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See Which Of The Latest 13F Filers Holds Cisco Systems

At Holdings Channel , we have reviewed the latest batch of the 24 most recent 13F filings for the 12/31/2016 reporting period, and noticed that Cisco Systems Inc (Symbol: CSCO) was held by 13 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 CSCO positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Madrona Financial Services LLC Existing UNCH -$11
State Street Corp Existing +5,886,055 -$141,172
Meridian Investment Counsel Inc. Existing +219 -$30
Rand Wealth LLC Existing +4,225 -$223
Van Den Berg Management I Inc. Existing UNCH -$38
Commonwealth of Pennsylvania Public School Empls Retrmt SYS Existing +494 -$416
Muhlenkamp & Co. Inc. Existing UNCH -$28
Barnett & Company Inc. Existing UNCH $UNCH
BBT Capital Management LLC Existing UNCH -$289
Taylor Cottrill Erickson & Associates Inc. Existing -1,000 -$129
Boston Research & Management Inc. Existing -940 -$245
D L Carlson Investment Group Inc. Existing -1,900 -$85
Coldstream Capital Management Inc. Existing -29,931 -$1,050
Aggregate Change: +5,857,222 -$143,716

In terms of shares owned, we count 4 of the above funds having increased existing CSCO positions from 09/30/2016 to 12/31/2016, with 4 having decreased their positions. Worth noting is that USS Investment Management Ltd , included in this recent batch of 13F filers, exited CSCO common stock as of 12/31/2016.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the CSCO share count in the aggregate among all of the funds which held CSCO at the 12/31/2016 reporting period (out of the 1,728 we looked at in total). We then compared that number to the sum total of CSCO shares those same funds held back at the 09/30/2016 period, to see how the aggregate share count held by hedge funds has moved for CSCO. We found that between these two periods, funds reduced their holdings by 5,214,705 shares in the aggregate, from 711,957,235 down to 706,742,530 for a share count decline of approximately -0.73%. The overall top three funds holding CSCO on 12/31/2016 were:

Fund Shares of CSCO Held
1. Ameriprise Financial Inc. 58,044,589
2. Wells Fargo & Company MN 53,079,366
3. Nordea Investment Management AB 28,753,460
4-10 Find out the full Top 10 Hedge Funds Holding CSCO

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 Cisco Systems Inc (Symbol: CSCO).

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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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