At Holdings Channel , we have reviewed the latest batch of the 20 most recent 13F filings for the 03/31/2016 reporting period, and noticed that Amazon.com Inc. (Symbol: AMZN) was held by 12 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 AMZN positions, for this latest batch of 13F filers:
Fund
New Position?
Change In Share Count
Change In Market Value($ in 1000's)
Dumont & Blake Investment Advisors LLC
Existing
UNCH
-$34
Concannon Wealth Management LLC
Existing
-123
-$85
Empirical Financial Services LLC
Existing
+142
+$28
Schaper Benz & Wise Investment Counsel Inc. WI
Existing
UNCH
-$35
Hartwell J M Limited Partnership
Existing
-470
-$486
OLD Second National Bank of Aurora
Existing
UNCH
-$9
Valley National Advisers Inc.
Existing
+166
+$77
Nichols Asset Management LLC
Existing
UNCH
-$50
Horrell Capital Management Inc.
Existing
UNCH
-$2
Everence Capital Management Inc.
Existing
UNCH
-$692
Alta Capital Management LLC
Existing
-26
-$94
Penbrook Management LLC
Existing
+1,728
+$794
Aggregate Change:
+1,417
-$588
In terms of shares owned, we count 3 of the above funds having increased existing AMZN positions from 12/31/2015 to 03/31/2016, with 3 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the AMZN share count in the aggregate among all of the funds which held AMZN at the 03/31/2016 reporting period (out of the 503 we looked at in total). We then compared that number to the sum total of AMZN 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 AMZN. We found that between these two periods, funds increased their holdings by 41,436 shares in the aggregate, from 6,352,298 up to 6,393,734 for a share count increase of approximately 0.65%. The overall top three funds holding AMZN on 03/31/2016 were:
Fund
Shares of AMZN Held
1.
Fisher Asset Management LLC
2,503,102
2.
New York State Teachers Retirement System
730,334
3.
Vontobel Asset Management Inc.
399,841
4-10
Find out the full Top 10 Hedge Funds Holding AMZN
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 Amazon.com Inc. (Symbol: AMZN).
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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.
