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See Which Of The Latest 13F Filers Holds United Technologies

At Holdings Channel , we have reviewed the latest batch of the 20 most recent 13F filings for the 09/30/2016 reporting period, and noticed that United Technologies Corp (Symbol: UTX) 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 UTX positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Mackay Shields LLC Existing UNCH -$84
North American Management Corp Existing -1,004 -$318
Court Place Advisors LLC Existing +200 +$13
Peoples Financial Services CORP. Existing +4,382 +$438
Horan Securities Inc. Existing UNCH -$18
Acadian Asset Management LLC Existing UNCH -$42
First National Bank & Trust Co. of Newtown Existing UNCH +$2
Bridges Investment Counsel Inc. Existing UNCH $UNCH
Bangor Savings Bank Existing +10 -$20
Mountain Pacific Investment Advisers Inc. ID Existing -5,874 -$646
Cullen Frost Bankers Inc. Existing -769 -$140
Aggregate Change: -3,055 -$815

In terms of shares owned, we count 3 of the above funds having increased existing UTX positions from 06/30/2016 to 09/30/2016, with 3 having decreased their positions. Worth noting is that Horan Securities Inc. , included in this recent batch of 13F filers, exited UTX common stock as of 09/30/2016.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the UTX share count in the aggregate among all of the funds which held UTX at the 09/30/2016 reporting period (out of the 452 we looked at in total). We then compared that number to the sum total of UTX shares those same funds held back at the 06/30/2016 period, to see how the aggregate share count held by hedge funds has moved for UTX. We found that between these two periods, funds increased their holdings by 102,297 shares in the aggregate, from 21,889,393 up to 21,991,690 for a share count increase of approximately 0.47%. The overall top three funds holding UTX on 09/30/2016 were:

Fund Shares of UTX Held
1. Fisher Asset Management LLC 8,317,013
2. Legal & General Group Plc 3,584,300
3. Bank of Montreal Can 930,448
4-10 Find out the full Top 10 Hedge Funds Holding UTX

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 United Technologies Corp (Symbol: UTX).

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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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