At Holdings Channel , we have reviewed the latest batch of the 21 most recent 13F filings for the 06/30/2015 reporting period, and noticed that Google Inc (Symbol: GOOGL) was held by 13 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 GOOGL positions, for this latest batch of 13F filers:
Change In Share Count
Change In Market Value($ in 1000's)
Newman Dignan & Sheerar Inc.
Eagle Capital Management LLC
Middleton & Co Inc MA
Chautauqua Capital Management
Trust Department MB Financial Bank N A
Graybill Bartz & Assoc Ltd.
Menlo Advisors LLC
Mid Continent Capital LLC IL
Foundry Partners LLC
Regent Investment Management LLC
Legacy Private Trust Co.
Professional Advisory Services Inc.
In terms of shares owned, we count 6 of the above funds having increased existing GOOGL positions from 03/31/2015 to 06/30/2015, with 3 having decreased their positions and 3 new positions. Worth noting is that Charter Bridge Capital Management L.P. , and Solaris Asset Management LLC , included in this recent batch of 13F filers, exited GOOGL common stock as of 06/30/2015.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the GOOGL share count in the aggregate among all of the funds which held GOOGL at the 06/30/2015 reporting period (out of the 255 we looked at in total). We then compared that number to the sum total of GOOGL shares those same funds held back at the 03/31/2015 period, to see how the aggregate share count held by hedge funds has moved for GOOGL. We found that between these two periods, funds increased their holdings by 394,307 shares in the aggregate, from 3,632,881 up to 4,027,188 for a share count increase of approximately 10.85%. The overall top three funds holding GOOGL on 06/30/2015 were:
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 Google Inc (Symbol: GOOGL).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.