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PIM

Franklin Master Intermediate Income Trust
PIM

48 hedge funds and large institutions have $81.3M invested in Franklin Master Intermediate Income Trust in 2015 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 10 increasing their positions, 15 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

1.06% more ownership

Funds ownership: 30.38% → 31.43% (+1.1%)

1% less capital invested

Capital invested by funds: $82.2M → $81.3M (-$926K)

6% less funds holding

Funds holding: 51 → 48 (-3)

33% less repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 15

50% less first-time investments, than exits

New positions opened: 3 | Existing positions closed: 6

Holders
48
Holders Change
-3
Holders Change %
-5.88%
% of All Funds
1.34%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
3
Increased
10
Reduced
15
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Wells Fargo
Wells Fargo
California
+$2.63M
2
SIA
Sit Investment Associates
Minnesota
+$1.2M
3
1CP
1607 Capital Partners
Virginia
+$1.14M
4
SCM
Saba Capital Management
New York
+$264K
5
AA
Ancora Advisors
Ohio
+$233K

Top Sellers

1
RCM
Rivernorth Capital Management
Florida
-$1.4M
2
PPA
Parametric Portfolio Associates
Washington
-$429K
3
Invesco
Invesco
Georgia
-$354K
4
DA
Doliver Advisors
Texas
-$216K
5
SCM
Sterneck Capital Management
Missouri
-$111K
Name Holding Trade Value Shares
Change 		Change in
Stake
SIA
1
Sit Investment Associates
Minnesota
$31.4M +$1.2M +258,317 +4%
Wells Fargo
2
Wells Fargo
California
$17.9M +$2.63M +566,681 +17%
1CP
3
1607 Capital Partners
Virginia
$12.1M +$1.14M +246,771 +10%
Invesco
4
Invesco
Georgia
$3.21M -$354K -76,305 -10%
PPA
5
Parametric Portfolio Associates
Washington
$3.03M -$429K -92,483 -12%
UBS Group
6
UBS Group
Switzerland
$2.49M +$117K +25,317 +5%
RCM
7
Rivernorth Capital Management
Florida
$2.35M -$1.4M -301,827 -37%
Envestnet Asset Management
8
Envestnet Asset Management
Illinois
$2.32M +$95.2K +20,537 +4%
PM
9
Penbrook Management
New York
$958K – – –
SCM
10
Sterneck Capital Management
Missouri
$896K -$111K -23,899 -11%
Bank of America
11
Bank of America
North Carolina
$593K -$63.5K -13,704 -9%
Morgan Stanley
12
Morgan Stanley
New York
$550K -$87.3K -18,834 -13%
AIG
13
American International Group
New York
$454K -$17.8K -3,845 -4%
SCM
14
Saba Capital Management
New York
$257K +$264K +56,893 New
LCM
15
Landscape Capital Management
New Jersey
$248K -$71.8K -15,488 -22%
LPL Financial
16
LPL Financial
California
$247K -$24.4K -5,259 -9%
Commonwealth Equity Services
17
Commonwealth Equity Services
Massachusetts
$227K +$25.8K +5,562 +12%
AA
18
Ancora Advisors
Ohio
$227K +$233K +50,256 New
IAMOG
19
Investors Asset Management of Georgia
Georgia
$174K – – –
COLIM
20
City of London Investment Management
United Kingdom
$146K – – –
WA
21
WealthTrust Axiom
Pennsylvania
$117K – – –
FIMG
22
Financial & Investment Management Group
Michigan
$113K – – –
RMDI
23
R.M. Davis Inc
Maine
$93K – – –
VKH
24
Virtu KCG Holdings
New York
$88K +$90K +19,413 New
CNB
25
City National Bank
California
$87K – – –
1
2 3

PIM Hedge Fund Activity: Q3 2015 in Review

48 of the 3,582 institutional investors tracked by Wall St. Rank reported a position in Franklin Master Intermediate Income Trust (PIM) for Q3 2015, worth a combined $81.3M — down 1.1% from $82.2M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of PIM and 3 opened new positions — a net loss of 3 holders — while 15 trimmed existing stakes and 10 added.

The largest buyer was Wells Fargo, adding an estimated $2.63M. The largest seller was Rivernorth Capital Management, cutting an estimated $1.4M.

  • 48 institutional investors held Franklin Master Intermediate Income Trust (PIM) as of Q3 2015, down from 51 in Q2 2015.
  • Funds reported $81.3M of Franklin Master Intermediate Income Trust stock for Q3 2015, down 1.1% quarter-over-quarter.
  • 3 funds opened new Franklin Master Intermediate Income Trust positions in Q3 2015 and 6 closed out, a net change of -3 holders.
  • The largest Franklin Master Intermediate Income Trust buyer in Q3 2015 was Wells Fargo, an estimated $2.63M added.
  • The largest Franklin Master Intermediate Income Trust seller in Q3 2015 was Rivernorth Capital Management, an estimated $1.4M sold.

Based on aggregated 13F filings for Q3 2015.