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i3 Verticals
IIIV

70 hedge funds and large institutions have $152M invested in i3 Verticals in 2018 Q3 according to their latest regulatory filings, with 38 funds opening new positions, 18 increasing their positions, 10 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

111% more first-time investments, than exits

New positions opened: 38 | Existing positions closed: 18

80% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 10

72% more capital invested

Capital invested by funds: $88M → $152M (+$63.5M)

40% more funds holding

Funds holding: 50 → 70 (+20)

1.97% more ownership

Funds ownership: 70.67% → 72.64% (+2%)

Holders
70
Holders Change
+20
Holders Change %
+40%
% of All Funds
1.6%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.02%
New
38
Increased
18
Reduced
10
Closed
18
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$7.58M
2
BlackRock
BlackRock
New York
+$5.29M
3
NC
Nicholas Company
Wisconsin
+$4.92M
4
Marshall Wace
Marshall Wace
United Kingdom
+$3.16M
5
Vanguard Group
Vanguard Group
Pennsylvania
+$2.98M

Top Sellers

1
Franklin Resources
Franklin Resources
California
-$3.98M
2
Morgan Stanley
Morgan Stanley
New York
-$3.77M
3
Neuberger Berman Group
Neuberger Berman Group
New York
-$3.04M
4
Millennium Management
Millennium Management
New York
-$2.82M
5
Alyeska Investment Group
Alyeska Investment Group
Illinois
-$2.68M
Name Holding Trade Value Shares
Change 		Change in
Stake
T. Rowe Price Associates
1
T. Rowe Price Associates
Maryland
$21.2M +$7.58M +424,198 +85%
BlackRock
2
BlackRock
New York
$13.4M +$5.29M +296,281 +103%
DCM
3
Driehaus Capital Management
Illinois
$12.7M +$39.6K +2,219 +0.4%
Franklin Resources
4
Franklin Resources
California
$12.5M -$3.98M -222,700 -29%
CC
5
Crosslink Capital
California
$8.24M +$1.85M +103,407 +41%
Citadel Advisors
6
Citadel Advisors
Florida
$7.88M -$89.8K -5,028 -1%
WA
7
Wasatch Advisors
Utah
$6.52M +$820K +45,915 +19%
NC
8
Nicholas Company
Wisconsin
$6.33M +$4.92M +275,355 New
AIS
9
AlphaOne Investment Services
Pennsylvania
$5.41M +$2.6M +145,638 +163%
Federated Hermes
10
Federated Hermes
Pennsylvania
$5.09M – – –
Vanguard Group
11
Vanguard Group
Pennsylvania
$4.99M +$2.98M +166,963 +334%
Marshall Wace
12
Marshall Wace
United Kingdom
$4.07M +$3.16M +176,876 New
CIM
13
Confluence Investment Management
Missouri
$3.46M +$2.69M +150,439 New
Stifel Financial
14
Stifel Financial
Missouri
$2.9M +$638K +35,723 +39%
Two Sigma Investments
15
Two Sigma Investments
New York
$2.57M +$2M +111,717 New
Alyeska Investment Group
16
Alyeska Investment Group
Illinois
$2.3M -$2.68M -150,000 -60%
Northern Trust
17
Northern Trust
Illinois
$2.22M +$1.67M +93,341 +2,988%
TA
18
Teton Advisors
New York
$2.17M +$1.13M +63,500 +206%
CS
19
Credit Suisse
Switzerland
$2.13M +$962K +53,882 +139%
KCM
20
Kornitzer Capital Management
Kansas
$2.04M +$409K +22,900 +35%
EMG
21
ETF Managers Group
New Jersey
$1.76M +$1.37M +76,792 New
GPGA
22
Grandeur Peak Global Advisors
Utah
$1.75M – – –
State Street
23
State Street
Massachusetts
$1.71M +$1.33M +74,477 New
Victory Capital Management
24
Victory Capital Management
Texas
$1.55M +$385K +21,551 +47%
WB
25
WesBanco Bank
West Virginia
$1.35M +$1.05M +58,588 New
1
2 3 4

IIIV Hedge Fund Activity: Q3 2018 in Review

70 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in i3 Verticals (IIIV) for Q3 2018, worth a combined $152M — up 72% from $88M a quarter earlier.

Buyers outnumbered sellers: 38 funds opened new IIIV positions and 18 closed out — a net gain of 20 holders — while 18 added to existing stakes and 10 trimmed.

The largest buyer was T. Rowe Price Associates, adding an estimated $7.58M. The largest seller was Franklin Resources, cutting an estimated $3.98M.

  • 70 institutional investors held i3 Verticals (IIIV) as of Q3 2018, up from 50 in Q2 2018.
  • Funds reported $152M of i3 Verticals stock for Q3 2018, up 72% quarter-over-quarter.
  • 38 funds opened new i3 Verticals positions in Q3 2018 and 18 closed out, a net change of +20 holders.
  • The largest i3 Verticals buyer in Q3 2018 was T. Rowe Price Associates, an estimated $7.58M added.
  • The largest i3 Verticals seller in Q3 2018 was Franklin Resources, an estimated $3.98M sold.

Based on aggregated 13F filings for Q3 2018.