Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Varonis Sys Inc (VRNS)

296 + Investors. Track Smart Money conviction in VRNS. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -22
Streak
2Q ▼
Buyers last Q
54%

Smart Money Signals — VRNS

Based on 297 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their VRNS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 84% of 3.0Y peak

84% of all-time peak
297 funds currently hold this stock — 84% of the 3.0-year high of 352 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 6% fewer funds vs a year ago

fund count last 6Q
20 fewer hedge funds hold VRNS compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 54% buying

188 buying161 selling
Last quarter: 188 funds bought or added vs 161 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️

Fewer new buyers each quarter (-17 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 60 → 64 → 72 → 55. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

64% of holders stayed for 2+ years

■ 64% conviction (2yr+) ■ 15% medium ■ 20% new
191 out of 297 hedge funds have held VRNS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -3%, value -37%

Value
-37%
Shares
-3%
Last quarter: funds added -3% more shares while total portfolio value only changed -37%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~55 new funds/quarter

39 → 60 → 64 → 72 → 55 new funds/Q
New funds entering each quarter: 60 → 64 → 72 → 55. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 70% veterans vs 21% newcomers

■ 70% veterans ■ 9% 1-2yr ■ 21% new
Entry-cohort mix of 311 holders: 218 (70%) are 2+ year veterans, 27 entered 1–2 years ago, and 66 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 31% AUM from major funds

31% from top-100 AUM funds
51 of 296 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.7
out of 10
Low Exit Risk
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — VRNS

In 2026 Q1, 188 hedge funds were net buyers of VRNS (55 opened a new position, 133 added to an existing one), while 161 reduced or exited (84 trimmed, 77 sold completely) — a 54% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. 31% of total institutional value in VRNS is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -22 funds (more exits than new entries). Total institutional holders: 297.

Hedge Fund Ownership: VRNS

How many hedge funds hold VRNS — quarterly history vs. share price
Quarterly hedge fund ownership of VRNS vs. share price

Market Analysis: VRNS

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: VRNS

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Varonis Sys Inc (VRNS) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much VRNS has moved relative to its sector benchmark (XLK) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 75d ago
VRNS
+55.3%
XLK
+39.1%

VRNS outperformed XLK by +16.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
VRNS
+18.3%
XLK
+4.8%

Since the filing became public, VRNS outperformed XLK by +13.5% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

30 top-rated funds 1 high-conviction
Consensus
6.5
/ 10
breadth
×
Elite
1.7
/ 10
conviction
Hedge Fund Positioning: VRNS
296 + Investors

Track Smart Money conviction in VRNS. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 296 319 -7.21%
13F Shares 113M 117M -3.17%
Total Value $2.36B $3.77B -37.29%
New Positions 54 72 -18
Increased Positions 131 110 +21
Closed Positions 77 105 -28
Reduced Positions 78 104 -26
Total Calls 10 11 -9.09%
Total Puts 5 6 -16.67%
PUT/CALL Ratio 0.5 0.55 Bullish

Statistics: VRNS

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Profit Margin --
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Diluted EPS (ttm) --
Total Cash (mrq) --
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Institutional Holders (2026 Q1)

296 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in VRNS. Verified SEC 13F-HR filings.

QUARTER:
Top 25 VRNS holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Kopion Asset Management, LLC 8.28% 495,694 $10.6M
2 RGM Capital, LLC 5.03% 3,160,093 $103.7M
3 American Capital Management Inc 2.68% 2,328,379 $50.0M
4 Tremblant Capital Group 2.47% 3,579,668 $76.9M
5 HERALD INVESTMENT MANAGEMENT Ltd 1.39% 463,500 $10.0M
6 Senvest Management, LLC 1.03% 1,448,943 $31.1M
7 Emerald Advisers, LLC 0.59% 869,021 $18.7M
8 Stephens Investment Management Group LLC 0.59% 1,992,760 $42.8M
9 Emerald Mutual Fund Advisers Trust 0.58% 555,882 $11.9M
10 Intellectus Partners, LLC 0.43% 97,576 $2.1M
11 Sapience Investments, LLC 0.40% 145 $3K
12 Peregrine Capital Management LLC 0.26% 326,153 $7.0M
13 Harvey Partners, LLC 0.24% 140,000 $3.0M
14 Cinctive Capital Management LP 0.24% 169,722 $3.6M
15 Jacobs Levy Equity Management, Inc 0.23% 2,582,147 $55.4M
16 Neo Ivy Capital Management 0.21% 37,244 $800K
17 IQ EQ FUND MANAGEMENT (IRELAND) Ltd 0.21% 128,246 $2.8M
18 Concentric Capital Strategies, LP 0.19% 104,647 $2.2M
19 CenterBook Partners LP 0.17% 147,763 $3.2M
20 Compass Wealth Management LLC 0.16% 31,023 $666K
21 Alyeska Investment Group, L.P. 0.16% 2,625,186 $56.4M
22 Oribel Capital Management, LP 0.16% 165,300 $3.5M
23 BW Gestao de Investimentos Ltda. 0.14% 200,000 $4.3M
24 Fox Run Management, L.L.C. 0.13% 34,045 $721K
25 Perbak Capital Partners LLP 0.12% 23,236 $499K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Varonis Sys Inc (VRNS)

What does the Smart Money Trend signal show for VRNS?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their VRNS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for VRNS?

Slight buying edge — 54% buying: Last quarter: 188 funds bought or added vs 161 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for VRNS holders?

Strong quality — 31% AUM from major funds: 51 of 296 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held VRNS?

64% of holders stayed for 2+ years: 191 out of 297 hedge funds have held VRNS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Varonis Sys Inc (VRNS) following the 2026 Q1 hedge fund 13F filings?

As of today, VRNS has moved +18.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLK sector ETF — an outperformance of +13.5%. Since the quarter end (March 31, 2026), VRNS has gained +55.3% vs +39.1% for XLK. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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