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See Which Of The Latest 13F Filers Holds Target

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At Holdings Channel , we have reviewed the latest batch of the 28 most recent 13F filings for the 12/31/2016 reporting period, and noticed that Target Corp (Symbol: TGT) was held by 10 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 TGT positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Davidson Investment Advisors Existing UNCH +$7
Rothschild Asset Management Inc. Existing +647 +$81
Krilogy Financial LLC Existing UNCH +$2
Northern Oak Wealth Management Inc. Existing -532 +$20
DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main NEW +26,487 +$1,914
HM Payson & Co. Existing -895 -$15
Lebenthal Asset Management LLC Existing -165 +$250
SRB Corp Existing -80 +$4,249
D.A. Davidson & CO. Existing +35,744 +$2,642
Narus Financial Partners LLC NEW +2,800 +$202
Aggregate Change: +64,006 +$9,352

In terms of shares owned, we count 2 of the above funds having increased existing TGT positions from 09/30/2016 to 12/31/2016, with 4 having decreased their positions and 2 new positions. Worth noting is that Teachers Retirement System of The State of Kentucky , included in this recent batch of 13F filers, exited TGT common stock as of 12/31/2016.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the TGT share count in the aggregate among all of the funds which held TGT at the 12/31/2016 reporting period (out of the 4,029 we looked at in total). We then compared that number to the sum total of TGT 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 TGT. We found that between these two periods, funds increased their holdings by 6,746,560 shares in the aggregate, from 435,679,962 up to 442,426,522 for a share count increase of approximately 1.55%. The overall top three funds holding TGT on 12/31/2016 were:

Fund Shares of TGT Held
1. State Street Corp 51,198,488
2. Vanguard Group Inc. 40,599,172
3. BlackRock Institutional Trust Company N.A. 17,136,015
4-10 Find out the full Top 10 Hedge Funds Holding TGT

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 Target Corp (Symbol: TGT).

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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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