At Holdings Channel , we have reviewed the latest batch of the 23 most recent 13F filings for the 06/30/2018 reporting period, and noticed that Nike (Symbol: NKE) 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 NKE positions, for this latest batch of 13F filers:
Change In Share Count
Change In Market Value($ in 1000's)
Keybank National Association OH
Zevin Asset Management LLC
FDx Advisors Inc.
Hanson & Doremus Investment Management
BLS Capital Fondsmaeglerselskab A S
Moisand Fitzgerald Tamayo LLC
Poehling Capital Management LLC
Price Wealth Management Inc.
First Long Island Investors LLC
Sapphire Star Partners LP
Quadrant Capital Management LLC
In terms of shares owned, we count 1 of the above funds having increased existing NKE positions from 03/31/2018 to 06/30/2018, with 6 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the NKE share count in the aggregate among all of the funds which held NKE at the 06/30/2018 reporting period (out of the 1,920 we looked at in total). We then compared that number to the sum total of NKE 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 NKE. We found that between these two periods, funds reduced their holdings by 7,799,896 shares in the aggregate, from 170,665,583 down to 162,865,687 for a share count decline of approximately -4.57%. The overall top three funds holding NKE on 06/30/2018 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 Nike (Symbol: NKE).