Varonis Systems

VRNS • NASDAQ

Varonis Systems is a software - infrastructure company in the technology sector on NASDAQ, led by Guy Melamed, with a market cap of $3.9B. As of Q3 2025, 101% of shares are held by 346 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.24%.

Chief Operating OfficerGuy Melamed

Market Cap$3.9B

Software - Infrastructure

Technology

Employees2.2K

Websitevaronis.com

Country

United States of America

Overview

Overview of institutional ownership in VRNS as of Q3 2025 with a market cap of $6.4B

All Institutions

Institutions: 346
Value Held: $6.5B
Shares Held: 113.0M
Avg Position: $18.8M
Median Position: $1.8M

Hedge Funds

Hedge Funds: 47
Value Held: $997.6M
Shares Held: 17.4M
Avg Position: $21.2M
Median Position: $3.9M

Ownership Breakdown

Institutional (non-HF)

85.37%

$5.5B

Hedge Funds

15.49%

$997.6M

Retail & Other

Based on market cap of $6.4B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in VRNS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$723.9M 0.01% of portfolio	11.24% 12.6M shares	Q1 2014 Held for 11y 8m	$6.69T
B BlackRock, Inc. Institution	-	$608.5M 0.01% of portfolio	9.45% 10.6M shares	Q1 2016 Held for 9y 8m	$5.67T
ING INVESTMENT MANAGEMENT LLC Insurance Manager	Matthew Nmn Toms CEO	$190.3M 0.22% of portfolio	2.96% 3.3M shares	Q2 2017 Held for 8y 5m	$88.4B
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$180.9M 0.13% of portfolio	2.81% 3.1M shares	Q1 2017 Held for 8y 8m	$134.11B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$170.5M 0.02% of portfolio	2.65% 3.0M shares	Q2 2016 Held for 9y 5m	$691.34B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$156.7M 0.01% of portfolio	2.43% 2.7M shares	Q1 2014 Held for 11y 8m	$2.88T
RGM Capital, LLC Hedge Fund•Value	Robert Glyn Moses Managing Partner	$155.1M 6.53% of portfolio	2.41% 2.7M shares	Q4 2022 Held for 2y 11m	$2.4B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$154.1M 0.01% of portfolio	2.39% 2.7M shares	Q1 2014 Held for 11y 8m	$1.57T
M MACQUARIE GROUP LTD Institution	-	$143.8M 0.17% of portfolio	2.23% 2.5M shares	Q3 2017 Held for 8y 2m	$82.9B
Clearbridge Investments, LLC Long Only Manager	Terrence James Murphy CEO	$130.5M 0.10% of portfolio	2.03% 2.3M shares	Q1 2014 Held for 11y 8m	$132.87B

Net Capital Flow

Institutional buying and selling activity for VRNS in Q3 2025

Traded: −$96.9M
Buyers: 186
Sellers: 146
Total Bought: +$813.2M
Total Sold: −$910.2M
Avg Position: $17.2M

Biggest Buyers

Institution	Net Bought	Current Position
CADIAN CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	+$104.4M +1.8M shares	$104.4M 1.8M shares
FULLER & THALER ASSET MANAGEMENT, INC. Long Only Manager	+$73.9M +1.3M shares	$73.9M 1.3M shares
Greenvale Capital LLP Hedge Fund•Long/Short	+$73.3M +1.3M shares	$99.1M 1.7M shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$59.3M +1.0M shares	$59.3M 1.0M shares
C Clal Insurance Enterprises Holdings Ltd Institution	+$48.8M +850.0K shares	$78.2M 1.4M shares
Allspring Global Investments Holdings, LLC Long Only Manager	+$39.0M +674.8K shares	$95.2M 1.6M shares
Atreides Management, LP Hedge Fund•Long/Short	+$37.8M +658.4K shares	$37.8M 658.4K shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	+$31.7M +551.7K shares	$31.7M 551.7K shares
N NOMURA ASSET MANAGEMENT CO LTD Long Only Manager	+$31.1M +541.4K shares	$31.1M 541.4K shares
VANGUARD GROUP INC Institution	+$25.1M +436.5K shares	$723.9M 12.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	−$121.5M −2.1M shares	$4.7M 82.4K shares
GOLDMAN SACHS GROUP INC Institution	−$48.0M −836.0K shares	$170.5M 3.0M shares
DLD Asset Management, LP Hedge Fund•Multi-Strategy	−$46.6M −810.1K shares	$5.1M 88.4K shares
B BlackRock, Inc. Institution	−$45.2M −787.2K shares	$608.5M 10.6M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$41.0M −713.0K shares	$72.9M 1.3M shares
S SOMA EQUITY PARTNERS LP Hedge Fund•Long/Short	−$38.6M −672.0K shares	$123.7M 2.2M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$33.3M −655.9K shares	Sold Off 0 shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$32.1M −559.1K shares	$16.2M 281.8K shares
JPMORGAN CHASE & CO Institution	−$31.7M −551.5K shares	$70.4M 1.2M shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$25.4M −442.0K shares	$105.3M 1.8M shares

Entry and Exit Activity

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

New Positions: 21
New Value: $63.4M
Exited Positions: 31
Exited Value: $122.0M

New Positions

Institution	Position Value
Atreides Management, LP Hedge Fund•Long/Short	$37.8M 658.4K shares
B BW Gestao de Investimentos Ltda. Institution	$18.4M 319.8K shares
S Sphera Management Technology Funds Ltd Institution	$1.7M 30.0K shares
E Elo Mutual Pension Insurance Co Institution	$1.5M 25.7K shares
C CI Private Wealth, LLC RIA/Wealth	$697.3K 12.1K shares
Harbour Capital Advisors, LLC Family Office	$583.6K 9.7K shares
A Alamea Verwaltungs GmbH Institution	$547.2K 9.5K shares
F First Dallas Securities Inc. RIA/Wealth	$471.3K 8.2K shares
Cetera Investment Advisers RIA/Wealth	$462.5K 8.0K shares
Weiss Asset Management LP Hedge Fund•Multi-Strategy	$414.4K 7.2K shares

Exited Positions

Institution	Previous Position
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$33.3M 655.9K shares
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	$22.7M 448.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$19.5M 384.1K shares
P PineBridge Investments Ltd Institution	$15.4M 303.1K shares
P PUBLIC SECTOR PENSION INVESTMENT BOARD Institution	$7.1M 139.0K shares
B BNP Paribas Investment Partners S.A. Institution	$4.8M 94.3K shares
R Roubaix Capital, LLC Hedge Fund•Long/Short	$2.3M 45.5K shares
S Sapience Investments, LLC Long Only Manager	$2.2M 42.7K shares
M Meridiem Capital Partners LP Hedge Fund•Long/Short	$2.1M 41.4K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$1.8M 36.1K shares

Options Activity

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

Call Positions: 12
Call Value: $129.6M
Put Positions: 7
Put Value: $1.5M

Call Positions

Institution	Position Value
UBS Group AG Institution	$97.4M 17.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.4M 1.3K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$7.2M 1.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$6.4M 1.1K contracts
BANK OF AMERICA CORP /DE/ Institution	$5.7M 999.0 contracts
J JANE STREET GROUP, LLC Institution	$2.7M 477.0 contracts
W WOLVERINE TRADING, LLC Institution	$1.4M 235.0 contracts
Walleye Trading LLC RIA/Wealth	$534.5K 93.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$482.7K 84.0 contracts
P PEAK6 LLC Institution	$304.6K 53.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.3M 220.0 contracts
Walleye Trading LLC RIA/Wealth	$195.4K 34.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$5.7K 1.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts
J JANE STREET GROUP, LLC Institution	- - contracts
Caption Management, LLC Hedge Fund•Long/Short	- - contracts
W WOLVERINE TRADING, LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Greenvale Capital LLP Hedge Fund•Long/Short	Bruce Edward Emery CIO	7.93% $99.1M	1.54% 1.7M shares	Q2 2025 Held for 5 months	$1.3B
K Kopion Asset Management, LLC RIA/Wealth	Terry Lee Ledbetter President	6.70% $10.3M	0.16% 179.8K shares	Q4 2019 Held for 5y 11m	$154.3M
RGM Capital, LLC Hedge Fund•Value	Robert Glyn Moses Managing Partner	6.53% $155.1M	2.41% 2.7M shares	Q4 2022 Held for 2y 11m	$2.4B
S SOMA EQUITY PARTNERS LP Hedge Fund•Long/Short	Gil Nmn Simon CIO	6.21% $123.7M	1.92% 2.2M shares	Q2 2022 Held for 3y 5m	$2.0B
CADIAN CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Conor O'Brien CFO	6.20% $104.4M	1.62% 1.8M shares	Q3 2025 Held for 2 months	$1.7B
H Herald Investment Management Ltd Institution	-	3.42% $25.5M	0.40% 443.5K shares	Q3 2016 Held for 9y 2m	$745.8M
AMERICAN CAPITAL MANAGEMENT INC Long Only Manager	David Mark La Valle CEO	3.14% $78.8M	1.22% 1.4M shares	Q4 2022 Held for 2y 11m	$2.5B
TREMBLANT CAPITAL GROUP Institution	Brett Edward Bruce Barakett CEO	2.71% $25.9M	0.40% 451.1K shares	Q1 2019 Held for 6y 8m	$958.1M
H Harvey Partners, LLC Institution	-	2.12% $23.3M	0.36% 405.8K shares	Q3 2022 Held for 3y 2m	$1.1B
EMERALD MUTUAL FUND ADVISERS TRUST Long Only Manager	Daniel Webster Moyer President	1.70% $31.9M	0.50% 555.9K shares	Q3 2016 Held for 9y 2m	$1.9B

Hedge Fund Spotlight

Discover hedge funds investing in VRNS

EAGLE GLOBAL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerSteven Samuel Russo

Portfolio Value: $2.6B
Positions: 275
Last Reported: Q3 2025

Sector Allocation

Position in Varonis Systems

Market Value: $3.9M
Shares Held: 67.2K
Portfolio Weight: 0.15%
Owned Since: 2019-Q2

Top Holding	Sector	Market Value	Weight
1 Apple AAPL	Consumer Electronics Technology	$273.0M	10.46%
2 Energy Transfer ET	Oil & Gas Midstream Energy	$111.0M	4.25%
3 MPLX MPLX	Oil & Gas Midstream Energy	$96.8M	3.71%