Hedge Funds Increase Their Stakes in The Materials Select Sector SPDR Fund

Recent 13F filings reveal a growing interest among hedge funds in The Materials Select Sector SPDR Fund (Symbol: XLF), prompting a closer look at their investment strategies.

It’s essential to understand the limitations of 13F filings. These documents only show long positions, which means they do not reveal any short selling strategies. For instance, a hedge fund could be shorting a stock while maintaining a long position to balance a bearish outlook. Consequently, this could create a misleading impression that the fund is bullish based solely on its long holdings.

With that said, analyzing groups of 13F filings can provide valuable insights, particularly when assessing changes over time. Below, let’s examine the shifts in positions held in XLF among these recent filers:

From June 30, 2024, to September 30, 2024, all six funds listed increased their holdings in XLF. However, it’s noteworthy that Northwest Wealth Management LLC exited its position by September 30, 2024.

Beyond individual funds, we aggregated data from all funds holding XLF as of September 30, 2024, totaling 2,955 funds analyzed. We compared this to their holdings from June 30, 2024. The results indicated a total increase of 12,511,474 shares, rising from 103,339,459 to 115,850,933 shares—an approximate increase of 12.11%. The top three funds holding XLF on September 30, 2024, included:

We will continue to monitor the latest 13F filings from hedge funds, sharing noteworthy trends and insights based on aggregated data. While individual filings can sometimes be misleading due to their long-only nature, aggregate data across groups of funds present a clearer and more relevant picture, offering intriguing investment opportunities like The Materials Select Sector SPDR Fund (Symbol: XLF).

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