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Flex
FLEX

342 hedge funds and large institutions have $6.9B invested in Flex in 2018 Q2 according to their latest regulatory filings, with 47 funds opening new positions, 118 increasing their positions, 115 reducing their positions, and 75 closing their positions.

New
Increased
Maintained
Reduced
Closed

66% more call options, than puts

Call options by funds: $63.9M | Put options by funds: $38.5M

3% more repeat investments, than reductions

Existing positions increased: 118 | Existing positions reduced: 115

2.75% less ownership

Funds ownership: 126.8% → 124.06% (-2.7%)

8% less funds holding

Funds holding: 372 → 342 (-30)

13% less funds holding in top 10

Funds holding in top 10: 8 → 7 (-1)

16% less capital invested

Capital invested by funds: $8.22B → $6.9B (-$1.32B)

37% less first-time investments, than exits

New positions opened: 47 | Existing positions closed: 75

Holders
342
Holders Change
-30
Holders Change %
-8.06%
% of All Funds
7.83%
Holding in Top 10
7
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-12.5%
% of All Funds
0.16%
New
47
Increased
118
Reduced
115
Closed
75
Calls
$63.9M
Puts
$38.5M
Net Calls
+$25.4M
Net Calls Change
+$5.22M

Top Buyers

1
Janus Henderson Group
Janus Henderson Group
United Kingdom
+$158M
2
Wellington Management Group
Wellington Management Group
Massachusetts
+$74.6M
3
Primecap Management
Primecap Management
California
+$60.3M
4
Two Sigma Investments
Two Sigma Investments
New York
+$39.3M
5
DCM
Discovery Capital Management
Connecticut
+$39.3M

Top Sellers

1
Boston Partners
Boston Partners
Massachusetts
-$146M
2
BlackRock
BlackRock
New York
-$112M
3
Capital World Investors
Capital World Investors
California
-$102M
4
IAM
Iridian Asset Management
Connecticut
-$93.5M
5
JP Morgan Chase
JP Morgan Chase
New York
-$46.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
Primecap Management
1
Primecap Management
California
$809M +$60.3M +5,370,938 +8%
Wellington Management Group
2
Wellington Management Group
Massachusetts
$695M +$74.6M +6,651,094 +11%
Janus Henderson Group
3
Janus Henderson Group
United Kingdom
$632M +$158M +14,036,100 +31%
GCM
4
Glenview Capital Management
New York
$467M +$6.2M +552,726 +1%
Capital Research Global Investors
5
Capital Research Global Investors
California
$361M -$29.6M -2,640,331 -7%
Boston Partners
6
Boston Partners
Massachusetts
$353M -$146M -13,029,713 -28%
BlackRock
7
BlackRock
New York
$208M -$112M -9,947,794 -34%
LAM
8
Lyrical Asset Management
New York
$207M +$3.49M +311,364 +2%
Victory Capital Management
9
Victory Capital Management
Texas
$188M +$11.5M +1,028,260 +6%
SSM
10
Sound Shore Management
Connecticut
$151M +$10.9M +972,583 +7%
Harris Associates
11
Harris Associates
Illinois
$146M -$28.5M -2,543,315 -16%
Jennison Associates
12
Jennison Associates
New York
$117M -$706K -62,924 -0.6%
CAM
13
Contour Asset Management
New York
$115M +$38.4M +3,418,888 +46%
State Street
14
State Street
Massachusetts
$104M +$4.27M +380,643 +4%
AQR Capital Management
15
AQR Capital Management
Connecticut
$101M +$22.5M +2,005,792 +27%
Dimensional Fund Advisors
16
Dimensional Fund Advisors
Texas
$94M +$1.5M +133,968 +2%
LSV Asset Management
17
LSV Asset Management
Illinois
$89.9M -$42.2M -3,764,066 -31%
TSW
18
Thompson Siegel & Walmsley
Virginia
$86.7M +$36.4M +3,243,465 +66%
DCM
19
Discovery Capital Management
Connecticut
$85.1M +$39.3M +3,499,299 +78%
Wells Fargo
20
Wells Fargo
California
$79.6M +$16.9M +1,505,472 +25%
Norges Bank
21
Norges Bank
Norway
$74.9M -$1.45M -129,032 -2%
AllianceBernstein
22
AllianceBernstein
Tennessee
$71.1M +$22.5M +2,007,778 +43%
Bank of America
23
Bank of America
North Carolina
$68.5M -$25.6M -2,284,339 -26%
D.E. Shaw & Co
24
D.E. Shaw & Co
New York
$67.3M +$13.7M +1,222,938 +24%
Pzena Investment Management
25
Pzena Investment Management
New York
$65.6M -$3.17M -282,792 -4%
1
2 3 4 5

FLEX Hedge Fund Activity: Q2 2018 in Review

342 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in Flex (FLEX) for Q2 2018, worth a combined $6.9B — down 16% from $8.22B a quarter earlier.

Sellers outnumbered buyers: 75 funds closed out of FLEX and 47 opened new positions — a net loss of 28 holders — while 115 trimmed existing stakes and 118 added.

The largest buyer was Janus Henderson Group, adding an estimated $158M. The largest seller was Boston Partners, cutting an estimated $146M.

  • 342 institutional investors held Flex (FLEX) as of Q2 2018, down from 372 in Q1 2018.
  • Funds reported $6.9B of Flex stock for Q2 2018, down 16% quarter-over-quarter.
  • 47 funds opened new Flex positions in Q2 2018 and 75 closed out, a net change of -28 holders.
  • The largest Flex buyer in Q2 2018 was Janus Henderson Group, an estimated $158M added.
  • The largest Flex seller in Q2 2018 was Boston Partners, an estimated $146M sold.

Based on aggregated 13F filings for Q2 2018.