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SOR

Source Capital
SOR

59 hedge funds and large institutions have $67.7M invested in Source Capital in 2015 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 12 increasing their positions, 13 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

200% more funds holding in top 10

Funds holding in top 10: 1 → 3 (+2)

200% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 6

73% more capital invested

Capital invested by funds: $39M → $67.7M (+$28.7M)

26% more funds holding

Funds holding: 47 → 59 (+12)

5.15% more ownership

Funds ownership: 6.65% → 11.8% (+5.1%)

8% less repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 13

Holders
59
Holders Change
+12
Holders Change %
+25.53%
% of All Funds
1.55%
Holding in Top 10
3
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+200%
% of All Funds
0.08%
New
18
Increased
12
Reduced
13
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BI
Bulldog Investors
New Jersey
+$14.4M
2
TJHA
Thomas J. Herzfeld Advisors
Florida
+$13.1M
3
DA
Doliver Advisors
Texas
+$2.76M
4
LCM
Landscape Capital Management
New Jersey
+$1.27M
5
RCM
Rivernorth Capital Management
Florida
+$1M

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$1.93M
2
RJA
Raymond James & Associates
Florida
-$1.52M
3
Wells Fargo
Wells Fargo
California
-$1.39M
4
1832 Asset Management
1832 Asset Management
Ontario, Canada
-$1.36M
5
RJFSA
Raymond James Financial Services Advisors
Florida
-$1.02M
Name Holding Trade Value Shares
Change 		Change in
Stake
Commonwealth Equity Services
26
Commonwealth Equity Services
Massachusetts
$418K +$4.63K +68 +1%
LI
27
Lafayette Investments
Maryland
$405K +$9.05K +133 +2%
Squarepoint
28
Squarepoint
New York
$398K +$409K +6,000 New
NL
29
NWAM LLC
Washington
$329K -$2.38K -35 -0.7%
VKH
30
Virtu KCG Holdings
New York
$312K +$320K +4,706 New
PNC Financial Services Group
31
PNC Financial Services Group
Pennsylvania
$310K -$12.1K -178 -4%
WHRC
32
W.H. Reaves & Co
New Jersey
$301K +$310K +4,550 New
FC
33
Fiduciary Counselling
Minnesota
$293K -$375K -5,503 -55%
Creative Planning
34
Creative Planning
Kansas
$239K +$40.9K +600 +20%
S
35
SignatureFD
Georgia
$232K +$238K +3,500 New
CBB
36
Citizens Business Bank
California
$216K – – –
TC
37
Telemus Capital
Michigan
$215K – – –
SHA
38
Smith Hayes Advisers
Nebraska
$204K – – –
KTC
39
Kistler-Tiffany Companies
Pennsylvania
$174K – – –
AA
40
Apriem Advisors
California
$166K – – –
Citigroup
41
Citigroup
New York
$144K +$204 +3 +0.1%
First Manhattan
42
First Manhattan
New York
$139K – – –
FMA
43
FNY Managed Accounts
New York
$113K +$116K +1,700 New
CAL
44
Capital Advisors Ltd
Ohio
$98K – – –
MFS
45
MSI Financial Services
Massachusetts
$82K -$25K -367 -23%
LTFS
46
Ladenburg Thalmann Financial Services
Florida
$75K -$5.11K -75 -6%
BBPWM
47
Blue Bell Private Wealth Management
Pennsylvania
$56K +$53.3K +783 +1,169%
RAM
48
Riggs Asset Management
Pennsylvania
$53K – – –
IA
49
IFP Advisors
Florida
$39K +$40.2K +590 New
TRCT
50
Tower Research Capital (TRC)
New York
$36K +$37.2K +547 New
1
2
3

SOR Hedge Fund Activity: Q4 2015 in Review

59 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Source Capital (SOR) for Q4 2015, worth a combined $67.7M — up 73% from $39M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new SOR positions and 6 closed out — a net gain of 12 holders — while 12 added to existing stakes and 13 trimmed.

The largest buyer was Bulldog Investors, opening a new position worth an estimated $14.4M. The largest seller was Morgan Stanley, cutting an estimated $1.93M.

  • 59 institutional investors held Source Capital (SOR) as of Q4 2015, up from 47 in Q3 2015.
  • Funds reported $67.7M of Source Capital stock for Q4 2015, up 73% quarter-over-quarter.
  • 18 funds opened new Source Capital positions in Q4 2015 and 6 closed out, a net change of +12 holders.
  • The largest Source Capital buyer in Q4 2015 was Bulldog Investors, an estimated $14.4M added.
  • The largest Source Capital seller in Q4 2015 was Morgan Stanley, an estimated $1.93M sold.

Based on aggregated 13F filings for Q4 2015.