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See Which Of The Latest 13F Filers Holds Baxter International

At Holdings Channel , we have reviewed the latest batch of the 37 most recent 13F filings for the 12/31/2015 reporting period, and noticed that Baxter International Inc. (Symbol: BAX) 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 BAX positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Cadian Capital Management LP NEW +869,250 +$33,162
Clinton Group Inc. Existing -175,113 -$5,723
Segall Bryant & Hamill LLC Existing -2,875 +$1,041
Partners Capital Investment Group LLC NEW +11,032 +$421
Visium Asset Management LP Existing +1,016,396 +$38,868
Brown Brothers Harriman & Co. Existing -105,900 +$1,791
Boston Private Wealth LLC Existing -31,889 -$861
Carlson Capital L P Existing +225,484 +$13,660
Horizon Kinetics LLC Existing +50 +$76
Broderick Brian C Existing +200 +$36
Farmers National Bank NEW +6,004 +$230
Guardian Capital Advisors LP Existing +4,270 +$658
Aggregate Change: +1,816,909 +$83,359

In terms of shares owned, we count 5 of the above funds having increased existing BAX positions from 09/30/2015 to 12/31/2015, with 4 having decreased their positions and 3 new positions. Worth noting is that Peak Asset Management LLC , included in this recent batch of 13F filers, exited BAX common stock as of 12/31/2015.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the BAX share count in the aggregate among all of the funds which held BAX at the 12/31/2015 reporting period (out of the 2,379 we looked at in total). We then compared that number to the sum total of BAX shares those same funds held back at the 09/30/2015 period, to see how the aggregate share count held by hedge funds has moved for BAX. We found that between these two periods, funds increased their holdings by 7,165,652 shares in the aggregate, from 166,306,773 up to 173,472,425 for a share count increase of approximately 4.31%. The overall top three funds holding BAX on 12/31/2015 were:

Fund Shares of BAX Held
1. Vanguard Group Inc. 32,092,496
2. BlackRock Institutional Trust Company N.A. 14,778,910
3. Veritas Asset Management LLP 10,592,749
4-10 Find out the full Top 10 Hedge Funds Holding BAX

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 Baxter International Inc. (Symbol: BAX).

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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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