At Holdings Channel , we have reviewed the latest batch of the 49 most recent 13F filings for the 12/31/2016 reporting period, and noticed that Activision Blizzard, Inc. (Symbol: ATVI) was held by 17 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 ATVI positions, for this latest batch of 13F filers:
Change In Share Count
Change In Market Value($ in 1000's)
Rosenblum Silverman Sutton S F Inc ca
FDx Advisors Inc.
Clearbridge Investments LLC
PDT Partners LLC
Royal Bank of Canada
Cornerstone Capital Management Holdings LLC.
Beacon Trust Co.
Bank of America Corp DE
Nomura Asset Management Co. Ltd.
Jefferies Group LLC
QVT Financial LP
First Foundation Advisors
Acrospire Investment Management LLC
UBS Group AG
Guardian Life Insurance Co. of America
Brinker Capital Inc.
Aureus Asset Management LLC
In terms of shares owned, we count 10 of the above funds having increased existing ATVI positions from 09/30/2016 to 12/31/2016, with 3 having decreased their positions and 3 new positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the ATVI share count in the aggregate among all of the funds which held ATVI at the 12/31/2016 reporting period (out of the 2,765 we looked at in total). We then compared that number to the sum total of ATVI shares those same funds held back at the 09/30/2016 period, to see how the aggregate share count held by hedge funds has moved for ATVI. We found that between these two periods, funds increased their holdings by 2,446,215 shares in the aggregate, from 425,372,449 up to 427,818,664 for a share count increase of approximately 0.58%. The overall top three funds holding ATVI on 12/31/2016 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 Activision Blizzard, Inc. (Symbol: ATVI).
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