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See Which Of The Latest 13F Filers Holds 3M

At Holdings Channel , we have reviewed the latest batch of the 21 most recent 13F filings for the 03/31/2016 reporting period, and noticed that 3M Co (Symbol: MMM) 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 MMM positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Capital One National Association Existing -2,022 +$659
Anderson Hoagland & Co. Existing +6,060 +$1,335
Cohen Klingenstein LLC Existing UNCH +$244
Traynor Capital Management Inc. Existing +917 +$231
Private Trust Co. NA Existing -1,272 +$184
Sigma Planning Corp Existing +114 +$155
Pinnacle Advisory Group Inc. Existing -4,310 +$164
Laurel Grove Capital LLC Existing UNCH +$44
Country Trust Bank Existing -1,697 +$1,318
New York State Teachers Retirement System Existing -2,670 +$18,268
Somerset Group LLC Existing UNCH +$1,214
Private Bank & Trust Co. Existing -460 +$115
Palo Capital Inc. Existing +319 +$182
Aggregate Change: -5,021 +$24,113
In terms of shares owned, we count 4 of the above funds having increased existing MMM positions from 12/31/2015 to 03/31/2016, with 6 having decreased their positions. Looking beyond these particular funds in this one batch of most recent filers, we tallied up the MMM share count in the aggregate among all of the funds which held MMM at the 03/31/2016 reporting period (out of the 326 we looked at in total). We then compared that number to the sum total of MMM shares those same funds held back at the 12/31/2015 period, to see how the aggregate share count held by hedge funds has moved for MMM. We found that between these two periods, funds increased their holdings by 97,919 shares in the aggregate, from 5,184,177 up to 5,282,096 for a share count increase of approximately 1.89%. The overall top three funds holding MMM on 03/31/2016 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 3M Co (Symbol: MMM).

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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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