See Which Of The Latest 13F Filers Holds Time Warner

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At Holdings Channel , we have reviewed the latest batch of the 42 most recent 13F filings for the 09/30/2017 reporting period, and noticed that Time Warner Inc (Symbol: TWX) was held by 12 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.

Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen .

Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in TWX positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Glenmede Trust Co. NA Existing -284,467 -$27,369
Steel Canyon Capital LLC Existing -2,000 -$184
Scoggin Management LP Existing +375,000 +$41,377
Close Asset Management Ltd Existing UNCH +$1
Cibc World Markets Corp Existing +111,352 +$11,631
Marsico Capital Management LLC Existing UNCH +$134
Choate Investment Advisors Existing -725 -$60
Croft Leominster Inc. Existing UNCH +$5
Focused Wealth Management Inc Existing +131 +$15
Close Asset Management Ltd Existing UNCH +$1
TCI Fund Management Ltd. Existing UNCH +$417
1832 Asset Management L.P. Existing +4,550 +$452
Aggregate Change: +203,841 +$26,420

In terms of shares owned, we count 4 of the above funds having increased existing TWX positions from 06/30/2017 to 09/30/2017, with 3 having decreased their positions. Worth noting is that TCI Fund Management Ltd. , included in this recent batch of 13F filers, exited TWX common stock as of 09/30/2017.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the TWX share count in the aggregate among all of the funds which held TWX at the 09/30/2017 reporting period (out of the 2,808 we looked at in total). We then compared that number to the sum total of TWX shares those same funds held back at the 06/30/2017 period, to see how the aggregate share count held by hedge funds has moved for TWX. We found that between these two periods, funds reduced their holdings by 13,055,004 shares in the aggregate, from 252,207,397 down to 239,152,393 for a share count decline of approximately -5.18%. The overall top three funds holding TWX on 09/30/2017 were:

Fund Shares of TWX Held
1. Dodge & Cox 23,692,769
2. Franklin Resources Inc. 12,186,256
3. FMR LLC 9,155,204
4-10 Find out the full Top 10 Hedge Funds Holding TWX

We'll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Time Warner Inc (Symbol: TWX).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Options
Referenced Symbols: TWX

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