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Liquidity Services

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.

New
Increased
Maintained
Reduced
Closed

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: 177165 (-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: 62 (-4)

Holders
165
Holders Change
-12
Holders Change %
-6.78%
% of All Funds
4.79%
Holding in Top 10
2
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-66.67%
% of All Funds
0.06%
New
32
Increased
65
Reduced
55
Closed
44
Calls
$8.61M
Puts
$6.97M
Net Calls
+$1.64M
Net Calls Change
+$2.01M
Name Holding Trade Value Shares
Change
Change in
Stake
NSCM
1
New South Capital Management
Tennessee
$52.9M -$2.96M -117,675 -5%
VBA
2
Van Berkom & Associates
Quebec, Canada
$49M +$24.3M +967,053 +81%
Vanguard Group
3
Vanguard Group
Pennsylvania
$37.9M +$2.1M +83,540 +5%
CPCM
4
Clifton Park Capital Management
Delaware
$34.2M +$256K +10,164 +0.7%
BFA
5
BlackRock Fund Advisors
California
$31.2M +$787K +31,262 +2%
CWAM
6
Columbia Wanger Asset Management
Illinois
$28.8M -$159K -6,300 -0.5%
BTW
7
Boston Trust Walden
Massachusetts
$25.7M -$1.99M -79,223 -7%
Capital World Investors
8
Capital World Investors
California
$21M +$8.43M +335,000 +57%
WC
9
Weatherbie Capital
Massachusetts
$18.3M -$2.87M -113,940 -12%
KCM
10
Kornitzer Capital Management
Kansas
$18.1M -$15.3M -606,700 -43%
TI
11
Trigran Investments
Illinois
$18M +$9.2M +365,562 +85%
GIM
12
Granahan Investment Management
Massachusetts
$17.6M -$18.6M -740,676 -49%
Royal Bank of Canada
13
Royal Bank of Canada
Ontario, Canada
$16M +$6.47M +257,276 +58%
BIT
14
BlackRock Institutional Trust
California
$15.1M +$202K +8,031 +1%
EBIM
15
Eagle Boston Investment Management
Massachusetts
$13.1M +$3.77M +149,692 +35%
MPMG
16
Minneapolis Portfolio Management Group
Minnesota
$13M -$4.45M -176,936 -24%
State Street
17
State Street
Massachusetts
$11.2M +$175K +6,936 +1%
ZIG
18
Zuckerman Investment Group
Illinois
$11M +$12.2M +485,975 New
CCMLC
19
Cardinal Capital Management LLC (Connecticut)
Connecticut
$10.7M +$1.25M +49,849 +12%
Fidelity Investments
20
Fidelity Investments
Massachusetts
$10.2M +$11.3M +450,000 New
Northern Trust
21
Northern Trust
Illinois
$8.88M -$970K -38,535 -9%
PAMU
22
Pictet Asset Management (UK)
United Kingdom
$8.88M +$4.47M +177,585 +83%
Ameriprise
23
Ameriprise
Minnesota
$8.73M -$227K -9,039 -2%
WIM
24
Weitz Investment Management
Nebraska
$7.7M +$8.56M +340,000 New
GAM
25
Gotham Asset Management
New York
$7.69M +$7.15M +283,943 +512%

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.