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SOR

Source Capital
SOR

45 hedge funds and large institutions have $66.5M invested in Source Capital in 2019 Q4 according to their latest regulatory filings, with 4 funds opening new positions, 16 increasing their positions, 15 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

19% more capital invested

Capital invested by funds: $55.7M → $66.5M (+$10.8M)

1.48% more ownership

Funds ownership: 18.72% → 20.2% (+1.5%)

7% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 15

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

10% less funds holding

Funds holding: 50 → 45 (-5)

56% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 9

Holders
45
Holders Change
-5
Holders Change %
-10%
% of All Funds
0.89%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
4
Increased
16
Reduced
15
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$5.18M
2
TJHA
Thomas J. Herzfeld Advisors
Florida
+$713K
3
First Trust Advisors
First Trust Advisors
Illinois
+$419K
4
Walleye Capital
Walleye Capital
New York
+$151K
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$140K

Top Sellers

Rank Fund Capital Flow
1
SFS
Shaker Financial Services
Virginia
-$1.31M
2
Cohen & Steers
Cohen & Steers
New York
-$1.01M
3
HighTower Advisors
HighTower Advisors
Illinois
-$1,000K
4
CRC
Curi RMB Capital
Illinois
-$742K
5
Geode Capital Management
Geode Capital Management
Massachusetts
-$550K
Name Holding Trade Value Shares
Change 		Change in
Stake
PNC Financial Services Group
26
PNC Financial Services Group
Pennsylvania
$370K – – –
BCM
27
Breiter Capital Management
Florida
$312K – – –
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$310K +$9.03K +240 +3%
AA
29
AQR Arbitrage
Connecticut
$304K +$9.11K +242 +3%
FAIM
30
Financial Advocates Investment Management
Washington
$282K -$22.2K -590 -7%
Walleye Trading
31
Walleye Trading
New York
$271K -$11.3K -300 -4%
BS
32
Boenning & Scattergood
Pennsylvania
$269K -$29.2K -775 -10%
WAM
33
Wolverine Asset Management
Illinois
$245K -$491K -13,034 -67%
GC
34
Guggenheim Capital
Illinois
$223K -$149K -3,959 -41%
LTFS
35
Ladenburg Thalmann Financial Services
Florida
$99K +$12.7K +338 +15%
Lazard Asset Management
36
Lazard Asset Management
New York
$47K +$46.2K +1,227 New
AG
37
Advisor Group
Arizona
$45K +$40.6K +1,078 +1,540%
Citigroup
38
Citigroup
New York
$38K +$75 +2 +0.2%
PCG
39
Private Capital Group
Connecticut
$28K – – –
US Bancorp
40
US Bancorp
Minnesota
$28K – – –
TA
41
TFG Advisers
Michigan
$14K +$14.2K +378 New
BBPWM
42
Blue Bell Private Wealth Management
Pennsylvania
$12K +$11.3K +300 New
First Manhattan
43
First Manhattan
New York
$9K – – –
JFGIW
44
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$2K – – –
MRCM
45
M&R Capital Management
New Jersey
$2K – – –
Cohen & Steers
46
Cohen & Steers
New York
– -$1.01M -27,604 Closed
CRC
47
Curi RMB Capital
Illinois
– -$742K -20,315 Closed
Susquehanna International Group
48
Susquehanna International Group
Pennsylvania
– -$310K -8,485 Closed
MC
49
Matisse Capital
Oregon
– -$220K -6,020 Closed
QCIG
50
Quad-Cities Investment Group
Iowa
– -$156K -4,272 Closed
1
2
3

SOR Hedge Fund Activity: Q4 2019 in Review

45 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in Source Capital (SOR) for Q4 2019, worth a combined $66.5M — up 19% from $55.7M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of SOR and 4 opened new positions — a net loss of 5 holders — while 15 trimmed existing stakes and 16 added.

The largest buyer was Rivernorth Capital Management, adding an estimated $5.18M. The largest seller was Shaker Financial Services, cutting an estimated $1.31M.

  • 45 institutional investors held Source Capital (SOR) as of Q4 2019, down from 50 in Q3 2019.
  • Funds reported $66.5M of Source Capital stock for Q4 2019, up 19% quarter-over-quarter.
  • 4 funds opened new Source Capital positions in Q4 2019 and 9 closed out, a net change of -5 holders.
  • The largest Source Capital buyer in Q4 2019 was Rivernorth Capital Management, an estimated $5.18M added.
  • The largest Source Capital seller in Q4 2019 was Shaker Financial Services, an estimated $1.31M sold.

Based on aggregated 13F filings for Q4 2019.