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PIM

Franklin Master Intermediate Income Trust
PIM

57 hedge funds and large institutions have $72.5M invested in Franklin Master Intermediate Income Trust in 2014 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 14 increasing their positions, 16 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 6

16% more capital invested

Capital invested by funds: $62.8M → $72.5M (+$9.76M)

6% more funds holding

Funds holding: 54 → 57 (+3)

3.03% more ownership

Funds ownership: 20.15% → 23.18% (+3%)

13% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 16

Holders
57
Holders Change
+3
Holders Change %
+5.56%
% of All Funds
1.65%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
14
Reduced
16
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$3.94M
2
SIA
Sit Investment Associates
Minnesota
+$2.95M
3
Invesco
Invesco
Georgia
+$1.28M
4
COLIM
City of London Investment Management
United Kingdom
+$989K
5
PM
Penbrook Management
New York
+$804K

Top Sellers

Rank Fund Capital Flow
1
TC
TFS Capital
Pennsylvania
-$1.21M
2
Barclays
Barclays
United Kingdom
-$961K
3
RCM
Robinson Capital Management
Michigan
-$554K
4
SG Americas Securities
SG Americas Securities
New York
-$307K
5
Goldman Sachs
Goldman Sachs
New York
-$246K
Name Holding Trade Value Shares
Change 		Change in
Stake
AllianceBernstein
26
AllianceBernstein
Tennessee
$142K +$139K +27,480 New
US Bancorp
27
US Bancorp
Minnesota
$88K – – –
CFSG
28
Community Financial Services Group
Vermont
$88K +$86.2K +17,000 New
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$87K +$5.97K +1,178 +8%
NL
30
NWAM LLC
Washington
$85K +$84.1K +16,598 New
VKH
31
Virtu KCG Holdings
New York
$82K -$56K -11,047 -41%
PP
32
Paloma Partners
Connecticut
$79K +$77.3K +15,251 New
HCM
33
Hollencrest Capital Management
California
$78K -$2.69K -531 -3%
SKK
34
Shepherd Kaplan Krochuk
Massachusetts
$72K – – –
PR
35
Payden & Rygel
California
$71K – – –
PAS
36
Partnervest Advisory Services
California
$69K – – –
OC
37
Oarsman Capital
Wisconsin
$68K -$7.52K -1,484 -10%
FAAS
38
First Allied Advisory Services
California
$66K -$75.2K -14,825 -53%
Citigroup
39
Citigroup
New York
$62K -$107K -21,040 -64%
CWM
40
Concert Wealth Management
California
$59K – – –
CAN
41
Cetera Advisor Networks
California
$57K – – –
WA
42
WFG Advisors
Texas
$55K +$15.7K +3,089 +41%
WA
43
Winfield Associates
Ohio
$31K – – –
SSB
44
Sandy Spring Bank
Maryland
$26K – – –
HCM
45
Horrell Capital Management
Arkansas
$17K – – –
AIG
46
American International Group
New York
$12.9K – – –
Creative Planning
47
Creative Planning
Kansas
$11K +$3.57K +704 +48%
DBT
48
Dubuque Bank & Trust
Iowa
$10K – – –
MFS
49
MSI Financial Services
Massachusetts
$7K – – –
AAM
50
Advisors Asset Management
Colorado
$6K -$243 -48 -4%
1
2
3

PIM Hedge Fund Activity: Q1 2014 in Review

57 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Franklin Master Intermediate Income Trust (PIM) for Q1 2014, worth a combined $72.5M — up 16% from $62.8M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new PIM positions and 6 closed out — a net gain of 3 holders — while 14 added to existing stakes and 16 trimmed.

The largest buyer was Saba Capital Management, adding an estimated $3.94M. The largest seller was TFS Capital, exiting entirely with an estimated $1.21M sold.

  • 57 institutional investors held Franklin Master Intermediate Income Trust (PIM) as of Q1 2014, up from 54 in Q4 2013.
  • Funds reported $72.5M of Franklin Master Intermediate Income Trust stock for Q1 2014, up 16% quarter-over-quarter.
  • 9 funds opened new Franklin Master Intermediate Income Trust positions in Q1 2014 and 6 closed out, a net change of +3 holders.
  • The largest Franklin Master Intermediate Income Trust buyer in Q1 2014 was Saba Capital Management, an estimated $3.94M added.
  • The largest Franklin Master Intermediate Income Trust seller in Q1 2014 was TFS Capital, an estimated $1.21M sold.

Based on aggregated 13F filings for Q1 2014.