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PIM

Franklin Master Intermediate Income Trust
PIM

61 hedge funds and large institutions have $79.3M invested in Franklin Master Intermediate Income Trust in 2014 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 20 increasing their positions, 9 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

122% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 9

33% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 6

3% more funds holding

Funds holding: 59 → 61 (+2)

1.09% more ownership

Funds ownership: 24.83% → 25.93% (+1.1%)

2% more capital invested

Capital invested by funds: $77.7M → $79.3M (+$1.53M)

Holders
61
Holders Change
+2
Holders Change %
+3.39%
% of All Funds
1.77%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
20
Reduced
9
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$1.61M
2
1CP
1607 Capital Partners
Virginia
+$1.38M
3
RCM
Rivernorth Capital Management
Florida
+$592K
4
RJA
Raymond James & Associates
Florida
+$207K
5
RJFSA
Raymond James Financial Services Advisors
Florida
+$195K

Top Sellers

Rank Fund Capital Flow
1
JG
Jefferies Group
New York
-$687K
2
SG Americas Securities
SG Americas Securities
New York
-$365K
3
Wells Fargo
Wells Fargo
California
-$287K
4
Citadel Advisors
Citadel Advisors
Florida
-$151K
5
DA
Doliver Advisors
Texas
-$142K
Name Holding Trade Value Shares
Change 		Change in
Stake
WA
26
WealthTrust Axiom
Pennsylvania
$130K – – –
VKH
27
Virtu KCG Holdings
New York
$129K +$37.2K +7,357 +40%
Goldman Sachs
28
Goldman Sachs
New York
$121K +$25.1K +4,974 +26%
DA
29
Doliver Advisors
Texas
$112K -$142K -28,009 -56%
CFSG
30
Community Financial Services Group
Vermont
$86K – – –
NL
31
NWAM LLC
Washington
$83K – – –
HCM
32
Hollencrest Capital Management
California
$76K – – –
SKK
33
Shepherd Kaplan Krochuk
Massachusetts
$70K – – –
PR
34
Payden & Rygel
California
$69K – – –
Royal Bank of Canada
35
Royal Bank of Canada
Ontario, Canada
$68K -$18K -3,556 -21%
PAS
36
Partnervest Advisory Services
California
$67K – – –
OC
37
Oarsman Capital
Wisconsin
$67K +$81 +16 +0.1%
PHS
38
Pekin Hardy Strauss
Illinois
$65K – – –
WA
39
WFG Advisors
Texas
$65K +$10.6K +2,092 +19%
CWM
40
Concert Wealth Management
California
$58K – – –
Citigroup
41
Citigroup
New York
$54K -$4.74K -937 -8%
Stifel Financial
42
Stifel Financial
Missouri
$51K +$51.5K +10,199 New
PNC Financial Services Group
43
PNC Financial Services Group
Pennsylvania
$33K +$33K +6,521 New
WA
44
Winfield Associates
Ohio
$30K – – –
SSB
45
Sandy Spring Bank
Maryland
$25K – – –
Deutsche Bank
46
Deutsche Bank
Germany
$24K – – –
Creative Planning
47
Creative Planning
Kansas
$17K +$10.1K +2,000 +136%
DADC
48
D.A. Davidson & Co
Montana
$17K +$17.2K +3,400 New
HCM
49
Horrell Capital Management
Arkansas
$16K – – –
WF
50
WealthTrust Fairport
Ohio
$16K +$16.5K +3,266 New
1
2
3

PIM Hedge Fund Activity: Q3 2014 in Review

61 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in Franklin Master Intermediate Income Trust (PIM) for Q3 2014, worth a combined $79.3M — up 2% from $77.7M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new PIM positions and 6 closed out — a net gain of 2 holders — while 20 added to existing stakes and 9 trimmed.

The largest buyer was Saba Capital Management, adding an estimated $1.61M. The largest seller was Jefferies Group, exiting entirely with an estimated $687K sold.

  • 61 institutional investors held Franklin Master Intermediate Income Trust (PIM) as of Q3 2014, up from 59 in Q2 2014.
  • Funds reported $79.3M of Franklin Master Intermediate Income Trust stock for Q3 2014, up 2% quarter-over-quarter.
  • 8 funds opened new Franklin Master Intermediate Income Trust positions in Q3 2014 and 6 closed out, a net change of +2 holders.
  • The largest Franklin Master Intermediate Income Trust buyer in Q3 2014 was Saba Capital Management, an estimated $1.61M added.
  • The largest Franklin Master Intermediate Income Trust seller in Q3 2014 was Jefferies Group, an estimated $687K sold.

Based on aggregated 13F filings for Q3 2014.