At Holdings Channel, we have reviewed the latest batch of the 133 most recent 13F filings for the 12/31/2021 reporting period, and noticed that Uber Technologies Inc (Symbol: UBER) was held by 25 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 UBER positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Flight Deck Capital LP | NEW | +489,283 | +$20,516 |
| Audent Global Asset Management LLC | NEW | +16,768 | +$703 |
| Old Well Partners LLC | Existing | +13,000 | +$167 |
| Crawford Lake Capital Management LLC | NEW | +50,662 | +$2,124 |
| Viking Global Investors LP | Existing | +4,192,950 | +$157,465 |
| MBB Public Markets I LLC | NEW | +9,868 | +$414 |
| Kayak Investment Partners LLC | Existing | -32,144 | -$2,408 |
| Worldquant Millennium Advisors LLC | Existing | +360,732 | +$13,607 |
| Janus Henderson Group PLC | Existing | +1,111,844 | +$8,449 |
| Delphia USA Inc. | NEW | +8,422 | +$353 |
| Corton Capital Inc. | NEW | +17,894 | +$750 |
| Hhlr Advisors LTD. | Existing | UNCH | -$3,197 |
| Claar Advisors LLC | Existing | +43,000 | +$1,384 |
| Coronation Fund Managers Ltd. | Existing | +28,915 | +$953 |
| Long Focus Capital Management LLC | NEW | +30,000 | +$1,258 |
| Zurich Insurance Group Ltd FI | Existing | +448,150 | +$16,391 |
| Atreides Management LP | Existing | -4,842,056 | -$226,767 |
| Point72 Hong Kong Ltd | Existing | -95,492 | -$4,509 |
| Point72 Asset Management L.P. | Existing | -6,596,060 | -$311,330 |
| Guggenheim Capital LLC | Existing | +658 | -$186 |
| Commerce Bank | Existing | -25,492 | -$4,382 |
| Tiger Legatus Capital Management LLC | Existing | -19,000 | -$1,336 |
| Eaton Vance Management | Existing | -13,883 | -$13,749 |
| Mission Creek Capital Partners Inc. | Existing | +72 | -$66 |
| Wahed Invest LLC | NEW | +19,761 | +$829 |
| Aggregate Change: | -4,782,148 | -$342,567 | |
In terms of shares owned, we count 9 of the above funds having increased existing UBER positions from 09/30/2021 to 12/31/2021, with 7 having decreased their positions and 8 new positions. Worth noting is that Newbrook Capital Advisors LP, and Bronson Point Management LLC, included in this recent batch of 13F filers, exited UBER common stock as of 12/31/2021.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the UBER share count in the aggregate among all of the funds which held UBER at the 12/31/2021 reporting period (out of the 4,197 we looked at in total). We then compared that number to the sum total of UBER shares those same funds held back at the 09/30/2021 period, to see how the aggregate share count held by hedge funds has moved for UBER. We found that between these two periods, funds increased their holdings by 25,064,281 shares in the aggregate, from 429,161,833 up to 454,226,114 for a share count increase of approximately 5.84%. The overall top three funds holding UBER on 12/31/2021 were:
| » | Fund | Shares of UBER Held |
|---|---|---|
| 1. | BlackRock Inc. | 67,539,246 |
| 2. | Jennison Associates LLC | 49,538,244 |
| 3. | Wellington Management Group LLP | 23,275,280 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding UBER | » |
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 Uber Technologies Inc (Symbol: UBER).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
