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NDRO

Enduro Royalty Trust
NDRO

Delisted

NDRO was delisted on the 13th of September, 2018.

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28 hedge funds and large institutions have $106M invested in Enduro Royalty Trust in 2014 Q4 according to their latest regulatory filings, with 7 funds opening new positions, 5 increasing their positions, 10 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

444% more call options, than puts

Call options by funds: $729K | Put options by funds: $134K

22% less funds holding

Funds holding: 36 → 28 (-8)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

50% less first-time investments, than exits

New positions opened: 7 | Existing positions closed: 14

50% less repeat investments, than reductions

Existing positions increased: 5 | Existing positions reduced: 10

60% less capital invested

Capital invested by funds: $262M → $106M (-$156M)

Holders
28
Holders Change
-8
Holders Change %
-22.22%
% of All Funds
0.75%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
7
Increased
5
Reduced
10
Closed
14
Calls
$729K
Puts
$134K
Net Calls
+$595K
Net Calls Change
-$286K

Top Buyers

Rank Fund Capital Flow
1
AI
ArchPoint Investors
Florida
+$1.2M
2
CS
Credit Suisse
Switzerland
+$819K
3
Morgan Stanley
Morgan Stanley
New York
+$243K
4
GCP
GSA Capital Partners
United Kingdom
+$209K
5
Citadel Advisors
Citadel Advisors
Florida
+$144K

Top Sellers

Rank Fund Capital Flow
1
KACA
Kayne Anderson Capital Advisors
California
-$4.05M
2
NIM
NXG Investment Management
Texas
-$3.87M
3
CC
Cannell & Co
New York
-$1.36M
4
HB
Homrich & Berg
Georgia
-$1.2M
5
Goldman Sachs
Goldman Sachs
New York
-$755K
Name Holding Trade Value Shares
Change 		Change in
Stake
Creative Planning
26
Creative Planning
Kansas
$2K – – –
BRWA
27
B. Riley Wealth Advisors
Florida
$8 +$12.7K +1,620 New
NIM
28
NXG Investment Management
Texas
– -$3.87M -342,000 Closed
CC
29
Cannell & Co
New York
– -$1.36M -120,775 Closed
STMM
30
South Texas Money Management
Texas
– -$655K -57,998 Closed
CFN
31
Cordasco Financial Network
Florida
– -$273K -24,164 Closed
HHAM
32
HITE Hedge Asset Management
Massachusetts
– -$273K -24,127 Closed
TC
33
TFS Capital
Pennsylvania
– -$237K -21,017 Closed
BAM
34
Burnham Asset Management
New York
– -$204K -18,050 Closed
Barclays
35
Barclays
United Kingdom
– -$67.9K -8,677 -99%
Citigroup
36
Citigroup
New York
– -$57K -5,000 Closed
MCM
37
Manchester Capital Management
Vermont
– -$28K -2,500 Closed
TRCT
38
Tower Research Capital (TRC)
New York
– -$21K -1,901 Closed
NFG
39
Next Financial Group
Texas
– -$8K -675 Closed
Ameriprise
40
Ameriprise
Minnesota
– -$6K -500 Closed
PNC Financial Services Group
41
PNC Financial Services Group
Pennsylvania
– -$5K -400 Closed
1
2

NDRO Hedge Fund Activity: Q4 2014 in Review

28 of the 3,751 institutional investors tracked by Wall St. Rank reported a position in Enduro Royalty Trust (NDRO) for Q4 2014, worth a combined $106M — down 60% from $262M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of NDRO and 7 opened new positions — a net loss of 7 holders — while 10 trimmed existing stakes and 5 added.

The largest buyer was ArchPoint Investors, adding an estimated $1.2M. The largest seller was Kayne Anderson Capital Advisors, cutting an estimated $4.05M.

  • 28 institutional investors held Enduro Royalty Trust (NDRO) as of Q4 2014, down from 36 in Q3 2014.
  • Funds reported $106M of Enduro Royalty Trust stock for Q4 2014, down 60% quarter-over-quarter.
  • 7 funds opened new Enduro Royalty Trust positions in Q4 2014 and 14 closed out, a net change of -7 holders.
  • The largest Enduro Royalty Trust buyer in Q4 2014 was ArchPoint Investors, an estimated $1.2M added.
  • The largest Enduro Royalty Trust seller in Q4 2014 was Kayne Anderson Capital Advisors, an estimated $4.05M sold.

Based on aggregated 13F filings for Q4 2014.