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PCF

High Income Securities Fund
PCF

36 hedge funds and large institutions have $21.8M invested in High Income Securities Fund in 2015 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 8 increasing their positions, 9 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.05% less ownership

Funds ownership: 17.61% → 17.56% (-0.05%)

5% less funds holding

Funds holding: 38 → 36 (-2)

6% less capital invested

Capital invested by funds: $23.1M → $21.8M (-$1.33M)

11% less repeat investments, than reductions

Existing positions increased: 8 | Existing positions reduced: 9

29% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 7

Holders
36
Holders Change
-2
Holders Change %
-5.26%
% of All Funds
0.96%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
8
Reduced
9
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$368K
2
CRC
Curi RMB Capital
Illinois
+$143K
3
SFS
Shaker Financial Services
Virginia
+$133K
4
TJHA
Thomas J. Herzfeld Advisors
Florida
+$105K
5
Bank of America
Bank of America
North Carolina
+$63.2K

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$825K
2
AQR Capital Management
AQR Capital Management
Connecticut
-$659K
3
GC
Guggenheim Capital
Illinois
-$485K
4
AAM
Advisors Asset Management
Colorado
-$382K
5
SG Americas Securities
SG Americas Securities
New York
-$120K
Name Holding Trade Value Shares
Change 		Change in
Stake
Fifth Third Bancorp
26
Fifth Third Bancorp
Ohio
$18K – – –
BC
27
Bartlett & Co
Ohio
$16K – – –
KT
28
Kanaly Trust
Texas
$16K – – –
SC
29
Searle & Co
Connecticut
$16K – – –
Thrivent Financial for Lutherans
30
Thrivent Financial for Lutherans
Minnesota
$8K – – –
KA
31
Klingman & Associates
New York
$6K – – –
US Bancorp
32
US Bancorp
Minnesota
$6K – – –
AA
33
Apriem Advisors
California
$6K +$6.11K +748 New
CYG
34
Clean Yield Group
Vermont
$6K +$6.12K +750 New
Royal Bank of Canada
35
Royal Bank of Canada
Ontario, Canada
$4K – – –
Creative Planning
36
Creative Planning
Kansas
$1K -$93.7K -11,476 -99%
AQR Capital Management
37
AQR Capital Management
Connecticut
– -$659K -81,230 Closed
SG Americas Securities
38
SG Americas Securities
New York
– -$120K -14,805 Closed
GHAM
39
Gilman Hill Asset Management
Connecticut
– -$88K -10,825 Closed
NPC
40
National Planning Corporation
California
– -$64.1K -8,000 Closed
LTFS
41
Ladenburg Thalmann Financial Services
Florida
– -$28K -3,440 Closed
WA
42
WFG Advisors
Texas
– -$22K -2,744 Closed
WEC
43
Winslow Evans & Crocker
Massachusetts
– -$20.3K -2,500 Closed
1
2

PCF Hedge Fund Activity: Q1 2015 in Review

36 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in High Income Securities Fund (PCF) for Q1 2015, worth a combined $21.8M — down 5.8% from $23.1M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of PCF and 5 opened new positions — a net loss of 2 holders — while 9 trimmed existing stakes and 8 added.

The largest buyer was Morgan Stanley, adding an estimated $368K. The largest seller was Saba Capital Management, cutting an estimated $825K.

  • 36 institutional investors held High Income Securities Fund (PCF) as of Q1 2015, down from 38 in Q4 2014.
  • Funds reported $21.8M of High Income Securities Fund stock for Q1 2015, down 5.8% quarter-over-quarter.
  • 5 funds opened new High Income Securities Fund positions in Q1 2015 and 7 closed out, a net change of -2 holders.
  • The largest High Income Securities Fund buyer in Q1 2015 was Morgan Stanley, an estimated $368K added.
  • The largest High Income Securities Fund seller in Q1 2015 was Saba Capital Management, an estimated $825K sold.

Based on aggregated 13F filings for Q1 2015.