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Pfizer Popular Amongst Latest 13F Filers

At Holdings Channel, we have reviewed the latest batch of the 29 most recent 13F filings for the 06/30/2014 reporting period, and noticed that Pfizer Inc (PFE) was held by 16 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 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 PFE positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value ($ in 1000's)
Pekin Singer Strauss Asset Management IL Existing +21,390 +$577
Concept Capital Markets LLC Existing -40 -$553
Jennison Associates LLC Existing -310,451 -$18,824
WCM Investment Management CA Existing +125 -$14
Baldwin Brothers Inc. MA Existing -200 -$44
Oarsman Capital Inc. Existing +3,280 -$24
National Independent Trust Co. Existing -2,609 -$518
Washington Trust Bank Existing +5,000 -$6
Oppenheimer Funds Inc. Existing -4,121,629 -$177,426
ICC Capital Management Inc. Existing -173,873 -$7,075
Buckhead Capital Management LLC Existing -28,696 -$2,036
American Independence Financial Services LLC NEW +92,898 +$2,757
GSA Capital Partners LLP NEW +148,624 +$4,411
Marathon Capital Management Existing -8,299 -$303
Cannell Peter B & Co. Inc. Existing -6,500 -$946
DekaBank Deutsche Girozentrale Existing +99,171 -$2,764
Aggregate Change: -4,281,809 -$202,788

In terms of shares owned, we count 5 of the above funds having increased existing PFE positions from 03/31/2014 to 06/30/2014, with 9 having decreased their positions and 2 new positions.

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