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See Which Of The Latest 13F Filers Holds ConocoPhillips

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At Holdings Channel , we have reviewed the latest batch of the 26 most recent 13F filings for the 06/30/2018 reporting period, and noticed that ConocoPhillips (Symbol: COP) was held by 11 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 COP positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Yacktman Asset Management LP Existing -475,816 -$5,541
Sather Financial Group Inc Existing UNCH +$63
Becker Capital Management Inc. Existing -22 +$201
Tirschwell & Loewy Inc. Existing -5,200 -$259
Greatmark Investment Partners Inc. Existing -280 +$293
Pzena Investment Management LLC Existing -1,054,637 -$58,244
Vestpro Financial Partners Inc. dba CPF Texas Existing UNCH +$8
Sei Investments Co. Existing -158,369 -$4,944
Nomura Asset Management Co. Ltd. Existing -3,043 +$4,066
Cobblestone Capital Advisors LLC NY NEW +3,953 +$275
Mogy Joel R Investment Counsel Inc. NEW +3,000 +$209
Aggregate Change: -1,690,414 -$63,873

In terms of shares owned, we count 7 of the above funds having decreased their positions from 03/31/2018 to 06/30/2018, with 2 new positions. Worth noting is that Fidelity National Financial Inc. , included in this recent batch of 13F filers, exited COP common stock as of 06/30/2018.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the COP share count in the aggregate among all of the funds which held COP at the 06/30/2018 reporting period (out of the 1,462 we looked at in total). We then compared that number to the sum total of COP shares those same funds held back at the 03/31/2018 period, to see how the aggregate share count held by hedge funds has moved for COP. We found that between these two periods, funds increased their holdings by 3,034,884 shares in the aggregate, from 55,199,107 up to 58,233,991 for a share count increase of approximately 5.50%. The overall top three funds holding COP on 06/30/2018 were:

Fund Shares of COP Held
1. Bessemer Group Inc. 4,991,576
2. Sumitomo Mitsui Trust Holdings Inc. 4,084,591
3. Wells Fargo & Company MN 3,938,933
4-10 Find out the full Top 10 Hedge Funds Holding COP

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 ConocoPhillips (Symbol: COP).

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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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