorado
$25K -$461 -77 -2%
AIG
56
American International Group
New York
$16.9K +$4.12K +688 +32%
ST
57
Smithfield Trust
Pennsylvania
$12K – – –
Ameriprise
58
Ameriprise
Minnesota
$11K -$12K -2,009 -52%
Nomura Holdings
59
Nomura Holdings
Japan
$9K +$8.99K +1,500 New
TCM
60
Tradewinds Capital Management
Washington
$6K +$5.99K +1,000 New
Carson Wealth (CWM LLC)
61
Carson Wealth (CWM LLC)
Nebraska
$5K +$4.79K +800 New
US Bancorp
62
US Bancorp
Minnesota
$3K – – –
TRCT
63
Tower Research Capital (TRC)
New York
$2K -$3.43K -573 -59%
SPC
64
Silver Point Capital
Connecticut
– -$537K -90,000 Closed
COLIM
65
City of London Investment Management
United Kingdom
– -$367K -61,497 Closed
CA
66
Cornerstone Advisors
North Carolina
– -$242K -40,489 Closed
DA
67
Doliver Advisors
Texas
– -$221K -37,016 Closed
LCM
68
Lucas Capital Management
New Jersey
– -$142K -23,722 Closed
Comerica Bank
69
Comerica Bank
Texas
– -$101K -16,830 Closed
WAM
70
Wolverine Asset Management
Illinois
– -$60K -10,081 Closed
B
71
Baird
Wisconsin
– -$60K -10,000 Closed
RIA
72
Regal Investment Advisors
Michigan
– -$14K -2,400 Closed
CWM
73
Cranbrook Wealth Management
Michigan
– +$114 +19 New
CFN
74
Cordasco Financial Network
Florida
– +$425 +71 New
1 2
3

HIO Hedge Fund Activity: Q4 2013 in Review

65 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Western Asset High Income Opportunity Fund (HIO) for Q4 2013, worth a combined $83.9M — up 19% from $70.4M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new HIO positions and 10 closed out — a net gain of 8 holders — while 15 added to existing stakes and 21 trimmed.

The largest buyer was Eaton Vance Management, opening a new position worth an estimated $5.25M. The largest seller was Rivernorth Capital Management, cutting an estimated $1.57M.

  • 65 institutional investors held Western Asset High Income Opportunity Fund (HIO) as of Q4 2013, up from 57 in Q3 2013.
  • Funds reported $83.9M of Western Asset High Income Opportunity Fund stock for Q4 2013, up 19% quarter-over-quarter.
  • 18 funds opened new Western Asset High Income Opportunity Fund positions in Q4 2013 and 10 closed out, a net change of +8 holders.
  • The largest Western Asset High Income Opportunity Fund buyer in Q4 2013 was Eaton Vance Management, an estimated $5.25M added.
  • The largest Western Asset High Income Opportunity Fund seller in Q4 2013 was Rivernorth Capital Management, an estimated $1.57M sold.

Based on aggregated 13F filings for Q4 2013.