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Nuveen AMT-Free Municipal Credit Income Fund
NVG

54 hedge funds and large institutions have $76.3M invested in Nuveen AMT-Free Municipal Credit Income Fund in 2013 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 11 increasing their positions, 18 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

36% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 11

28% more capital invested

Capital invested by funds: $59.5M → $76.3M (+$16.8M)

8% more funds holding

Funds holding: 50 → 54 (+4)

4.69% more ownership

Funds ownership: 15.3% → 19.99% (+4.7%)

39% less repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 18

Holders
54
Holders Change
+4
Holders Change %
+8%
% of All Funds
1.57%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
15
Increased
11
Reduced
18
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$16.2M
2
Wells Fargo
Wells Fargo
California
+$2.53M
3
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$2.15M
4
CCM
Coe Capital Management
Illinois
+$1.4M
5
GEM
Global Endowment Management
North Carolina
+$1.38M

Top Sellers

Rank Fund Capital Flow
1
CRAM
Claren Road Asset Management
New York
-$2.71M
2
Invesco
Invesco
Georgia
-$1.42M
3
GC
Guggenheim Capital
Illinois
-$959K
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$942K
5
TCM
Texan Capital Management
Texas
-$932K
Name Holding Trade Value Shares
Change 		Change in
Stake
SG Americas Securities
26
SG Americas Securities
New York
$337K +$337K +26,878 New
Commonwealth Equity Services
27
Commonwealth Equity Services
Massachusetts
$332K – – –
Northwestern Mutual Wealth Management
28
Northwestern Mutual Wealth Management
Wisconsin
$317K -$181K -14,434 -36%
VanEck Associates
29
VanEck Associates
New York
$303K -$42.7K -3,407 -12%
EVC
30
Eidelman Virant Capital
Missouri
$277K +$277K +22,125 New
HK
31
Horizon Kinetics
New York
$273K -$93.9K -7,490 -26%
MWM
32
Merriman Wealth Management
Washington
$269K +$119K +9,500 +79%
DS
33
DRW Securities
Illinois
$258K +$108K +8,600 +72%
TCM
34
Tradewinds Capital Management
Washington
$252K +$253K +20,160 New
HCM
35
Hilton Capital Management
New York
$250K – – –
PVWM
36
Point View Wealth Management
New Jersey
$242K +$242K +19,308 New
UCFA
37
United Capital Financial Advisors
Texas
$182K – – –
Invesco
38
Invesco
Georgia
$175K -$1.42M -113,331 -89%
ACM
39
Argentus Capital Management
Texas
$156K -$622K -49,596 -80%
SIA
40
Sit Investment Associates
Minnesota
$88K -$169K -13,500 -66%
BRWA
41
B. Riley Wealth Advisors
Florida
$66K -$6.96K -555 -9%
AIG
42
American International Group
New York
$51.5K -$3.4K -271 -6%
BIM
43
BlackRock Investment Management
Delaware
$38K – – –
Creative Planning
44
Creative Planning
Kansas
$38K – – –
DADC
45
D.A. Davidson & Co
Montana
$37K – – –
FNBT
46
FineMark National Bank & Trust
Florida
$31K – – –
US Bancorp
47
US Bancorp
Minnesota
$21K – – –
TRCT
48
Tower Research Capital (TRC)
New York
$15K -$5.47K -436 -27%
Citigroup
49
Citigroup
New York
$15K +$14.9K +1,191 New
WEC
50
Winslow Evans & Crocker
Massachusetts
$14K +$13.6K +1,083 New
1
2
3

NVG Hedge Fund Activity: Q4 2013 in Review

54 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Nuveen AMT-Free Municipal Credit Income Fund (NVG) for Q4 2013, worth a combined $76.3M — up 28% from $59.5M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new NVG positions and 11 closed out — a net gain of 4 holders — while 11 added to existing stakes and 18 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $16.2M. The largest seller was Claren Road Asset Management, exiting entirely with an estimated $2.71M sold.

  • 54 institutional investors held Nuveen AMT-Free Municipal Credit Income Fund (NVG) as of Q4 2013, up from 50 in Q3 2013.
  • Funds reported $76.3M of Nuveen AMT-Free Municipal Credit Income Fund stock for Q4 2013, up 28% quarter-over-quarter.
  • 15 funds opened new Nuveen AMT-Free Municipal Credit Income Fund positions in Q4 2013 and 11 closed out, a net change of +4 holders.
  • The largest Nuveen AMT-Free Municipal Credit Income Fund buyer in Q4 2013 was Karpus Investment Management, an estimated $16.2M added.
  • The largest Nuveen AMT-Free Municipal Credit Income Fund seller in Q4 2013 was Claren Road Asset Management, an estimated $2.71M sold.

Based on aggregated 13F filings for Q4 2013.