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PIM

Franklin Master Intermediate Income Trust
PIM

54 hedge funds and large institutions have $62.8M invested in Franklin Master Intermediate Income Trust in 2013 Q4 according to their latest regulatory filings, with 12 funds opening new positions, 15 increasing their positions, 14 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 10

12% more capital invested

Capital invested by funds: $56.2M → $62.8M (+$6.61M)

4% more funds holding

Funds holding: 52 → 54 (+2)

2.61% more ownership

Funds ownership: 17.53% → 20.15% (+2.6%)

7% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 14

Holders
54
Holders Change
+2
Holders Change %
+3.85%
% of All Funds
1.57%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
12
Increased
15
Reduced
14
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
+$7.17M
2
SCM
Saba Capital Management
New York
+$5.4M
3
1CP
1607 Capital Partners
Virginia
+$4.03M
4
Wells Fargo
Wells Fargo
California
+$1.68M
5
RCM
Rivernorth Capital Management
Florida
+$1.23M

Top Sellers

Rank Fund Capital Flow
1
FAAS
First Allied Advisory Services
California
-$7.17M
2
FAAM
First Allied Asset Management
California
-$7.04M
3
FIMG
Financial & Investment Management Group
Michigan
-$1.96M
4
NCM
Newgate Capital Management
Connecticut
-$1.11M
5
DA
Doliver Advisors
Texas
-$338K
Name Holding Trade Value Shares
Change 		Change in
Stake
Cambridge Investment Research Advisors
26
Cambridge Investment Research Advisors
Iowa
$158K +$18.6K +3,740 +14%
WA
27
WealthTrust Axiom
Pennsylvania
$146K -$7.47K -1,500 -5%
FAAS
28
First Allied Advisory Services
California
$138K -$7.17M -1,441,050 -98%
VKH
29
Virtu KCG Holdings
New York
$136K -$33.8K -6,794 -20%
US Bancorp
30
US Bancorp
Minnesota
$86K – – –
Royal Bank of Canada
31
Royal Bank of Canada
Ontario, Canada
$79K +$1.92K +385 +3%
HCM
32
Hollencrest Capital Management
California
$79K +$78.3K +15,734 New
OC
33
Oarsman Capital
Wisconsin
$74K +$80 +16 +0.1%
SKK
34
Shepherd Kaplan Krochuk
Massachusetts
$70K – – –
PR
35
Payden & Rygel
California
$69K – – –
PAS
36
Partnervest Advisory Services
California
$68K +$66.8K +13,416 New
CWM
37
Concert Wealth Management
California
$58K – – –
CAN
38
Cetera Advisor Networks
California
$55K – – –
WA
39
WFG Advisors
Texas
$38K +$597 +120 +2%
Bank of Montreal
40
Bank of Montreal
Ontario, Canada
$38K +$34.8K +7,000 +1,220%
WA
41
Winfield Associates
Ohio
$30K +$29.9K +6,000 New
SSB
42
Sandy Spring Bank
Maryland
$25K – – –
HCM
43
Horrell Capital Management
Arkansas
$17K – – –
HNB
44
Huntington National Bank
Ohio
$14K – – –
AIG
45
American International Group
New York
$12.6K – – –
DBT
46
Dubuque Bank & Trust
Iowa
$10K +$9.46K +1,900 New
PWAG
47
Polaris Wealth Advisory Group
California
$10K +$9.83K +1,975 New
Creative Planning
48
Creative Planning
Kansas
$7K – – –
MFS
49
MSI Financial Services
Massachusetts
$7K – – –
AAM
50
Advisors Asset Management
Colorado
$6K -$105 -21 -2%
1
2
3

PIM Hedge Fund Activity: Q4 2013 in Review

54 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Franklin Master Intermediate Income Trust (PIM) for Q4 2013, worth a combined $62.8M — up 12% from $56.2M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new PIM positions and 10 closed out — a net gain of 2 holders — while 15 added to existing stakes and 14 trimmed.

The largest buyer was Sit Investment Associates, adding an estimated $7.17M. The largest seller was First Allied Advisory Services, cutting an estimated $7.17M.

  • 54 institutional investors held Franklin Master Intermediate Income Trust (PIM) as of Q4 2013, up from 52 in Q3 2013.
  • Funds reported $62.8M of Franklin Master Intermediate Income Trust stock for Q4 2013, up 12% quarter-over-quarter.
  • 12 funds opened new Franklin Master Intermediate Income Trust positions in Q4 2013 and 10 closed out, a net change of +2 holders.
  • The largest Franklin Master Intermediate Income Trust buyer in Q4 2013 was Sit Investment Associates, an estimated $7.17M added.
  • The largest Franklin Master Intermediate Income Trust seller in Q4 2013 was First Allied Advisory Services, an estimated $7.17M sold.

Based on aggregated 13F filings for Q4 2013.