Joel Kornblau - Monday, August 3, 10:37 AMAt Holdings Channel, we have reviewed the latest batch of the 20 most recent 13F filings for the 06/30/2020 reporting period, and noticed that Apple Inc (AAPL) was held by 18 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 AAPL positions, for this latest batch of 13F filers:
|Fund||New Position?||Change In Share Count||Change In Market Value ($ in 1000's)|
|Cohen Capital Management Inc.||Existing||UNCH||+$272|
|BigSur Wealth Management LLC||Existing||-2,150||+$712|
|Verus Financial Partners Inc.||Existing||+7||+$656|
|Asio Capital LLC||Existing||-53||+$1,190|
|Texas Yale Capital Corp.||Existing||+2,263||+$6,607|
|HMS Capital Management LLC||Existing||+2,392||+$1,451|
|National Asset Management Inc.||Existing||-2,317||+$12,173|
|Merriman Wealth Management LLC||Existing||-3,320||+$1,727|
|Bernardo Wealth Planning LLC||Existing||-59||+$4,705|
|Foundry Partners LLC||Existing||-1,153||-$15|
|Thomas Story & Son LLC||Existing||-5||+$2,606|
|Live Oak Private Wealth LLC||Existing||+9,424||+$4,759|
|Analyst IMS Investment Management Services Ltd.||Existing||-3,071||+$1,528|
In terms of shares owned, we count 7 of the above funds having increased existing AAPL positions from 03/31/2020 to 06/30/2020, with 9 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the AAPL share count in the aggregate among all of the funds which held AAPL at the 06/30/2020 reporting period (out of the 1,566 we looked at in total). We then compared that number to the sum total of AAPL shares those same funds held back at the 03/31/2020 period, to see how the aggregate share count held by hedge funds has moved for AAPL. We found that between these two periods, funds reduced their holdings by 5,235,505 shares in the aggregate, from 151,651,021 down to 146,415,516 for a share count decline of approximately -3.45%. The overall top three funds holding AAPL on 06/30/2020 were:
|»||Fund||Shares of AAPL Held|
|1.||Sumitomo Mitsui Trust Holdings Inc.||19,404,457|
|2.||UBS Group AG||12,545,803|
|3.||New York State Teachers Retirement System||5,984,918|
|4-10||Find out the full Top 10 Hedge Funds Holding AAPL||»|
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 Apple Inc (AAPL).
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