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State Street SPDR Nuveen ICE Municipal Bond ETF
TFI

101 hedge funds and large institutions have $531M invested in State Street SPDR Nuveen ICE Municipal Bond ETF in 2013 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 28 increasing their positions, 39 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.96% less ownership

Funds ownership: 29.73% → 28.77% (-0.96%)

5% less funds holding

Funds holding: 106 → 101 (-5)

9% less capital invested

Capital invested by funds: $586M → $531M (-$55.1M)

10% less first-time investments, than exits

New positions opened: 18 | Existing positions closed: 20

28% less repeat investments, than reductions

Existing positions increased: 28 | Existing positions reduced: 39

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

Holders
101
Holders Change
-5
Holders Change %
-4.72%
% of All Funds
2.93%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.06%
New
18
Increased
28
Reduced
39
Closed
20
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
B
Bailard
California
+$6.44M
2
Jane Street
Jane Street
New York
+$5.96M
3
Wells Fargo
Wells Fargo
California
+$4.23M
4
Fisher Asset Management
Fisher Asset Management
Washington
+$3.79M
5
Morgan Stanley
Morgan Stanley
New York
+$3.67M

Top Sellers

1
KIM
Karpus Investment Management
New York
-$34.4M
2
Deutsche Bank
Deutsche Bank
Germany
-$20.6M
3
PAG
Pinnacle Advisory Group
Maryland
-$8.19M
4
AssetMark Inc
AssetMark Inc
California
-$2.98M
5
Barclays
Barclays
United Kingdom
-$2.46M
Name Holding Trade Value Shares
Change 		Change in
Stake
TIM
26
Tortoise Investment Management
New York
$2.86M -$625K -13,700 -18%
NMIS
27
Northwestern Mutual Investment Services
Wisconsin
$2.66M +$2.69M +58,975 New
CHA
28
Cedar Hill Associates
Illinois
$2.58M -$424K -9,300 -14%
BCI
29
Brinker Capital Investments
Pennsylvania
$2.45M +$242K +5,296 +11%
VA
30
Valmark Advisers
Ohio
$1.91M -$67.6K -1,482 -3%
BIT
31
BlackRock Institutional Trust
California
$1.82M -$466K -10,218 -20%
GOCM
32
Grey Owl Capital Management
Virginia
$1.71M +$1.73M +37,835 New
MAA
33
Managed Account Advisors
New Jersey
$1.49M -$196K -4,296 -12%
First Trust Advisors
34
First Trust Advisors
Illinois
$1.43M -$270K -5,915 -16%
SFG
35
Sage Financial Group
Pennsylvania
$1.41M +$1.43M +31,329 New
CFB
36
Cullen/Frost Bankers
Texas
$1.32M +$197K +4,317 +17%
FBFS
37
First Business Financial Services
Wisconsin
$1.16M +$1.18M +25,798 New
LTFS
38
Ladenburg Thalmann Financial Services
Florida
$1.13M +$831K +18,221 +267%
CFN
39
Cordasco Financial Network
Florida
$1.09M +$1.1M +24,128 New
PSW
40
Portfolio Strategies (Washington)
Washington
$1.01M +$1.02M +22,340 New
SIM
41
Sigma Investment Management
Oregon
$971K – – –
HighTower Advisors
42
HighTower Advisors
Illinois
$938K -$560K -12,273 -37%
BUB
43
BBVA USA Bancshares
Texas
$894K +$230K +5,042 +34%
HPC
44
HM Payson & Co
Maine
$893K +$111K +2,431 +14%
FHC
45
First Heartland Consultants
Missouri
$854K +$864K +18,937 New
AW
46
Alpha Windward
Massachusetts
$847K +$58.1K +1,275 +7%
PI
47
Placemark Investments
Illinois
$836K -$2.14M -47,025 -72%
SF
48
Synovus Financial
Georgia
$806K +$130K +2,850 +19%
RCM
49
Rotella Capital Management
Washington
$764K +$344K +7,550 +80%
AI
50
Atria Investments
North Carolina
$763K +$431K +9,448 +126%
1
2
3 4 5

TFI Hedge Fund Activity: Q4 2013 in Review

101 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) for Q4 2013, worth a combined $531M — down 9.4% from $586M a quarter earlier.

Sellers outnumbered buyers: 20 funds closed out of TFI and 18 opened new positions — a net loss of 2 holders — while 39 trimmed existing stakes and 28 added.

The largest buyer was Bailard, opening a new position worth an estimated $6.44M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $34.4M sold.

  • 101 institutional investors held State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) as of Q4 2013, down from 106 in Q3 2013.
  • Funds reported $531M of State Street SPDR Nuveen ICE Municipal Bond ETF stock for Q4 2013, down 9.4% quarter-over-quarter.
  • 18 funds opened new State Street SPDR Nuveen ICE Municipal Bond ETF positions in Q4 2013 and 20 closed out, a net change of -2 holders.
  • The largest State Street SPDR Nuveen ICE Municipal Bond ETF buyer in Q4 2013 was Bailard, an estimated $6.44M added.
  • The largest State Street SPDR Nuveen ICE Municipal Bond ETF seller in Q4 2013 was Karpus Investment Management, an estimated $34.4M sold.

Based on aggregated 13F filings for Q4 2013.