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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
AIG
51
American International Group
New York
$12.6K – – –
MFS
52
MSI Financial Services
Massachusetts
$7K – – –
PMFA
53
Plante Moran Financial Advisors
Michigan
$7K +$6.57K +1,300 New
AAM
54
Advisors Asset Management
Colorado
$5K – – –
DAM
55
Delta Asset Management
Tennessee
$5K – – –
M
56
MOTCO
Texas
$4K – – –
Envestnet Asset Management
57
Envestnet Asset Management
Illinois
$3K – – –
Fifth Third Bancorp
58
Fifth Third Bancorp
Ohio
$3K – – –
NES
59
New England Securities
New York
$3K – – –
NFG
60
Next Financial Group
Texas
$3K – – –
JG
61
Jefferies Group
New York
– -$687K -133,419 Closed
SG Americas Securities
62
SG Americas Securities
New York
– -$365K -70,794 Closed
Citadel Advisors
63
Citadel Advisors
Florida
– -$151K -29,328 Closed
US Bancorp
64
US Bancorp
Minnesota
– -$11K -2,219 Closed
DBT
65
Dubuque Bank & Trust
Iowa
– -$10K -1,900 Closed
Bank of Montreal
66
Bank of Montreal
Ontario, Canada
– -$3K -574 Closed
Barclays
67
Barclays
United Kingdom
– +$20 +4 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.