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See Which Of The Latest 13F Filers Holds Phillips 66

At Holdings Channel , we have reviewed the latest batch of the 62 most recent 13F filings for the 09/30/2015 reporting period, and noticed that Phillips 66 (Symbol: PSX) was held by 14 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 PSX positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Carret Asset Management LLC Existing -150 -$100
Aristotle Capital Management LLC Existing +30,402 -$8,219
NWQ Investment Management Company LLC Existing -334,222 -$27,337
Two Sigma Investments LLC Existing -217,928 -$17,644
Parametric Risk Advisors LLC Existing UNCH -$43
Wellington Management Group LLP Existing -384,306 -$60,162
Spectrum Advisory Services Inc. Existing UNCH -$57
Calvert Investment Management Inc. Existing +11,668 +$859
CSS LLC IL Existing -21,684 -$1,777
Balyasny Asset Management LLC Existing -214,025 -$16,463
WealthTrust Axiom LLC Existing +4 -$17
Santa Barbara Asset Management LLC Existing -343,626 -$32,426
Tradewinds Global Investors LLC NEW +3,070 +$236
Cambrian Capital Limited Partnership Existing -17,900 -$1,656
Aggregate Change: -1,488,697 -$164,806

In terms of shares owned, we count 3 of the above funds having increased existing PSX positions from 06/30/2015 to 09/30/2015, with 8 having decreased their positions and 1 new position. Worth noting is that Two Sigma Advisers LLC , included in this recent batch of 13F filers, exited PSX common stock as of 09/30/2015.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the PSX share count in the aggregate among all of the funds which held PSX at the 09/30/2015 reporting period (out of the 3,026 we looked at in total). We then compared that number to the sum total of PSX shares those same funds held back at the 06/30/2015 period, to see how the aggregate share count held by hedge funds has moved for PSX. We found that between these two periods, funds reduced their holdings by 20,290,317 shares in the aggregate, from 249,387,279 down to 229,096,962 for a share count decline of approximately -8.14%. The overall top three funds holding PSX on 09/30/2015 were:

Fund Shares of PSX Held
1. Vanguard Group Inc. 31,776,541
2. BlackRock Institutional Trust Company N.A. 12,882,758
3. Boston Partners 9,979,348
4-10 Find out the full Top 10 Hedge Funds Holding PSX

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 Phillips 66 (Symbol: PSX).

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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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