Latest 13-F Filers Hold General Motors

At Holdings Channel, we have reviewed the latest batch of the 48 most recent 13F filings for the 06/30/2014 reporting period, and noticed that General Motors Co. ( GM) was held by 20 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 GM positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value ($ in 1000's)
Estabrook Capital Management Existing UNCH +$1
Apriem Advisors Existing +8 $UNCH
Apriem Advisors Existing +8 $UNCH
Apriem Advisors Existing +8 $UNCH
Wharton Business Group LLC Existing +47,940 +$1,899
Highlander Capital Management LLC Existing -1,400 -$47
Highlander Capital Management LLC Existing -1,400 -$47
Highlander Capital Management LLC Existing -1,400 -$47
Dubuque Bank & Trust Co. Existing +365 +$415
Credit Suisse AG Existing +1,730,051 +$70,338
Cordasco Financial Network Existing UNCH $UNCH
Cordasco Financial Network Existing UNCH $UNCH
Cordasco Financial Network Existing UNCH $UNCH
Olstein Capital Management L.P. Existing +8,000 +$657
Teachers Insurance & Annuity Association of America Existing UNCH +$23
First Trust Advisors LP Existing +139,349 +$7,706
Thornburg Investment Management Inc. Existing +508,604 +$19,327
Amida Capital Management II LLC Existing +16,711 +$11,062
Thornburg Investment Management Inc. Existing +508,604 +$19,327
TCI Wealth Advisors Inc. Existing +228 +$27
Aggregate Change: +2,955,676 +$130,641

In terms of shares owned, we count 12 of the above funds having increased existing GM positions from 03/31/2014 to 06/30/2014, with 3 having decreased their positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the GM share count in the aggregate among all of the funds which held GM at the 06/30/2014 reporting period (out of the 1,660 we looked at in total). We then compared that number to the sum total of GM 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 GM. We found that between these two periods, funds increased their holdings by 14,946,924 shares in the aggregate, from 187,131,910 up to 202,078,834 for a share count increase of approximately 7.99%. The overall top three funds holding GM on 06/30/2014 were:

Fund Shares of GM Held
1. BlackRock Institutional Trust Company N.A. 37,612,044
2. BlackRock Fund Advisors 12,914,763
3. Neuberger Berman Group LLC 10,045,966
4-10 Find out the full Top 10 Hedge Funds Holding GM

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 General Motors Co. ( GM).

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