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Research Frontiers
REFR

32 hedge funds and large institutions have $8.41M invested in Research Frontiers in 2019 Q4 according to their latest regulatory filings, with 4 funds opening new positions, 11 increasing their positions, 6 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

102% more call options, than puts

Call options by funds: $240K | Put options by funds: $119K

83% more repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 6

0.14% less ownership

Funds ownership: 9.13% → 8.99% (-0.14%)

7% less capital invested

Capital invested by funds: $9.07M → $8.41M (-$661K)

16% less funds holding

Funds holding: 38 → 32 (-6)

56% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 9

Holders
32
Holders Change
-6
Holders Change %
-15.79%
% of All Funds
0.63%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
11
Reduced
6
Closed
9
Calls
$240K
Puts
$119K
Net Calls
+$121K
Net Calls Change
-$251K

Top Buyers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
+$264K
2
Simplex Trading
Simplex Trading
Illinois
+$45.7K
3
Jane Street
Jane Street
New York
+$40.6K
4
SRC
Shufro Rose & Co
New York
+$20.8K
5
RCA
Ranch Capital Advisors
Florida
+$15.1K

Top Sellers

Rank Fund Capital Flow
1
FM
Family Management
New York
-$120K
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$114K
3
Group One Trading
Group One Trading
Illinois
-$89K
4
Wolverine Trading
Wolverine Trading
Illinois
-$83.8K
5
Citadel Advisors
Citadel Advisors
Florida
-$57.8K
Name Holding Trade Value Shares
Change 		Change in
Stake
UBS Group
26
UBS Group
Switzerland
$9K +$144 +45 +2%
CM
27
Caption Management
Oklahoma
$9K +$8.65K +2,700 New
WEC
28
Winslow Evans & Crocker
Massachusetts
$6K – – –
US Bancorp
29
US Bancorp
Minnesota
$3K – – –
Bank of Montreal
30
Bank of Montreal
Ontario, Canada
$2K – – –
LTFS
31
Ladenburg Thalmann Financial Services
Florida
$2K – – –
TI
32
tru Independence
Oregon
$2K +$3.21K +1,000 New
FM
33
Family Management
New York
– -$120K -37,378 Closed
Wolverine Trading
34
Wolverine Trading
Illinois
– -$83.8K -26,154 Closed
ECM
35
ExodusPoint Capital Management
New York
– -$43K -13,500 Closed
Victory Capital Management
36
Victory Capital Management
Texas
– -$16K -4,855 Closed
AG
37
Advisor Group
Arizona
– -$9K -2,900 Closed
HI
38
Human Investing
Oregon
– -$6K -2,000 Closed
AIC
39
Ameritas Investment Company
Nebraska
– -$6K -1,750 Closed
TRCT
40
Tower Research Capital (TRC)
New York
– -$2K -686 Closed
GWM
41
Geneos Wealth Management
Colorado
– -$1K -300 Closed
1
2

REFR Hedge Fund Activity: Q4 2019 in Review

32 of the 5,076 institutional investors tracked by Wall St. Rank reported a position in Research Frontiers (REFR) for Q4 2019, worth a combined $8.41M — down 7.3% from $9.07M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of REFR and 4 opened new positions — a net loss of 5 holders — while 6 trimmed existing stakes and 11 added.

The largest buyer was Vanguard Group, adding an estimated $264K. The largest seller was Family Management, exiting entirely with an estimated $120K sold.

  • 32 institutional investors held Research Frontiers (REFR) as of Q4 2019, down from 38 in Q3 2019.
  • Funds reported $8.41M of Research Frontiers stock for Q4 2019, down 7.3% quarter-over-quarter.
  • 4 funds opened new Research Frontiers positions in Q4 2019 and 9 closed out, a net change of -5 holders.
  • The largest Research Frontiers buyer in Q4 2019 was Vanguard Group, an estimated $264K added.
  • The largest Research Frontiers seller in Q4 2019 was Family Management, an estimated $120K sold.

Based on aggregated 13F filings for Q4 2019.