Joel Kornblau - Wednesday, May 13, 10:52 AMAt Holdings Channel, we have reviewed the latest batch of the 21 most recent 13F filings for the 03/31/2020 reporting period, and noticed that Microsoft Corporation (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)|
|Mitsubishi UFJ Trust & Banking Corp||Existing||+438,229||+$69,188|
|Roosevelt Investment Group Inc.||Existing||-109||-$15|
|SP Asset Management||Existing||+2,531||+$400|
|Principle Wealth Partners LLC||Existing||-1,316||-$207|
|Ferris Capital LLC||Existing||+5,770||+$910|
|Lido Advisors LLC||Existing||+26,497||+$4,181|
|Peddock Capital Advisors LLC||Existing||+269||+$43|
|Cooper Haims Advisors LLC||Existing||+63||+$10|
|Group One Trading L.P.||Existing||+186,183||+$29,363|
|Parisi Gray Wealth Management||Existing||+291||+$46|
|Moneta Group Investment Advisors LLC||Existing||+8,309||+$1,311|
|SeaCrest Wealth Management LLC||Existing||+6,991||+$1,104|
|Latash Investments LLC||Existing||UNCH||$UNCH|
In terms of shares owned, we count 10 of the above funds having increased existing MSFT positions from 12/31/2019 to 03/31/2020, with 2 having decreased their positions and 1 new position.
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 03/31/2020 reporting period (out of the 2,997 we looked at in total). We then compared that number to the sum total of MSFT shares those same funds held back at the 12/31/2019 period, to see how the aggregate share count held by hedge funds has moved for MSFT. We found that between these two periods, funds reduced their holdings by 102,577,279 shares in the aggregate, from 1,950,073,414 down to 1,847,496,135 for a share count decline of approximately -5.26%. The overall top three funds holding MSFT on 03/31/2020 were:
|»||Fund||Shares of MSFT Held|
|2.||State Street Corp||314,771,248|
|3.||Bank of New York Mellon Corp||83,407,510|
|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 (MSFT).
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