At Holdings Channel , we have reviewed the latest batch of the 33 most recent 13F filings for the 06/30/2015 reporting period, and noticed that Fiserv, Inc. (Symbol: FISV) 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 FISV positions, for this latest batch of 13F filers:
Change In Share Count
Change In Market Value($ in 1000's)
Bbva Compass Bancshares Inc.
Principal Financial Group Inc.
Findlay Park Partners LLP
Whitnell & Co.
Marietta Investment Partners LLC
West Chester Capital Advisors Inc.
USA Financial Portformulas Corp
Commerzbank Aktiengesellschaft FI
Fidgeon Timothy F
Kidder Stephen W
Vestor Capital LLC
Puzo Michael J
In terms of shares owned, we count 4 of the above funds having increased existing FISV positions from 03/31/2015 to 06/30/2015, with 7 having decreased their positions and 2 new positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the FISV share count in the aggregate among all of the funds which held FISV at the 06/30/2015 reporting period (out of the 1,632 we looked at in total). We then compared that number to the sum total of FISV shares those same funds held back at the 03/31/2015 period, to see how the aggregate share count held by hedge funds has moved for FISV. We found that between these two periods, funds reduced their holdings by 114,555 shares in the aggregate, from 55,189,427 down to 55,074,872 for a share count decline of approximately -0.21%. The overall top three funds holding FISV on 06/30/2015 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 Fiserv, Inc. (Symbol: FISV).