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See Which Of The Latest 13F Filers Holds Philip Morris International

At Holdings Channel , we have reviewed the latest batch of the 21 most recent 13F filings for the 06/30/2017 reporting period, and noticed that Philip Morris International Inc (Symbol: PM) was held by 12 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 PM positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Underhill Investment Management LLC Existing -2,500 -$263
Deroy & Devereaux Private Investment Counsel Inc. Existing UNCH +$13
Kornitzer Capital Management Inc. KS Existing -350 -$28
Moody National Bank Trust Division Existing UNCH +$26
Northside Capital Management LLC Existing UNCH +$71
Winfield Associates Inc. Existing +5,101 +$632
Warren Averett Asset Management LLC Existing -1,008 -$66
Midas Management Corp Existing UNCH +$132
Klingenstein Fields & Co. LLC Existing -16,831 -$1,674
Bbva Compass Bancshares Inc. Existing -4,182 -$29
Mcrae Capital Management Inc. Existing UNCH +$13
American Research & Management Co. Existing -100 +$173
Aggregate Change: -19,870 -$1,000

In terms of shares owned, we count 1 of the above funds having increased existing PM positions from 03/31/2017 to 06/30/2017, with 6 having decreased their positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the PM share count in the aggregate among all of the funds which held PM at the 06/30/2017 reporting period (out of the 831 we looked at in total). We then compared that number to the sum total of PM shares those same funds held back at the 03/31/2017 period, to see how the aggregate share count held by hedge funds has moved for PM. We found that between these two periods, funds reduced their holdings by 141,895 shares in the aggregate, from 39,492,253 down to 39,350,358 for a share count decline of approximately -0.36%. The overall top three funds holding PM on 06/30/2017 were:

Fund Shares of PM Held
1. APG Asset Management N.V. 4,511,343
2. Vontobel Asset Management Inc. 4,428,286
3. Russell Investments Group Ltd. 1,975,234
4-10 Find out the full Top 10 Hedge Funds Holding PM

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 Philip Morris International Inc (Symbol: PM).

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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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