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i3 Verticals
IIIV

135 hedge funds and large institutions have $486M invested in i3 Verticals in 2023 Q2 according to their latest regulatory filings, with 12 funds opening new positions, 53 increasing their positions, 44 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

95% more call options, than puts

Call options by funds: $230K | Put options by funds: $118K

20% more repeat investments, than reductions

Existing positions increased: 53 | Existing positions reduced: 44

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

1.92% less ownership

Funds ownership: 93.53% → 91.6% (-1.9%)

3% less funds holding

Funds holding: 139 → 135 (-4)

8% less capital invested

Capital invested by funds: $530M → $486M (-$44.2M)

20% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 15

Holders
135
Holders Change
-4
Holders Change %
-2.88%
% of All Funds
2.12%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
12
Increased
53
Reduced
44
Closed
15
Calls
$230K
Puts
$118K
Net Calls
+$112K
Net Calls Change
-$435K

Top Buyers

1
VC
Voss Capital
Texas
+$5.89M
2
CC
Crosslink Capital
California
+$4.37M
3
HA
Heartland Advisors
Wisconsin
+$2.61M
4
Two Sigma Investments
Two Sigma Investments
New York
+$1.51M
5
RIM
Ranger Investment Management
Texas
+$1.31M

Top Sellers

1
Wellington Management Group
Wellington Management Group
Massachusetts
-$15.5M
2
DCM
Driehaus Capital Management
Illinois
-$5.35M
3
Vanguard Group
Vanguard Group
Pennsylvania
-$2.4M
4
GIPM
G2 Investment Partners Management
New York
-$2.14M
5
EMFAT
Emerald Mutual Fund Advisers Trust
Pennsylvania
-$1.95M
Name Holding Trade Value Shares
Change 		Change in
Stake
GCM
1
Geneva Capital Management
Wisconsin
$43.7M -$27.3K -1,172 -0.1%
BlackRock
2
BlackRock
New York
$35.9M +$208K +8,933 +0.6%
Vanguard Group
3
Vanguard Group
Pennsylvania
$28.6M -$2.4M -102,827 -8%
CC
4
Crosslink Capital
California
$27.5M +$4.37M +187,451 +18%
RIM
5
Ranger Investment Management
Texas
$24.4M +$1.31M +56,394 +6%
HRCM
6
Hood River Capital Management
Florida
$17.2M -$141K -6,037 -0.8%
VC
7
Voss Capital
Texas
$15.7M +$5.89M +252,453 +58%
Millennium Management
8
Millennium Management
New York
$15.3M +$269K +11,555 +2%
PCM
9
Portolan Capital Management
Massachusetts
$13.3M -$630K -27,007 -4%
VOYA Investment Management
10
VOYA Investment Management
Georgia
$12.5M +$890K +38,195 +7%
State Street
11
State Street
Massachusetts
$12.4M +$1.06M +45,531 +9%
Royal Bank of Canada
12
Royal Bank of Canada
Ontario, Canada
$11.9M -$37.3K -1,601 -0.3%
HA
13
Heartland Advisors
Wisconsin
$11.7M +$2.61M +112,150 +28%
Dimensional Fund Advisors
14
Dimensional Fund Advisors
Texas
$10.9M +$240K +10,275 +2%
Geode Capital Management
15
Geode Capital Management
Massachusetts
$10.4M +$68.8K +2,952 +0.7%
Bank of Montreal
16
Bank of Montreal
Ontario, Canada
$9.4M -$22.7K -973 -0.2%
Wellington Management Group
17
Wellington Management Group
Massachusetts
$8.47M -$15.5M -663,837 -64%
SI
18
Scout Investments
Missouri
$8.35M -$231K -9,926 -3%
CP
19
Covenant Partners
Tennessee
$7.86M – – –
NC
20
Nicholas Company
Wisconsin
$7.62M +$350 +15 +0%
Russell Investments Group
21
Russell Investments Group
United Kingdom
$7.47M +$327K +14,030 +4%
EWA
22
EverSource Wealth Advisors
Alabama
$6.82M – – –
WA
23
Wasatch Advisors
Utah
$6.55M -$767K -32,916 -10%
Allspring Global Investments
24
Allspring Global Investments
North Carolina
$5.81M +$393K +16,859 +7%
Ameriprise
25
Ameriprise
Minnesota
$5.33M +$60.9K +2,614 +1%
1
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IIIV Hedge Fund Activity: Q2 2023 in Review

135 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in i3 Verticals (IIIV) for Q2 2023, worth a combined $486M — down 8.3% from $530M a quarter earlier.

Sellers outnumbered buyers: 15 funds closed out of IIIV and 12 opened new positions — a net loss of 3 holders — while 44 trimmed existing stakes and 53 added.

The largest buyer was Voss Capital, adding an estimated $5.89M. The largest seller was Wellington Management Group, cutting an estimated $15.5M.

  • 135 institutional investors held i3 Verticals (IIIV) as of Q2 2023, down from 139 in Q1 2023.
  • Funds reported $486M of i3 Verticals stock for Q2 2023, down 8.3% quarter-over-quarter.
  • 12 funds opened new i3 Verticals positions in Q2 2023 and 15 closed out, a net change of -3 holders.
  • The largest i3 Verticals buyer in Q2 2023 was Voss Capital, an estimated $5.89M added.
  • The largest i3 Verticals seller in Q2 2023 was Wellington Management Group, an estimated $15.5M sold.

Based on aggregated 13F filings for Q2 2023.