Medtronic Popular Amongst Latest 13F Filers

At Holdings Channel, we have reviewed the latest batch of the 45 most recent 13F filings for the 06/30/2014 reporting period, and noticed that Medtronic, Inc. (MDT) was held by 19 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.

START SLIDESHOW:
10 S&P 500 Components Hedge Funds Are Buying »

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 MDT positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value ($ in 1000's)
Northeast Investment Management Existing +2,623 +$176
Artisan Partners Limited Partnership Existing +162,442 +$25,599
First Niagara Bank Existing -1,085 -$20
Mark Sheptoff Financial Planning LLC Existing UNCH +$17
Bowen Hanes & Co. Inc. Existing -9,000 -$40
Aviva PLC Existing +9,190 +$1,719
Grantham Mayo Van Otterloo & Co. LLC Existing -1,532,333 -$82,049
Atlantic Trust Group LLC Existing +438,466 +$28,097
Ivory Investment MANAGEMENT. L.P. NEW +537,788 +$34,289
Fjarde AP Fonden Fourth Swedish National Pension Fund Existing -13,582 -$229
Water Island Capital LLC NEW -46 +$11,416
Glenmede Trust Co. NA Existing +101,602 +$7,530
Semper Augustus Investments Group LLC Existing UNCH +$11
Legal & General Group Plc Existing +27,963 +$11,585
Gould Asset Management LLC CA Existing UNCH +$28
Loews Corp NEW +3,750 +$239
Bow Street LLC NEW +365,000 +$23,272
Sit Investment Associates Inc. Existing +390,385 +$26,247
Bank of Nova Scotia Existing +830 +$86
Aggregate Change: +483,993 +$87,973

In terms of shares owned, we count 8 of the above funds having increased existing MDT positions from 03/31/2014 to 06/30/2014, with 4 having decreased their positions and 4 new positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the MDT share count in the aggregate among all of the funds which held MDT at the 06/30/2014 reporting period (out of the 2,100 we looked at in total). We then compared that number to the sum total of MDT 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 MDT. We found that between these two periods, funds increased their holdings by 17,444,143 shares in the aggregate, from 410,324,490 up to 427,768,633 for a share count increase of approximately 4.25%. The overall top three funds holding MDT on 06/30/2014 were:

Fund Shares of MDT Held
1. Vanguard Group Inc. 56,528,124
2. Franklin Resources Inc. 45,695,580
3. State Street Corp 43,966,979
4-10 Find out the full Top 10 Hedge Funds Holding MDT

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 Medtronic, Inc. ( MDT).

More from Stocks

Coke's a Better Stock to Buy Than Pepsi on Surprising North America Sales
Amazon Crushes Quarterly Earnings Estimates, Raises the Price of Prime

Amazon Crushes Quarterly Earnings Estimates, Raises the Price of Prime

Barbie Flexes Her Muscle in Mattel's Q1 Earnings

Barbie Flexes Her Muscle in Mattel's Q1 Earnings

Amazon Crushes First-Quarter Profit Estimates -- Watch TheStreet's Live Analysis

Amazon Crushes First-Quarter Profit Estimates -- Watch TheStreet's Live Analysis

Dow Jumps 238 Points as S&P 500, Nasdaq Also Climb

Dow Jumps 238 Points as S&P 500, Nasdaq Also Climb