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See Which Of The Latest 13F Filers Holds Medtronic

At Holdings Channel , we have reviewed the latest batch of the 32 most recent 13F filings for the 12/31/2016 reporting period, and noticed that Medtronic PLC (Symbol: MDT) 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 MDT positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Alliancebernstein L.P. Existing -3,241,751 -$320,352
Foyston Gordon & Payne Inc Existing -67,185 -$11,239
Meiji Yasuda Life Insurance Co Existing -2,490 -$817
Colonial Trust Advisors Existing +142 -$121
New York State Common Retirement Fund Existing -56,149 -$70,388
Nomura Holdings Inc. Existing +45,504 +$1,336
Cibc World Markets Corp NEW +91,014 +$6,483
Rikoon Group LLC Existing -1,706 -$196
Schwab Charles Investment Management Inc. Existing +9,683 -$63,300
ICICI Prudential Asset Management Co Ltd NEW +3,300 +$235
Cambridge Investment Research Advisors Inc. Existing -475 -$920
RPg Family Wealth Advisory LLC Existing -106 -$16
Cannell Peter B & Co. Inc. Existing -1,950 -$878
Zacks Investment Management Existing -58,346 -$6,582
Smith Affiliated Capital Corp. NEW +143 +$10
Aggregate Change: -3,280,372 -$466,745

In terms of shares owned, we count 3 of the above funds having increased existing MDT positions from 09/30/2016 to 12/31/2016, with 9 having decreased their positions and 3 new positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the MDT share count in the aggregate among all of the funds which held MDT at the 12/31/2016 reporting period (out of the 2,240 we looked at in total). We then compared that number to the sum total of MDT 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 MDT. We found that between these two periods, funds reduced their holdings by 29,674,337 shares in the aggregate, from 465,573,722 down to 435,899,385 for a share count decline of approximately -6.37%. The overall top three funds holding MDT on 12/31/2016 were:

Fund Shares of MDT Held
1. State Street Corp 64,040,900
2. FMR LLC 58,858,727
3. BlackRock Institutional Trust Company N.A. 36,954,124
4-10 Find out the full Top 10 Hedge Funds Holding MDT

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 Medtronic PLC (Symbol: MDT).

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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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