Precision Drilling
112 hedge funds and large institutions have $332M invested in Precision Drilling in 2023 Q1 according to their latest regulatory filings, with 20 funds opening new positions, 43 increasing their positions, 29 reducing their positions, and 15 closing their positions.
48% more repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 29
33% more first-time investments, than exits
New positions opened: 20 | Existing positions closed: 15
3% more funds holding
Funds holding: 109 → 112 (+3)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
7% less ownership
Funds ownership: 53.96% → 46.96% (-7%)
31% less call options, than puts
Call options by funds: $5.45M | Put options by funds: $7.95M
40% less capital invested
Capital invested by funds: $551M → $332M (-$219M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NAM
NewGen Asset Management
Toronto,
Ontario, Canada
|
+$9.68M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$9.39M |
| 3 |
IIM
Intact Investment Management
Montreal,
Quebec, Canada
|
+$8.46M |
| 4 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$7.28M |
| 5 |
Acadian Asset Management
Boston,
Massachusetts
|
+$6.99M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$51.2M |
| 2 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
-$23.5M |
| 3 |
Fidelity International
Hamilton,
Bermuda
|
-$13.6M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$12.3M |
| 5 |
State of Wisconsin Investment Board
Madison,
Wisconsin
|
-$10.6M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
126
Optiver Holding
Amsterdam,
Netherlands
| – | -$1K | -11 | Closed |
|
|
MS
127
Marshall & Sullivan
Seattle,
Washington
| – | -$767 | -10 | Closed |
|
PDS Hedge Fund Activity: Q1 2023 in Review
112 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Precision Drilling (PDS) for Q1 2023, worth a combined $332M — down 40% from $551M a quarter earlier.
Buyers outnumbered sellers: 20 funds opened new PDS positions and 15 closed out — a net gain of 5 holders — while 43 added to existing stakes and 29 trimmed.
The largest buyer was NewGen Asset Management, opening a new position worth an estimated $9.68M. The largest seller was Fidelity Investments, exiting entirely with an estimated $51.2M sold.
- 112 institutional investors held Precision Drilling (PDS) as of Q1 2023, up from 109 in Q4 2022.
- Funds reported $332M of Precision Drilling stock for Q1 2023, down 40% quarter-over-quarter.
- 20 funds opened new Precision Drilling positions in Q1 2023 and 15 closed out, a net change of +5 holders.
- The largest Precision Drilling buyer in Q1 2023 was NewGen Asset Management, an estimated $9.68M added.
- The largest Precision Drilling seller in Q1 2023 was Fidelity Investments, an estimated $51.2M sold.
Based on aggregated 13F filings for Q1 2023.