Hedge Fund Insights: Tesla’s Stock Movements in Latest 13F Filings

In the recent analysis of 13F filings for the quarter ending September 30, 2024, Tesla Inc (Symbol: TSLA) emerged as a significant interest among hedge funds, with 14 funds reporting holdings. This collective enthusiasm warrants a deeper investigation into the trends.

It is crucial to understand that 13F filings only reveal a portion of a hedge fund’s strategy. While they disclose the long positions they hold with the SEC, they do not provide insight into short positions. For instance, a fund that is bearish on Tesla might short calls while still holding a long position in the stock. Consequently, this could lead to an assumption of bullishness based solely on the long position shown in filings, which misses the fuller picture, as the other side of the position remains hidden.

Despite this limitation, analyzing groups of 13F filings can offer valuable insights, particularly by comparing different holding periods. Let’s delve into the changes in TSLA positions among the latest filers:

Of the 14 funds tracking Tesla, 7 increased their TSLA positions from June 30, 2024, to September 30, 2024, while 6 funds reduced their stakes.

Expanding our view beyond individual funds, we compiled the total TSLA shares held by all funds reporting as of September 30, 2024. From a complete review of 609 funds, we found a decline of 373,159 shares in total TSLA holdings, dropping from 5,944,414 shares to 5,571,255. This represents a decrease of about -6.28%. The top three hedge funds holding TSLA on September 30, 2024, are:

We will continue to monitor the latest 13F filings and report on trends and insights from the collective positions of hedge fund managers. While analyzing individual filings can sometimes mislead due to their long-only reporting, viewing the total across groups of funds provides a clearer understanding and can reveal potential investment opportunities worth further consideration, such as Tesla Inc (Symbol: TSLA).

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.