Source Capital
SOR
48 hedge funds and large institutions have $22.9M invested in Source Capital in 2016 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 16 increasing their positions, 12 reducing their positions, and 20 closing their positions.
33% more repeat investments, than reductions
Existing positions increased: 16 | Existing positions reduced: 12
4.47% less ownership
Funds ownership: 11.8% → 7.34% (-4.5%)
19% less funds holding
Funds holding: 59 → 48 (-11)
55% less first-time investments, than exits
New positions opened: 9 | Existing positions closed: 20
66% less capital invested
Capital invested by funds: $67.7M → $22.9M (-$44.8M)
100% less funds holding in top 10
Funds holding in top 10: 3 → 0 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PC
Pecaut & Co
Sioux City,
Iowa
|
+$3.71M |
| 2 |
Bank of Nova Scotia
Toronto,
Ontario, Canada
|
+$1.99M |
| 3 |
Cohen & Steers
New York
|
+$1.18M |
| 4 |
DA
Doliver Advisors
Houston,
Texas
|
+$757K |
| 5 |
MAA
Mraz Amerine & Associates
Modesto,
California
|
+$481K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$7.92M |
| 2 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
-$7.73M |
| 3 |
Morgan Stanley
New York
|
-$4.62M |
| 4 |
Wells Fargo
San Francisco,
California
|
-$2.91M |
| 5 |
First Trust Advisors
Wheaton,
Illinois
|
-$2.17M |
SOR Hedge Fund Activity: Q1 2016 in Review
48 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Source Capital (SOR) for Q1 2016, worth a combined $22.9M — down 66% from $67.7M a quarter earlier.
Sellers outnumbered buyers: 20 funds closed out of SOR and 9 opened new positions — a net loss of 11 holders — while 12 trimmed existing stakes and 16 added.
The largest buyer was Pecaut & Co, opening a new position worth an estimated $3.71M. The largest seller was Thomas J. Herzfeld Advisors, cutting an estimated $7.92M.
- 48 institutional investors held Source Capital (SOR) as of Q1 2016, down from 59 in Q4 2015.
- Funds reported $22.9M of Source Capital stock for Q1 2016, down 66% quarter-over-quarter.
- 9 funds opened new Source Capital positions in Q1 2016 and 20 closed out, a net change of -11 holders.
- The largest Source Capital buyer in Q1 2016 was Pecaut & Co, an estimated $3.71M added.
- The largest Source Capital seller in Q1 2016 was Thomas J. Herzfeld Advisors, an estimated $7.92M sold.
Based on aggregated 13F filings for Q1 2016.