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Research Frontiers
REFR

34 hedge funds and large institutions have $3.29M invested in Research Frontiers in 2023 Q4 according to their latest regulatory filings, with 3 funds opening new positions, 8 increasing their positions, 12 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.21% more ownership

Funds ownership: 9.48% → 9.69% (+0.21%)

4% less capital invested

Capital invested by funds: $3.43M → $3.29M (-$142K)

8% less funds holding

Funds holding: 37 → 34 (-3)

33% less repeat investments, than reductions

Existing positions increased: 8 | Existing positions reduced: 12

50% less first-time investments, than exits

New positions opened: 3 | Existing positions closed: 6

Holders
34
Holders Change
-3
Holders Change %
-8.11%
% of All Funds
0.5%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
3
Increased
8
Reduced
12
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$187K
2
GW
GW & Wade
Massachusetts
+$75.4K
3
Renaissance Technologies
Renaissance Technologies
New York
+$73.2K
4
Citadel Advisors
Citadel Advisors
Florida
+$28.8K
5
VF
Virtu Financial
New York
+$16.9K

Top Sellers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
-$100K
2
Vanguard Group
Vanguard Group
Pennsylvania
-$48.9K
3
WWP
WR Wealth Planners
Missouri
-$38.4K
4
HF
HRT Financial
New York
-$35.3K
5
Jane Street
Jane Street
New York
-$31K
Name Holding Trade Value Shares
Change 		Change in
Stake
TRCT
26
Tower Research Capital (TRC)
New York
$10.5K +$1.7K +1,640 +19%
HWM
27
HB Wealth Management
Georgia
$10.1K – – –
Simplex Trading
28
Simplex Trading
Illinois
$3K +$3.87K +3,723 +3,919%
JP Morgan Chase
29
JP Morgan Chase
New York
$1.05K -$189 -182 -15%
Osaic Holdings
30
Osaic Holdings
Arizona
$1.01K – – –
BNP Paribas Financial Markets
31
BNP Paribas Financial Markets
France
$809 – – –
FG
32
Fairman Group
Pennsylvania
$126 +$130 +125 New
Qube Research & Technologies (QRT)
33
Qube Research & Technologies (QRT)
United Kingdom
$1 -$561 -540 -100%
Jane Street
34
Jane Street
New York
– -$31K -28,717 Closed
DCM
35
Dudley Capital Management
Virginia
– -$16.3K -15,100 Closed
Cambridge Investment Research Advisors
36
Cambridge Investment Research Advisors
Iowa
– -$13K -12,166 Closed
Squarepoint
37
Squarepoint
New York
– -$11.6K -10,733 Closed
CSPIA
38
Cary Street Partners Investment Advisory
Virginia
– -$4.32K -4,000 Closed
UBS Group
39
UBS Group
Switzerland
– -$732 -678 Closed
Royal Bank of Canada
40
Royal Bank of Canada
Ontario, Canada
– +$234 +225 +135%
1
2

REFR Hedge Fund Activity: Q4 2023 in Review

34 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Research Frontiers (REFR) for Q4 2023, worth a combined $3.29M — down 4.1% from $3.43M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of REFR and 3 opened new positions — a net loss of 3 holders — while 12 trimmed existing stakes and 8 added.

The largest buyer was Morgan Stanley, adding an estimated $187K. The largest seller was Millennium Management, cutting an estimated $100K.

  • 34 institutional investors held Research Frontiers (REFR) as of Q4 2023, down from 37 in Q3 2023.
  • Funds reported $3.29M of Research Frontiers stock for Q4 2023, down 4.1% quarter-over-quarter.
  • 3 funds opened new Research Frontiers positions in Q4 2023 and 6 closed out, a net change of -3 holders.
  • The largest Research Frontiers buyer in Q4 2023 was Morgan Stanley, an estimated $187K added.
  • The largest Research Frontiers seller in Q4 2023 was Millennium Management, an estimated $100K sold.

Based on aggregated 13F filings for Q4 2023.