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Covenant Logistics
CVLG

119 hedge funds and large institutions have $229M invested in Covenant Logistics in 2019 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 40 increasing their positions, 46 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

43% more call options, than puts

Call options by funds: $810K | Put options by funds: $568K

3.55% more ownership

Funds ownership: 147.27% → 150.83% (+3.6%)

1% more capital invested

Capital invested by funds: $226M → $229M (+$3.04M)

8% less funds holding

Funds holding: 129 → 119 (-10)

13% less repeat investments, than reductions

Existing positions increased: 40 | Existing positions reduced: 46

43% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 21

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
119
Holders Change
-10
Holders Change %
-7.75%
% of All Funds
2.58%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
12
Increased
40
Reduced
46
Closed
21
Calls
$810K
Puts
$568K
Net Calls
+$242K
Net Calls Change
+$1.19M

Top Buyers

1
PCM
Portolan Capital Management
Massachusetts
+$7.62M
2
LSV Asset Management
LSV Asset Management
Illinois
+$6.31M
3
Bank of New York Mellon
Bank of New York Mellon
New York
+$4.1M
4
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
+$4.06M
5
Prudential Financial
Prudential Financial
New Jersey
+$2.42M

Top Sellers

1
HA
Homestead Advisers
Virginia
-$6.11M
2
Millennium Management
Millennium Management
New York
-$3.18M
3
FP
Foundry Partners
Minnesota
-$3.12M
4
Marshall Wace
Marshall Wace
United Kingdom
-$1.92M
5
HIM
Hillsdale Investment Management
Ontario, Canada
-$1.43M
Name Holding Trade Value Shares
Change 		Change in
Stake
Man Group
26
Man Group
United Kingdom
$2.03M +$212K +19,146 +10%
Two Sigma Investments
27
Two Sigma Investments
New York
$1.92M -$877K -79,180 -28%
TCIM
28
TIAA CREF Investment Management
New York
$1.91M -$419K -37,840 -16%
FHA
29
First Horizon Advisors
Tennessee
$1.9M +$1.09M +98,730 +97%
Assenagon Asset Management
30
Assenagon Asset Management
Luxembourg
$1.87M +$993K +89,692 +84%
SCM
31
Southport Capital Management
Tennessee
$1.85M – – –
D.E. Shaw & Co
32
D.E. Shaw & Co
New York
$1.82M +$626K +56,546 +42%
IECM
33
Intrinsic Edge Capital Management
Illinois
$1.72M +$2.01M +181,400 New
Invesco
34
Invesco
Georgia
$1.6M +$83K +7,492 +5%
Bank of Montreal
35
Bank of Montreal
Ontario, Canada
$1.53M -$69.7K -6,292 -4%
Deutsche Bank
36
Deutsche Bank
Germany
$1.44M -$145K -13,124 -8%
Allianz Asset Management
37
Allianz Asset Management
Germany
$1.42M -$1.08M -97,558 -40%
American Century Companies
38
American Century Companies
Missouri
$1.34M -$180K -16,296 -10%
Bank of America
39
Bank of America
North Carolina
$1.33M +$900K +81,278 +138%
CIA
40
Capital Impact Advisors
Massachusetts
$1.28M – – –
Victory Capital Management
41
Victory Capital Management
Texas
$1.28M -$28.3K -2,560 -2%
Renaissance Technologies
42
Renaissance Technologies
New York
$1.2M -$68.6K -6,200 -5%
ZIM
43
ZPR Investment Management
Florida
$1.11M -$200K -18,036 -13%
Connor, Clark & Lunn Investment Management (CC&L)
44
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$1.09M -$58.7K -5,300 -4%
BPM
45
Bowling Portfolio Management
Ohio
$1.09M -$3.23K -292 -0.3%
SFM
46
Systematic Financial Management
New Jersey
$1.03M -$92.7K -8,370 -7%
ERSOT
47
Employees Retirement System of Texas
Texas
$1.01M – – –
Citadel Advisors
48
Citadel Advisors
Florida
$956K -$337K -30,468 -23%
Acadian Asset Management
49
Acadian Asset Management
Massachusetts
$867K +$630K +56,928 +165%
Russell Investments Group
50
Russell Investments Group
United Kingdom
$856K +$143K +12,932 +17%
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3 4 5

CVLG Hedge Fund Activity: Q1 2019 in Review

119 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Covenant Logistics (CVLG) for Q1 2019, worth a combined $229M — up 1.3% from $226M a quarter earlier.

Sellers outnumbered buyers: 21 funds closed out of CVLG and 12 opened new positions — a net loss of 9 holders — while 46 trimmed existing stakes and 40 added.

The largest buyer was Portolan Capital Management, opening a new position worth an estimated $7.62M. The largest seller was Homestead Advisers, cutting an estimated $6.11M.

  • 119 institutional investors held Covenant Logistics (CVLG) as of Q1 2019, down from 129 in Q4 2018.
  • Funds reported $229M of Covenant Logistics stock for Q1 2019, up 1.3% quarter-over-quarter.
  • 12 funds opened new Covenant Logistics positions in Q1 2019 and 21 closed out, a net change of -9 holders.
  • The largest Covenant Logistics buyer in Q1 2019 was Portolan Capital Management, an estimated $7.62M added.
  • The largest Covenant Logistics seller in Q1 2019 was Homestead Advisers, an estimated $6.11M sold.

Based on aggregated 13F filings for Q1 2019.