Joel Kornblau - Tuesday, November 12, 12:45 PMAt Holdings Channel, we have reviewed the latest batch of the 31 most recent 13F filings for the 09/30/2019 reporting period, and noticed that Mondelez International Inc (MDLZ) 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 MDLZ positions, for this latest batch of 13F filers:
|Fund||New Position?||Change In Share Count||Change In Market Value ($ in 1000's)|
|Marco Investment Management LLC||Existing||+489||+$35|
|Matrix Asset Advisors Inc. NY||Existing||-13,593||-$512|
|Lido Advisors LLC||Existing||+5,621||+$331|
|BDO Wealth Advisors LLC||Existing||+1||+$2|
|NorthRock Partners LLC||NEW||+358,341||+$19,925|
|GSA Capital Partners LLP||NEW||+4,875||+$270|
|Fiduciary Trust Co.||Existing||+6,948||+$455|
|Peregrine Asset Advisers Inc.||Existing||+180||+$19|
|Skba Capital Management LLC||Existing||-14,900||-$553|
|KDI Capital Partners LLC||Existing||-6,554||-$166|
|Overbrook Management Corp||Existing||UNCH||+$22|
|Valley National Advisers Inc.||Existing||+100||+$13|
|Beach Investment Counsel Inc. PA||Existing||UNCH||+$14|
In terms of shares owned, we count 6 of the above funds having increased existing MDLZ positions from 06/30/2019 to 09/30/2019, with 4 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 MDLZ share count in the aggregate among all of the funds which held MDLZ at the 09/30/2019 reporting period (out of the 2,445 we looked at in total). We then compared that number to the sum total of MDLZ shares those same funds held back at the 06/30/2019 period, to see how the aggregate share count held by hedge funds has moved for MDLZ. We found that between these two periods, funds increased their holdings by 2,191,019 shares in the aggregate, from 298,025,391 up to 300,216,410 for a share count increase of approximately 0.74%. The overall top three funds holding MDLZ on 09/30/2019 were:
|»||Fund||Shares of MDLZ Held|
|2.||Lindsell Train Ltd||32,237,323|
|3.||Bank of New York Mellon Corp||16,168,757|
|4-10||Find out the full Top 10 Hedge Funds Holding MDLZ||»|
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 Mondelez International Inc (MDLZ).
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