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See Which Of The Latest 13F Filers Holds AT&T

At Holdings Channel , we have reviewed the latest batch of the 22 most recent 13F filings for the 03/31/2018 reporting period, and noticed that AT&T Inc (Symbol: T) was held by 14 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 T positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Addison Capital Co Existing +2 -$23
Crow Point Partners LLC Existing UNCH -$353
Accurate Investment Solutions Inc. Existing +2,532 -$226
American National Bank Existing -4,579 -$232
Farmers & Merchants Trust Co of Chambersburg PA Existing -11,625 -$628
Chevy Chase Trust Holdings Inc. Existing -196,981 -$25,140
Fenimore Asset Management Inc. Existing -260 -$41
ACG Wealth Existing -3,148 -$259
Lucas Capital Management Existing -3,355 -$521
Lourd Capital LLC Existing -739 -$117
Grassi Investment Management Existing +1,842 -$47
Nisa Investment Advisors LLC Existing -12,865 -$8,484
Hartford Financial Management Inc. Existing -196 -$164
Norway Savings Bank Existing +564 -$43
Aggregate Change: -228,808 -$36,278

In terms of shares owned, we count 4 of the above funds having increased existing T positions from 12/31/2017 to 03/31/2018, with 9 having decreased their positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the T share count in the aggregate among all of the funds which held T at the 03/31/2018 reporting period (out of the 129 we looked at in total). We then compared that number to the sum total of T shares those same funds held back at the 12/31/2017 period, to see how the aggregate share count held by hedge funds has moved for T. We found that between these two periods, funds reduced their holdings by 358,383 shares in the aggregate, from 10,232,258 down to 9,873,875 for a share count decline of approximately -3.50%. The overall top three funds holding T on 03/31/2018 were:

Fund Shares of T Held
1. Factory Mutual Insurance Co. 2,105,466
2. CENTRAL TRUST Co 532,166
3. Raymond James Trust N.A. 472,586
4-10 Find out the full Top 10 Hedge Funds Holding T

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 AT&T Inc (Symbol: T).

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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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