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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$3.94M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$2.95M |
| 3 |
Invesco
Atlanta,
Georgia
|
+$1.28M |
| 4 |
COLIM
City of London Investment Management
London,
United Kingdom
|
+$989K |
| 5 |
PM
Penbrook Management
New York
|
+$804K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TC
TFS Capital
West Chester,
Pennsylvania
|
-$1.21M |
| 2 |
Barclays
London,
United Kingdom
|
-$961K |
| 3 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$554K |
| 4 |
SG Americas Securities
New York
|
-$307K |
| 5 |
Goldman Sachs
New York
|
-$246K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TRCT
51
Tower Research Capital (TRC)
New York
| $5K | -$156K | -30,860 | -97% |
|
|
DAM
52
Delta Asset Management
Memphis,
Tennessee
| $5K | – | – | – |
|
|
M
53
MOTCO
San Antonio,
Texas
| $4K | – | – | – |
|
54
Bank of Montreal
Toronto,
Ontario, Canada
| $3K | -$35.5K | -7,000 | -92% |
|
55
Envestnet Asset Management
Chicago,
Illinois
| $3K | – | – | – |
|
|
NES
56
New England Securities
New York
| $3K | – | – | – |
|
57
Fifth Third Bancorp
Cincinnati,
Ohio
| $3K | +$3.28K | +647 | New |
|
|
TC
58
TFS Capital
West Chester,
Pennsylvania
| – | -$1.21M | -240,471 | Closed |
|
|
59
Barclays
London,
United Kingdom
| – | -$961K | -192,122 | Closed |
|
|
RCM
60
Robinson Capital Management
Grosse Pointe Farms,
Michigan
| – | -$554K | -109,288 | Closed |
|
|
61
SG Americas Securities
New York
| – | -$307K | -60,956 | Closed |
|
|
PWAG
62
Polaris Wealth Advisory Group
San Rafael,
California
| – | -$10K | -1,975 | Closed |
|
|
BFEC
63
Benjamin F. Edwards & Company
St. Louis,
Missouri
| – | -$1K | -266 | Closed |
|
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.