At Holdings Channel, we have reviewed the latest batch of the 20 most recent 13F filings for the 03/31/2023 reporting period, and noticed that Thermo Fisher Scientific Inc (Symbol: TMO) was held by 11 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 TMO positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Wilson Asset Management International PTY Ltd. | Existing | UNCH | +$1,049 |
| BOK Financial Private Wealth Inc. | Existing | +346 | +$426 |
| GuoLine Advisory Pte Ltd | NEW | +90,000 | +$51,883 |
| Alesco Advisors LLC | Existing | +41 | +$35 |
| Accredited Investors Inc. | Existing | -4 | +$19 |
| Toth Financial Advisory Corp | NEW | +12 | +$7 |
| Fifth Third Bancorp | Existing | +2,335 | +$9,274 |
| AMF Tjanstepension AB | Existing | -23,965 | -$8,471 |
| DMC Group LLC | Existing | +118 | +$74 |
| SpiderRock Advisors LLC | Existing | UNCH | -$2 |
| Northstar Asset Management LLC | Existing | -715 | +$178 |
| Aggregate Change: | +68,168 | +$54,472 | |
In terms of shares owned, we count 4 of the above funds having increased existing TMO positions from 12/31/2022 to 03/31/2023, with 3 having decreased their positions and 2 new positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the TMO share count in the aggregate among all of the funds which held TMO at the 03/31/2023 reporting period (out of the 1,290 we looked at in total). We then compared that number to the sum total of TMO shares those same funds held back at the 12/31/2022 period, to see how the aggregate share count held by hedge funds has moved for TMO. We found that between these two periods, funds reduced their holdings by 49,465 shares in the aggregate, from 7,860,592 down to 7,811,127 for a share count decline of approximately -0.63%. The overall top three funds holding TMO on 03/31/2023 were:
| » | Fund | Shares of TMO Held |
|---|---|---|
| 1. | Nordea Investment Management AB | 682,051 |
| 2. | Raymond James & Associates | 438,761 |
| 3. | Assenagon Asset Management S.A. | 320,468 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding TMO | » |
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 Thermo Fisher Scientific Inc (Symbol: TMO).
10 S&P 500 Components Hedge Funds Are Buying »
Also see:
Highest Yielding BDCs
Institutional Holders of IMGN
K YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
