Covenant Logistics
CVLG
85 hedge funds and large institutions have $217M invested in Covenant Logistics in 2016 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 33 increasing their positions, 21 reducing their positions, and 19 closing their positions.
57% more repeat investments, than reductions
Existing positions increased: 33 | Existing positions reduced: 21
7% less funds holding
Funds holding: 91 → 85 (-6)
21% less capital invested
Capital invested by funds: $275M → $217M (-$58.5M)
26% less first-time investments, than exits
New positions opened: 14 | Existing positions closed: 19
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
100% less call options, than puts
Call options by funds: $0 | Put options by funds: $211K
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AllianceBernstein
Nashville,
Tennessee
|
+$8.68M |
| 2 |
WMSA
Weiss Multi-Strategy Advisers
New York
|
+$8.47M |
| 3 |
SAM
Scopus Asset Management
New York
|
+$5.86M |
| 4 |
MOACM
Mutual of America Capital Management
New York
|
+$5M |
| 5 |
PCM
Penn Capital Management
Philadelphia,
Pennsylvania
|
+$4.07M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCMC
RK Capital Management (Colorado)
Denver,
Colorado
|
-$5.55M |
| 2 |
SCM
SG Capital Management
Chicago,
Illinois
|
-$3.02M |
| 3 |
Renaissance Technologies
New York
|
-$2.99M |
| 4 |
RI
Redwood Investments
Boston,
Massachusetts
|
-$2.51M |
| 5 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
-$2.42M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TDC
101
Thompson Davis & Co
Richmond,
Virginia
| – | -$5K | -400 | Closed |
|
|
KKAMG
102
Kernodle & Katon Asset Management Group
Searcy,
Arkansas
| – | -$1K | -110 | Closed |
|
103
SEI Investments
Oaks,
Pennsylvania
| – | +$149 | +14 | New |
|
CVLG Hedge Fund Activity: Q2 2016 in Review
85 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Covenant Logistics (CVLG) for Q2 2016, worth a combined $217M — down 21% from $275M a quarter earlier.
Sellers outnumbered buyers: 19 funds closed out of CVLG and 14 opened new positions — a net loss of 5 holders — while 21 trimmed existing stakes and 33 added.
The largest buyer was AllianceBernstein, adding an estimated $8.68M. The largest seller was RK Capital Management (Colorado), exiting entirely with an estimated $5.55M sold.
- 85 institutional investors held Covenant Logistics (CVLG) as of Q2 2016, down from 91 in Q1 2016.
- Funds reported $217M of Covenant Logistics stock for Q2 2016, down 21% quarter-over-quarter.
- 14 funds opened new Covenant Logistics positions in Q2 2016 and 19 closed out, a net change of -5 holders.
- The largest Covenant Logistics buyer in Q2 2016 was AllianceBernstein, an estimated $8.68M added.
- The largest Covenant Logistics seller in Q2 2016 was RK Capital Management (Colorado), an estimated $5.55M sold.
Based on aggregated 13F filings for Q2 2016.