See Which Of The Latest 13F Filers Holds Exxon Mobil
Joel Kornblau - Friday, November 2, 9:37 AMAt Holdings Channel, we have reviewed the latest batch of the 21 most recent 13F filings for the 09/30/2018 reporting period, and noticed that Exxon Mobil Corp (XOM) was held by 15 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 XOM positions, for this latest batch of 13F filers:
|Fund||New Position?||Change In Share Count||Change In Market Value ($ in 1000's)|
|Synovus Financial Corp
|First Personal Financial Services
|Heathbridge Capital Management Ltd.
|Sterling Capital Management LLC
|Hartford Financial Management Inc.
|HMS Capital Management LLC
|Ashfield Capital Partners LLC
|Smart Money Group LLC
|WealthTrust Fairport LLC
|Boston Financial Mangement LLC
|New York State Teachers Retirement System
|Mn Services Vermogensbeheer B.V.
|Creative Financial Designs Inc. ADV
|Price Wealth Management Inc.
In terms of shares owned, we count 6 of the above funds having increased existing XOM positions from 06/30/2018 to 09/30/2018, with 7 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the XOM share count in the aggregate among all of the funds which held XOM at the 09/30/2018 reporting period (out of the 1,429 we looked at in total). We then compared that number to the sum total of XOM 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 XOM. We found that between these two periods, funds reduced their holdings by 6,020,564 shares in the aggregate, from 163,361,668 down to 157,341,104 for a share count decline of approximately -3.69%. The overall top three funds holding XOM 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 Exxon Mobil Corp (XOM).