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See Which Of The Latest 13F Filers Holds Caterpillar

At Holdings Channel , we have reviewed the latest batch of the 22 most recent 13F filings for the 03/31/2016 reporting period, and noticed that Caterpillar Inc. (Symbol: CAT) was held by 15 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 CAT positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Moors & Cabot Inc. Existing +1,377 +$291
Formidable Asset Management LLC Existing UNCH +$2
Sei Investments Co. Existing +44,942 +$3,611
Hourglass Capital LLC Existing +2,160 +$738
Massmutual Trust Co. FSB ADV Existing +527 +$66
Folger Nolan Fleming Douglas Capital Management Inc. Existing +100 +$335
Zweig DiMenna Associates LLC Existing +336,270 +$24,291
CG Asset Management LLC Existing +15,650 +$1,248
KCM Investment Advisors LLC Existing +780 +$330
Pioneer Investment Management Inc. NEW +2,813 +$215
Waterfront Capital Partners LLC NEW +85,000 +$6,506
Peapack Gladstone Financial Corp Existing -30,553 -$1,677
Schroder Investment Management Group Existing +357,706 +$30,138
Archford Capital Strategies LLC Existing -1,034 -$77
Haverford Trust Co. Existing -175 +$24
Aggregate Change: +815,563 +$66,041
In terms of shares owned, we count 9 of the above funds having increased existing CAT positions from 12/31/2015 to 03/31/2016, with 3 having decreased their positions and 2 new positions. Worth noting is that Norges Bank , included in this recent batch of 13F filers, exited CAT common stock as of 03/31/2016. Looking beyond these particular funds in this one batch of most recent filers, we tallied up the CAT share count in the aggregate among all of the funds which held CAT at the 03/31/2016 reporting period (out of the 1,664 we looked at in total). We then compared that number to the sum total of CAT 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 CAT. We found that between these two periods, funds increased their holdings by 2,271,035 shares in the aggregate, from 39,556,000 up to 41,827,035 for a share count increase of approximately 5.74%. The overall top three funds holding CAT on 03/31/2016 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 Caterpillar Inc. (Symbol: CAT).

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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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