OneSpan

OSPN • NASDAQ

OneSpan is a software - infrastructure company in the technology sector on NASDAQ, led by Victor Limongelli, with a market cap of $492.8M. As of Q3 2025, 95% of shares are held by 194 institutional investors, with BlackRock, Inc. as the largest holder at 9.57%.

Interim Chief Executive OfficerVictor Limongelli

Market Cap$492.8M

Software - Infrastructure

Technology

Employees544.0

Websiteonespan.com

Country

United States of America

Overview

Overview of institutional ownership in OSPN as of Q3 2025 with a market cap of $609.0M

All Institutions

Institutions: 194
Value Held: $579.8M
Shares Held: 36.5M
Avg Position: $3.0M
Median Position: $457.3K

Hedge Funds

Hedge Funds: 18
Value Held: $58.7M
Shares Held: 3.7M
Avg Position: $3.3M
Median Position: $1.2M

Ownership Breakdown

Institutional (non-HF)

85.58%

$521.2M

Hedge Funds

9.64%

$58.7M

Retail & Other

4.78%

$29.1M

Based on market cap of $609.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in OSPN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$58.3M 0.00% of portfolio	9.57% 3.7M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$52.4M 0.00% of portfolio	8.60% 3.3M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
L LEGAL & GENERAL GROUP PLC Institution	-	$36.4M 0.01% of portfolio	5.98% 2.3M shares	Q3 2014 Held for 11y 2m	$445.97B
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$34.0M 0.03% of portfolio	5.59% 2.1M shares	Q3 2024 Held for 1y 2m	$134.11B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$33.4M 0.01% of portfolio	5.48% 2.1M shares	≤ Q2 2013 Held for 12y 5m+	$433.11B
N Neuberger Berman Group LLC Institution	-	$25.1M 0.02% of portfolio	4.13% 1.6M shares	Q1 2017 Held for 8y 8m	$136.94B
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	-	$22.2M 0.04% of portfolio	3.64% 1.4M shares	Q2 2024 Held for 1y 5m	$61.8B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$20.9M 0.00% of portfolio	3.42% 1.3M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
Simcoe Capital Management, LLC Hedge Fund•Long/Short	Jeffrey Nmn Jacobowitz Managing Partner	$19.0M 2.75% of portfolio	3.12% 1.2M shares	Q2 2025 Held for 5 months	$689.9M
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$16.7M 0.00% of portfolio	2.74% 1.1M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B

Net Capital Flow

Institutional buying and selling activity for OSPN in Q3 2025

Traded: +$12.0M
Buyers: 88
Sellers: 100
Total Bought: +$65.9M
Total Sold: −$53.9M
Avg Position: $2.7M

Biggest Buyers

Institution	Net Bought	Current Position
Simcoe Capital Management, LLC Hedge Fund•Long/Short	+$11.9M +747.6K shares	$19.0M 1.2M shares
FIRST TRUST ADVISORS LP ETF Provider	+$6.8M +429.0K shares	$34.0M 2.1M shares
Topline Capital Management, LLC Hedge Fund•Long/Short	+$5.5M +349.2K shares	$5.5M 349.2K shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	+$5.0M +317.3K shares	$5.2M 329.2K shares
Lynrock Lake LP Hedge Fund•Multi-Strategy	+$3.3M +207.3K shares	$6.0M 376.7K shares
D DEPRINCE RACE & ZOLLO INC Long Only Manager	+$3.0M +190.6K shares	$3.0M 190.6K shares
C CLARK ESTATES INC/NY Institution	+$2.5M +156.0K shares	$2.5M 156.0K shares
R Russell Investments Group, Ltd. RIA/Wealth	+$2.4M +153.4K shares	$3.5M 217.8K shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	+$1.8M +111.5K shares	$5.8M 366.1K shares
G GREAT WEST LIFE ASSURANCE CO /CAN/ Institution	+$1.6M +99.5K shares	$5.7M 357.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$5.4M −339.7K shares	$6.8M 426.1K shares
Q Qube Research & Technologies Ltd Institution	−$3.0M −189.5K shares	$5.4M 339.3K shares
VANGUARD GROUP INC Institution	−$2.8M −178.0K shares	$52.4M 3.3M shares
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	−$2.7M −159.6K shares	Sold Off 0 shares
WELLS FARGO & COMPANY/MN Institution	−$2.5M −157.0K shares	$540.9K 34.0K shares
BANK OF AMERICA CORP /DE/ Institution	−$2.3M −146.6K shares	$1.9M 121.3K shares
Y Y-Intercept Ltd Institution	−$2.3M −137.5K shares	Sold Off 0 shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$2.2M −131.3K shares	Sold Off 0 shares
A Allianz Asset Management AG Institution	−$2.0M −126.1K shares	$1.7M 105.5K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	−$1.8M −113.3K shares	$550.2K 34.6K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited OSPN in Q3 2025

New Positions: 9
New Value: $13.0M
Exited Positions: 23
Exited Value: $15.7M

New Positions

Institution	Position Value
Topline Capital Management, LLC Hedge Fund•Long/Short	$5.5M 349.2K shares
D DEPRINCE RACE & ZOLLO INC Long Only Manager	$3.0M 190.6K shares
C CLARK ESTATES INC/NY Institution	$2.5M 156.0K shares
Access Investment Management LLC RIA/Wealth	$1.0M 65.7K shares
Virtus ETF Advisers LLC Long Only Manager	$541.8K 34.1K shares
CONNORS INVESTOR SERVICES INC RIA/Wealth	$182.5K 11.5K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$177.0K 11.1K shares
Private Wealth Asset Management, LLC RIA/Wealth	$11.1K 700.0 shares
Hartland & Co., LLC RIA/Wealth	$1.9K 121.0 shares

Exited Positions

Institution	Previous Position
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	$2.7M 159.6K shares
Y Y-Intercept Ltd Institution	$2.3M 137.5K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$2.2M 131.3K shares
A AXA Institution	$1.5M 88.1K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	$1.3M 79.3K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$1.3M 78.2K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$1.0M 61.3K shares
C CAXTON ASSOCIATES LLP Institution	$587.9K 35.2K shares
Counterpoint Mutual Funds LLC ETF Provider	$419.4K 25.1K shares
S STRS OHIO Institution	$398.9K 23.9K shares

Options Activity

Institutions with the largest Call and Put options positions in OSPN as of Q3 2025

Call Positions: 3
Call Value: $697.6K
Put Positions: 2
Put Value: $214.5K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$354.3K 223.0 contracts
J JANE STREET GROUP, LLC Institution	$343.2K 216.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$214.5K 135.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with OSPN as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Simcoe Capital Management, LLC Hedge Fund•Long/Short	Jeffrey Nmn Jacobowitz Managing Partner	2.75% $19.0M	3.12% 1.2M shares	Q2 2025 Held for 5 months	$689.9M
SCALAR GAUGE MANAGEMENT, LLC Hedge Fund•Long/Short	Sumit Gautam CEO	1.74% $3.4M	0.56% 215.0K shares	Q1 2025 Held for 8 months	$196.1M
E EJF Capital LLC Institution	-	1.18% $2.1M	0.34% 130.0K shares	Q4 2023 Held for 1y 11m	$174.8M
Topline Capital Management, LLC Hedge Fund•Long/Short	Collin Mcbirney Managing Partner	1.06% $5.5M	0.91% 349.2K shares	Q3 2025 Held for 2 months	$523.6M
Lynrock Lake LP Hedge Fund•Multi-Strategy	Cynthia Lynn Paul CIO	0.79% $6.0M	0.98% 376.7K shares	Q2 2023 Held for 2y 5m	$755.7M
Range Financial Group LLC RIA/Wealth	Eric Robert Dahm Managing Partner	0.61% $1.7M	0.28% 106.4K shares	Q1 2025 Held for 8 months	$276.8M
C CLARK ESTATES INC/NY Institution	-	0.59% $2.5M	0.41% 156.0K shares	Q3 2025 Held for 2 months	$421.5M
Penn Mutual Asset Management, LLC Insurance Manager	David Michael O'Malley Chairman	0.59% $238.4K	0.04% 15.0K shares	Q2 2025 Held for 5 months	$40.7M
ESSEX INVESTMENT MANAGEMENT CO LLC Long Only Manager	Nancy Beth Prial CEO	0.55% $3.6M	0.59% 227.6K shares	Q1 2024 Held for 1y 8m	$652.5M
Jackson Creek Investment Advisors LLC Long Only Manager	Mark Frederick Jaeger Managing Partner	0.52% $1.8M	0.29% 112.1K shares	Q3 2024 Held for 1y 2m	$345.2M

Hedge Fund Spotlight

Discover hedge funds investing in OSPN

Lynrock Lake LP

Hedge Fund • Multi-Strategy

Portfolio ManagerCynthia Lynn Paul

Portfolio Value: $755.7M
Positions: 19
Last Reported: Q3 2025

Sector Allocation

Position in OneSpan

Market Value: $6.0M
Shares Held: 376.7K
Portfolio Weight: 0.79%
Owned Since: 2023-Q2

Top Holding	Sector	Market Value	Weight
1 Teradata TDC	Software - Infrastructure Technology	$202.6M	26.80%
2 Vimeo, Inc. VMEO	Software - Application Technology	$120.0M	15.88%
3 Allot Ltd. ALLT	Software - Infrastructure Technology	$105.9M	14.02%