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MTCN

ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN

Delisted

MTCN was delisted on the 8th of January, 2016.

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48 hedge funds and large institutions have $1.2B invested in ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) in 2014 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 15 increasing their positions, 12 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more funds holding in top 10

Funds holding in top 10: 4 → 5 (+1)

25% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 12

4% less funds holding

Funds holding: 50 → 48 (-2)

6% less capital invested

Capital invested by funds: $1.28B → $1.2B (-$82.9M)

10% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 10

Holders
48
Holders Change
-2
Holders Change %
-4%
% of All Funds
1.38%
Holding in Top 10
5
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+25%
% of All Funds
0.14%
New
9
Increased
15
Reduced
12
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
DKCM
Davidson Kempner Capital Management
New York
+$68.5M
2
Loomis, Sayles & Company
Loomis, Sayles & Company
Massachusetts
+$54.2M
3
Citadel Advisors
Citadel Advisors
Florida
+$17.7M
4
AllianceBernstein
AllianceBernstein
Tennessee
+$15.4M
5
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
+$13.4M

Top Sellers

1
Franklin Resources
Franklin Resources
California
-$53.2M
2
Ameriprise
Ameriprise
Minnesota
-$19.3M
3
AIM
Assured Investment Management
New York
-$11.8M
4
Goldman Sachs
Goldman Sachs
New York
-$10.3M
5
CS
Credit Suisse
Switzerland
-$5.91M
Name Holding Trade Value Shares
Change 		Change in
Stake
Loomis, Sayles & Company
1
Loomis, Sayles & Company
Massachusetts
$161M +$54.2M +2,294,465 +27%
ICM
2
Ionic Capital Management
New York
$137M -$5.43M -229,759 -4%
BFA
3
BlackRock Fund Advisors
California
$126M +$9.57M +404,904 +8%
CAM
4
Camden Asset Management
California
$103M -$4.32M -183,000 -4%
SC
5
Sculptor Capital
New York
$76.7M +$11.1M +470,000 +16%
DKCM
6
Davidson Kempner Capital Management
New York
$65.2M +$68.5M +2,900,000 New
Citadel Advisors
7
Citadel Advisors
Florida
$64.2M +$17.7M +750,000 +36%
Franklin Resources
8
Franklin Resources
California
$53.3M -$53.2M -2,250,000 Closed
Credit Agricole
9
Credit Agricole
France
$40.2M -$37.8K -1,600 -0.1%
Bank of America
10
Bank of America
North Carolina
$38.6M +$7.6M +321,787 +23%
Goldman Sachs
11
Goldman Sachs
New York
$29.5M -$10.3M -436,541 -25%
BG
12
BlackRock Group
United Kingdom
$27.8M – – –
JP Morgan Chase
13
JP Morgan Chase
New York
$23.4M +$2.23M +94,425 +10%
MSL
14
Mackay Shields LLC
New York
$20.4M -$42.5K -1,800 -0.2%
AGC
15
Angelo Gordon & Co
New York
$17.6M – – –
Bank of Montreal
16
Bank of Montreal
Ontario, Canada
$14.8M – – –
AllianceBernstein
17
AllianceBernstein
Tennessee
$14.7M +$15.4M +652,920 New
AIM
18
Assured Investment Management
New York
$14.6M -$11.8M -500,000 Closed
OCM
19
Oaktree Capital Management
California
$14.2M – – –
Fidelity Investments
20
Fidelity Investments
Massachusetts
$12.8M – – –
Manulife (Manufacturers Life Insurance)
21
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$12.8M +$13.4M +568,600 New
WAM
22
Wolverine Asset Management
Illinois
$12.7M +$1.04M +44,030 +8%
T. Rowe Price Associates
23
T. Rowe Price Associates
Maryland
$11.5M +$271K +11,469 +2%
Royal Bank of Canada
24
Royal Bank of Canada
Ontario, Canada
$11.2M – – –
WRF
25
Waddell & Reed Financial
Kansas
$8.92M – – –
1
2 3

MTCN Hedge Fund Activity: Q2 2014 in Review

48 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) (MTCN) for Q2 2014, worth a combined $1.2B — down 6.5% from $1.28B a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of MTCN and 9 opened new positions — a net loss of 1 holder — while 12 trimmed existing stakes and 15 added.

The largest buyer was Davidson Kempner Capital Management, opening a new position worth an estimated $68.5M. The largest seller was Franklin Resources, exiting entirely with an estimated $53.2M sold.

  • 48 institutional investors held ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) (MTCN) as of Q2 2014, down from 50 in Q1 2014.
  • Funds reported $1.2B of ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) stock for Q2 2014, down 6.5% quarter-over-quarter.
  • 9 funds opened new ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) positions in Q2 2014 and 10 closed out, a net change of -1 holder.
  • The largest ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) buyer in Q2 2014 was Davidson Kempner Capital Management, an estimated $68.5M added.
  • The largest ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) seller in Q2 2014 was Franklin Resources, an estimated $53.2M sold.

Based on aggregated 13F filings for Q2 2014.