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See Which Of The Latest 13F Filers Holds Citizens Financial Group


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At Holdings Channel , we have reviewed the latest batch of the 20 most recent 13F filings for the 09/30/2018 reporting period, and noticed that Citizens Financial Group Inc (Symbol: CFG) was held by 8 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 CFG positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Artemis Investment Management LLP Existing +316,187 +$12,022
Fjarde AP Fonden Fourth Swedish National Pension Fund Existing -6,100 -$283
SPX Equities Gestao de Recursos Ltda NEW +372,671 +$14,374
SPX Equities Gestao de Recursos Ltda NEW +372,671 +$14,374
SPX Equities Gestao de Recursos Ltda NEW +372,671 +$14,374
Todd Asset Management LLC Existing +84,820 +$2,864
PNC Financial Services Group Inc. Existing -48,175 -$2,797
Girard Partners LTD. NEW +179 +$6
Aggregate Change: +1,464,924 +$54,934

In terms of shares owned, we count 2 of the above funds having increased existing CFG positions from 06/30/2018 to 09/30/2018, with 2 having decreased their positions and 4 new positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the CFG share count in the aggregate among all of the funds which held CFG at the 09/30/2018 reporting period (out of the 2,076 we looked at in total). We then compared that number to the sum total of CFG shares those same funds held back at the 06/30/2018 period, to see how the aggregate share count held by hedge funds has moved for CFG. We found that between these two periods, funds increased their holdings by 1,102,491 shares in the aggregate, from 68,311,378 up to 69,413,869 for a share count increase of approximately 1.61%. The overall top three funds holding CFG on 09/30/2018 were:

Fund Shares of CFG Held
1. JPMorgan Chase & Co. 16,986,749
2. LSV Asset Management 8,411,960
3. Bank of Montreal Can 5,312,122
4-10 Find out the full Top 10 Hedge Funds Holding CFG

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 Citizens Financial Group Inc (Symbol: CFG).

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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: CFG



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