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i3 Verticals
IIIV

135 hedge funds and large institutions have $492M invested in i3 Verticals in 2024 Q1 according to their latest regulatory filings, with 21 funds opening new positions, 42 increasing their positions, 51 reducing their positions, and 35 closing their positions.

New
Increased
Maintained
Reduced
Closed

516% more call options, than puts

Call options by funds: $2.23M | Put options by funds: $361K

11% more capital invested

Capital invested by funds: $444M → $492M (+$48.4M)

2.35% more ownership

Funds ownership: 90.07% → 92.43% (+2.4%)

9% less funds holding

Funds holding: 149 → 135 (-14)

18% less repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 51

40% less first-time investments, than exits

New positions opened: 21 | Existing positions closed: 35

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
135
Holders Change
-14
Holders Change %
-9.4%
% of All Funds
1.94%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
21
Increased
42
Reduced
51
Closed
35
Calls
$2.23M
Puts
$361K
Net Calls
+$1.86M
Net Calls Change
+$2.27M

Top Buyers

1
PCM
Portolan Capital Management
Massachusetts
+$13.3M
2
CCPM
Cooper Creek Partners Management
New York
+$7.31M
3
HRCM
Hood River Capital Management
Florida
+$7.01M
4
GCM
Greenland Capital Management
New York
+$3.72M
5
Morgan Stanley
Morgan Stanley
New York
+$3.71M

Top Sellers

1
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$12.9M
2
Millennium Management
Millennium Management
New York
-$6.44M
3
VC
Voss Capital
Texas
-$3.32M
4
CP
Covenant Partners
Tennessee
-$1.81M
5
GLA
Great Lakes Advisors
Illinois
-$1.66M
Name Holding Trade Value Shares
Change 		Change in
Stake
Select Equity Group
51
Select Equity Group
New York
$1.48M +$160K +7,691 +14%
GCP
52
GSA Capital Partners
United Kingdom
$1.48M -$706K -34,010 -35%
Renaissance Technologies
53
Renaissance Technologies
New York
$1.46M -$662K -31,900 -33%
Charles Schwab
54
Charles Schwab
California
$1.4M -$27K -1,301 -2%
GF
55
Gabelli Funds
New York
$1.28M – – –
DIA
56
Dana Investment Advisors
Wisconsin
$1.26M +$56.4K +2,716 +5%
Federated Hermes
57
Federated Hermes
Pennsylvania
$1.19M +$115K +5,554 +12%
Squarepoint
58
Squarepoint
New York
$1.17M +$1.06M +51,087 New
Man Group
59
Man Group
United Kingdom
$1.16M +$1.05M +50,654 New
KCM
60
Kornitzer Capital Management
Kansas
$1.1M +$116K +5,600 +13%
Swiss National Bank
61
Swiss National Bank
Switzerland
$1.05M – – –
Victory Capital Management
62
Victory Capital Management
Texas
$1M +$15.6K +750 +2%
Mirae Asset Global Investments
63
Mirae Asset Global Investments
South Korea
$992K +$84.6K +4,075 +11%
Mariner
64
Mariner
Kansas
$968K +$3.32K +160 +0.4%
Legal & General Group
65
Legal & General Group
United Kingdom
$843K -$32.5K -1,567 -4%
Boston Partners
66
Boston Partners
Massachusetts
$813K -$228K -10,978 -24%
BFC
67
Banc Funds Company
Illinois
$808K – – –
Invesco
68
Invesco
Georgia
$788K -$511K -24,584 -42%
RJA
69
Raymond James & Associates
Florida
$770K -$961K -46,285 -58%
Barclays
70
Barclays
United Kingdom
$729K -$94.4K -4,545 -12%
RhumbLine Advisers
71
RhumbLine Advisers
Massachusetts
$716K -$45.2K -2,175 -6%
Royal Bank of Canada
72
Royal Bank of Canada
Ontario, Canada
$714K -$12.9M -623,348 -95%
ADEF
73
ABS Direct Equity Fund
Connecticut
$687K -$104K -5,000 -14%
MHP
74
Manatuck Hill Partners
Connecticut
$687K +$623K +30,000 New
Susquehanna International Group
75
Susquehanna International Group
Pennsylvania
$663K +$274K +13,192 +84%
1 2
3
4 5

IIIV Hedge Fund Activity: Q1 2024 in Review

135 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in i3 Verticals (IIIV) for Q1 2024, worth a combined $492M — up 11% from $444M a quarter earlier.

Sellers outnumbered buyers: 35 funds closed out of IIIV and 21 opened new positions — a net loss of 14 holders — while 51 trimmed existing stakes and 42 added.

The largest buyer was Portolan Capital Management, adding an estimated $13.3M. The largest seller was Royal Bank of Canada, cutting an estimated $12.9M.

  • 135 institutional investors held i3 Verticals (IIIV) as of Q1 2024, down from 149 in Q4 2023.
  • Funds reported $492M of i3 Verticals stock for Q1 2024, up 11% quarter-over-quarter.
  • 21 funds opened new i3 Verticals positions in Q1 2024 and 35 closed out, a net change of -14 holders.
  • The largest i3 Verticals buyer in Q1 2024 was Portolan Capital Management, an estimated $13.3M added.
  • The largest i3 Verticals seller in Q1 2024 was Royal Bank of Canada, an estimated $12.9M sold.

Based on aggregated 13F filings for Q1 2024.