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SunOpta Inc. Message Board

  • heartandsoy2 heartandsoy2 Apr 9, 2007 5:40 PM Flag

    Q1 I-holdings

    Yes, it is that time again. :-)

    Globalbridge first STKL holder to report, marginal increase during Q1 to 136.5k shares.

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    • Final tally for Q1-07, I-holdings increased by just over 9 mln shares - which is quite amazing even adjusting for the additional shares from the shelf - to a total of about 36.1 mln shares (assuming we do not get any late filers).

      As a % of outstanding shares in STKL institutional ownership moved from just below 47% at the end of Q4-06 to slightly above 57% at the end of Q1-07. That is well beyond what I had expected.

      We now have a total of 13 institutions with more than 1 mln shares, some of the new names on that list include Mellon Financial, UBS and Deutsche Bank. Better get those crew members buying Biggestbison, or GATO might fall further down that ownership list. :-)

    • AGF added 567k for a total of 1.388 mln. Only Morgan Stanley now left to provide numbers for Q1 from our top-25 I-holders.

    • North Pointe sold its position of 788k shares, Allianz cut back by 114k to 952k shares and Weiss Multi-Strategy added 179k to 290k shares.

      Only Transamerica, AGF and Morgan Stanley left to report among the top-25 holders - it looks like we will end up with institutions holding 34-35 mln STKL shares at the end of Q1-07 compared to 27 mln at the end of Q4-06.

    • Deutsche Bank added 1.125 mln shares in Q1 for a total of 1.174 mln shares. Also, UBS Global reporting an increase of 942k shares to 1.242 mln shares but I would be a bit cautious about that latter number given the numbers out of Cooper Rock and Wellington earlier today.

      If it turns out to be correct UBS/Cooper/Wellington were sitting on a combined total of almost 4 mln STKL shares at the end of Q1.

      BTW, Tjuliar16, you are absolutely correct that the accumulation pace of I-holders was much greater in Q1-07 than what we have seen in previous quarters, as we have moved from 30% to now well above 55%.

    • Wellington new position of 1.616 mln shares, or fourth largest I-holder. I-ownership pushing 55%, and looking at the price/volume since the end of Q1 I suspect that it has not changed all that much since that point in time.

      Surprisingly sharp drop in retail ownership during Q1, even when accounting for the strong move higher.

    • Cooper Rock new holder with 956k shares (part of that might be old UBS Global position), Oberweis cut its position by 28k shares to 442k shares.

      Overall I-ownership as of 3/31 now above 52%, net addition about 6 mln shares with quite a few still left to report.

    • Goldman Sachs added 66k shares for a total of 93k shares (perhaps in keeping with their "green" status :-)) and Canadian entity Caisse De Depot providing its first 13F-HR reports and a STKL position of 329k shares.

    • Heart
      Is there value to posting lagging data? Everyday volume and price action indicates what the institutions are doing. If price is up on increasing volume, what are institutions doing? If there is no volume, what are institutions doing? If price is down on increasing volume, what are institutions doing? What does it tell you if last quarter someone added? So this quarter the price should be up? My feeling, you need to ignore lagging data.

      Interpreting price and volume is a window on understanding the market's take on what management is doing. If you see the potential for this Company, you have to see that management is GROSSLY UNDERPERFORMING. I think Bromley is terrific, the BioProcess guy is super, and Minerals are doing great. IMO, the BOD's and insiders are clueless and are killing the investment prospects in the stock.

      IMO, the Company management is shooting itself in the foot. The only one, imo, that could screw this up is management.

      • 2 Replies to mrtrekman
      • Mrtrekman,

        I find the data quite useful to not only keep track of which institutions are active but also to gauge the long-term trends - which I believe are important as a long-term investor.

        We have moved from 30% institutional ownership to above 50% ownership in less than two years now and I suspect that this general trend will continue towards 70-80% within another year or two, although we might have some short-term temporary countertrends.

        With respect to the BOD/insiders I have not seen anything that would suggest that they are "killing the investment prospects", perhaps you had something specific in mind?

      • mrtrekman, in one of the few instances of "what happened in the past" I know of, wouldn't "lagging data" in the form of increased instutional holdings indicate a future of growth?

        The rest of us are thinking like institutions and continuing to accumulate or hold what we own. The forest in Norval is growing. Each acquistion means another tree is planted. Quit trying to "cut them down."

    • JP Morgan joining Mellon as large new holder, by buying 752k shares in Q1. GW Capital increased its position by 783k shares while RS Investment sold off 205k shares.

      I-holders have now officially moved past the 50% mark in terms of ownership of STKL, and the net addition during Q1 reported to date is almost 5.5 mln shares. Impressive.

    • I was out of commission most of yesterday, virtual avalanche of I-holders reporting over the past 24 hours - here are a few of the more interesting:

      Wells Fargo cut its position by about 474k shares to 1.575 mln, Royce Associates added 71k for a total of 1.498 mln shares, Tamro Capital bought 158k shares and now sitting on 1.144 mln shares while Mellon Financial is new on the list with 2.480 mln shares purchased during Q1.

      Overall reported net additions among I-holders during Q1 now 3.355 mln shares, moving closer to that 50% ownership mark.

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