Vault-13

DESCARTES SYS GROUP INC DSGX

COM · Common Stock · CUSIP 249906108 · ISIN CA2499061083

257 institutional holders -3 vs Q2 2023
66,995,58667.0m shares reported held*
$5.0bnreported value*
18 new 96 added 106 reduced 20 sold out net bought ≈ $23.9m (+26.7k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($8.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $74.15. Options: 5 managers hold calls ($1.9m notional), 3 hold puts ($623.7k).

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 225Q4 22: 228Q1 23: 258Q2 23: 260Q3 23: 257257Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 2022225
Q4 2022228
Q1 2023258
Q2 2023260
Q3 2023257

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 91 bought or addedQ4 22: 126 cut or sold outQ4 22Q1 23: 136 bought or addedQ1 23: 96 cut or sold outQ1 23Q2 23: 125 bought or addedQ2 23: 126 cut or sold outQ2 23Q3 23: 114 bought or addedQ3 23: 126 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 202291126
Q1 202313696
Q2 2023125126
Q3 2023114126

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3m$4mQ4 22 calls: $725.2kQ4 22 puts: $704.2kQ4 22P/C 0.97Q1 23 calls: $451.4kQ1 23 puts: $241.8kQ1 23P/C 0.54Q2 23 calls: $897.2kQ2 23 puts: $3.7mQ2 23P/C 4.07Q3 23 calls: $1.9mQ3 23 puts: $623.7kQ3 23P/C 0.34
Numbers
QuarterCallsPutsP/C
Q4 2022$725.2k$704.2k0.97
Q1 2023$451.4k$241.8k0.54
Q2 2023$897.2k$3.7m4.07
Q3 2023$1.9m$623.7k0.34

Biggest buyers

PRICE T ROWE ASSOCIATES INC /MD/ Added +548,291+548.3k
Man Group plc New +304,453+304.5k
Echo Street Capital Management LLC Added +269,368+269.4k
SEGALL BRYANT & HAMILL, LLC Added +254,166+254.2k
Baird Financial Group, Inc. Added +243,971+244.0k
MACKENZIE FINANCIAL CORP Added +227,972+228.0k
MILLENNIUM MANAGEMENT LLC Added +137,468+137.5k
MORGAN STANLEY Added +132,898+132.9k
Fiera Capital Corp Added +117,611+117.6k
Quadrature Capital Ltd Added +68,100+68.1k

Biggest sellers

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -417,005-417.0k
Man Group plc Sold out -271,840-271.8k
NATIONAL BANK OF CANADA /FI/ Reduced -162,406-162.4k
BANK OF AMERICA CORP /DE/ Reduced -140,186-140.2k
AGF MANAGEMENT LTD Reduced -121,367-121.4k
Triasima Portfolio Management inc. Sold out -120,120-120.1k
Hillsdale Investment Management Inc. Reduced -103,800-103.8k
AMERICAN CENTURY COMPANIES INC Reduced -101,770-101.8k
PRIMECAP MANAGEMENT CO/CA/ Reduced -95,548-95.5k
Invesco Ltd. Reduced -94,712-94.7k

Biggest calls

SIG North Trading, ULC Added $1.2m17.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $499.0k6.8k shares
CITADEL ADVISORS LLC Reduced $95.4k1.3k shares
SIMPLEX TRADING, LLC Added $14.0k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $572.4k7.8k shares
CITADEL ADVISORS LLC Reduced $51.4k700 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution -1.5 pts · filed 2026-08-14 6.6% -1.5 pts 5.7m≈ $392.6m 2026-08-14

Fell to 5% or below in the last year: BlackRock, Inc. (3.8%, 2026-10-27)

Insider purchases and sales in Q3 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q3 2023.

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 PRICE T ROWE ASSOCIATES INC /MD/ 0.09% of their portfolio BALTIMORE, MD 8,819,9228.8m $647.2m $647.2m 0.09% Added +548.3k +548,291
2 JARISLOWSKY, FRASER Ltd 2.14% of their portfolio MONTREAL, A8 4,454,4744.5m $328.5m $328.5m 2.14% Reduced -11.9k -11,872
3 Durable Capital Partners LP 2.37% of their portfolio Bethesda, MD 3,530,8063.5m $259.1m $259.1m 2.37% Unchanged
4 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 3,065,6623.1m $225.0m $225.0m 0.01% Added +49.4k +49,402
5 Conestoga Capital Advisors, LLC 3.81% of their portfolio WAYNE, PA 3,020,9143.0m $221.7m $221.7m 3.81% Added +20.9k +20,875
6 PRIMECAP MANAGEMENT CO/CA/ 0.16% of their portfolio PASADENA, CA 2,564,4532.6m $188.2m $188.2m 0.16% Reduced -95.5k -95,548
7 T. Rowe Price Investment Management, Inc. 0.12% of their portfolio BALTIMORE, MD 2,263,2962.3m $166.1m $166.1m 0.12% Added +12.4k +12,361
8 Fiera Capital Corp 0.52% of their portfolio MONTREAL, A8 2,215,8512.2m $163.1m $163.1m 0.52% Added +117.6k +117,611
9 Echo Street Capital Management LLC 1.26% of their portfolio New York, NY 1,849,8911.8m $135.8m $135.8m 1.26% Added +269.4k +269,368
10 MACKENZIE FINANCIAL CORP 0.21% of their portfolio TORONTO ONTARIO, A6 1,760,1281.8m $126.4m $126.4m 0.21% Added +228.0k +227,972
11 Connor, Clark & Lunn Investment Management Ltd. 0.59% of their portfolio VANCOUVER, A1 1,544,3001.5m $113.3m $113.3m 0.59% Added +41.9k +41,854
12 Invesco Ltd. 0.03% of their portfolio ATLANTA, GA 1,518,7011.5m $111.4m $111.4m 0.03% Reduced -94.7k -94,712
13 GENEVA CAPITAL MANAGEMENT LLC 2.26% of their portfolio MILWAUKEE, WI 1,461,9101.5m $107.3m $107.3m 2.26% Added +24.9k +24,853
14 LORD, ABBETT & CO. LLC 0.19% of their portfolio JERSEY CITY, NJ 1,363,3361.4m $100.0m $100.0m 0.19% Added +6.6k +6,648
15 FRANKLIN RESOURCES INC 0.05% of their portfolio San Mateo, CA 1,266,8071.3m $93.0m $93.0m 0.05% Added +11.9k +11,949
16 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 1,222,1681.2m $91.7m $91.7m 0.03% Reduced -21.9k -21,902
17 NORGES BANK 0.02% of their portfolio OSLO, Q8 1,066,5381.1m $78.3m $78.3m 0.02% Added +10.7k +10,738
18 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio BOSTON, MA 775,127775.1k $56.9m $56.9m 0.07% Reduced -417.0k -417,005
19 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 735,623735.6k $67.7m $67.7m 0.02% Reduced -14.3k -14,316
20 GW&K Investment Management, LLC 0.54% of their portfolio BOSTON, MA 725,716725.7k $53.3m $53.3m 0.54% Added +21.0k +20,992
21 RIVERBRIDGE PARTNERS LLC 0.72% of their portfolio MINNEAPOLIS, MN 723,852723.9k $53.1m $53.1m 0.72% Reduced -16.6k -16,604
22 JANUS HENDERSON GROUP PLC 0.03% of their portfolio LONDON, X0 711,876711.9k $52.5m $52.5m 0.03% Reduced -3.1k -3,107
23 TD Asset Management Inc 0.06% of their portfolio Toronto, A6 699,073699.1k $51.5m $51.5m 0.06% Added +22.0k +22,009
24 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 656,534656.5k $48.2m $48.2m 0.01% Reduced -8.3k -8,309
25 CREDIT SUISSE AG/ 0.05% of their portfolio ZURICH, V8 612,402612.4k $44.9m $44.9m 0.05% Reduced -7.1k -7,100
26 Baird Financial Group, Inc. 0.11% of their portfolio MILWAUKEE, WI 554,873554.9k $40.7m $40.7m 0.11% Added +244.0k +243,971
27 WASATCH ADVISORS LP 0.25% of their portfolio SALT LAKE CITY, UT 542,974543.0k $39.8m $39.8m 0.25% Reduced -37.4k -37,362
28 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 529,984530.0k $39.2m $39.2m 0.02% Reduced -32.7k -32,688
29 Artisan Partners Limited Partnership 0.06% of their portfolio Milwaukee, WI 506,135506.1k $37.1m $37.1m 0.06% Reduced -800 -800
30 Premier Fund Managers Ltd 1.55% of their portfolio GUILDFORD, X0 452,979453.0k $32.9m $32.9m 1.55% Reduced -3.4k -3,449
31 BANK OF NOVA SCOTIA 0.08% of their portfolio TORONTO, A6 436,255436.3k $32.0m $32.0m 0.08% Reduced -245 -245
32 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 432,730432.7k $31.8m $31.8m 0.00% Added +132.9k +132,898
33 NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio NEW YORK, NY 427,067427.1k $31.3m $31.3m 0.03% Reduced -89.4k -89,352
34 Legal & General Group Plc 0.01% of their portfolio London, X0 413,741413.7k $30.5m $30.5m 0.01% Added +12.3k +12,312
35 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 410,415410.4k $30.1m $30.1m 0.01% Reduced -91.2k -91,158
36 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 408,674408.7k $30.0m $30.0m 0.01% Reduced -5.3k -5,302
37 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 375,076375.1k $27.8m $27.8m 0.00% Added +8.7k +8,733
38 Granite Investment Partners, LLC 1.11% of their portfolio EL SEGUNDO, CA 360,194360.2k $26.4m $26.4m 1.11% Reduced -167 -167
39 Summit Creek Advisors LLC 3.38% of their portfolio MINNEAPOLIS, MN 338,455338.5k $24.8m $24.8m 3.38% Added +1.4k +1,360
40 JENNISON ASSOCIATES LLC 0.02% of their portfolio NEW YORK, NY 333,501333.5k $24.5m $24.5m 0.02% Reduced -8.9k -8,898
41 RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio NEW YORK, NY 327,700327.7k $24.1m $24.1m 0.04% Added +4.2k +4,200
42 BlackRock Inc. 0.00% of their portfolio New York, NY 321,574321.6k $23.6m $23.6m 0.00% Added +6.2k +6,206
43 BLAIR WILLIAM & CO/IL 0.09% of their portfolio CHICAGO, IL 317,888317.9k $23.3m $23.3m 0.09% Added +11.8k +11,752
44 Man Group plc 0.07% of their portfolio LONDON, X0 304,453304.5k $22.4m $22.4m 0.07% New
45 Aperture Investors, LLC 3.42% of their portfolio New York, NY 293,263293.3k $21.5m $21.5m 3.42% Reduced -66.0k -66,046
46 Swiss National Bank 0.02% of their portfolio ZURICH, V8 284,724284.7k $21.1m $21.1m 0.02% Reduced -34.4k -34,400
47 PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio DES MOINES, IA 284,220284.2k $21.0m $21.0m 0.02% Reduced -23.6k -23,550
48 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 277,341277.3k $20.4m $20.4m 0.05% Added +6.0k +5,995
49 SEGALL BRYANT & HAMILL, LLC 0.23% of their portfolio CHICAGO, IL 276,745276.7k $20.3m $20.3m 0.23% Added +254.2k +254,166
50 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 275,693275.7k $20.2m $20.2m 0.00% Reduced -140.2k -140,186
51 PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.10% of their portfolio DENVER, CO 260,878260.9k $19.1m $19.1m 0.10% Added +1.7k +1,690
52 HERALD INVESTMENT MANAGEMENT Ltd 4.06% of their portfolio LONDON, X0 260,000260.0k $19.1m $19.1m 4.06% Reduced -20.0k -20,000
53 Chevy Chase Trust Holdings, LLC 0.08% of their portfolio BETHESDA, MD 259,147259.1k $19.0m $19.0m 0.08% Reduced -15.0k -15,000
54 CANADA PENSION PLAN INVESTMENT BOARD 0.03% of their portfolio TORONTO ONTARIO, A6 258,000258.0k $19.0m $19.0m 0.03% Added +17.4k +17,370
55 Stephens Investment Management Group LLC 0.30% of their portfolio LITTLE ROCK, AR 252,925252.9k $18.6m $18.6m 0.30% Reduced -291 -291
56 1832 Asset Management L.P. 0.04% of their portfolio TORONTO, A6 247,286247.3k $18.1m $18.1m 0.04% Reduced -14.7k -14,701
57 PUTNAM INVESTMENTS LLC 0.03% of their portfolio BOSTON, MA 241,573241.6k $17.7m $17.7m 0.03% Added +8.7k +8,713
58 Addenda Capital Inc. 1.03% of their portfolio MONTREAL, A8 237,134237.1k $23.6m $23.6m 1.03% Reduced -2.8k -2,765
59 Russell Investments Group, Ltd. 0.03% of their portfolio Seattle, WA 221,099221.1k $16.3m $16.3m 0.03% Added +24.3k +24,271
60 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 219,352219.4k $16.1m $16.1m 0.01% Added +60.0k +60,020
61 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 205,679205.7k $15.1m $15.1m 0.02% Added +137.5k +137,468
62 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 196,058196.1k $14.4m $14.4m 0.00% Reduced -6.2k -6,244
63 Pembroke Management, LTD 2.65% of their portfolio Montreal, A8 194,668194.7k $19.4m $19.4m 2.65% Reduced -31.8k -31,776
64 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 190,367190.4k $14.0m $14.0m 0.01% Reduced -4.6k -4,618
65 TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio NEW YORK, NY 184,999185.0k $13.6m $13.6m 0.04% Reduced -37.6k -37,576
66 Public Sector Pension Investment Board 0.10% of their portfolio MONTREAL, A8 183,659183.7k $13.5m $13.5m 0.10% Reduced -3.6k -3,577
67 FIL Ltd 0.02% of their portfolio HAMILTON, D0 174,834174.8k $12.8m $12.8m 0.02% Added +9.8k +9,834
68 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 171,203171.2k $12.6m $12.6m 0.01% Added +64 +64
69 TWO SIGMA ADVISERS, LP 0.03% of their portfolio NEW YORK, NY 160,300160.3k $11.8m $11.8m 0.03% Reduced -20.2k -20,200
70 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 159,800159.8k $11.6m $11.6m 0.02% Reduced -162.4k -162,406
71 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 155,650155.7k $11.4m $11.4m 0.01% Reduced -101.8k -101,770
72 DF DENT & CO INC 0.16% of their portfolio BALTIMORE, MD 145,450145.4k $10.7m $10.7m 0.16% Reduced -1.2k -1,207
73 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 143,186143.2k $10.5m $10.5m 0.00% Reduced -69.4k -69,396
74 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 142,506142.5k $10.5m $10.5m 0.00% Added +316 +316
75 Quadrature Capital Ltd 0.21% of their portfolio LONDON, X0 137,300137.3k $10.2m $10.2m 0.21% Added +68.1k +68,100
76 Fenimore Asset Management Inc 0.26% of their portfolio Cobleskill, NY 134,647134.6k $9.9m $9.9m 0.26% Added +55 +55
77 Alberta Investment Management Corp 0.10% of their portfolio EDMONTON, A0 126,787126.8k $9.3m $9.3m 0.10% Unchanged
78 BESSEMER GROUP INC 0.02% of their portfolio WOODBRIDGE, NJ 123,291123.3k $9.0m $9.0m 0.02% Added +5.3k +5,325
79 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 122,418122.4k $9.0m $9.0m 0.00% Added +42.2k +42,172
80 NICHOLAS COMPANY, INC. 0.18% of their portfolio MILWAUKEE, WI 120,410120.4k $8.8m $8.8m 0.18% Unchanged
81 SCOUT INVESTMENTS, INC. 0.20% of their portfolio KANSAS CITY, MO 120,208120.2k $8.7m $8.7m 0.20% Reduced -3.5k -3,495
82 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.06% of their portfolio NEW YORK, NY 105,077105.1k $7.7m $7.7m 0.06% Added +2.1k +2,127
83 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 102,423102.4k $7.5m $7.5m 0.01% Reduced -1.6k -1,624
84 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 101,909101.9k $7.5m $7.5m 0.01% Reduced -31.9k -31,861
85 Homestead Advisers Corp 0.19% of their portfolio Arlington, VA 95,57095.6k $7.0m $7.0m 0.19% Unchanged
86 CIDEL ASSET MANAGEMENT INC 0.33% of their portfolio TORONTO, A6 90,48790.5k $6.7m $6.7m 0.33% Added +10.8k +10,836
87 CIBC Asset Management Inc 0.03% of their portfolio TORONTO, Z4 90,40490.4k $6.7m $6.7m 0.03% Added +2.9k +2,930
88 STRS OHIO 0.03% of their portfolio COLUMBUS, OH 90,00090.0k $6.6m $6.6m 0.03% Added +40.0k +40,000
89 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 88,70588.7k $6.5m $6.5m 0.00% Added +4.1k +4,129
90 Nicholas Investment Partners, LP 0.45% of their portfolio RANCHO SANTA FE, CA 82,71382.7k $6.1m $6.1m 0.45% Reduced -2.1k -2,144
91 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 79,33279.3k $5.8m $5.8m 0.00% Reduced -66.0k -65,985
92 Cumberland Partners Ltd 0.52% of their portfolio TORONTO, A6 72,70072.7k $5.4m $5.4m 0.52% Unchanged
93 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 71,71971.7k $5.3m $5.3m 0.01% Added +46.8k +46,819
94 GUARDIAN CAPITAL LP 0.20% of their portfolio TORONTO, A6 71,07771.1k $5.2m $5.2m 0.20% Reduced -26.5k -26,496
95 Maryland State Retirement & Pension System 0.12% of their portfolio BALTIMORE, MD 70,56170.6k $5.2m $5.2m 0.12% Added +1.4k +1,355
96 Thematics Asset Management 0.25% of their portfolio PARIS, I0 70,16970.2k $5.1m $5.1m 0.25% Reduced -1.6k -1,601
97 NBW CAPITAL LLC 1.24% of their portfolio BOSTON, MA 68,96369.0k $5.1m $5.1m 1.24% Added +621 +621
98 CIBC WORLD MARKET INC. 0.02% of their portfolio TORONTO, A6 66,53266.5k $4.9m $4.9m 0.02% Reduced -14.8k -14,798
99 Vontobel Holding Ltd. 0.04% of their portfolio ZURICH, V8 66,12966.1k $4.9m $4.9m 0.04% Added +52.9k +52,852
100 AGF MANAGEMENT LTD 0.03% of their portfolio TORONTO, A6 64,65164.7k $4.7m $4.7m 0.03% Reduced -121.4k -121,367