ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
MTCN was delisted on the 8th of January, 2016.
50 hedge funds and large institutions have $1.28B invested in ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) in 2014 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 13 increasing their positions, 16 reducing their positions, and 5 closing their positions.
80% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 5
9% more funds holding
Funds holding: 46 → 50 (+4)
7% less capital invested
Capital invested by funds: $1.39B → $1.28B (-$103M)
19% less repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 16
20% less funds holding in top 10
Funds holding in top 10: 5 → 4 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Franklin Resources
San Mateo,
California
|
+$54.6M |
| 2 |
CAM
Camden Asset Management
Los Angeles,
California
|
+$39.4M |
| 3 |
Loomis, Sayles & Company
Boston,
Massachusetts
|
+$36.2M |
| 4 |
BG
BlackRock Group
London,
United Kingdom
|
+$30M |
| 5 |
MSL
Mackay Shields LLC
New York
|
+$19.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
-$20.7M |
| 2 |
GH
GAM Holding
Zurich,
Switzerland
|
-$20M |
| 3 |
JP Morgan Chase
New York
|
-$18.5M |
| 4 |
PG
PEAK6 Group
Chicago,
Illinois
|
-$13.4M |
| 5 |
PI
Putnam Investments
Boston,
Massachusetts
|
-$12.4M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
51
Deutsche Bank
Frankfurt Am Main Ge,
Germany
| $183K | – | – | – |
|
52
US Bancorp
Minneapolis,
Minnesota
| $180K | – | – | – |
|
53
AllianceBernstein
Nashville,
Tennessee
| $156K | – | – | – |
|
|
CCM
54
Cutler Capital Management
Worcester,
Massachusetts
| $120K | +$121K | +5,000 | New |
|
55
Citigroup
New York
| $98K | +$99.5K | +4,100 | New |
|
|
RIM
56
Ranger International Management
Lake Forest,
Illinois
| $62K | +$93.2K | +3,840 | New |
|
57
ClearBridge Investments
New York
| $47K | – | – | – |
|
|
AIG
58
American International Group
New York
| $12K | – | – | – |
|
59
Morgan Stanley
New York
| $1K | -$367K | -15,112 | -100% |
|
|
60
Invesco
Atlanta,
Georgia
| – | -$20.7M | -797,900 | Closed |
|
|
GH
61
GAM Holding
Zurich,
Switzerland
| – | -$20M | -311,204 | Closed |
|
62
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$4.55M | -175,000 | Closed |
|
|
ACMI
63
Amida Capital Management II
New York
| – | -$2.21M | -85,000 | Closed |
|
MTCN Hedge Fund Activity: Q1 2014 in Review
50 of the 3,464 institutional investors tracked by Wall St. Rank reported a position in ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) (MTCN) for Q1 2014, worth a combined $1.28B — down 7.5% from $1.39B a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new MTCN positions and 5 closed out — a net gain of 4 holders — while 13 added to existing stakes and 16 trimmed.
The largest buyer was Franklin Resources, opening a new position worth an estimated $54.6M. The largest seller was Invesco, exiting entirely with an estimated $20.7M sold.
- 50 institutional investors held ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) (MTCN) as of Q1 2014, up from 46 in Q4 2013.
- Funds reported $1.28B of ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) stock for Q1 2014, down 7.5% quarter-over-quarter.
- 9 funds opened new ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) positions in Q1 2014 and 5 closed out, a net change of +4 holders.
- The largest ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) buyer in Q1 2014 was Franklin Resources, an estimated $54.6M added.
- The largest ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) seller in Q1 2014 was Invesco, an estimated $20.7M sold.
Based on aggregated 13F filings for Q1 2014.