High Income Securities Fund
PCF
36 hedge funds and large institutions have $23.3M invested in High Income Securities Fund in 2013 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 13 increasing their positions, 11 reducing their positions, and 1 closing their positions.
200% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 1
18% more repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 11
6% more funds holding
Funds holding: 34 → 36 (+2)
1% more capital invested
Capital invested by funds: $23.1M → $23.3M (+$259K)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
1.12% less ownership
Funds ownership: 18.5% → 17.38% (-1.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$1.26M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
+$549K |
| 3 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
+$172K |
| 4 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$137K |
| 5 |
NPC
National Planning Corporation
El Segundo,
California
|
+$93.7K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HK
Horizon Kinetics
New York
|
-$1.88M |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$1.48M |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$518K |
| 4 |
Invesco
Atlanta,
Georgia
|
-$50.1K |
| 5 |
FIAS
FinTrust Investment Advisory Services
Greenville,
South Carolina
|
-$44.9K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
HK
26
Horizon Kinetics
New York
| $89K | -$1.88M | -240,352 | -96% |
|
|
WA
27
WFG Advisors
Dallas,
Texas
| $83K | +$1.15K | +147 | +1% |
|
|
FIAS
28
FinTrust Investment Advisory Services
Greenville,
South Carolina
| $79K | -$44.9K | -5,750 | -37% |
|
|
BC
29
Bartlett & Co
Cincinnati,
Ohio
| $69K | – | – | – |
|
|
AIG
30
American International Group
New York
| $30.7K | – | – | – |
|
|
LTFS
31
Ladenburg Thalmann Financial Services
Miami,
Florida
| $27K | – | – | – |
|
32
Fifth Third Bancorp
Cincinnati,
Ohio
| $18K | – | – | – |
|
33
Ameriprise
Minneapolis,
Minnesota
| $14K | -$27K | -3,461 | -67% |
|
34
US Bancorp
Minneapolis,
Minnesota
| $6K | – | – | – |
|
35
First Manhattan
New York
| $6K | +$31 | +4 | +0.5% |
|
|
TRCT
36
Tower Research Capital (TRC)
New York
| – | -$3.9K | -500 | -97% |
|
37
Citigroup
New York
| – | -$2K | -287 | Closed |
|
PCF Hedge Fund Activity: Q3 2013 in Review
36 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in High Income Securities Fund (PCF) for Q3 2013, worth a combined $23.3M — up 1.1% from $23.1M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new PCF positions and 1 closed out — a net gain of 2 holders — while 13 added to existing stakes and 11 trimmed.
The largest buyer was Karpus Investment Management, adding an estimated $1.26M. The largest seller was Horizon Kinetics, cutting an estimated $1.88M.
- 36 institutional investors held High Income Securities Fund (PCF) as of Q3 2013, up from 34 in Q2 2013.
- Funds reported $23.3M of High Income Securities Fund stock for Q3 2013, up 1.1% quarter-over-quarter.
- 3 funds opened new High Income Securities Fund positions in Q3 2013 and 1 closed out, a net change of +2 holders.
- The largest High Income Securities Fund buyer in Q3 2013 was Karpus Investment Management, an estimated $1.26M added.
- The largest High Income Securities Fund seller in Q3 2013 was Horizon Kinetics, an estimated $1.88M sold.
Based on aggregated 13F filings for Q3 2013.