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See Which Of The Latest 13F Filers Holds CSX Corp

By Market News Video Staff, Friday, May 14, 4:28 PM ET
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At Holdings Channel, we have reviewed the latest batch of the 38 most recent 13F filings for the 03/31/2021 reporting period, and noticed that CSX Corp (NASDAQ:CSX) 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 CSX positions, for this latest batch of 13F filers:

FundNew Position?Change In Share CountChange In Market Value ($ in 1000's)
HAP Trading LLC Existing -62,797-$52
UBS Oconnor LLC NEW +109,413+$10,550
Metropolitan Life Insurance Co NY Existing -98,010-$8,894
Proficio Capital Partners LLC NEW +2,128+$205
Baldwin Investment Management LLC Existing -100+$4
Dixon Hubard Feinour & Brown Inc. VA Existing +2,200+$341
Godsey & Gibb Associates NEW +544+$52
Peapack Gladstone Financial Corp Existing +8,960+$1,006
Marathon Capital Management Existing UNCH+$29
Nations Financial Group Inc. IA ADV Existing +787+$144
Bridgewater Associates LP Existing -148,215-$13,334
Aggregate Change: -185,090-$9,949

In terms of shares owned, we count 3 of the above funds having increased existing CSX positions from 12/31/2020 to 03/31/2021, with 4 having decreased their positions and 3 new positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the CSX share count in the aggregate among all of the funds which held CSX at the 03/31/2021 reporting period (out of the 3,655 we looked at in total). We then compared that number to the sum total of CSX shares those same funds held back at the 12/31/2020 period, to see how the aggregate share count held by hedge funds has moved for CSX. We found that between these two periods, funds reduced their holdings by 4,994,591 shares in the aggregate, from 189,899,247 down to 184,904,656 for a share count decline of approximately -2.63%. The overall top three funds holding CSX on 03/31/2021 were:

»FundShares of CSX Held
1.BlackRock Inc. 48,845,978
2.Geode Capital Management LLC 12,136,515
3.EdgePoint Investment Group Inc. 10,192,705
4-10Find out the full Top 10 Hedge Funds Holding CSX»

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 CSX Corp (NASDAQ:CSX).

This Article's Word Cloud:   Associates   Capital   Change   Corp   Existing   Financial   Funds   Group   Hedge   Investment   Management   across   aggregate   another   batch   bearish   because   between   count   disclose   filers   filing   filings   font   from   fund   funds   groups   having   hctblstyle   hedge   held   holding   latest   long   look   managers   only   period   positions   raquo   reporting   share   shares   stock   that   their   these   this   total
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