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Progress Software
PRGS

155 hedge funds and large institutions have $1.29B invested in Progress Software in 2013 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 58 increasing their positions, 61 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

8% more capital invested

Capital invested by funds: $1.19B → $1.29B (+$99.3M)

5% less repeat investments, than reductions

Existing positions increased: 58 | Existing positions reduced: 61

6% less funds holding

Funds holding: 165 → 155 (-10)

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

45% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 20

Holders
155
Holders Change
-10
Holders Change %
-6.06%
% of All Funds
5.03%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.06%
New
11
Increased
58
Reduced
61
Closed
20
Calls
$220K
Puts
–
Net Calls
+$220K
Net Calls Change
-$23K

Top Buyers

Rank Fund Capital Flow
1
BA
BlackRock Advisors
Delaware
+$9.74M
2
CIP
Chartwell Investment Partners
Pennsylvania
+$8.07M
3
FIM
Foresters Investment Management
New York
+$6.96M
4
BFA
BlackRock Fund Advisors
California
+$6.17M
5
BIT
BlackRock Institutional Trust
California
+$5.95M

Top Sellers

Rank Fund Capital Flow
1
SV
Starboard Value
New York
-$46.7M
2
Ameriprise
Ameriprise
Minnesota
-$7.98M
3
SAM
Sentinel Asset Management
Vermont
-$7.86M
4
Goldman Sachs
Goldman Sachs
New York
-$7.35M
5
PCMI
Paradigm Capital Management Inc
New York
-$7.18M
Name Holding Trade Value Shares
Change 		Change in
Stake
RFC
26
Russell Frank Company
Washington
$13.6M -$1.5M -59,587 -10%
GIM
27
Granahan Investment Management
Massachusetts
$9.67M +$897K +35,760 +11%
NAM
28
Netols Asset Management
Wisconsin
$9.02M -$645K -25,718 -7%
IIM
29
Ironwood Investment Management
Massachusetts
$8.68M -$2.83M -112,795 -25%
OAM
30
Oxford Asset Management
United Kingdom
$8.62M -$1.01M -40,310 -11%
PCMI
31
Paradigm Capital Management Inc
New York
$8.28M -$7.18M -285,925 -47%
Principal Financial Group
32
Principal Financial Group
Iowa
$8.09M +$98K +3,905 +1%
Geode Capital Management
33
Geode Capital Management
Massachusetts
$7.5M +$185K +7,382 +3%
California Public Employees Retirement System
34
California Public Employees Retirement System
California
$7.35M +$371K +14,800 +5%
QBFM
35
QS Batterymarch Financial Management
New York
$7.2M – – –
FIM
36
Foresters Investment Management
New York
$7.18M +$6.96M +277,325 New
SV
37
Starboard Value
New York
$6.46M -$46.7M -1,859,183 -88%
TCIM
38
TIAA CREF Investment Management
New York
$6.42M -$133K -5,292 -2%
Prudential Financial
39
Prudential Financial
New Jersey
$5.96M +$832K +33,154 +17%
HA
40
Heartland Advisors
Wisconsin
$5.41M – – –
BIM
41
BlackRock Investment Management
Delaware
$5.22M +$109K +4,340 +2%
New York State Teachers Retirement System (NYSTRS)
42
New York State Teachers Retirement System (NYSTRS)
New York
$4.55M -$133K -5,300 -3%
NTCOC
43
Northern Trust Company of Connecticut
Connecticut
$4.42M +$269K +10,700 +7%
Millennium Management
44
Millennium Management
New York
$4.37M +$2.4M +95,801 +131%
PFC
45
Phocas Financial Corp
California
$4.29M +$26.5K +1,056 +0.6%
BCM
46
Breithorn Capital Management
New York
$4.28M -$917K -36,556 -18%
Charles Schwab
47
Charles Schwab
California
$4.27M +$196K +7,821 +5%
Two Sigma Advisers
48
Two Sigma Advisers
New York
$4.09M +$532K +21,200 +15%
JP Morgan Chase
49
JP Morgan Chase
New York
$4.05M -$116K -4,626 -3%
Fisher Asset Management
50
Fisher Asset Management
Washington
$3.89M – – –
1
2
3 4 5

PRGS Hedge Fund Activity: Q3 2013 in Review

155 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Progress Software (PRGS) for Q3 2013, worth a combined $1.29B — up 8.3% from $1.19B a quarter earlier.

Sellers outnumbered buyers: 20 funds closed out of PRGS and 11 opened new positions — a net loss of 9 holders — while 61 trimmed existing stakes and 58 added.

The largest buyer was BlackRock Advisors, adding an estimated $9.74M. The largest seller was Starboard Value, cutting an estimated $46.7M.

  • 155 institutional investors held Progress Software (PRGS) as of Q3 2013, down from 165 in Q2 2013.
  • Funds reported $1.29B of Progress Software stock for Q3 2013, up 8.3% quarter-over-quarter.
  • 11 funds opened new Progress Software positions in Q3 2013 and 20 closed out, a net change of -9 holders.
  • The largest Progress Software buyer in Q3 2013 was BlackRock Advisors, an estimated $9.74M added.
  • The largest Progress Software seller in Q3 2013 was Starboard Value, an estimated $46.7M sold.

Based on aggregated 13F filings for Q3 2013.