Chegg
CHGG
229 hedge funds and large institutions have $1.01B invested in Chegg in 2023 Q2 according to their latest regulatory filings, with 38 funds opening new positions, 72 increasing their positions, 81 reducing their positions, and 71 closing their positions.
5.67% more ownership
Funds ownership: 88.7% → 94.37% (+5.7%)
11% less repeat investments, than reductions
Existing positions increased: 72 | Existing positions reduced: 81
13% less funds holding
Funds holding: 264 → 229 (-35)
38% less call options, than puts
Call options by funds: $19.1M | Put options by funds: $30.6M
45% less capital invested
Capital invested by funds: $1.84B → $1.01B (-$837M)
46% less first-time investments, than exits
New positions opened: 38 | Existing positions closed: 71
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$100M |
| 2 |
SCH
Sylebra Capital (HK)
Hong Kong
|
+$64.3M |
| 3 |
BAM
Burgundy Asset Management
Toronto,
Ontario, Canada
|
+$21.4M |
| 4 |
Man Group
London,
United Kingdom
|
+$21.1M |
| 5 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$14.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital Research Global Investors
Los Angeles,
California
|
-$108M |
| 2 |
ClearBridge Investments
New York
|
-$47.1M |
| 3 |
Artisan Partners
Milwaukee,
Wisconsin
|
-$40.3M |
| 4 |
FAM
Fred Alger Management
New York
|
-$38.6M |
| 5 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
-$33.9M |
CHGG Hedge Fund Activity: Q2 2023 in Review
229 of the 6,383 institutional investors tracked by Wall St. Rank reported a position in Chegg (CHGG) for Q2 2023, worth a combined $1.01B — down 45% from $1.84B a quarter earlier.
Sellers outnumbered buyers: 71 funds closed out of CHGG and 38 opened new positions — a net loss of 33 holders — while 81 trimmed existing stakes and 72 added.
The largest buyer was Jane Street, adding an estimated $100M. The largest seller was Capital Research Global Investors, exiting entirely with an estimated $108M sold.
- 229 institutional investors held Chegg (CHGG) as of Q2 2023, down from 264 in Q1 2023.
- Funds reported $1.01B of Chegg stock for Q2 2023, down 45% quarter-over-quarter.
- 38 funds opened new Chegg positions in Q2 2023 and 71 closed out, a net change of -33 holders.
- The largest Chegg buyer in Q2 2023 was Jane Street, an estimated $100M added.
- The largest Chegg seller in Q2 2023 was Capital Research Global Investors, an estimated $108M sold.
Based on aggregated 13F filings for Q2 2023.