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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
ST
76
Smithfield Trust
Pennsylvania
$37K – – –
Teacher Retirement System of Texas
77
Teacher Retirement System of Texas
Texas
$35K +$7.16K +710 +32%
BlackRock
78
BlackRock
New York
$32K +$20.9K +2,076 +345%
Walleye Trading
79
Walleye Trading
New York
$31K +$26.2K +2,600 New
Zurich Cantonal Bank
80
Zurich Cantonal Bank
Switzerland
$25K +$20.7K +2,054 New
New York State Teachers Retirement System (NYSTRS)
81
New York State Teachers Retirement System (NYSTRS)
New York
$24K – – –
Morgan Stanley
82
Morgan Stanley
New York
$18K +$5.71K +566 +61%
BFEC
83
Benjamin F. Edwards & Company
Missouri
$12K +$10.1K +1,000 New
MA
84
MUFG Americas
New York
$10K -$5.65K -560 -40%
UBS Group
85
UBS Group
Switzerland
$9K -$2.18K -216 -22%
Bank of Montreal
86
Bank of Montreal
Ontario, Canada
$8K +$6.92K +686 New
PAM
87
Panagora Asset Management
Massachusetts
$6K – – –
TDC
88
Thompson Davis & Co
Virginia
$5K – – –
Geode Capital Management
89
Geode Capital Management
Massachusetts
$2.03K +$235K +23,272 +16%
KKAMG
90
Kernodle & Katon Asset Management Group
Arkansas
$1K +$1.11K +110 New
PCM
91
Portolan Capital Management
Massachusetts
– -$6.96M -736,972 Closed
RIM
92
Rainier Investment Management
Washington
– -$6.2M -656,600 Closed
BCM
93
BlueCrest Capital Management
Jersey
– -$4.37M -462,574 Closed
HAI
94
Hennessy Advisors Inc
California
– -$3.43M -362,800 Closed
AI
95
Analytic Investors
California
– -$1.5M -158,734 Closed
TC
96
TFS Capital
Pennsylvania
– -$1.31M -139,032 Closed
WA
97
Whitebox Advisors
Minnesota
– -$1.15M -121,890 Closed
Acadian Asset Management
98
Acadian Asset Management
Massachusetts
– -$793K -83,918 Closed
HCM
99
Highbridge Capital Management
New York
– -$591K -62,582 Closed
Bank of America
100
Bank of America
North Carolina
– -$528K -55,954 Closed
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.