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Quad
QUAD

106 hedge funds and large institutions have $648M invested in Quad in 2013 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 30 increasing their positions, 48 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

665% more call options, than puts

Call options by funds: $10.5M | Put options by funds: $1.37M

3.63% less ownership

Funds ownership: 73.98% → 70.35% (-3.6%)

7% less funds holding

Funds holding: 114 → 106 (-8)

14% less capital invested

Capital invested by funds: $753M → $648M (-$105M)

25% less funds holding in top 10

Funds holding in top 10: 4 → 3 (-1)

38% less repeat investments, than reductions

Existing positions increased: 30 | Existing positions reduced: 48

44% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 18

Holders
106
Holders Change
-8
Holders Change %
-7.02%
% of All Funds
3.08%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.09%
New
10
Increased
30
Reduced
48
Closed
18
Calls
$10.5M
Puts
$1.37M
Net Calls
+$9.09M
Net Calls Change
+$2.21M

Top Buyers

1
GXMC
Global X Management Company
New York
+$8.36M
2
AAM
Advisors Asset Management
Colorado
+$3.69M
3
BNP Paribas Asset Management
BNP Paribas Asset Management
France
+$2.67M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$1.88M
5
CCMH
Cornerstone Capital Management Holdings
New York
+$1.86M

Top Sellers

1
Invesco
Invesco
Georgia
-$8.9M
2
ERM
Elm Ridge Management
New York
-$8.22M
3
Morgan Stanley
Morgan Stanley
New York
-$4.46M
4
KCM
KSA Capital Management
New Jersey
-$4.23M
5
GC
Guggenheim Capital
Illinois
-$3.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
Fidelity Investments
1
Fidelity Investments
Massachusetts
$173M – – –
CP
2
Centerbridge Partners
New York
$62.1M – – –
AGC
3
Angelo Gordon & Co
New York
$57.3M – – –
Vanguard Group
4
Vanguard Group
Pennsylvania
$37.2M +$1.88M +66,223 +5%
JP Morgan Chase
5
JP Morgan Chase
New York
$31.6M -$1.97M -69,669 -6%
ERM
6
Elm Ridge Management
New York
$30.3M -$8.22M -289,971 -21%
BIT
7
BlackRock Institutional Trust
California
$18.3M -$132K -4,668 -0.7%
BFA
8
BlackRock Fund Advisors
California
$17.7M -$653K -23,040 -3%
Dimensional Fund Advisors
9
Dimensional Fund Advisors
Texas
$15.4M +$1.23M +43,250 +8%
Artisan Partners
10
Artisan Partners
Wisconsin
$14.6M -$3.34M -117,903 -18%
LSV Asset Management
11
LSV Asset Management
Illinois
$14M – – –
State Street
12
State Street
Massachusetts
$13.6M -$29K -1,024 -0.2%
Bank of New York Mellon
13
Bank of New York Mellon
New York
$12.4M +$211K +7,459 +2%
Northern Trust
14
Northern Trust
Illinois
$11.3M +$143K +5,043 +1%
Wells Fargo
15
Wells Fargo
California
$10.1M -$539K -19,012 -5%
Invesco
16
Invesco
Georgia
$9.41M -$8.9M -314,163 -48%
GXMC
17
Global X Management Company
New York
$8.03M +$8.36M +295,025 New
Acadian Asset Management
18
Acadian Asset Management
Massachusetts
$7.76M +$1.15M +40,521 +17%
D.E. Shaw & Co
19
D.E. Shaw & Co
New York
$4.82M +$527K +18,593 +12%
First Trust Advisors
20
First Trust Advisors
Illinois
$4.81M -$40K -1,413 -0.8%
California Public Employees Retirement System
21
California Public Employees Retirement System
California
$4.04M -$232K -8,200 -5%
PPA
22
Parametric Portfolio Associates
Washington
$3.94M +$213K +7,512 +5%
AAM
23
Advisors Asset Management
Colorado
$3.89M +$3.69M +130,239 +1,022%
Goldman Sachs
24
Goldman Sachs
New York
$3.73M -$578K -20,390 -13%
Charles Schwab
25
Charles Schwab
California
$3.56M +$568K +20,027 +18%
1
2 3 4 5

QUAD Hedge Fund Activity: Q4 2013 in Review

106 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Quad (QUAD) for Q4 2013, worth a combined $648M — down 14% from $753M a quarter earlier.

Sellers outnumbered buyers: 18 funds closed out of QUAD and 10 opened new positions — a net loss of 8 holders — while 48 trimmed existing stakes and 30 added.

The largest buyer was Global X Management Company, opening a new position worth an estimated $8.36M. The largest seller was Invesco, cutting an estimated $8.9M.

  • 106 institutional investors held Quad (QUAD) as of Q4 2013, down from 114 in Q3 2013.
  • Funds reported $648M of Quad stock for Q4 2013, down 14% quarter-over-quarter.
  • 10 funds opened new Quad positions in Q4 2013 and 18 closed out, a net change of -8 holders.
  • The largest Quad buyer in Q4 2013 was Global X Management Company, an estimated $8.36M added.
  • The largest Quad seller in Q4 2013 was Invesco, an estimated $8.9M sold.

Based on aggregated 13F filings for Q4 2013.