Procter & Gamble Popular Amongst Latest 13F Filers

At Holdings Channel , we have reviewed the latest batch of the 46 most recent 13F filings for the 06/30/2014 reporting period, and noticed that Procter & Gamble Co. (Symbol: PG) was held by 26 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 PG positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Systematic Financial Management LP Existing UNCH -$6
Veritas Investment Management LLP Existing UNCH -$2
Dow Chemical Co DE NEW +61,000 +$4,794
Vanguard Group Inc. Existing +2,970,501 -$39,361
Veritas Investment Management UK Ltd Existing UNCH $UNCH
National Penn Investors Trust Co. PA Existing +2,018 +$97
Marietta Investment Partners LLC Existing -172 -$63
Homrich & Berg Existing -374 -$93
Systematic Financial Management LP Existing UNCH -$6
Mcdaniel Terry & Co. Existing +3,228 -$130
Quest Investment Management Inc. OR Existing +955 +$67
DUPONT CAPITAL MANAGEMENT Corp Existing +9,173 -$998
Supplemental Annuity Collective Trust of NJ Existing UNCH -$63
APG Asset Management N.V. Existing +1,698,573 +$127,349
TIAA CREF Trust Co. FSB MO Existing -3,684 -$930
New Jersey Better Educational Savings Trust Existing +14,000 +$1,056
NSB Advisors LLC Existing UNCH -$22
NJ State Employees Deferred Compensation Plan Existing UNCH -$141
Ohio Valley Financial Group Existing -125 -$46
Saiers Capital LLC Existing -509,000 -$40,983
Planning Alternatives Ltd. ADV Existing -45 -$18
Cypress Asset Management Inc. TX Existing -1,324 -$341
First Republic Investment Management Inc. Existing -3,781 -$2,901
Legacy Capital Partners Inc. Existing +979 -$20
RMB Capital Management LLC Existing -293 -$36
Ramsey Asset Management Existing UNCH -$21
Aggregate Change: +4,241,629 +$47,182

In terms of shares owned, we count 8 of the above funds having increased existing PG positions from 03/31/2014 to 06/30/2014, with 9 having decreased their positions and 1 new position.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the PG share count in the aggregate among all of the funds which held PG at the 06/30/2014 reporting period (out of the 1,660 we looked at in total). We then compared that number to the sum total of PG shares those same funds held back at the 03/31/2014 period, to see how the aggregate share count held by hedge funds has moved for PG. We found that between these two periods, funds increased their holdings by 18,455,983 shares in the aggregate, from 422,092,998 up to 440,548,981 for a share count increase of approximately 4.37%. The overall top three funds holding PG on 06/30/2014 were:

Fund Shares of PG Held
1. BlackRock Institutional Trust Company N.A. 72,073,946
2. BlackRock Fund Advisors 29,607,475
3. Yacktman Asset Management LP 28,191,905
4-10 Find out the full Top 10 Hedge Funds Holding PG

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 Procter & Gamble Co. (Symbol: PG).

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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.

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

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