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System1
SST

54 hedge funds and large institutions have $13.2M invested in System1 in 2025 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 18 increasing their positions, 12 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 12

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0.34% less ownership

Funds ownership: 4.98% → 4.64% (-0.34%)

7% less funds holding

Funds holding: 58 → 54 (-4)

57% less first-time investments, than exits

New positions opened: 3 | Existing positions closed: 7

58% less capital invested

Capital invested by funds: $31.6M → $13.2M (-$18.4M)

Holders
54
Holders Change
-4
Holders Change %
-6.9%
% of All Funds
0.72%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
3
Increased
18
Reduced
12
Closed
7
Calls
$83K
Puts
–
Net Calls
+$83K
Net Calls Change
-$343K

Top Buyers

Rank Fund Capital Flow
1
GCP
GSA Capital Partners
United Kingdom
+$72.9K
2
Northern Trust
Northern Trust
Illinois
+$30.5K
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$13.7K
4
Jane Street
Jane Street
New York
+$13.4K
5
Group One Trading
Group One Trading
Illinois
+$12.9K

Top Sellers

Rank Fund Capital Flow
1
AA
Ancora Advisors
Ohio
-$175K
2
PRCP
Pacific Ridge Capital Partners
Oregon
-$125K
3
Millennium Management
Millennium Management
New York
-$101K
4
TSS
Two Sigma Securities
New York
-$65.5K
5
BCM
Bridgeway Capital Management
Texas
-$49.1K
Name Holding Trade Value Shares
Change 		Change in
Stake
New York State Common Retirement Fund
26
New York State Common Retirement Fund
New York
$8.57K – – –
Group One Trading
27
Group One Trading
Illinois
$8K +$12.9K +2,099 New
ATWA
28
Arbor Trust Wealth Advisors
Michigan
$7.99K – – –
T. Rowe Price Associates
29
T. Rowe Price Associates
Maryland
$7K – – –
Citigroup
30
Citigroup
New York
$6.8K -$675 -110 -6%
TRCT
31
Tower Research Capital (TRC)
New York
$6.58K +$4K +651 +61%
UBS Group
32
UBS Group
Switzerland
$6.4K -$7.94K -1,293 -43%
SEI Investments
33
SEI Investments
Pennsylvania
$6.18K – – –
EW
34
Evoke Wealth
California
$5.74K +$31 +5 +0.3%
Mirae Asset Global ETFs Holdings
35
Mirae Asset Global ETFs Holdings
Hong Kong
$5.35K +$387 +63 +5%
Fidelity Investments
36
Fidelity Investments
Massachusetts
$5.04K +$7.31K +1,191 +909%
AA
37
Aire Advisors
California
$4.58K – – –
CF
38
Corebridge Financial
Texas
$4.5K +$18 +3 +0.3%
Wells Fargo
39
Wells Fargo
California
$4.39K +$264 +43 +4%
Invesco
40
Invesco
Georgia
$4.26K – – –
Royal Bank of Canada
41
Royal Bank of Canada
Ontario, Canada
$2K +$1.92K +312 +100%
Legal & General Group
42
Legal & General Group
United Kingdom
$1.16K – – –
Carson Wealth (CWM LLC)
43
Carson Wealth (CWM LLC)
Nebraska
$1K +$731 +119 +70%
AIP
44
Ameritas Investment Partners
Nebraska
$780 – – –
BNP Paribas Financial Markets
45
BNP Paribas Financial Markets
France
$762 -$675 -110 -35%
California State Teachers Retirement System (CalSTRS)
46
California State Teachers Retirement System (CalSTRS)
California
$647 – – –
Nisa Investment Advisors
47
Nisa Investment Advisors
Missouri
$267 +$74 +12 +21%
Osaic Holdings
48
Osaic Holdings
Arizona
$266 – – –
SS
49
SBI Securities
Japan
$230 – – –
Russell Investments Group
50
Russell Investments Group
United Kingdom
$67 – – –
1
2
3

SST Hedge Fund Activity: Q1 2025 in Review

54 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in System1 (SST) for Q1 2025, worth a combined $13.2M — down 58% from $31.6M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of SST and 3 opened new positions — a net loss of 4 holders — while 12 trimmed existing stakes and 18 added.

The largest buyer was GSA Capital Partners, opening a new position worth an estimated $72.9K. The largest seller was Ancora Advisors, exiting entirely with an estimated $175K sold.

  • 54 institutional investors held System1 (SST) as of Q1 2025, down from 58 in Q4 2024.
  • Funds reported $13.2M of System1 stock for Q1 2025, down 58% quarter-over-quarter.
  • 3 funds opened new System1 positions in Q1 2025 and 7 closed out, a net change of -4 holders.
  • The largest System1 buyer in Q1 2025 was GSA Capital Partners, an estimated $72.9K added.
  • The largest System1 seller in Q1 2025 was Ancora Advisors, an estimated $175K sold.

Based on aggregated 13F filings for Q1 2025.