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Liquidity Services
LQDT

138 hedge funds and large institutions have $165M invested in Liquidity Services in 2014 Q4 according to their latest regulatory filings, with 30 funds opening new positions, 50 increasing their positions, 36 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

39% more repeat investments, than reductions

Existing positions increased: 50 | Existing positions reduced: 36

30% more first-time investments, than exits

New positions opened: 30 | Existing positions closed: 23

5% more funds holding

Funds holding: 132 → 138 (+6)

39% less call options, than puts

Call options by funds: $1.14M | Put options by funds: $1.86M

40% less capital invested

Capital invested by funds: $275M → $165M (-$111M)

Holders
138
Holders Change
+6
Holders Change %
+4.55%
% of All Funds
3.68%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
30
Increased
50
Reduced
36
Closed
23
Calls
$1.14M
Puts
$1.86M
Net Calls
-$721K
Net Calls Change
+$6.17M

Top Buyers

Rank Fund Capital Flow
1
CWAM
Columbia Wanger Asset Management
Illinois
+$3.18M
2
Morgan Stanley
Morgan Stanley
New York
+$2.31M
3
JP Morgan Chase
JP Morgan Chase
New York
+$2.28M
4
SCA
STALEY CAPITAL ADVISERS
Pennsylvania
+$1.95M
5
BIM
Bogle Investment Management
Massachusetts
+$1.93M

Top Sellers

Rank Fund Capital Flow
1
MPMG
Minneapolis Portfolio Management Group
Minnesota
-$8.88M
2
Fidelity Investments
Fidelity Investments
Massachusetts
-$6.78M
3
ACM
Ashford Capital Management
Delaware
-$3.63M
4
DCM
Destrier Capital Management
New York
-$2.38M
5
GC
Guggenheim Capital
Illinois
-$2.18M
Name Holding Trade Value Shares
Change 		Change in
Stake
Millennium Management
51
Millennium Management
New York
$460K +$614K +56,338 New
TA
52
Teachers Advisors
New York
$459K – – –
ACB
53
Aristotle Capital Boston
Massachusetts
$456K +$608K +55,838 New
Nordea Investment Management
54
Nordea Investment Management
Sweden
$451K -$37.2K -3,420 -6%
NSIM
55
North Star Investment Management
Illinois
$420K – – –
New York State Teachers Retirement System (NYSTRS)
56
New York State Teachers Retirement System (NYSTRS)
New York
$419K – – –
New York State Common Retirement Fund
57
New York State Common Retirement Fund
New York
$410K -$445K -40,900 -45%
Comerica Bank
58
Comerica Bank
Texas
$388K +$258K +23,687 +99%
California State Teachers Retirement System (CalSTRS)
59
California State Teachers Retirement System (CalSTRS)
California
$372K +$2.11K +194 +0.4%
Public Sector Pension Investment Board (PSP Investments)
60
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$370K – – –
TIM
61
Thompson Investment Management
Wisconsin
$365K – – –
PPA
62
Parametric Portfolio Associates
Washington
$353K +$109K +9,983 +30%
VOYA Investment Management
63
VOYA Investment Management
Georgia
$336K +$258K +23,658 +136%
RhumbLine Advisers
64
RhumbLine Advisers
Massachusetts
$332K +$22.1K +2,025 +5%
ARTA
65
A.R.T. Advisors
New York
$292K +$390K +35,830 New
IGIM
66
I.G. Investment Management
Manitoba, Canada
$262K +$2.12K +195 +0.6%
KBC Group
67
KBC Group
Belgium
$257K +$342K +31,427 New
Tudor Investment Corp
68
Tudor Investment Corp
Connecticut
$252K +$336K +30,826 New
Two Sigma Investments
69
Two Sigma Investments
New York
$250K +$333K +30,559 New
CAM
70
Capstone Asset Management
Texas
$241K +$201K +18,440 +167%
OA
71
OFI Advisors
Pennsylvania
$238K +$150K +13,730 +89%
Allianz Asset Management
72
Allianz Asset Management
Germany
$237K -$33.9K -3,110 -10%
Swiss National Bank
73
Swiss National Bank
Switzerland
$225K – – –
Wellington Management Group
74
Wellington Management Group
Massachusetts
$224K +$7.55K +693 +3%
AG
75
Aperio Group
California
$213K +$283K +26,018 New
1 2
3
4 5

LQDT Hedge Fund Activity: Q4 2014 in Review

138 of the 3,749 institutional investors tracked by Wall St. Rank reported a position in Liquidity Services (LQDT) for Q4 2014, worth a combined $165M — down 40% from $275M a quarter earlier.

Buyers outnumbered sellers: 30 funds opened new LQDT positions and 23 closed out — a net gain of 7 holders — while 50 added to existing stakes and 36 trimmed.

The largest buyer was Columbia Wanger Asset Management, adding an estimated $3.18M. The largest seller was Minneapolis Portfolio Management Group, exiting entirely with an estimated $8.88M sold.

  • 138 institutional investors held Liquidity Services (LQDT) as of Q4 2014, up from 132 in Q3 2014.
  • Funds reported $165M of Liquidity Services stock for Q4 2014, down 40% quarter-over-quarter.
  • 30 funds opened new Liquidity Services positions in Q4 2014 and 23 closed out, a net change of +7 holders.
  • The largest Liquidity Services buyer in Q4 2014 was Columbia Wanger Asset Management, an estimated $3.18M added.
  • The largest Liquidity Services seller in Q4 2014 was Minneapolis Portfolio Management Group, an estimated $8.88M sold.

Based on aggregated 13F filings for Q4 2014.