Aggressive Accumulation: Fund Manager Backs Up the Truck for Software Stock

On November 7, 2025, Readystate Asset Management LP disclosed a new $31.95 million position in Workiva (NYSE:WK), acquiring 371,224 shares during the quarter.

What Happened

According to a filing with the Securities and Exchange Commission dated November 7, 2025, Readystate Asset Management LP initiated a new position in Workiva, buying 371,224 shares valued at $31.95 million as of September 30, 2025. The position now accounts for 2.43% of the fund's reported U.S. equity assets, as the fund reported 301 total holdings and $2.35 billion in 13F assets.

What Else to Know

• This is a new position in Workiva, representing 2.43% of the fund’s 13F AUM after the trade.
• As of November 6, 2025, shares were priced at $86.93, down 0.8% over the past year; shares have trailed the S&P 500 by 10.80 percentage points.
• Workiva reported trailing twelve-month revenue of $845.52 million and a net loss of $46.80 million as of September 30, 2025.

Company Overview

Company Snapshot

Workiva Inc. provides a scalable SaaS solution enabling organizations to streamline complex compliance and reporting processes. The company leverages its cloud platform to deliver integrated, collaborative tools that address critical regulatory and data management needs. Its focus on secure data connectivity and process automation positions it as a leading provider for enterprise and institutional clients seeking efficiency and transparency in reporting workflows.

• Offers a cloud-based platform for compliance, regulatory reporting, data integration, and audit trail services, with solutions connecting to ERP, GRC, HCM, and CRM systems.
• Serves public and private companies, government agencies, and higher-education institutions globally.
• Headquartered in Ames, Iowa, and founded in 2008, with a workforce of nearly 2,900 employees.

Foolish Take

Readystate Asset Management, an multi-strategy investment management firm based in Chicago, has taken a new stake in Workiva stock worth nearly $32 million. This is a significant purchase that retail investors should note -- here's why.

First off, Readystate Asset Management is a large institutional player, with more than $2.3 billion in assets under management. In total, Readystate has more than 300 positions, comprising stocks, bonds, and exchange-traded funds (ETFs).

By acquiring nearly $32 million worth of Workiva stock, Readystate is placing a big bet on this relatively small software stock. Workiva is now Readystate's 10th-largest overall position, representing 1.36% of total assets under management.

Clearly, Readystate is quite bullish on Workiva, which has underperformed the S&P 500 for years. Nevertheless, Readystate clearly sees opportunity ahead for the company, as it works to improve its margins, grow its revenue, and expand its market share.

In summary, Readystate's recent acquisition of Workiva stock represents an institutional vote of confidence in Workiva -- a software stock that has underperformed the market for years. Average investors may want to keep an eye on this stock going forward.

Glossary

13F AUM: The total value of U.S. equity securities a fund reports on SEC Form 13F, typically reflecting institutional holdings.

Fund downsizing: A period when an investment fund reduces its total assets or number of holdings, often due to redemptions or strategy changes.

Position: The amount of a particular security or asset held by an investor or fund.

Portfolio: A collection of financial assets such as stocks, bonds, or funds held by an investor or institution.

Stake: The ownership interest or share an investor holds in a company or asset.

TTM: The 12-month period ending with the most recent quarterly report.

Trailing twelve-month: Refers to a company's financial performance over the most recent 12 consecutive months.

Net loss: When a company's total expenses exceed its total revenues over a specific period.

Cloud-based platform: Software and services delivered over the internet rather than installed locally on computers.

Compliance: Adhering to laws, regulations, or standards relevant to business operations.

ERP: Enterprise Resource Planning; software that manages core business processes such as finance, HR, and supply chain.

SaaS: Software as a Service; a software delivery model where applications are accessed online via subscription rather than installed locally.

Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Workiva. The Motley Fool has a disclosure policy.