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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
Barclays
51
Barclays
United Kingdom
$50K -$27.6K -1,610 -34%
PNC Financial Services Group
52
PNC Financial Services Group
Pennsylvania
$29K – – –
EARNEST Partners
53
EARNEST Partners
Georgia
$24K – – –
Bank of America
54
Bank of America
North Carolina
$21K -$40.8K -2,381 -64%
NFG
55
Next Financial Group
Texas
$16K +$17.1K +1,000 New
AG
56
Advisor Group
Arizona
$14K -$685 -40 -4%
FCA
57
FinTrust Capital Advisors
South Carolina
$5K +$6K +350 New
Schroder Investment Management Group
58
Schroder Investment Management Group
United Kingdom
$4.71K – – –
Northwestern Mutual Wealth Management
59
Northwestern Mutual Wealth Management
Wisconsin
$1K – – –
GT
60
Glenmede Trust
Pennsylvania
$39 +$43K +2,511 New
Fidelity Investments
61
Fidelity Investments
Massachusetts
– -$17.5M -1,001,934 Closed
CWM
62
Cornerstone Wealth Management
Missouri
– -$6.17M -193,802 Closed
Franklin Resources
63
Franklin Resources
California
– -$2.02M -116,100 Closed
SGDR
64
SPX Gestao de Recursos
Brazil
– -$1.11M -62,702 Closed
BAM
65
Belpointe Asset Management
Nevada
– -$715K -41,066 Closed
AA
66
ALPS Advisors
Colorado
– -$700K -40,200 Closed
Citadel Advisors
67
Citadel Advisors
Florida
– -$291K -17,013 Closed
UFF
68
USA Financial Formulas
Michigan
– -$283K -15,940 Closed
Jane Street
69
Jane Street
New York
– -$270K -15,481 Closed
AGM
70
Alpine Global Management
New York
– -$192K -10,997 Closed
CI
71
Cowen Inc
New York
– -$182K -10,448 Closed
S
72
SignatureFD
Georgia
– -$19K -1,114 Closed
Bank of Montreal
73
Bank of Montreal
Ontario, Canada
– -$8K -461 Closed
Group One Trading
74
Group One Trading
Illinois
– -$5K -300 Closed
SA
75
SRH Advisors
Kansas
– -$1K -76 Closed
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.