At Holdings Channel , we have reviewed the latest batch of the 24 most recent 13F filings for the 06/30/2015 reporting period, and noticed that Schlumberger Ltd. (Symbol: SLB) was held by 15 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 SLB positions, for this latest batch of 13F filers:
Change In Share Count
Change In Market Value($ in 1000's)
QUANTRES ASSET MANAGEMENT Ltd
Carl Domino Inc
Wallington Asset Management LLC
WealthTrust Arizona LLC
Delta Lloyd NV
Duncker Streett & Co. Inc.
Riverbridge Partners LLC
Capital One National Association
Anderson Hoagland & Co.
Sit Investment Associates Inc.
Mitchell Mcleod Pugh & Williams Inc.
Heritage Investors Management Corp
Prentiss Smith & Co. Inc.
Wendell David Associates Inc.
In terms of shares owned, we count 6 of the above funds having increased existing SLB positions from 03/31/2015 to 06/30/2015, with 5 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 SLB share count in the aggregate among all of the funds which held SLB at the 06/30/2015 reporting period (out of the 407 we looked at in total). We then compared that number to the sum total of SLB 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 SLB. We found that between these two periods, funds reduced their holdings by 3,586,777 shares in the aggregate, from 32,622,822 down to 29,036,045 for a share count decline of approximately -10.99%. The overall top three funds holding SLB on 06/30/2015 were:
Shares of SLB Held
Manning & Napier Advisors LLC
Fisher Asset Management LLC
WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST
Find out the full Top 10 Hedge Funds Holding SLB
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 Schlumberger Ltd. (Symbol: SLB).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.