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Boeing Held By Latest 13F Filers

At Holdings Channel, we have reviewed the latest batch of the 20 most recent 13-F filings for the 06/30/2014 reporting period, and noticed that Boeing Co. (BA) was held by 10 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.

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Before we proceed, it is important to point out that 13-F 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 13-F 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 13-F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in BA positions, for this latest batch of 13-F filers:

Fund New Position? Change In Share Count Change In Market Value ($ in 1000's)
Louisiana State Employees Retirement System Existing -1,500 -$97
Bank of The West Existing -25 $UNCH
Redwood Investments LLC NEW +140,472 +$17,872
E&G Advisors LP Existing +180 +$48
Chickasaw Capital Management LLC Existing -390 +$5
Cambridge Financial Group Inc. Existing +20,874 +$1,232
AGF Investments Inc. Existing +4,668 +$1,747
Texan Capital Management Existing -250 -$8
Beach Investment Management LLC. Existing -5,510 -$678
Crawford Investment Counsel Inc. Existing +2,895 +$374
Aggregate Change: +161,414 +$20,495

In terms of shares owned, we count 4 of the above funds having increased existing BA positions from 03/31/2014 to 06/30/2014, with 5 having decreased their positions and 1 new position. Worth noting is that Interactive Financial Advisors, included in this recent batch of 13-F filers, exited BA common stock as of 06/30/2014.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the BA share count in the aggregate among all of the funds which held BA at the 06/30/2014 reporting period (out of the 850 we looked at in total). We then compared that number to the sum total of BA shares those same funds held back at the 03/31/2014 period, to see how the aggregate share count held by hedge funds has moved for BA. We found that between these two periods, funds reduced their holdings by 1,022,299 shares in the aggregate, from 64,504,200 down to 63,481,901 for a share count decline of approximately -1.58%. The overall top three funds holding BA on 06/30/2014 were:

Fund Shares of BA Held
1. Evercore Trust Company N.A. 49,647,088
2. Atalanta Sosnoff Capital LLC 1,198,115
3. Strs Ohio 715,702
4-10 Find out the full Top 10 Hedge Funds Holding BA

We'll keep following the latest 13-F 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 13-F 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 Boeing Co. (BA).

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