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Copa Holdings
CPA

167 hedge funds and large institutions have $1.23B invested in Copa Holdings in 2020 Q1 according to their latest regulatory filings, with 31 funds opening new positions, 66 increasing their positions, 50 reducing their positions, and 75 closing their positions.

New
Increased
Maintained
Reduced
Closed

32% more repeat investments, than reductions

Existing positions increased: 66 | Existing positions reduced: 50

4% less call options, than puts

Call options by funds: $12.3M | Put options by funds: $12.8M

4.73% less ownership

Funds ownership: 91.63% → 86.9% (-4.7%)

14% less funds holding in top 10

Funds holding in top 10: 7 → 6 (-1)

22% less funds holding

Funds holding: 213 → 167 (-46)

59% less first-time investments, than exits

New positions opened: 31 | Existing positions closed: 75

60% less capital invested

Capital invested by funds: $3.1B → $1.23B (-$1.87B)

Holders
167
Holders Change
-46
Holders Change %
-21.6%
% of All Funds
3.68%
Holding in Top 10
6
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-14.29%
% of All Funds
0.13%
New
31
Increased
66
Reduced
50
Closed
75
Calls
$12.3M
Puts
$12.8M
Net Calls
-$465K
Net Calls Change
-$3.88M

Top Buyers

Rank Fund Capital Flow
1
SIM
Sprucegrove Investment Management
Ontario, Canada
+$60.7M
2
BlackRock
BlackRock
New York
+$43.9M
3
BIP
Brandes Investment Partners
California
+$40M
4
JP Morgan Chase
JP Morgan Chase
New York
+$35M
5
Renaissance Technologies
Renaissance Technologies
New York
+$22.8M

Top Sellers

Rank Fund Capital Flow
1
Fidelity International
Fidelity International
Bermuda
-$58.1M
2
MWA
Marshall Wace Asia
Hong Kong
-$53.6M
3
Citadel Advisors
Citadel Advisors
Florida
-$36.5M
4
Ameriprise
Ameriprise
Minnesota
-$31.9M
5
AI
Axiom Investors
Connecticut
-$31.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
MWNA
176
Marshall Wace North America
New York
– -$4.71M -43,612 Closed
Squarepoint
177
Squarepoint
New York
– -$4.43M -41,003 Closed
NIP
178
Nicholas Investment Partners
California
– -$4.01M -37,137 Closed
Verition Fund Management
179
Verition Fund Management
Connecticut
– -$3.73M -34,537 Closed
MAM
180
Martingale Asset Management
Massachusetts
– -$3.48M -32,158 Closed
TRSOTSOK
181
Teachers Retirement System of the State of Kentucky
Kentucky
– -$3.08M -28,500 Closed
TAM
182
Todd Asset Management
Kentucky
– -$3.08M -28,500 Closed
MCM
183
Moerus Capital Management
New York
– -$2.5M -23,121 Closed
Public Sector Pension Investment Board (PSP Investments)
184
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
– -$2.44M -22,586 Closed
Marshall Wace
185
Marshall Wace
United Kingdom
– -$2.31M -21,415 Closed
OAM
186
Oxford Asset Management
United Kingdom
– -$1.95M -18,051 Closed
NEI
187
Northwest & Ethical Investments
Ontario, Canada
– -$1.23M -11,351 Closed
Hudson Bay Capital Management
188
Hudson Bay Capital Management
Connecticut
– -$1.08M -10,000 Closed
Bank of Nova Scotia
189
Bank of Nova Scotia
Ontario, Canada
– -$1.06M -9,800 Closed
MCM
190
Mork Capital Management
California
– -$1.06M -9,800 Closed
KC
191
Kingfisher Capital
North Carolina
– -$862K -7,977 Closed
PP
192
Paloma Partners
Connecticut
– -$751K -6,951 Closed
Principal Financial Group
193
Principal Financial Group
Iowa
– -$696K -6,443 Closed
GCP
194
GSA Capital Partners
United Kingdom
– -$653K -6,041 Closed
SFI
195
Susquehanna Fundamental Investments
Pennsylvania
– -$648K -6,000 Closed
JG
196
Jefferies Group
New York
– -$626K -5,788 Closed
FHB
197
First Hawaiian Bank
Hawaii
– -$590K -5,455 Closed
Voloridge Investment Management
198
Voloridge Investment Management
Florida
– -$587K -5,432 Closed
State of Wisconsin Investment Board
199
State of Wisconsin Investment Board
Wisconsin
– -$480K -4,437 Closed
SEC
200
Seven Eight Capital
New York
– -$448K -4,142 Closed
6 7
8
9 10

CPA Hedge Fund Activity: Q1 2020 in Review

167 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in Copa Holdings (CPA) for Q1 2020, worth a combined $1.23B — down 60% from $3.1B a quarter earlier.

Sellers outnumbered buyers: 75 funds closed out of CPA and 31 opened new positions — a net loss of 44 holders — while 50 trimmed existing stakes and 66 added.

The largest buyer was Sprucegrove Investment Management, adding an estimated $60.7M. The largest seller was Fidelity International, cutting an estimated $58.1M.

  • 167 institutional investors held Copa Holdings (CPA) as of Q1 2020, down from 213 in Q4 2019.
  • Funds reported $1.23B of Copa Holdings stock for Q1 2020, down 60% quarter-over-quarter.
  • 31 funds opened new Copa Holdings positions in Q1 2020 and 75 closed out, a net change of -44 holders.
  • The largest Copa Holdings buyer in Q1 2020 was Sprucegrove Investment Management, an estimated $60.7M added.
  • The largest Copa Holdings seller in Q1 2020 was Fidelity International, an estimated $58.1M sold.

Based on aggregated 13F filings for Q1 2020.