Which 10 Gurus All Hold Bank of America?

When hedge fund manager "titans" think alike, investors are wise to pay attention. At Holdings Channel , we have reviewed 4,055 13F filings for the 06/30/2015 reporting period, and noticed that Bank of America Corp. (Symbol: BAC) was held by 10 of the particular managers we have flagged as "titans" most widely followed by investors. It is not every day we see this many notable hedge fund managers thinking alike, so we wanted to take a closer look.

Before we continue, 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 BAC positions for each of the titans that reported holding some amount of BAC at 06/30/2015:

Fund Manager New Position? Change In Share Count Change In Market Value($ in 1000's)
Louis Bacon ( Moore Capital Management ) Existing +3,476,391 +$59,370
Bruce Berkowitz ( Fairholme ) Existing -843,780 +$110,180
Jeremy Grantham ( GMO ) Existing -546,900 -$4,539
Joel Greenblatt ( Gotham Asset Management ) Existing +2,622 +$65
Ken Griffin ( Citadel ) Existing +9,958,031 +$171,448
Howard Marks ( Oaktree ) Existing UNCH -$225
John Paulson ( Paulson & Co. ) Existing -3,150,702 -$12,602
Jim Simons ( Renaissance Tech ) Existing +248,929 +$12,033
Brian Taylor ( Pine River ) NEW +29,400 +$500
David Tepper ( Appaloosa ) Existing +1,260,000 +$22,504
Aggregate Change: +10,433,991 +$358,734

In terms of shares owned, we count 5 of the identified titans above having increased existing BAC positions from 03/31/2015 to 06/30/2015, with 3 having decreased their positions and 1 new position. Worth noting is that Ray Dalio ( Bridgewater ) - also deemed to have "titan" status - exited BAC common stock as of 06/30/2015.

Looking beyond these particular hedge funds of interest, we tallied up the BAC share count in the aggregate among all of the funds which held BAC at the 06/30/2015 reporting period (out of the 4,055 we looked at). We then compared that number to the sum total of BAC shares those same funds held back at the 03/31/2015 period, to see how the aggregate share count held by hedge funds has moved for BAC. We found that between these two periods, hedge funds increased their holdings by 183,379,785 shares in the aggregate, from 6,181,086,757 up to 6,364,466,542 for a share count increase of approximately 2.97%. The overall top three hedge funds holding BAC on 06/30/2015 were:

Fund Shares of BAC Held
1. Vanguard Group Inc. 565,049,172
2. State Street Corp 426,865,279
3. FMR LLC 333,933,376
4-10 Find out the full Top 10 Hedge Funds Holding BAC

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 Bank of America Corp. (Symbol: BAC).

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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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