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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
KSCM
1
Key Square Capital Management
Connecticut
$35.1M -$929K -54,202 -2%
Morgan Stanley
2
Morgan Stanley
New York
$20.9M -$3.45M -201,347 -13%
RCM
3
Redwood Capital Management
New York
$19.9M – – –
NCM
4
Newfoundland Capital Management
Brazil
$15.7M +$4.27M +249,109 +33%
OCM
5
Oaktree Capital Management
California
$14.6M +$3.88M +226,500 +32%
BlackRock
6
BlackRock
New York
$11M -$679K -39,635 -5%
BCM
7
Bienville Capital Management
New York
$8.99M +$9.89M +577,516 New
JP Morgan Chase
8
JP Morgan Chase
New York
$8.94M -$1.65K -96 -0%
AllianceBernstein
9
AllianceBernstein
Tennessee
$7.12M – – –
CHCM
10
Columbus Hill Capital Management
New Jersey
$5.46M -$472K -27,546 -7%
LP
11
LMR Partners
United Kingdom
$4.79M – – –
HL
12
Harding Loevner
New Jersey
$4.38M -$744K -43,438 -13%
Millennium Management
13
Millennium Management
New York
$3.88M +$1.93M +112,380 +82%
Mirae Asset Global Investments
14
Mirae Asset Global Investments
South Korea
$3.6M -$3.8K -222 -0.1%
PPA
15
Parametric Portfolio Associates
Washington
$2.78M +$1.7M +99,222 +125%
FCH
16
Freestone Capital Holdings
Washington
$2.46M -$441K -25,750 -14%
QOP
17
Quinn Opportunity Partners
Virginia
$2.06M +$17.1K +1,000 +0.8%
Susquehanna International Group
18
Susquehanna International Group
Pennsylvania
$2.01M +$1.35M +78,975 +157%
Northern Trust
19
Northern Trust
Illinois
$1.56M +$110K +6,417 +7%
Deutsche Bank
20
Deutsche Bank
Germany
$1.54M +$375K +21,900 +28%
CL
21
CSS LLC
Illinois
$1.33M – – –
Legal & General Group
22
Legal & General Group
United Kingdom
$1.27M +$950K +55,438 +214%
EVM
23
Eaton Vance Management
Massachusetts
$1.25M +$326K +19,000 +31%
RAM
24
RWC Asset Management
United Kingdom
$1.17M +$507K +29,580 +65%
AC
25
AMS Capital
Brazil
$1.13M – – –
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.