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Phillips 66
PSX

1,018 hedge funds and large institutions have $30.8B invested in Phillips 66 in 2014 Q1 according to their latest regulatory filings, with 88 funds opening new positions, 308 increasing their positions, 451 reducing their positions, and 61 closing their positions.

New
Increased
Maintained
Reduced
Closed

44% more first-time investments, than exits

New positions opened: 88 | Existing positions closed: 61

11% more call options, than puts

Call options by funds: $730M | Put options by funds: $660M

2% more funds holding

Funds holding: 1,001 → 1,018 (+17)

4% less capital invested

Capital invested by funds: $32.2B → $30.8B (-$1.45B)

1.76% less ownership

Funds ownership: 69.78% → 68.02% (-1.8%)

24% less funds holding in top 10

Funds holding in top 10: 25 → 19 (-6)

32% less repeat investments, than reductions

Existing positions increased: 308 | Existing positions reduced: 451

Holders
1,018
Holders Change
+17
Holders Change %
+1.7%
% of All Funds
29.4%
Holding in Top 10
19
Holding in Top 10 Change
-6
Holding in Top 10 Change %
-24%
% of All Funds
0.55%
New
88
Increased
308
Reduced
451
Closed
61
Calls
$730M
Puts
$660M
Net Calls
+$70.2M
Net Calls Change
-$32.8M

Top Buyers

1
Fidelity Investments
Fidelity Investments
Massachusetts
+$218M
2
Capital World Investors
Capital World Investors
California
+$208M
3
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$186M
4
Deutsche Bank
Deutsche Bank
Germany
+$115M
5
Morgan Stanley
Morgan Stanley
New York
+$97.1M

Top Sellers

1
Berkshire Hathaway
Berkshire Hathaway
Nebraska
-$1.33B
2
Wellington Management Group
Wellington Management Group
Massachusetts
-$313M
3
Barrow, Hanley, Mewhinney & Strauss
Barrow, Hanley, Mewhinney & Strauss
Texas
-$268M
4
JP Morgan Chase
JP Morgan Chase
New York
-$197M
5
Invesco
Invesco
Georgia
-$89.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
VIA
1001
Vantage Investment Advisors
Pennsylvania
$8K – – –
QAM
1002
QCI Asset Management
New York
$8K +$7.61K +100 New
NCM
1003
Nelson Capital Management
California
$7K – – –
CIM
1004
Contravisory Investment Management
Massachusetts
$6K +$6.24K +82 New
HF
1005
Hoxton Financial
West Virginia
$5K -$28.6K -375 -85%
LWM
1006
Lenox Wealth Management
Ohio
$5K – – –
SFPIA
1007
Stevens First Principles Investment Advisors
California
$4K – – –
FAM
1008
Fred Alger Management
New York
$3K – – –
HCM
1009
Horrell Capital Management
Arkansas
$3K – – –
TDC
1010
Thompson Davis & Co
Virginia
$2K – – –
IFA
1011
Interactive Financial Advisors
Illinois
$2K +$2.06K +27 New
WAS
1012
Winch Advisory Services
Wisconsin
$2K +$2.06K +27 New
PFA
1013
Paradigm Financial Advisors
Missouri
$1K – – –
TIM
1014
Tortoise Investment Management
New York
$1K – – –
Lazard Asset Management
1015
Lazard Asset Management
New York
$1K +$1.14K +15 New
TT
1016
Tiedemann Trust
Delaware
$393 – – –
SCP
1017
Syntal Capital Partners
Texas
$58 +$57.3K +753 New
SPC
1018
Slate Path Capital
New York
– -$79.1M -1,025,000 Closed
ZE
1019
ZBI Equities
New York
– -$65.9M -853,900 Closed
VNIM
1020
Vaughan Nelson Investment Management
Texas
– -$44.2M -573,540 Closed
BPM
1021
Bronson Point Management
Connecticut
– -$34.7M -450,000 Closed
BC
1022
Brinker Capital
Pennsylvania
– -$31.2M -404,177 Closed
SAM
1023
Sandell Asset Management
New York
– -$16.2M -209,685 Closed
FPP
1024
Findlay Park Partners
United Kingdom
– -$15.5M -201,080 Closed
JCM
1025
Jasinkiewicz Capital Management
New Jersey
– -$8.76M -113,513 Closed
39 40
41
42 43

PSX Hedge Fund Activity: Q1 2014 in Review

1,018 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Phillips 66 (PSX) for Q1 2014, worth a combined $30.8B — down 4.5% from $32.2B a quarter earlier.

Buyers outnumbered sellers: 88 funds opened new PSX positions and 61 closed out — a net gain of 27 holders — while 308 added to existing stakes and 451 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $218M. The largest seller was Berkshire Hathaway, cutting an estimated $1.33B.

  • 1,018 institutional investors held Phillips 66 (PSX) as of Q1 2014, up from 1,001 in Q4 2013.
  • Funds reported $30.8B of Phillips 66 stock for Q1 2014, down 4.5% quarter-over-quarter.
  • 88 funds opened new Phillips 66 positions in Q1 2014 and 61 closed out, a net change of +27 holders.
  • The largest Phillips 66 buyer in Q1 2014 was Fidelity Investments, an estimated $218M added.
  • The largest Phillips 66 seller in Q1 2014 was Berkshire Hathaway, an estimated $1.33B sold.

Based on aggregated 13F filings for Q1 2014.