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Intuitive Surgical
ISRG

470 hedge funds and large institutions have $12.9B invested in Intuitive Surgical in 2013 Q3 according to their latest regulatory filings, with 58 funds opening new positions, 164 increasing their positions, 178 reducing their positions, and 88 closing their positions.

New
Increased
Maintained
Reduced
Closed

8% less repeat investments, than reductions

Existing positions increased: 164 | Existing positions reduced: 178

7% less funds holding

Funds holding: 505 → 470 (-35)

31% less capital invested

Capital invested by funds: $18.6B → $12.9B (-$5.74B)

33% less call options, than puts

Call options by funds: $564M | Put options by funds: $842M

34% less first-time investments, than exits

New positions opened: 58 | Existing positions closed: 88

38% less funds holding in top 10

Funds holding in top 10: 13 → 8 (-5)

Holders
470
Holders Change
-35
Holders Change %
-6.93%
% of All Funds
15.24%
Holding in Top 10
8
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-38.46%
% of All Funds
0.26%
New
58
Increased
164
Reduced
178
Closed
88
Calls
$564M
Puts
$842M
Net Calls
-$278M
Net Calls Change
+$27.2M

Top Buyers

1
Bank of New York Mellon
Bank of New York Mellon
New York
+$446M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$324M
3
Morgan Stanley
Morgan Stanley
New York
+$302M
4
Brown Advisory
Brown Advisory
Maryland
+$163M
5
Sands Capital Management
Sands Capital Management
Virginia
+$154M

Top Sellers

1
Capital World Investors
Capital World Investors
California
-$838M
2
Viking Global Investors
Viking Global Investors
Connecticut
-$596M
3
LPC
Lone Pine Capital
Connecticut
-$588M
4
Jennison Associates
Jennison Associates
New York
-$501M
5
Winslow Capital Management
Winslow Capital Management
Minnesota
-$402M
Name Holding Trade Value Shares
Change 		Change in
Stake
VRS
501
Virginia Retirement Systems
Virginia
– -$638K -11,349 Closed
CCM
502
Carderock Capital Management
Maryland
– -$511K -9,081 Closed
CBU
503
CIBC Bank USA
Illinois
– -$510K -9,054 Closed
BA
504
Birinyi Associates
Connecticut
– -$468K -8,325 Closed
ZCM
505
Ziegler Capital Management
Illinois
– -$455K -8,091 Closed
BHA
506
Beech Hill Advisors
New York
– -$441K -7,848 Closed
FNBOH
507
First National Bank of Hutchinson
Kansas
– -$441K -7,848 Closed
OA
508
Outfitter Advisors
Virginia
– -$423K -7,515 Closed
RT
509
Reliance Trust
Georgia
– -$422K -7,515 Closed
CAM
510
Congress Asset Management
Massachusetts
– -$407K -7,245 Closed
WP
511
WMS Partners
Maryland
– -$397K -7,056 Closed
PCM
512
Parsons Capital Management
Rhode Island
– -$356K -6,345 Closed
EB
513
Eastern Bank
Massachusetts
– -$354K -6,300 Closed
B
514
Barings
North Carolina
– -$348K -6,174 Closed
ROTUOC
515
Regents of the University of California
California
– -$333K -5,922 Closed
GF
516
Gerstein Fisher
New York
– -$330K -5,859 Closed
BOH
517
Bank of Hawaii
Hawaii
– -$329K -5,850 Closed
MCM
518
Maryland Capital Management
Maryland
– -$310K -5,508 Closed
GVT
519
Genesee Valley Trust
New York
– -$308K -5,481 Closed
CA
520
Cetera Advisors
Colorado
– -$300K -5,328 Closed
ACP
521
Ashfield Capital Partners
California
– -$298K -5,292 Closed
Verition Fund Management
522
Verition Fund Management
Connecticut
– -$294K -5,229 Closed
BMCMI
523
Bryn Mawr Capital Management Inc
Pennsylvania
– -$288K -5,130 Closed
SFS
524
Signator Financial Services
Massachusetts
– -$280K -4,986 Closed
RHBC
525
R.H. Bluestein & Co
Michigan
– -$253K -4,500 Closed
19 20
21
22 23

ISRG Hedge Fund Activity: Q3 2013 in Review

470 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Intuitive Surgical (ISRG) for Q3 2013, worth a combined $12.9B — down 31% from $18.6B a quarter earlier.

Sellers outnumbered buyers: 88 funds closed out of ISRG and 58 opened new positions — a net loss of 30 holders — while 178 trimmed existing stakes and 164 added.

The largest buyer was Bank of New York Mellon, adding an estimated $446M. The largest seller was Capital World Investors, cutting an estimated $838M.

  • 470 institutional investors held Intuitive Surgical (ISRG) as of Q3 2013, down from 505 in Q2 2013.
  • Funds reported $12.9B of Intuitive Surgical stock for Q3 2013, down 31% quarter-over-quarter.
  • 58 funds opened new Intuitive Surgical positions in Q3 2013 and 88 closed out, a net change of -30 holders.
  • The largest Intuitive Surgical buyer in Q3 2013 was Bank of New York Mellon, an estimated $446M added.
  • The largest Intuitive Surgical seller in Q3 2013 was Capital World Investors, an estimated $838M sold.

Based on aggregated 13F filings for Q3 2013.