See Which Of The Latest 13F Filers Holds American Express

At Holdings Channel , we have reviewed the latest batch of the 41 most recent 13F filings for the 12/31/2017 reporting period, and noticed that American Express Co. (Symbol: AXP) was held by 18 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 AXP positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Argent Trust Co Existing -568 -$7
Rothschild Asset Management Inc. Existing -19,924 +$3,394
New York State Teachers Retirement System Existing +51 +$10,716
Blackhawk Capital Partners LLC. NEW +60 +$6
Bar Harbor Trust Services Existing -38 +$758
Dimensional Fund Advisors LP Existing -63,695 +$21,518
NN Investment Partners Holdings N.V. Existing +3,757 +$1,700
Aft Forsyth & Company Inc. NEW +6,930 +$688
Adviser Investments LLC Existing +70 +$107
Winfield Associates Inc. Existing UNCH +$5
Mirae Asset Global Investments Co. Ltd. Existing +4,678 +$829
Holowesko Partners Ltd. Existing -948,000 -$85,685
Drexel Morgan & Co. Existing +184 +$184
Red Cedar Capital LLC NEW +5,400 +$536
America First Investment Advisors LLC Existing UNCH +$1
Ameriprise Financial Inc. Existing -94,601 +$2,210
Azimuth Capital Management LLC Existing -15 +$151
LaSalle Street Capital Management LLC Existing UNCH +$102
Aggregate Change: -1,105,711 -$42,787

In terms of shares owned, we count 5 of the above funds having increased existing AXP positions from 09/30/2017 to 12/31/2017, with 7 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 AXP share count in the aggregate among all of the funds which held AXP at the 12/31/2017 reporting period (out of the 2,160 we looked at in total). We then compared that number to the sum total of AXP shares those same funds held back at the 09/30/2017 period, to see how the aggregate share count held by hedge funds has moved for AXP. We found that between these two periods, funds reduced their holdings by 813,139 shares in the aggregate, from 199,178,459 down to 198,365,320 for a share count decline of approximately -0.41%. The overall top three funds holding AXP on 12/31/2017 were:

Fund Shares of AXP Held
1. BlackRock Inc. 43,090,501
2. Barrow Hanley Mewhinney & Strauss LLC 15,111,005
3. First Eagle Investment Management LLC 12,851,346
4-10 Find out the full Top 10 Hedge Funds Holding AXP

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 American Express Co. (Symbol: AXP).

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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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