Special Opportunities Fund
SPE
30 hedge funds and large institutions have $77M invested in Special Opportunities Fund in 2014 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 14 increasing their positions, 5 reducing their positions, and 4 closing their positions.
180% more repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 5
125% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 4
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
37% more capital invested
Capital invested by funds: $56.1M → $77M (+$20.9M)
20% more funds holding
Funds holding: 25 → 30 (+5)
15.79% more ownership
Funds ownership: 47.6% → 63.39% (+16%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RVP
Relative Value Partners
Northbrook,
Illinois
|
+$12.9M |
| 2 |
HK
Horizon Kinetics
New York
|
+$10.9M |
| 3 |
CL
CSS LLC
Chicago,
Illinois
|
+$4.89M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$2.02M |
| 5 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$1.95M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$12.5M |
| 2 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
-$600K |
| 3 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
-$553K |
| 4 |
JG
Jefferies Group
New York
|
-$349K |
| 5 |
B
Baird
Milwaukee,
Wisconsin
|
-$234K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Bank of America
Charlotte,
North Carolina
| $44K | -$163K | -10,401 | -79% |
|
|
CFA
27
Carroll Financial Associates
Charlotte,
North Carolina
| $20K | – | – | – |
|
28
Royal Bank of Canada
Toronto,
Ontario, Canada
| $16K | +$1.85K | +118 | +13% |
|
29
US Bancorp
Minneapolis,
Minnesota
| $12K | +$10.1K | +648 | +413% |
|
|
TRCT
30
Tower Research Capital (TRC)
New York
| $7K | +$6.89K | +440 | New |
|
|
JG
31
Jefferies Group
New York
| – | -$349K | -20,936 | Closed |
|
|
B
32
Baird
Milwaukee,
Wisconsin
| – | -$234K | -14,016 | Closed |
|
33
Barclays
London,
United Kingdom
| – | -$40K | -2,435 | Closed |
|
|
YCM
34
Yakira Capital Management
Westport,
Connecticut
| – | -$81K | -1,372 | Closed |
|
SPE Hedge Fund Activity: Q1 2014 in Review
30 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Special Opportunities Fund (SPE) for Q1 2014, worth a combined $77M — up 37% from $56.1M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new SPE positions and 4 closed out — a net gain of 5 holders — while 14 added to existing stakes and 5 trimmed.
The largest buyer was Relative Value Partners, adding an estimated $12.9M. The largest seller was Karpus Investment Management, cutting an estimated $12.5M.
- 30 institutional investors held Special Opportunities Fund (SPE) as of Q1 2014, up from 25 in Q4 2013.
- Funds reported $77M of Special Opportunities Fund stock for Q1 2014, up 37% quarter-over-quarter.
- 9 funds opened new Special Opportunities Fund positions in Q1 2014 and 4 closed out, a net change of +5 holders.
- The largest Special Opportunities Fund buyer in Q1 2014 was Relative Value Partners, an estimated $12.9M added.
- The largest Special Opportunities Fund seller in Q1 2014 was Karpus Investment Management, an estimated $12.5M sold.
Based on aggregated 13F filings for Q1 2014.