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Tucows
TCX

61 hedge funds and large institutions have $104M invested in Tucows in 2025 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 20 increasing their positions, 19 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

33% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 6

3% more funds holding

Funds holding: 59 → 61 (+2)

5% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 19

12.14% less ownership

Funds ownership: 68.07% → 55.93% (-12%)

18% less capital invested

Capital invested by funds: $128M → $104M (-$23.3M)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

97% less call options, than puts

Call options by funds: $59K | Put options by funds: $2.06M

Holders
61
Holders Change
+2
Holders Change %
+3.39%
% of All Funds
0.82%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.01%
New
8
Increased
20
Reduced
19
Closed
6
Calls
$59K
Puts
$2.06M
Net Calls
-$2M
Net Calls Change
+$736K

Top Buyers

Rank Fund Capital Flow
1
Universal-Beteiligungs- und Servicegesellschaft
Universal-Beteiligungs- und Servicegesellschaft
Germany
+$8.88M
2
BFM
Blacksheep Fund Management
Ireland
+$3.27M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$641K
4
Citadel Advisors
Citadel Advisors
Florida
+$569K
5
Connor, Clark & Lunn Investment Management (CC&L)
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
+$523K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$1.36M
2
Millennium Management
Millennium Management
New York
-$361K
3
HF
HRT Financial
New York
-$260K
4
BlackRock
BlackRock
New York
-$207K
5
State Street
State Street
Massachusetts
-$178K
Name Holding Trade Value Shares
Change 		Change in
Stake
Fidelity Investments
51
Fidelity Investments
Massachusetts
$6.8K +$3.42K +197 +96%
AB
52
Amalgamated Bank
New York
$6K – – –
Carson Wealth (CWM LLC)
53
Carson Wealth (CWM LLC)
Nebraska
$3K +$921 +53 +38%
VCM
54
Versant Capital Management
Arizona
$1.22K +$382 +22 +44%
Nisa Investment Advisors
55
Nisa Investment Advisors
Missouri
$1.15K +$921 +53 +353%
MSWM
56
Mowery & Schoenfeld Wealth Management
Illinois
$996 +$1.02K +59 New
Russell Investments Group
57
Russell Investments Group
United Kingdom
$743 +$347 +20 +83%
GI
58
GAMMA Investing
California
$709 -$278 -16 -28%
EWA
59
EverSource Wealth Advisors
Alabama
$203 +$208 +12 New
SCM
60
Sterling Capital Management
North Carolina
$135 – – –
TWD
61
True Wealth Design
Ohio
$85 +$87 +5 New
IFLIT
62
Investmentaktiengesellschaft Fuer Langfristige Investoren TGV
Germany
– -$33.4M -2,014,594 Closed
Millennium Management
63
Millennium Management
New York
– -$361K -21,056 Closed
HF
64
HRT Financial
New York
– -$260K -15,201 Closed
RS
65
R Squared
Hong Kong
– -$32.1K -1,870 Closed
FDCDDQ
66
Federation des caisses Desjardins du Quebec
Quebec, Canada
– -$1.28K -75 Closed
BBHC
67
Brown Brothers Harriman & Co
New York
– -$857 -50 Closed
1 2
3

TCX Hedge Fund Activity: Q1 2025 in Review

61 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Tucows (TCX) for Q1 2025, worth a combined $104M — down 18% from $128M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new TCX positions and 6 closed out — a net gain of 2 holders — while 20 added to existing stakes and 19 trimmed.

The largest buyer was Universal-Beteiligungs- und Servicegesellschaft, opening a new position worth an estimated $8.88M. The largest seller was Morgan Stanley, cutting an estimated $1.36M.

  • 61 institutional investors held Tucows (TCX) as of Q1 2025, up from 59 in Q4 2024.
  • Funds reported $104M of Tucows stock for Q1 2025, down 18% quarter-over-quarter.
  • 8 funds opened new Tucows positions in Q1 2025 and 6 closed out, a net change of +2 holders.
  • The largest Tucows buyer in Q1 2025 was Universal-Beteiligungs- und Servicegesellschaft, an estimated $8.88M added.
  • The largest Tucows seller in Q1 2025 was Morgan Stanley, an estimated $1.36M sold.

Based on aggregated 13F filings for Q1 2025.