System1
32 hedge funds and large institutions have $421M invested in System1 in 2022 Q1 according to their latest regulatory filings, with 19 funds opening new positions, 3 increasing their positions, 9 reducing their positions, and 72 closing their positions.
325% more call options, than puts
Call options by funds: $53.9M | Put options by funds: $12.7M
5.42% less ownership
Funds ownership: 8.97% → 3.56% (-5.4%)
8% less capital invested
Capital invested by funds: $458M → $421M (-$36.4M)
62% less funds holding
Funds holding: 85 → 32 (-53)
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
67% less repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 9
74% less first-time investments, than exits
New positions opened: 19 | Existing positions closed: 72
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CH
Cannae Holdings
Las Vegas,
Nevada
|
+$334M |
| 2 |
BlackRock
New York
|
+$2.97M |
| 3 |
Vanguard Group
Malvern,
Pennsylvania
|
+$2.91M |
| 4 |
Geode Capital Management
Boston,
Massachusetts
|
+$2.08M |
| 5 |
Charles Schwab
San Francisco,
California
|
+$1.25M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
-$51.4M |
| 2 |
BCM
Beryl Capital Management
Redondo Beach,
California
|
-$36.1M |
| 3 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$22.4M |
| 4 |
HSBC Holdings
London,
United Kingdom
|
-$18.9M |
| 5 |
Millennium Management
New York
|
-$18.6M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
MIG
101
Mariner Investment Group
Harrison,
New York
| – | -$100K | -1,000 | Closed |
|
|
EAM
102
Exos Asset Management
New York
| – | -$87K | -873 | Closed |
|
|
AA
103
Ancora Advisors
Cleveland,
Ohio
| – | -$21K | -210 | Closed |
|
104
UBS Group
Zurich,
Switzerland
| – | -$4K | -38 | Closed |
|
SST Hedge Fund Activity: Q1 2022 in Review
32 of the 6,340 institutional investors tracked by Wall St. Rank reported a position in System1 (SST) for Q1 2022, worth a combined $421M — down 8% from $458M a quarter earlier.
Sellers outnumbered buyers: 72 funds closed out of SST and 19 opened new positions — a net loss of 53 holders — while 9 trimmed existing stakes and 3 added.
The largest buyer was Cannae Holdings, opening a new position worth an estimated $334M. The largest seller was Citadel Advisors, cutting an estimated $51.4M.
- 32 institutional investors held System1 (SST) as of Q1 2022, down from 85 in Q4 2021.
- Funds reported $421M of System1 stock for Q1 2022, down 8% quarter-over-quarter.
- 19 funds opened new System1 positions in Q1 2022 and 72 closed out, a net change of -53 holders.
- The largest System1 buyer in Q1 2022 was Cannae Holdings, an estimated $334M added.
- The largest System1 seller in Q1 2022 was Citadel Advisors, an estimated $51.4M sold.
Based on aggregated 13F filings for Q1 2022.