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CS Disco
LAW

109 hedge funds and large institutions have $222M invested in CS Disco in 2023 Q1 according to their latest regulatory filings, with 24 funds opening new positions, 44 increasing their positions, 24 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

83% more repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 24

41% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 17

34% more call options, than puts

Call options by funds: $834K | Put options by funds: $623K

7% more funds holding

Funds holding: 102 → 109 (+7)

3% more capital invested

Capital invested by funds: $214M → $222M (+$7.46M)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

1.25% less ownership

Funds ownership: 57.39% → 56.14% (-1.2%)

Holders
109
Holders Change
+7
Holders Change %
+6.86%
% of All Funds
1.74%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
24
Increased
44
Reduced
24
Closed
17
Calls
$834K
Puts
$623K
Net Calls
+$211K
Net Calls Change
-$590K

Top Buyers

Rank Fund Capital Flow
1
SP
Solel Partners
Massachusetts
+$17.7M
2
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$3.18M
3
Jacobs Levy Equity Management
Jacobs Levy Equity Management
New Jersey
+$2.16M
4
FG
Formula Growth
Quebec, Canada
+$1.78M
5
Millennium Management
Millennium Management
New York
+$1.35M

Top Sellers

Rank Fund Capital Flow
1
DIG
Dragoneer Investment Group
California
-$11.7M
2
WA
Wasatch Advisors
Utah
-$9.91M
3
BlackRock
BlackRock
New York
-$6.33M
4
Bank of New York Mellon
Bank of New York Mellon
New York
-$4.86M
5
Vanguard Group
Vanguard Group
Pennsylvania
-$2.31M
Name Holding Trade Value Shares
Change 		Change in
Stake
HCM
26
Horrell Capital Management
Arkansas
$737K +$790K +111,000 New
State of Wisconsin Investment Board
27
State of Wisconsin Investment Board
Wisconsin
$731K +$285K +40,063 +57%
GCP
28
GSA Capital Partners
United Kingdom
$683K +$731K +102,793 New
Bank of New York Mellon
29
Bank of New York Mellon
New York
$679K -$4.86M -683,605 -87%
Susquehanna International Group
30
Susquehanna International Group
Pennsylvania
$677K +$505K +70,971 +229%
Allspring Global Investments
31
Allspring Global Investments
North Carolina
$665K +$1.69K +238 +0.2%
UBS Group
32
UBS Group
Switzerland
$664K +$275K +38,627 +63%
Bank of America
33
Bank of America
North Carolina
$606K +$129K +18,091 +25%
Two Sigma Investments
34
Two Sigma Investments
New York
$585K +$189K +26,611 +43%
WCA
35
Whetstone Capital Advisors
Kansas
$541K +$304K +42,676 +110%
CSS
36
Cubist Systematic Strategies
Connecticut
$521K +$304K +42,766 +120%
AG
37
Algert Global
California
$517K +$554K +77,925 New
Citadel Advisors
38
Citadel Advisors
Florida
$515K +$160K +22,514 +41%
PP
39
PDT Partners
New York
$472K +$152K +21,308 +43%
CIA
40
Capital Impact Advisors
Massachusetts
$455K +$5.79K +814 +1%
Jane Street
41
Jane Street
New York
$400K +$429K +60,306 New
Swiss National Bank
42
Swiss National Bank
Switzerland
$338K +$118K +16,600 +48%
GCM
43
Ghisallo Capital Management
Massachusetts
$332K – – –
Deutsche Bank
44
Deutsche Bank
Germany
$325K +$278K +39,025 +393%
SO
45
STRS Ohio
Ohio
$308K – – –
Goldman Sachs
46
Goldman Sachs
New York
$307K +$34K +4,776 +12%
N
47
Nuveen
North Carolina
$276K -$2.27K -319 -0.8%
OQS
48
Occudo Quantitative Strategies
Florida
$271K -$29.9K -4,208 -9%
AllianceBernstein
49
AllianceBernstein
Tennessee
$249K +$40.5K +5,700 +18%
Baillie Gifford & Co
50
Baillie Gifford & Co
United Kingdom
$244K -$3.28K -461 -1%
1
2
3 4 5

LAW Hedge Fund Activity: Q1 2023 in Review

109 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in CS Disco (LAW) for Q1 2023, worth a combined $222M — up 3.5% from $214M a quarter earlier.

Buyers outnumbered sellers: 24 funds opened new LAW positions and 17 closed out — a net gain of 7 holders — while 44 added to existing stakes and 24 trimmed.

The largest buyer was Solel Partners, opening a new position worth an estimated $17.7M. The largest seller was Dragoneer Investment Group, exiting entirely with an estimated $11.7M sold.

  • 109 institutional investors held CS Disco (LAW) as of Q1 2023, up from 102 in Q4 2022.
  • Funds reported $222M of CS Disco stock for Q1 2023, up 3.5% quarter-over-quarter.
  • 24 funds opened new CS Disco positions in Q1 2023 and 17 closed out, a net change of +7 holders.
  • The largest CS Disco buyer in Q1 2023 was Solel Partners, an estimated $17.7M added.
  • The largest CS Disco seller in Q1 2023 was Dragoneer Investment Group, an estimated $11.7M sold.

Based on aggregated 13F filings for Q1 2023.