Joel Kornblau - Tuesday, April 26, 12:37 PMAt Holdings Channel, we have reviewed the latest batch of the 21 most recent 13F filings for the 03/31/2022 reporting period, and noticed that Danaher Corp (DHR) was held by 11 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 DHR positions, for this latest batch of 13F filers:
Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
---|---|---|---|
PBMares Wealth Management LLC | Existing | +75 | -$12 |
Means Investment CO. Inc. | Existing | -106 | -$71 |
WestEnd Advisors LLC | Existing | +1 | $UNCH |
Strategic Financial Services Inc | Existing | +19 | -$19 |
Gouws Capital LLC | Existing | +780 | -$597 |
Norris Perne & French LLP MI | Existing | +139 | -$2,361 |
Harrington Investments INC | Existing | UNCH | -$31 |
Chartwell Investment Partners LLC | Existing | +300 | -$1,099 |
HWG Holdings LP | Existing | -1,488 | -$539 |
North Point Portfolio Managers Corp OH | Existing | -566 | -$3,493 |
Cherrydale Wealth Management LLC | Existing | -275 | -$118 |
Aggregate Change: | -1,121 | -$8,340 |
In terms of shares owned, we count 6 of the above funds having increased existing DHR positions from 12/31/2021 to 03/31/2022, with 4 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the DHR share count in the aggregate among all of the funds which held DHR at the 03/31/2022 reporting period (out of the 1,250 we looked at in total). We then compared that number to the sum total of DHR shares those same funds held back at the 12/31/2021 period, to see how the aggregate share count held by hedge funds has moved for DHR. We found that between these two periods, funds increased their holdings by 115,525 shares in the aggregate, from 13,894,042 up to 14,009,567 for a share count increase of approximately 0.83%. The overall top three funds holding DHR on 03/31/2022 were:
» | Fund | Shares of DHR Held |
---|---|---|
1. | Loring Wolcott & Coolidge Fiduciary Advisors LLP MA | 1,762,643 |
2. | Railway Pension Investments Ltd | 1,100,951 |
3. | Truist Financial Corp | 771,651 |
4-10 | Find out the full Top 10 Hedge Funds Holding DHR | » |
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 Danaher Corp (DHR).
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