13F

13-F Summary: Who Bought And Sold What In The Fourth Quarter

Yesterday's barrage of 13F releases showed that hedge funds like Third Point, Eton Park and Blue Ridge piled into shares of major banks, David Tepper's Appaloosa jumped into the pharma sector starting new positions in Teva, Pfizer and Mylan while Buffett aggressively added to airline steaks and nearly quadrupled his Apple position to $7.7 billion. Here is a full breakdown of who bought what in the fourth quarter.

These Are The Top 50 Hedge Fund Long And Short Positions

"The average hedge fund has returned +4% YTD, lagging the S&P 500 (+9%) for the eighth year in a row. The latest hedge fund and mutual fund  filings highlight Info Tech stocks as particularly vulnerable in terms of positioning"

Paul Tudor Jones Emerges As Latest Mega Bear With Record Surge In S&P Puts

It appears that Paul Tudor Jones is even more bearish than George Soros, based on the surge in the fund's S&P puts, which rose from $490 million notional to $1.7 billion notional, a nearly four-fold increase, and making it the biggest such position in the fund's history. In fact, as of this moment, PTJ's gross put exposure amounts to 37% of his entire disclosed long equity exposure of just over $4.7 billion.

Soros' S&P Puts Soar Near Record High As Percentage Of AUM

Soros bearish turn was reported over two months ago, when the WSJ reported that the recently hacked billionaire had returned to active investing at his Soros Fund Management with "Big, bearish" bets on economic turmoil. Yesterday, in his latest 13F we got confirmation of just that when the hedge fund revealed that it had doubled the amount of its SPDR Puts to 4 million, or a notional equivalent of $839 million as of June 30, up from $431 million as of Q1.

David Tepper Is "On Guard" As "Central Banks Are Starting To Distort Stock Markets"

David Tepper is now "on guard", according to CNBC's Kate Kelly, who reports that the Appalloosa billionaire suggest investors "should put some money in cash rather than going too short, the source added." However, his concern is that "central bank stimulus, which has distorted bond markets around the world already, may be starting to affect stock markets as well."

What The Biggest Hedge Funds Did In Q1: The Full 13-F Summary

While far less attention is being paid to hedge fund 13F filings, which show a stale representation of equity long stakes among the hedge fund community as of 45 days prior, than in years gone by as a result of increasingly poor performance by the 2 and 20 crowd, they still remain closely watched source of investment ideas but mostly to find out what the new cluster ideas and hedge fund hotel stocks are at any given moment. Here are the highlights from the latest round of 13F filings.

Frontrunning: May 17

  • As Brexit vote looms, U.S. banks review their European commitments (Reuters)
  • Oil’s Strength Continues to Boost Global Stocks (WSJ)
  • Trump closing gap with Clinton, poll shows (Hill)
  • In Adjacent Pennsylvania Counties, Republicans Are Split on Donald Trump (WSJ)
  • Make America Gold Again: Calls for Everyone's Favorite Standard Are Back (BBG)

Soros Makes Gold His Largest Holding As He Cuts Equity Exposure To Lowest Since 2013, Doubles S&P Puts

One of the more closely watched 13F reports yesterday in addition to that of Warren Buffett was that of Soros Fund Management, the family office of George Soros, which revealed that while the 85 year old billionaire was not quite as bearish as his former chief strategist Stanley Druckenmiller, or Carl Icahn for that matter, had turned decidedly sour on overall equity exposure.

Futures Fizzle After Oil Fades Bounce Above $48

It has been more of the same overnight, as global stocks piggybacked on the strong US close and rose despite the lack of good (or bad) macro news, propelled higher by the two usual suspects: a higher USDJPY and a even higher oil, if mostly early on in the trading session.