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Which Of The Latest 13F Filers Holds General Mills?

At Holdings Channel , we have reviewed the latest batch of the 33 most recent 13F filings for the 03/31/2016 reporting period, and noticed that General Mills, Inc. (Symbol: GIS) 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 GIS positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Shoker Investment Counsel Inc. Existing +1,477 +$250
Public Sector Pension Investment Board Existing -56,400 -$2,705
Burnham Asset Management Corp NY Existing -1,200 +$22
Fiduciary Financial Services of The Southwest Inc. TX Existing -525 +$40
McGowan Group Asset Management Inc. Existing UNCH +$32
ZWJ Investment Counsel Inc. Existing -65 +$63
Navellier & Associates Inc Existing +12,075 +$790
Alliancebernstein L.P. Existing +186,224 +$24,844
Johnson Investment Counsel Inc. Existing -968 +$31
Intact Investment Management Inc. Existing +17,500 +$1,251
Aggregate Change: +158,118 +$24,618

In terms of shares owned, we count 4 of the above funds having increased existing GIS positions from 12/31/2015 to 03/31/2016, with 5 having decreased their positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the GIS share count in the aggregate among all of the funds which held GIS at the 03/31/2016 reporting period (out of the 2,437 we looked at in total). We then compared that number to the sum total of GIS shares those same funds held back at the 12/31/2015 period, to see how the aggregate share count held by hedge funds has moved for GIS. We found that between these two periods, funds reduced their holdings by 5,299,577 shares in the aggregate, from 234,006,771 down to 228,707,194 for a share count decline of approximately -2.26%. The overall top three funds holding GIS on 03/31/2016 were:

Fund Shares of GIS Held
1. State Street Corp 36,502,697
2. Massachusetts Financial Services Co. MA 20,052,906
3. BlackRock Institutional Trust Company N.A. 19,026,634
4-10 Find out the full Top 10 Hedge Funds Holding GIS

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 General Mills, Inc. (Symbol: GIS).

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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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