Data sourced from Q1 2019 SEC 13F regulatory filings as reported by stocksbeat.com. All figures reflect end-of-quarter positions unless otherwise noted. This article is a factual summary of institutional position changes and does not constitute investment advice.
Parallax Volatility Advisers LP Significantly Expands VMware Position
Parallax Volatility Advisers LP increased its stake in VMware, Inc. (NYSE: VMW) by 525.2% in Q1 2019, according to the firm’s latest regulatory filing with the SEC. The firm purchased 5,252 additional shares during the quarter, bringing its total holding to 6,252 shares valued at approximately $1.13 million, up from just 1,000 shares at the end of the previous reported quarter.
Parallax Volatility Advisers manages approximately $4.50 billion in assets and oversees an $87.76 billion US long portfolio. In addition to building its VMware position, the firm reduced its stake in Marathon Petroleum Corp (NYSE: MPC) by 468,699 shares to 26,801 shares (valued at $1.60 million), trimmed its Metlife Inc (NYSE: MET) holding by 82,338 shares, and cut its position in Dominion Energy Inc (NYSE: D).
VMware Investor Sentiment and Share Performance
Investor sentiment toward VMware increased to 1.3 in Q1 2019, up from 1.02 in Q4 2018. During the quarter, 78 funds opened new positions and 135 raised existing stakes, while 130 reduced their holdings and 34 sold out entirely. Total reported institutional holdings stood at approximately 70.43 million shares.
Notable institutional holders of VMware as of Q1 2019 included Natixis (289,699 shares), Element Capital Management (16,097 shares), Nuveen Asset Management (0.21% of portfolio), and Banque Pictet and Cie SA (0.14% of portfolio), among others.
On the insider activity front, since January 8, 2019, VMware recorded no insider purchases but three selling transactions totaling $12.21 million in activity. Executive Patrick P. Gelsinger sold $4.42 million worth of VMware shares on January 11, 2019, while Sanjay Poonen sold $2.39 million worth on January 8, 2019.
Pointstate Capital LP Reduces General Motors Exposure
Pointstate Capital LP decreased its stake in General Motors Company (NYSE: GM) by 9.13% in Q1 2019, selling 94,976 shares according to its latest SEC filing. The hedge fund held 945,724 shares of the automaker at the end of the quarter, valued at approximately $35.09 million, down from roughly 1.04 million shares at the end of the prior reported quarter.
The reduction came as GM’s stock declined 4.18% during the quarter even as broader stock markets rallied. Pointstate Capital manages approximately $10.76 billion overall and $5.07 billion in its US long portfolio.
Despite trimming GM, Pointstate Capital added to other positions during the same period. The firm increased its stake in Dollar Tree Inc (NASDAQ: DLTR) by 148,074 shares to a total of 1.18 million shares (valued at $123.79 million), expanded its Centene Corp (NYSE: CNC) holding by 349,488 shares to 379,188 shares, and raised its position in Netflix Inc (NASDAQ: NFLX).
GM Earnings Outlook (as of June 2019)
At the time of the original filing, analysts were anticipating General Motors to report Q2 2019 earnings on approximately July 24, 2019. The consensus estimate was for earnings per share of $1.44, representing a decline of roughly 20.44% from the $1.81 EPS reported in the same quarter a year prior. Wall Street was forecasting approximately 2.13% EPS growth relative to the prior quarter’s actual result of $1.41.
Context: What 13F Filings Tell Us
SEC Form 13F filings are quarterly reports required of institutional investment managers with more than $100 million in qualifying assets under management. These filings disclose long equity positions held at the end of each calendar quarter and are made publicly available approximately 45 days after quarter-end. Importantly, 13F filings do not capture short positions, derivatives strategies, or changes made after the reporting date, so they provide a lagging and incomplete picture of an institution’s overall market exposure.
Position changes disclosed in 13F filings should be understood as historical snapshots rather than current investment signals. Readers researching institutional activity should always check the most recent available filings directly via the SEC EDGAR database.