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Research Frontiers
REFR

36 hedge funds and large institutions have $5.03M invested in Research Frontiers in 2017 Q3 according to their latest regulatory filings, with 7 funds opening new positions, 6 increasing their positions, 7 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

75% more first-time investments, than exits

New positions opened: 7 | Existing positions closed: 4

9% more funds holding

Funds holding: 33 → 36 (+3)

0.09% more ownership

Funds ownership: 17.49% → 17.57% (+0.09%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

7% less capital invested

Capital invested by funds: $5.42M → $5.03M (-$391K)

14% less repeat investments, than reductions

Existing positions increased: 6 | Existing positions reduced: 7

Holders
36
Holders Change
+3
Holders Change %
+9.09%
% of All Funds
0.9%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
7
Increased
6
Reduced
7
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SRC
Shufro Rose & Co
New York
+$38.4K
2
GCM
Goldman Capital Management
New York
+$37.2K
3
Citadel Advisors
Citadel Advisors
Florida
+$18.9K
4
TSS
Two Sigma Securities
New York
+$16.5K
5
Renaissance Technologies
Renaissance Technologies
New York
+$12.5K

Top Sellers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
-$38.8K
2
CIS
Connors Investor Services
Pennsylvania
-$29.8K
3
SI
Stephens Inc
Arkansas
-$26K
4
OA
Outfitter Advisors
Virginia
-$14.4K
5
Creative Planning
Creative Planning
Kansas
-$8K
Name Holding Trade Value Shares
Change 		Change in
Stake
GCM
1
Goldman Capital Management
New York
$2.52M +$37.2K +31,000 +1%
BlackRock
2
BlackRock
New York
$844K -$2.26K -1,886 -0.3%
Vanguard Group
3
Vanguard Group
Pennsylvania
$626K -$38.8K -32,409 -6%
SRC
4
Shufro Rose & Co
New York
$196K +$38.4K +32,000 +24%
CIS
5
Connors Investor Services
Pennsylvania
$118K -$29.8K -24,839 -20%
Geode Capital Management
6
Geode Capital Management
Massachusetts
$114K – – –
California Public Employees Retirement System
7
California Public Employees Retirement System
California
$75K – – –
Northern Trust
8
Northern Trust
Illinois
$52K – – –
FAAS
9
First Allied Advisory Services
California
$45K – – –
Fiera Capital (Canada)
10
Fiera Capital (Canada)
Quebec, Canada
$39K – – –
T. Rowe Price Associates
11
T. Rowe Price Associates
Maryland
$38K – – –
UCFA
12
United Capital Financial Advisors
Texas
$35K – – –
RJA
13
Raymond James & Associates
Florida
$33K – – –
OA
14
Outfitter Advisors
Virginia
$29K -$14.4K -12,000 -33%
ISL
15
Ingalls & Snyder LLC
New York
$29K -$240 -200 -0.8%
Bank of New York Mellon
16
Bank of New York Mellon
New York
$29K – – –
Cambridge Investment Research Advisors
17
Cambridge Investment Research Advisors
Iowa
$26K +$4.92K +4,100 +23%
Susquehanna International Group
18
Susquehanna International Group
Pennsylvania
$24K +$10.6K +8,862 +77%
PFS
19
Prospera Financial Services
Texas
$23K – – –
Wells Fargo
20
Wells Fargo
California
$23K – – –
Citadel Advisors
21
Citadel Advisors
Florida
$19K +$18.9K +15,762 New
TSS
22
Two Sigma Securities
New York
$16K +$16.5K +13,800 New
State Street
23
State Street
Massachusetts
$13K – – –
Morgan Stanley
24
Morgan Stanley
New York
$12K -$718 -599 -5%
HB
25
Homrich & Berg
Georgia
$12K – – –
1
2

REFR Hedge Fund Activity: Q3 2017 in Review

36 of the 4,012 institutional investors tracked by Wall St. Rank reported a position in Research Frontiers (REFR) for Q3 2017, worth a combined $5.03M — down 7.2% from $5.42M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new REFR positions and 4 closed out — a net gain of 3 holders — while 6 added to existing stakes and 7 trimmed.

The largest buyer was Shufro Rose & Co, adding an estimated $38.4K. The largest seller was Vanguard Group, cutting an estimated $38.8K.

  • 36 institutional investors held Research Frontiers (REFR) as of Q3 2017, up from 33 in Q2 2017.
  • Funds reported $5.03M of Research Frontiers stock for Q3 2017, down 7.2% quarter-over-quarter.
  • 7 funds opened new Research Frontiers positions in Q3 2017 and 4 closed out, a net change of +3 holders.
  • The largest Research Frontiers buyer in Q3 2017 was Shufro Rose & Co, an estimated $38.4K added.
  • The largest Research Frontiers seller in Q3 2017 was Vanguard Group, an estimated $38.8K sold.

Based on aggregated 13F filings for Q3 2017.