Which Of The Latest 13F Filers Holds Microsoft?

At Holdings Channel , we have reviewed the latest batch of the 22 most recent 13F filings for the 12/31/2015 reporting period, and noticed that Microsoft Corporation (Symbol: MSFT) 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 MSFT positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Wheatland Advisors Inc. Existing -1,297 +$766
Waldron LP Existing +1,716 +$328
Paradigm Asset Management Co. LLC Existing -93,300 -$1,974
Pettee Investors Inc. Existing UNCH +$151
Cornerstone Capital Management LLC NEW +1,544,721 +$85,701
New England Investment & Retirement Group Inc. Existing -2,867 +$33
Pzena Investment Management LLC Existing -2,812,330 -$42,021
New Jersey Better Educational Savings Trust Existing -9,000 +$353
University of Texas Investment Managment Co. NEW +235 +$13
Bar Harbor Trust Services Existing +1,483 +$2,161
Miller Howard Investments Inc. NY Existing -176,701 +$18,533
Bangor Savings Bank Existing -1,622 +$129
Mayo Investment Advisers LLC Existing -38,424 +$5,498
Bank of Hawaii Existing -11,116 +$2,521
Aggregate Change: -1,598,502 +$72,192

In terms of shares owned, we count 2 of the above funds having increased existing MSFT positions from 09/30/2015 to 12/31/2015, with 9 having decreased their positions and 2 new positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the MSFT share count in the aggregate among all of the funds which held MSFT at the 12/31/2015 reporting period (out of the 1,270 we looked at in total). We then compared that number to the sum total of MSFT shares those same funds held back at the 09/30/2015 period, to see how the aggregate share count held by hedge funds has moved for MSFT. We found that between these two periods, funds increased their holdings by 513,748 shares in the aggregate, from 565,634,065 up to 566,147,813 for a share count increase of approximately 0.09%. The overall top three funds holding MSFT on 12/31/2015 were:

Fund Shares of MSFT Held
1. Barrow Hanley Mewhinney & Strauss LLC 29,239,493
2. California Public Employees Retirement System 20,621,516
3. Fisher Asset Management LLC 18,219,161
4-10 Find out the full Top 10 Hedge Funds Holding MSFT

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 Microsoft Corporation (Symbol: MSFT).

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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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