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See Which Of The Latest 13F Filers Holds eBay

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At Holdings Channel , we have reviewed the latest batch of the 53 most recent 13F filings for the 03/31/2016 reporting period, and noticed that eBay Inc. (Symbol: EBAY) 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 EBAY positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
TCTC Holdings LLC Existing -9,150 -$834
Centaur Capital Partners L.P. NEW +47,500 +$1,133
Petrus Trust Company LTA Existing +14,400 -$512
Twin Tree Management LP Existing +30,599 +$500
TLP Group LLC NEW +19,000 +$453
Raine Capital LLC Existing -70,000 -$2,467
Northwestern Mutual Wealth Management Co. Existing +5,130 +$35
Parallax Volatility Advisers L.P. Existing -282,768 -$9,018
Marathon Partners Equity Management LLC Existing UNCH -$832
Deutsche Bank AG Existing +1,979,798 +$10,923
APG Asset Management N.V. Existing +137,000 -$1,308
Aggregate Change: +1,871,509 -$1,927

In terms of shares owned, we count 5 of the above funds having increased existing EBAY positions from 12/31/2015 to 03/31/2016, with 3 having decreased their positions and 2 new positions. Worth noting is that Sanctuary Wealth Advisors LLC , included in this recent batch of 13F filers, exited EBAY common stock as of 03/31/2016.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the EBAY share count in the aggregate among all of the funds which held EBAY at the 03/31/2016 reporting period (out of the 3,049 we looked at in total). We then compared that number to the sum total of EBAY 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 EBAY. We found that between these two periods, funds reduced their holdings by 16,239,334 shares in the aggregate, from 773,229,747 down to 756,990,413 for a share count decline of approximately -2.10%. The overall top three funds holding EBAY on 03/31/2016 were:

Fund Shares of EBAY Held
1. Vanguard Group Inc. 64,854,186
2. State Street Corp 43,278,270
3. Magellan Asset Management Ltd 36,318,975
4-10 Find out the full Top 10 Hedge Funds Holding EBAY

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 eBay Inc. (Symbol: EBAY).

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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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