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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

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

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
SIA
1
Sit Investment Associates
Minnesota
$21.6M +$2.57K +508 +0%
1CP
2
1607 Capital Partners
Virginia
$12.4M +$1.38M +273,713 +12%
SCM
3
Saba Capital Management
New York
$11M +$1.61M +318,959 +17%
Wells Fargo
4
Wells Fargo
California
$10.5M -$287K -56,793 -3%
Invesco
5
Invesco
Georgia
$4.51M +$173K +34,246 +4%
RCM
6
Rivernorth Capital Management
Florida
$4.29M +$592K +117,093 +16%
PPA
7
Parametric Portfolio Associates
Washington
$2.68M +$176K +34,893 +7%
U
8
UBS
Switzerland
$1.96M -$70.9K -14,026 -3%
SCM
9
Sterneck Capital Management
Missouri
$1.24M -$59.9K -11,850 -5%
Morgan Stanley
10
Morgan Stanley
New York
$1.01M +$61.6K +12,183 +6%
Bank of America
11
Bank of America
North Carolina
$974K +$22.9K +4,539 +2%
COLIM
12
City of London Investment Management
United Kingdom
$940K – – –
PM
13
Penbrook Management
New York
$848K +$50.5K +10,000 +6%
RJFSA
14
Raymond James Financial Services Advisors
Florida
$612K +$195K +38,655 +47%
RVP
15
Relative Value Partners
Illinois
$458K – – –
LPL Financial
16
LPL Financial
California
$404K -$18.2K -3,611 -4%
TJHA
17
Thomas J. Herzfeld Advisors
Florida
$385K +$30.8K +6,100 +9%
FIMG
18
Financial & Investment Management Group
Michigan
$337K -$8.34K -1,650 -2%
CNB
19
City National Bank
California
$270K +$174K +34,494 +180%
Commonwealth Equity Services
20
Commonwealth Equity Services
Massachusetts
$232K +$19K +3,765 +9%
RJA
21
Raymond James & Associates
Florida
$206K +$207K +40,951 New
RMDI
22
R.M. Davis Inc
Maine
$205K +$104K +20,657 +103%
Cambridge Investment Research Advisors
23
Cambridge Investment Research Advisors
Iowa
$178K -$17.7K -3,500 -9%
LCM
24
Landscape Capital Management
New Jersey
$177K +$5.46K +1,081 +3%
SFS
25
Shaker Financial Services
Virginia
$171K +$172K +34,002 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.