Western Asset Investment Grade Income Fund
PAI
22 hedge funds and large institutions have $27.2M invested in Western Asset Investment Grade Income Fund in 2013 Q4 according to their latest regulatory filings, with 4 funds opening new positions, 8 increasing their positions, 8 reducing their positions, and 5 closing their positions.
27% more capital invested
Capital invested by funds: $21.4M → $27.2M (+$5.77M)
4.42% more ownership
Funds ownership: 17.39% → 21.81% (+4.4%)
0% more repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 8
4% less funds holding
Funds holding: 23 → 22 (-1)
20% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 5
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
+$3.85M |
| 2 |
SCM
Saba Capital Management
New York
|
+$2.81M |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$1.92M |
| 4 |
Wells Fargo
San Francisco,
California
|
+$503K |
| 5 |
AQR Capital Management
Greenwich,
Connecticut
|
+$112K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$1.31M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$787K |
| 3 |
DA
Doliver Advisors
Houston,
Texas
|
-$726K |
| 4 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
-$418K |
| 5 |
CA
Cornerstone Advisors
Asheville,
North Carolina
|
-$271K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
PMG
26
ProVise Management Group
Clearwater,
Florida
| – | -$133K | -10,460 | Closed |
|
27
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$25K | -2,000 | Closed |
|
PAI Hedge Fund Activity: Q4 2013 in Review
22 of the 3,447 institutional investors tracked by Wall St. Rank reported a position in Western Asset Investment Grade Income Fund (PAI) for Q4 2013, worth a combined $27.2M — up 27% from $21.4M a quarter earlier.
Sellers outnumbered buyers: 5 funds closed out of PAI and 4 opened new positions — a net loss of 1 holder — while 8 trimmed existing stakes and 8 added.
The largest buyer was 1607 Capital Partners, adding an estimated $3.85M. The largest seller was Guggenheim Capital, cutting an estimated $1.31M.
- 22 institutional investors held Western Asset Investment Grade Income Fund (PAI) as of Q4 2013, down from 23 in Q3 2013.
- Funds reported $27.2M of Western Asset Investment Grade Income Fund stock for Q4 2013, up 27% quarter-over-quarter.
- 4 funds opened new Western Asset Investment Grade Income Fund positions in Q4 2013 and 5 closed out, a net change of -1 holder.
- The largest Western Asset Investment Grade Income Fund buyer in Q4 2013 was 1607 Capital Partners, an estimated $3.85M added.
- The largest Western Asset Investment Grade Income Fund seller in Q4 2013 was Guggenheim Capital, an estimated $1.31M sold.
Based on aggregated 13F filings for Q4 2013.