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PCF

High Income Securities Fund
PCF

36 hedge funds and large institutions have $23M invested in High Income Securities Fund in 2016 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 10 increasing their positions, 6 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

67% more repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 6

5% more capital invested

Capital invested by funds: $21.9M → $23M (+$1.13M)

0.98% more ownership

Funds ownership: 19.53% → 20.51% (+0.98%)

5% less funds holding

Funds holding: 38 → 36 (-2)

33% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 6

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
4
Increased
10
Reduced
6
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AAM
Advisors Asset Management
Colorado
+$1.01M
2
BI
Bulldog Investors
New Jersey
+$363K
3
RCM
Rivernorth Capital Management
Florida
+$355K
4
LCM
Landscape Capital Management
New Jersey
+$346K
5
RJFSA
Raymond James Financial Services Advisors
Florida
+$185K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$748K
2
CS
Credit Suisse
Switzerland
-$171K
3
SG Americas Securities
SG Americas Securities
New York
-$164K
4
Bank of America
Bank of America
North Carolina
-$162K
5
SS
Simplicity Solutions
Minnesota
-$149K
Name Holding Trade Value Shares
Change 		Change in
Stake
KT
26
Kanaly Trust
Texas
$15K – – –
BC
27
Bartlett & Co
Ohio
$14K – – –
MFS
28
MSI Financial Services
Massachusetts
$11K – – –
Thrivent Financial for Lutherans
29
Thrivent Financial for Lutherans
Minnesota
$7K – – –
KA
30
Klingman & Associates
New York
$6K – – –
CYG
31
Clean Yield Group
Vermont
$6K +$5.24K +750 New
US Bancorp
32
US Bancorp
Minnesota
$5K – – –
AIM
33
Anchor Investment Management
South Carolina
$3.66K +$3.5K +500 New
AIS
34
Accurate Investment Solutions
Pennsylvania
$3K – – –
KIM
35
Karpus Investment Management
New York
– -$748K -102,286 Closed
CS
36
Credit Suisse
Switzerland
– -$171K -23,417 Closed
SG Americas Securities
37
SG Americas Securities
New York
– -$164K -22,446 Closed
SS
38
Simplicity Solutions
Minnesota
– -$149K -20,360 Closed
NPC
39
National Planning Corporation
California
– -$83K -12,398 Closed
IA
40
IFP Advisors
Florida
– -$2K -254 Closed
Barclays
41
Barclays
United Kingdom
– -$273 -39 -80%
1
2

PCF Hedge Fund Activity: Q1 2016 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 2016, worth a combined $23M — up 5.2% from $21.9M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of PCF and 4 opened new positions — a net loss of 2 holders — while 6 trimmed existing stakes and 10 added.

The largest buyer was Advisors Asset Management, adding an estimated $1.01M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $748K sold.

  • 36 institutional investors held High Income Securities Fund (PCF) as of Q1 2016, down from 38 in Q4 2015.
  • Funds reported $23M of High Income Securities Fund stock for Q1 2016, up 5.2% quarter-over-quarter.
  • 4 funds opened new High Income Securities Fund positions in Q1 2016 and 6 closed out, a net change of -2 holders.
  • The largest High Income Securities Fund buyer in Q1 2016 was Advisors Asset Management, an estimated $1.01M added.
  • The largest High Income Securities Fund seller in Q1 2016 was Karpus Investment Management, an estimated $748K sold.

Based on aggregated 13F filings for Q1 2016.