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Covenant Logistics
CVLG

91 hedge funds and large institutions have $275M invested in Covenant Logistics in 2016 Q1 according to their latest regulatory filings, with 21 funds opening new positions, 27 increasing their positions, 26 reducing their positions, and 25 closing their positions.

New
Increased
Maintained
Reduced
Closed

32% more capital invested

Capital invested by funds: $208M → $275M (+$66.8M)

4% more repeat investments, than reductions

Existing positions increased: 27 | Existing positions reduced: 26

5% less funds holding

Funds holding: 96 → 91 (-5)

16% less first-time investments, than exits

New positions opened: 21 | Existing positions closed: 25

Holders
91
Holders Change
-5
Holders Change %
-5.21%
% of All Funds
2.42%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.03%
New
21
Increased
27
Reduced
26
Closed
25
Calls
$2K
Puts
–
Net Calls
+$2K
Net Calls Change
+$2K

Top Buyers

1
AllianceBernstein
AllianceBernstein
Tennessee
+$16.4M
2
SCM
SG Capital Management
Illinois
+$10.6M
3
Fidelity Investments
Fidelity Investments
Massachusetts
+$6.35M
4
SAM
Scopus Asset Management
New York
+$2.97M
5
PC
Pier Capital
Connecticut
+$2.29M

Top Sellers

1
PCM
Portolan Capital Management
Massachusetts
-$6.96M
2
RIM
Rainier Investment Management
Washington
-$6.2M
3
BCM
BlueCrest Capital Management
Jersey
-$4.37M
4
CRCP
Copper Rock Capital Partners
Massachusetts
-$3.58M
5
Renaissance Technologies
Renaissance Technologies
New York
-$3.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
PC
26
Pier Capital
Connecticut
$2.75M +$2.29M +227,588 New
Allianz Asset Management
27
Allianz Asset Management
Germany
$2.64M -$23.4K -2,324 -1%
RI
28
Redwood Investments
Massachusetts
$2.51M +$389K +38,588 +23%
DCM
29
Driehaus Capital Management
Illinois
$2.42M +$2.01M +199,690 New
RFC
30
Russell Frank Company
Washington
$2.36M +$1.96M +194,816 New
SCM
31
Southport Capital Management
Tennessee
$2.32M – – –
RIM
32
Ranger Investment Management
Texas
$1.57M -$233K -23,140 -15%
Bank of New York Mellon
33
Bank of New York Mellon
New York
$1.51M +$96.9K +9,614 +8%
CAM
34
ClariVest Asset Management
California
$1.48M +$49.5K +4,914 +4%
California Public Employees Retirement System
35
California Public Employees Retirement System
California
$1.43M +$375K +37,200 +46%
GCP
36
GSA Capital Partners
United Kingdom
$1.28M -$627K -62,212 -37%
Marshall Wace
37
Marshall Wace
United Kingdom
$1.07M +$893K +88,570 New
BIM
38
BlackRock Investment Management
Delaware
$1.02M +$16.8K +1,670 +2%
New York State Common Retirement Fund
39
New York State Common Retirement Fund
New York
$946K – – –
EI
40
EAM Investors
California
$938K +$782K +77,528 New
TCIM
41
TIAA CREF Investment Management
New York
$881K -$434K -43,018 -37%
WCM
42
Wedge Capital Management
North Carolina
$830K -$179K -17,800 -21%
PPA
43
Parametric Portfolio Associates
Washington
$794K -$103K -10,264 -14%
AQR Capital Management
44
AQR Capital Management
Connecticut
$784K -$1.23M -121,794 -65%
LSV Asset Management
45
LSV Asset Management
Illinois
$735K -$340K -33,768 -36%
NIM
46
NXG Investment Management
Texas
$732K +$610K +60,534 New
HCM
47
Horrell Capital Management
Arkansas
$653K +$4.4K +436 +0.8%
Victory Capital Management
48
Victory Capital Management
Texas
$648K +$540K +53,576 New
Commonwealth Equity Services
49
Commonwealth Equity Services
Massachusetts
$618K -$71.9K -7,136 -12%
California State Teachers Retirement System (CalSTRS)
50
California State Teachers Retirement System (CalSTRS)
California
$601K +$62.5K +6,202 +14%
1
2
3 4 5

CVLG Hedge Fund Activity: Q1 2016 in Review

91 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Covenant Logistics (CVLG) for Q1 2016, worth a combined $275M — up 32% from $208M a quarter earlier.

Sellers outnumbered buyers: 25 funds closed out of CVLG and 21 opened new positions — a net loss of 4 holders — while 26 trimmed existing stakes and 27 added.

The largest buyer was AllianceBernstein, opening a new position worth an estimated $16.4M. The largest seller was Portolan Capital Management, exiting entirely with an estimated $6.96M sold.

  • 91 institutional investors held Covenant Logistics (CVLG) as of Q1 2016, down from 96 in Q4 2015.
  • Funds reported $275M of Covenant Logistics stock for Q1 2016, up 32% quarter-over-quarter.
  • 21 funds opened new Covenant Logistics positions in Q1 2016 and 25 closed out, a net change of -4 holders.
  • The largest Covenant Logistics buyer in Q1 2016 was AllianceBernstein, an estimated $16.4M added.
  • The largest Covenant Logistics seller in Q1 2016 was Portolan Capital Management, an estimated $6.96M sold.

Based on aggregated 13F filings for Q1 2016.