DESCARTES SYS GROUP INC DSGX
COM · Common Stock · CUSIP 249906108 · ISIN CA2499061083
- SectorTechnology
- IndustryServices-Prepackaged Software
- FilingsSEC EDGAR
* 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 ($10.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $70.14. Options: 10 managers hold calls ($4.8m notional), 7 hold puts ($5.5m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 225 |
| Q4 2022 | 228 |
| Q1 2023 | 258 |
| Q2 2023 | 260 |
| Q3 2023 | 257 |
| Q4 2023 | 289 |
| Q1 2024 | 303 |
| Q2 2024 | 324 |
| Q3 2024 | 343 |
| Q4 2024 | 372 |
| Q1 2025 | 358 |
| Q2 2025 | 358 |
| Q3 2025 | 373 |
| Q4 2025 | 352 |
| Q1 2026 | 349 |
| Q2 2026 | 339 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 163 | 141 |
| Q4 2024 | 171 | 161 |
| Q1 2025 | 165 | 192 |
| Q2 2025 | 156 | 188 |
| Q3 2025 | 188 | 176 |
| Q4 2025 | 175 | 185 |
| Q1 2026 | 189 | 176 |
| Q2 2026 | 155 | 191 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $13.3m | $2.6m | 0.20 |
| Q4 2025 | $16.2m | $3.7m | 0.23 |
| Q1 2026 | $15.7m | $4.5m | 0.29 |
| Q2 2026 | $4.8m | $5.5m | 1.14 |
Biggest buyers
| WELLINGTON MANAGEMENT GROUP LLP | Added | +1.2m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +944.9k |
| Ninety One UK Ltd | New | +640.0k |
| FIL Ltd | Added | +613.9k |
| Temasek Holdings (Private) Ltd | Added | +547.0k |
| ROYAL BANK OF CANADA | Added | +422.4k |
| NZS Capital, LLC | New | +398.9k |
| BANK OF MONTREAL /CAN/ | Added | +285.9k |
| Fiera Capital Corp | Added | +285.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +270.6k |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -595.5k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -476.8k |
| MACKENZIE FINANCIAL CORP | Reduced | -475.8k |
| PRIMECAP MANAGEMENT CO/CA/ | Reduced | -449.7k |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -366.5k |
| T. Rowe Price Investment Management, Inc. | Reduced | -334.2k |
| D. E. Shaw & Co., Inc. | Reduced | -330.1k |
| GENEVA CAPITAL MANAGEMENT LLC | Reduced | -260.1k |
| GOLDMAN SACHS GROUP INC | Reduced | -259.4k |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -247.7k |
Biggest calls
| SIG North Trading, ULC | Added | $1.7m24.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.2m17.5k shares |
| ROYAL BANK OF CANADA | Reduced | $762.0k11.0k shares |
| JANE STREET GROUP, LLC | Reduced | $491.6k7.1k shares |
| CITADEL ADVISORS LLC | Reduced | $256.2k3.7k shares |
| IMC-Chicago, LLC | Reduced | $228.5k3.3k shares |
| Walleye Capital LLC | New | $55.4k800 shares |
| SIMPLEX TRADING, LLC | New | $34.6k500 shares |
| TORONTO DOMINION BANK | Added | $34.6k500 shares |
| NATIONAL BANK OF CANADA /FI/ | New | $20.8k3 shares |
Biggest puts
| SIG North Trading, ULC | Added | $2.7m38.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $692.4k10.0k shares |
| IMC-Chicago, LLC | Added | $678.6k9.8k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $643.9k9.3k shares |
| CITADEL ADVISORS LLC | Added | $574.7k8.3k shares |
| SIMPLEX TRADING, LLC | Added | $159.3k2.3k shares |
| Walleye Capital LLC | New | $69.2k1.0k 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.
| Holder | Stake |
|---|---|
| PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution -1.5 pts · filed 2026-08-14 | 6.6% |
Fell to 5% or below in the last year: BlackRock, Inc. (3.8%, 2026-10-27)
Insider purchases and sales since 1 Apr 2026
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 since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 5.7m $392.5m | Reduced -595.5k |
| 1832 Asset Management L.P. 0.32% of their portfolio | 3.8m $264.9m | Reduced -7.6k |
| Jupiter Topco LLC 0.07% of their portfolio | 2.6m $181.7m | First filing |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 2.4m $166.2m | Added +27.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.11% of their portfolio | 2.0m $141.4m | Added +944.9k |
| Temasek Holdings (Private) Ltd 0.38% of their portfolio | 2.0m $139.1m | Added +547.0k |
| MACKENZIE FINANCIAL CORP 0.19% of their portfolio | 2.0m $193.6m | Reduced -475.8k |
| Conestoga Capital Advisors, LLC 2.81% of their portfolio | 1.9m $129.1m | Reduced -246.5k |
| T. Rowe Price Investment Management, Inc. 0.08% of their portfolio | 1.8m $128.0m | Reduced -334.2k |
| BANK OF MONTREAL /CAN/ 0.05% of their portfolio | 1.8m $125.4m | Added +285.9k |
| MORGAN STANLEY 0.01% of their portfolio | 1.7m $116.9m | Added +199.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.05% of their portfolio | 1.5m $105.8m | Added +270.6k |
| Waratah Capital Advisors Ltd. 7.70% of their portfolio | 1.4m $100.2m | Added +258.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 1.4m $94.4m | Added +1.2m |
| Select Equity Group, L.P. 0.47% of their portfolio | 1.3m $89.4m | Added +210.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.2m $81.2m | Added +81.0k |
| NORGES BANK 0.01% of their portfolio | 1.2m $79.8m | Not comparable |
| FMR LLC 0.00% of their portfolio | 1.1m $79.0m | Added +100.6k |
| Fiera Capital Corp 0.28% of their portfolio | 1.1m $77.6m | Added +285.4k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 1.1m $74.8m | Added +422.4k |
| GENEVA CAPITAL MANAGEMENT LLC 1.70% of their portfolio | 1.1m $73.9m | Reduced -260.1k |
| FIL Ltd 0.05% of their portfolio | 1.0m $70.5m | Added +613.9k |
| TD Asset Management Inc 0.06% of their portfolio | 1.0m $69.7m | Reduced -7.2k |
| CIBC Asset Management Inc 0.14% of their portfolio | 891.1k $62.4m | Reduced -169.0k |
| Connor, Clark & Lunn Investment Management Ltd. 0.11% of their portfolio | 849.2k $58.8m | Reduced -366.5k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.19% of their portfolio | 835.4k $57.8m | Added +33.5k |
| PICTON MAHONEY ASSET MANAGEMENT 0.52% of their portfolio | 822.8k $56.8m | Added +269.2k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 761.3k $52.7m | Added +12.1k |
| PRIMECAP MANAGEMENT CO/CA/ 0.03% of their portfolio | 728.8k $50.5m | Reduced -449.7k |
| BlackRock, Inc. 0.00% of their portfolio | 703.1k $48.7m | Added +52.3k |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 658.6k $45.6m | Reduced -330.1k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 655.9k $45.4m | Reduced -476.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio | 640.8k $44.4m | Reduced -158.0k |
| Ninety One UK Ltd 0.10% of their portfolio | 640.0k $44.3m | New |
| Clearbridge Investments, LLC 0.03% of their portfolio | 580.4k $40.2m | Added +106.1k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 542.9k $37.6m | Added +74.4k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 519.9k $36.0m | Reduced -83.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 509.6k $35.3m | Reduced -259.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 509.4k $35.3m | Reduced -224.1k |
| SEGALL BRYANT & HAMILL, LLC 0.40% of their portfolio | 488.0k $33.8m | Reduced -2.9k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 468.0k $32.3m | Reduced -43.8k |
| LORD, ABBETT & CO. LLC 0.09% of their portfolio | 440.9k $30.5m | Added +186.6k |
| GW&K Investment Management, LLC 0.23% of their portfolio | 427.5k $29.6m | Added +176.9k |
| BANK OF NOVA SCOTIA 0.04% of their portfolio | 416.2k $28.8m | Added +2.3k |
| NZS Capital, LLC 0.72% of their portfolio | 398.9k $27.6m | New |
| Vanguard Global Advisers, LLC 0.01% of their portfolio | 366.0k $25.4m | Added +23.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 363.3k $25.2m | Reduced -102.1k |
| Dixon Mitchell Investment Counsel Inc. 0.79% of their portfolio | 351.9k $24.4m | Added +11.5k |
| Legal & General Group Plc 0.01% of their portfolio | 349.5k $24.2m | Reduced -42.1k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 341.7k $23.7m | Added +63.6k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 304.1k $21.0m | Added +12.2k |
| SEB Asset Management AB 0.08% of their portfolio | 300.0k $20.8m | Reduced -19.4k |
| Granahan Investment Management, LLC 0.73% of their portfolio | 297.3k $20.6m | Added +242.0k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 297.0k $20.6m | Added +15.3k |
| Sone Capital Management, LLC 1.54% of their portfolio | 292.0k $20.2m | Reduced -99.9k |
| RIVERBRIDGE PARTNERS LLC 0.56% of their portfolio | 291.1k $20.2m | Reduced -160.3k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 282.2k $19.5m | Reduced -51.1k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio | 280.0k $19.4m | Added +260.0k |
| Zeno Equity Partners LLP 7.20% of their portfolio | 279.6k $19.4m | Reduced -6.9k |
| Swiss National Bank 0.01% of their portfolio | 278.0k $19.2m | Reduced -11.4k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.27% of their portfolio | 251.9k $17.4m | Added +5.6k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 242.1k $16.8m | Added +88.4k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 241.5k $16.7m | Reduced -64.4k |
| Chevy Chase Trust Holdings, LLC 0.04% of their portfolio | 228.6k $15.8m | Unchanged |
| Stephens Investment Management Group LLC 0.17% of their portfolio | 223.4k $15.5m | Added +4.8k |
| Scheer, Rowlett & Associates Investment Management Ltd. 1.09% of their portfolio | 218.5k $15.1m | Added +59.8k |
| UBS Group AG 0.00% of their portfolio | 209.3k $14.5m | Reduced -138.5k |
| Pembroke Management, LTD 1.02% of their portfolio | 208.0k $14.4m | Added +104.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 205.2k $14.2m | Added +7.2k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 198.2k $13.7m | Added +36.1k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.04% of their portfolio | 197.9k $13.7m | Added +18.5k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 193.0k $13.4m | Reduced -84.3k |
| TORONTO DOMINION BANK 0.02% of their portfolio | 191.6k $13.3m | Reduced -176.7k |
| DF DENT & CO INC 0.25% of their portfolio | 188.7k $13.1m | Added +5.2k |
| Premier Fund Managers Ltd 1.10% of their portfolio | 175.2k $12.2m | Reduced -142.3k |
| Praesidium Investment Management Company, LLC 5.48% of their portfolio | 169.6k $11.7m | Reduced -137.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 168.9k $16.4m | Added +2.5k |
| Baird Financial Group, Inc. 0.02% of their portfolio | 168.3k $11.7m | Reduced -31.5k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio | 168.2k $11.6m | Reduced -15.5k |
| Fenimore Asset Management Inc 0.23% of their portfolio | 162.0k $11.2m | Added +5.4k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.02% of their portfolio | 158.0k $10.9m | Reduced -1.8k |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 156.3k $10.7m | Reduced -13.2k |
| Public Sector Pension Investment Board 0.03% of their portfolio | 145.6k $10.1m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 143.6k $9.9m | Added +11.8k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.03% of their portfolio | 142.5k $9.9m | Unchanged |
| Amundi 0.00% of their portfolio | 138.8k $9.6m | Added +8.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 135.8k $9.5m | Reduced -5.2k |
| GUARDIAN CAPITAL LP 0.21% of their portfolio | 127.4k $8.8m | Reduced -63.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 123.6k $8.6m | Reduced -247.7k |
| Ninety One North America, Inc. 0.40% of their portfolio | 122.8k $8.5m | New |
| SEI INVESTMENTS CO 0.01% of their portfolio | 122.8k $8.5m | Reduced -29.1k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 120.2k $8.3m | Added +26.3k |
| CIDEL ASSET MANAGEMENT INC 0.39% of their portfolio | 117.8k $8.2m | Reduced -3.5k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.26% of their portfolio | 115.1k $8.0m | Reduced -6.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 109.3k $7.6m | Reduced -1.9k |
| HERALD INVESTMENT MANAGEMENT Ltd 1.01% of their portfolio | 108.0k $7.5m | Reduced -37.0k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.05% of their portfolio | 106.0k $7.3m | Added +32.5k |
| TD Waterhouse Canada Inc. 0.02% of their portfolio | 102.5k $7.3m | Added +9.3k |
| NICHOLAS COMPANY, INC. 0.13% of their portfolio | 101.0k $7.0m | Added +50 |
| Man Group plc 0.01% of their portfolio | 94.9k $6.6m | Added +27.4k |