Liquidity Services
LQDT
165 hedge funds and large institutions have $686M invested in Liquidity Services in 2013 Q4 according to their latest regulatory filings, with 32 funds opening new positions, 65 increasing their positions, 55 reducing their positions, and 44 closing their positions.
24% more call options, than puts
Call options by funds: $8.61M | Put options by funds: $6.97M
18% more repeat investments, than reductions
Existing positions increased: 65 | Existing positions reduced: 55
7% less funds holding
Funds holding: 177 → 165 (-12)
27% less first-time investments, than exits
New positions opened: 32 | Existing positions closed: 44
39% less capital invested
Capital invested by funds: $1.12B → $686M (-$435M)
67% less funds holding in top 10
Funds holding in top 10: 6 → 2 (-4)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VBA
Van Berkom & Associates
Montreal,
Quebec, Canada
|
+$24.3M |
| 2 |
ZIG
Zuckerman Investment Group
Chicago,
Illinois
|
+$12.2M |
| 3 |
Fidelity Investments
Boston,
Massachusetts
|
+$11.3M |
| 4 |
TI
Trigran Investments
Northbrook,
Illinois
|
+$9.2M |
| 5 |
WIM
Weitz Investment Management
Omaha,
Nebraska
|
+$8.56M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital Research Global Investors
Los Angeles,
California
|
-$43M |
| 2 |
PM
Pembroke Management
Montreal,
Quebec, Canada
|
-$34.9M |
| 3 |
CAM
Cortina Asset Management
Milwaukee,
Wisconsin
|
-$20.1M |
| 4 |
GIM
Granahan Investment Management
Waltham,
Massachusetts
|
-$18.6M |
| 5 |
LI
LMCG Investments
Boston,
Massachusetts
|
-$16.5M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
HNB
201
Huntington National Bank
Columbus,
Ohio
| – | -$92K | -2,759 | Closed |
|
|
GT
202
Glenmede Trust
Philadelphia,
Pennsylvania
| – | -$71K | -2,129 | Closed |
|
|
FMT
203
First Mercantile Trust
Cordova,
Tennessee
| – | -$50K | -1,490 | Closed |
|
204
Daiwa Securities Group
Tokyo,
Japan
| – | -$40K | -1,200 | Closed |
|
205
Fifth Third Bancorp
Cincinnati,
Ohio
| – | -$39K | -1,164 | Closed |
|
206
US Bancorp
Minneapolis,
Minnesota
| – | -$22K | -657 | Closed |
|
|
TWI
207
Thomas White International
Chicago,
Illinois
| – | -$4K | -130 | Closed |
|
|
WA
208
WFG Advisors
Dallas,
Texas
| – | -$3K | -100 | Closed |
|
|
FNBT
209
FineMark National Bank & Trust
Fort Myers,
Florida
| – | -$1K | -41 | Closed |
|
LQDT Hedge Fund Activity: Q4 2013 in Review
165 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Liquidity Services (LQDT) for Q4 2013, worth a combined $686M — down 39% from $1.12B a quarter earlier.
Sellers outnumbered buyers: 44 funds closed out of LQDT and 32 opened new positions — a net loss of 12 holders — while 55 trimmed existing stakes and 65 added.
The largest buyer was Van Berkom & Associates, adding an estimated $24.3M. The largest seller was Capital Research Global Investors, exiting entirely with an estimated $43M sold.
- 165 institutional investors held Liquidity Services (LQDT) as of Q4 2013, down from 177 in Q3 2013.
- Funds reported $686M of Liquidity Services stock for Q4 2013, down 39% quarter-over-quarter.
- 32 funds opened new Liquidity Services positions in Q4 2013 and 44 closed out, a net change of -12 holders.
- The largest Liquidity Services buyer in Q4 2013 was Van Berkom & Associates, an estimated $24.3M added.
- The largest Liquidity Services seller in Q4 2013 was Capital Research Global Investors, an estimated $43M sold.
Based on aggregated 13F filings for Q4 2013.