HoldingsChannel.com
Joel Kornblau - Tuesday, January 26, 4:34 PMAt Holdings Channel, we have reviewed the latest batch of the 26 most recent 13F filings for the 12/31/2020 reporting period, and noticed that Starbucks Corp. (SBUX) was held by 17 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
Start slideshow: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 SBUX positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Westwood Management Corp IL | Existing | +4,600 | +$555 |
| Bfsg LLC | Existing | +50 | +$106 |
| Spinnaker Trust | Existing | UNCH | +$74 |
| KLCM Advisors Inc. | NEW | +1,875 | +$201 |
| Tower View Investment Management & Research LLC | Existing | +415 | +$775 |
| OLD Dominion Capital Management Inc. | Existing | +560 | +$234 |
| Ironwood Financial llc | Existing | +37 | +$5 |
| Sawyer & Company Inc | Existing | UNCH | +$563 |
| Great Diamond Partners LLC | Existing | +1,129 | +$792 |
| Eidelman Virant Capital | Existing | -5,937 | -$43 |
| Community Bank & Trust Waco Texas | NEW | +2,486 | +$266 |
| Howland Capital Management LLC | Existing | UNCH | +$156 |
| Moody Lynn & Lieberson LLC | Existing | UNCH | +$177 |
| Avion Wealth | Existing | -20 | +$13 |
| Moseley Investment Management Inc. | Existing | -3,398 | -$246 |
| HC Financial Advisors Inc. | Existing | -1,162 | +$273 |
| PrairieView Partners LLC | Existing | UNCH | +$4 |
| Aggregate Change: | +635 | +$3,905 | |
In terms of shares owned, we count 6 of the above funds having increased existing SBUX positions from 09/30/2020 to 12/31/2020, 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 SBUX share count in the aggregate among all of the funds which held SBUX at the 12/31/2020 reporting period (out of the 817 we looked at in total). We then compared that number to the sum total of SBUX shares those same funds held back at the 09/30/2020 period, to see how the aggregate share count held by hedge funds has moved for SBUX. We found that between these two periods, funds reduced their holdings by 694,825 shares in the aggregate, from 21,750,681 down to 21,055,856 for a share count decline of approximately -3.19%. The overall top three funds holding SBUX on 12/31/2020 were:
| » | Fund | Shares of SBUX Held |
|---|---|---|
| 1. | New York State Teachers Retirement System | 1,582,925 |
| 2. | Loring Wolcott & Coolidge Fiduciary Advisors LLP MA | 1,380,673 |
| 3. | Riverbridge Partners LLC | 812,253 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding SBUX | » |
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 Starbucks Corp. (SBUX).
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