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System1
SST

69 hedge funds and large institutions have $389M invested in System1 in 2020 Q4 according to their latest regulatory filings, with 25 funds opening new positions, 13 increasing their positions, 12 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

2,400% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 1

53% more funds holding

Funds holding: 45 → 69 (+24)

43% more capital invested

Capital invested by funds: $272M → $389M (+$116M)

1.48% more ownership

Funds ownership: 5.5% → 6.99% (+1.5%)

8% more repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 12

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

Holders
69
Holders Change
+24
Holders Change %
+53.33%
% of All Funds
1.22%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
25
Increased
13
Reduced
12
Closed
1
Calls
$2.16M
Puts
–
Net Calls
+$2.16M
Net Calls Change
+$1.06M

Top Buyers

Rank Fund Capital Flow
1
TEC
Tiger Eye Capital
Tennessee
+$14.4M
2
UOC
UBS O'Connor
Illinois
+$11.8M
3
Blackstone Inc
Blackstone Inc
New York
+$10.2M
4
SSA
Schonfeld Strategic Advisors
New York
+$10.2M
5
PC
Periscope Capital
Ontario, Canada
+$8.15M

Top Sellers

Rank Fund Capital Flow
1
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
-$10.2M
2
PAMP
Polar Asset Management Partners
Ontario, Canada
-$9.44M
3
MI
MMCAP International
Cayman Islands
-$3.38M
4
SC
Sculptor Capital
New York
-$2.03M
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$1.94M
Name Holding Trade Value Shares
Change 		Change in
Stake
Goldman Sachs
26
Goldman Sachs
New York
$5.98M +$283K +2,792 +5%
RCM
27
Radcliffe Capital Management
Pennsylvania
$5.77M – – –
WCA
28
Waratah Capital Advisors
Ontario, Canada
$5.06M +$4.76M +46,872 New
LA
29
Linden Advisors
New York
$4.9M – – –
PMAM
30
Picton Mahoney Asset Management
Ontario, Canada
$4.86M – – –
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
31
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
$4.81M -$10.2M -100,322 -69%
BCM
32
Beryl Capital Management
California
$4.36M -$181K -1,779 -4%
D.E. Shaw & Co
33
D.E. Shaw & Co
New York
$4.31M +$3.04M +29,980 +300%
HSBC Holdings
34
HSBC Holdings
United Kingdom
$4.26M – – –
GCL
35
Glazer Capital LLC
New York
$3.82M +$3.59M +35,380 New
BGIM
36
Boussard & Gavaudan Investment Management
United Kingdom
$3.72M – – –
Marshall Wace
37
Marshall Wace
United Kingdom
$2.7M +$2.54M +24,999 New
FTCM
38
First Trust Capital Management
Illinois
$2.63M +$1.89M +18,660 +326%
TCM
39
Tenor Capital Management
New York
$2.43M – – –
BPIM
40
Brant Point Investment Management
New York
$2.36M +$2.22M +21,845 New
CL
41
CSS LLC
Illinois
$2.34M +$1.87M +18,376 +556%
Verition Fund Management
42
Verition Fund Management
Connecticut
$1.89M -$1.23M -12,085 -41%
PCM
43
Poehling Capital Management
Wisconsin
$1.69M -$142K -1,394 -9%
GCIA
44
Gabelli & Co Investment Advisers
New York
$1.43M +$1.34M +13,212 New
CC
45
Carlson Capital
Texas
$1.29M +$1.22M +12,000 New
MS
46
Maven Securities
Jersey
$1.08M -$508K -5,000 -33%
DCM
47
Dupont Capital Management
Delaware
$1.08M – – –
WRBC
48
W.R. Berkley Corp
Connecticut
$1.07M – – –
NRCM
49
Northern Right Capital Management
Connecticut
$1.03M +$972K +9,570 New
WIC
50
Water Island Capital
New York
$1.03M – – –
1
2
3

SST Hedge Fund Activity: Q4 2020 in Review

69 of the 5,651 institutional investors tracked by Wall St. Rank reported a position in System1 (SST) for Q4 2020, worth a combined $389M — up 43% from $272M a quarter earlier.

Buyers outnumbered sellers: 25 funds opened new SST positions and 1 closed out — a net gain of 24 holders — while 13 added to existing stakes and 12 trimmed.

The largest buyer was Tiger Eye Capital, opening a new position worth an estimated $14.4M. The largest seller was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, cutting an estimated $10.2M.

  • 69 institutional investors held System1 (SST) as of Q4 2020, up from 45 in Q3 2020.
  • Funds reported $389M of System1 stock for Q4 2020, up 43% quarter-over-quarter.
  • 25 funds opened new System1 positions in Q4 2020 and 1 closed out, a net change of +24 holders.
  • The largest System1 buyer in Q4 2020 was Tiger Eye Capital, an estimated $14.4M added.
  • The largest System1 seller in Q4 2020 was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, an estimated $10.2M sold.

Based on aggregated 13F filings for Q4 2020.