See Which Of The Latest 13F Filers Holds Colgate-Palmolive
Joel Kornblau - Friday, November 9, 11:36 AMAt Holdings Channel, we have reviewed the latest batch of the 25 most recent 13F filings for the 09/30/2018 reporting period, and noticed that Colgate-Palmolive Co. (CL) was held by 13 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 CL positions, for this latest batch of 13F filers:
|Fund||New Position?||Change In Share Count||Change In Market Value ($ in 1000's)|
|Pinnacle Advisory Group Inc.
|Teacher Retirement System of Texas
|Plante Moran Financial Advisors LLC
|M&T Bank Corp
|Close Asset Management Ltd
|Hunter Associates Investment Management LLC
|Grimes & Company Inc.
|HighTower Advisors LLC
|Eagle Ridge Investment Management
|Benchmark Capital Advisors
|Nicholas Hoffman & Company LLC.
|Intrust Bank NA
In terms of shares owned, we count 1 of the above funds having increased existing CL positions from 06/30/2018 to 09/30/2018, with 8 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 CL share count in the aggregate among all of the funds which held CL at the 09/30/2018 reporting period (out of the 2,076 we looked at in total). We then compared that number to the sum total of CL shares those same funds held back at the 06/30/2018 period, to see how the aggregate share count held by hedge funds has moved for CL. We found that between these two periods, funds increased their holdings by 1,777,059 shares in the aggregate, from 130,086,235 up to 131,863,294 for a share count increase of approximately 1.37%. The overall top three funds holding CL on 09/30/2018 were:
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 Colgate-Palmolive Co. (CL).