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 298 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
298 funds currently hold this stock — 84% of the 3.0-year high of 353 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
19 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

189 buying162 selling
Last quarter: 189 funds bought or added vs 162 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 (-16 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 61 → 64 → 72 → 56. 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 298 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 — ~56 new funds/quarter

39 → 61 → 64 → 72 → 56 new funds/Q
New funds entering each quarter: 61 → 64 → 72 → 56. 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 312 holders: 218 (70%) are 2+ year veterans, 27 entered 1–2 years ago, and 67 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 42% AUM from top-100 funds

42% from top-100 AUM funds
54 of 297 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in VRNS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
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, 189 hedge funds were net buyers of VRNS (56 opened a new position, 133 added to an existing one), while 162 reduced or exited (84 trimmed, 78 sold completely) — a 54% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. 42% of total institutional value in VRNS is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -22 funds (more exits than new entries). Total institutional holders: 298.

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 Q2 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 June 30, 2026 · 46d ago
VRNS
+7.2%
XLK
-0.3%

VRNS outperformed XLK by +7.5% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 1d ago
VRNS
+0.0%
XLK
+0.0%

Since the filing became public, VRNS outperformed XLK by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near 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
2026 Q2 Stats Unlock in 4 days 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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Enterprise Value --
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Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

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:
2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
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 10.13% 382,088 $16.0M
2 Cadian Capital Management, LP 5.04% 1,585,693 $66.5M
3 Tremblant Capital Group 4.52% 3,749,840 $157.3M
4 American Capital Management Inc 4.22% 2,241,704 $94.1M
5 HERALD INVESTMENT MANAGEMENT Ltd 2.17% 380,834 $16.0M
6 Senvest Management, LLC 1.56% 1,270,877 $53.3M
7 Thames Capital Management LLC 1.32% 381,281 $16.0M
8 Stephens Investment Management Group LLC 0.97% 2,158,912 $90.6M
9 Emerald Advisers, LLC 0.83% 841,193 $35.3M
10 Emerald Mutual Fund Advisers Trust 0.82% 555,882 $23.3M
11 One68 Global Capital, LLC 0.73% 8,000 $336K
12 Intellectus Partners, LLC 0.71% 97,576 $4.1M
13 Oribel Capital Management, LP 0.57% 444,100 $18.6M
14 Oribel Capital Management, LP 0.57% 444,100 $18.6M
15 Jacobs Levy Equity Management, Inc 0.50% 3,331,623 $139.8M
16 Odyssean, LLC 0.45% 66,475 $2.8M
17 Washington Capital Management, Inc 0.41% 14,820 $622K
18 nVerses Capital, LLC 0.40% 6,263 $263K
19 IQ EQ FUND MANAGEMENT (IRELAND) Ltd 0.40% 148,542 $6.2M
20 Peregrine Capital Management LLC 0.38% 279,309 $11.7M
21 Mirova 0.23% 150,000 $6.3M
22 Concentric Capital Strategies, LP 0.23% 97,526 $4.1M
23 Neo Ivy Capital Management 0.19% 19,180 $805K
24 Bayforest Capital Ltd 0.17% 4,266 $179K
25 Nicholas Investment Partners, LP 0.16% 69,040 $2.9M
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: 189 funds bought or added vs 162 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?

Elite ownership — 42% AUM from top-100 funds: 54 of 297 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in VRNS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held VRNS?

64% of holders stayed for 2+ years: 191 out of 298 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 Q2 hedge fund 13F filings?

As of today, VRNS has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the XLK sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), VRNS has gained +7.2% vs -0.3% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near 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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