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Telecom Argentina
TEO

62 hedge funds and large institutions have $194M invested in Telecom Argentina in 2018 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 16 increasing their positions, 21 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

33% more funds holding in top 10

Funds holding in top 10: 3 → 4 (+1)

32% more call options, than puts

Call options by funds: $2.46M | Put options by funds: $1.87M

0.06% less ownership

Funds ownership: 2.05% → 1.99% (-0.06%)

10% less funds holding

Funds holding: 69 → 62 (-7)

17% less capital invested

Capital invested by funds: $233M → $194M (-$38.9M)

24% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 21

40% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 15

Holders
62
Holders Change
-7
Holders Change %
-10.14%
% of All Funds
1.38%
Holding in Top 10
4
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+33.33%
% of All Funds
0.09%
New
9
Increased
16
Reduced
21
Closed
15
Calls
$2.46M
Puts
$1.87M
Net Calls
+$595K
Net Calls Change
+$4.13M

Top Buyers

1
BCM
Bienville Capital Management
New York
+$9.89M
2
NCM
Newfoundland Capital Management
Brazil
+$4.27M
3
OCM
Oaktree Capital Management
California
+$3.88M
4
Millennium Management
Millennium Management
New York
+$1.93M
5
PPA
Parametric Portfolio Associates
Washington
+$1.7M

Top Sellers

1
Fidelity Investments
Fidelity Investments
Massachusetts
-$17.5M
2
CWM
Cornerstone Wealth Management
Missouri
-$6.17M
3
Morgan Stanley
Morgan Stanley
New York
-$3.45M
4
Franklin Resources
Franklin Resources
California
-$2.02M
5
SGDR
SPX Gestao de Recursos
Brazil
-$1.11M
Name Holding Trade Value Shares
Change 		Change in
Stake
CS
26
Credit Suisse
Switzerland
$858K +$371K +21,651 +65%
Goldman Sachs
27
Goldman Sachs
New York
$810K -$52.3K -3,051 -6%
GF
28
Gabelli Funds
New York
$809K – – –
DI
29
DUMAC Inc
North Carolina
$751K -$52.8K -3,084 -6%
LSV Asset Management
30
LSV Asset Management
Illinois
$745K – – –
Nordea Investment Management
31
Nordea Investment Management
Sweden
$737K +$116K +6,796 +17%
CGI
32
Comgest Global Investors
France
$657K – – –
AIA
33
Avalon Investment & Advisory
Texas
$650K -$253K -14,760 -26%
Renaissance Technologies
34
Renaissance Technologies
New York
$596K +$61.5K +3,591 +10%
BNP Paribas Financial Markets
35
BNP Paribas Financial Markets
France
$579K +$369K +21,529 +137%
DAM
36
Deltec Asset Management
New York
$482K -$188K -11,000 -26%
Invesco
37
Invesco
Georgia
$469K -$8.91K -520 -2%
Wells Fargo
38
Wells Fargo
California
$458K -$126K -7,369 -20%
Squarepoint
39
Squarepoint
New York
$341K +$375K +21,899 New
BNP Paribas Asset Management
40
BNP Paribas Asset Management
France
$336K -$24K -1,400 -6%
Citigroup
41
Citigroup
New York
$284K -$108K -6,302 -26%
ZIG
42
Zurich Insurance Group
Switzerland
$221K +$237K +13,851 New
WCM
43
Weld Capital Management
New York
$209K +$231K +13,457 New
Walleye Trading
44
Walleye Trading
New York
$187K +$206K +12,028 New
JGUA
45
John G. Ullman & Associates
New York
$179K – – –
Simplex Trading
46
Simplex Trading
Illinois
$171K -$1.1M -64,460 -85%
Fisher Asset Management
47
Fisher Asset Management
Washington
$161K -$1.8K -105 -1%
NIPH
48
NN Investment Partners Holdings
Netherlands
$114K – – –
UBS Group
49
UBS Group
Switzerland
$106K +$78.6K +4,588 +202%
ED
50
Exane Derivatives
France
$66.9K – – –
1
2
3 4

TEO Hedge Fund Activity: Q4 2018 in Review

62 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Telecom Argentina (TEO) for Q4 2018, worth a combined $194M — down 17% from $233M a quarter earlier.

Sellers outnumbered buyers: 15 funds closed out of TEO and 9 opened new positions — a net loss of 6 holders — while 21 trimmed existing stakes and 16 added.

The largest buyer was Bienville Capital Management, opening a new position worth an estimated $9.89M. The largest seller was Fidelity Investments, exiting entirely with an estimated $17.5M sold.

  • 62 institutional investors held Telecom Argentina (TEO) as of Q4 2018, down from 69 in Q3 2018.
  • Funds reported $194M of Telecom Argentina stock for Q4 2018, down 17% quarter-over-quarter.
  • 9 funds opened new Telecom Argentina positions in Q4 2018 and 15 closed out, a net change of -6 holders.
  • The largest Telecom Argentina buyer in Q4 2018 was Bienville Capital Management, an estimated $9.89M added.
  • The largest Telecom Argentina seller in Q4 2018 was Fidelity Investments, an estimated $17.5M sold.

Based on aggregated 13F filings for Q4 2018.