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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
NES
51
New England Securities
New York
$13K – – –
MBT
52
Monroe Bank & Trust
Michigan
$13K +$12.5K +1,000 New
SNT
53
Security National Trust
West Virginia
$10K – – –
MA
54
MUFG Americas
New York
$7K +$7.18K +573 New
CRAM
55
Claren Road Asset Management
New York
– -$2.71M -213,134 Closed
Susquehanna International Group
56
Susquehanna International Group
Pennsylvania
– -$942K -74,193 Closed
TCM
57
Texan Capital Management
Texas
– -$932K -73,405 Closed
ST
58
Sentinel Trust
Texas
– -$449K -35,383 Closed
OFG
59
OTA Financial Group
New York
– -$265 -20,933 Closed
Comerica Bank
60
Comerica Bank
Texas
– -$148K -11,666 Closed
PP
61
Paloma Partners
Connecticut
– -$143K -11,300 Closed
WAM
62
Wolverine Asset Management
Illinois
– -$90K -7,131 Closed
PFO
63
Pathstone Family Office
New Jersey
– -$86K -6,626 Closed
Ameriprise
64
Ameriprise
Minnesota
– -$18K -1,403 Closed
PMFA
65
Plante Moran Financial Advisors
Michigan
– -$13K -1,046 Closed
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.