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Hedge Funds Show Mixed Feelings on Bank of America Holdings
In the latest 13F filings from September 30, 2024, 48 hedge funds reported their positions in Bank of America Corp (Symbol: BAC). Such interest from multiple funds warrants a closer examination.
It’s crucial to understand that 13F filings only cover long positions, leaving out any short positions hedge funds may hold. For instance, a fund might be shorting a stock while simultaneously having a long position, leading to potential misconceptions about their overall market sentiment. Thus, assessing a fund’s 13F filing might reveal a bullish inclination, but that could be misleading without the short side of the trade.
With this in mind, analyzing the collective data from 13F filings can prove insightful, especially when tracking changes in position. Let’s explore the latest trends with BAC from these hedge funds:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000’s) |
|---|---|---|---|
| Public Employees Retirement Association of Colorado | Existing | –2,231 | –$177 |
| Jacobi Capital Management LLC | Existing | –2,887 | –$129 |
| Core Alternative Capital | Existing | +150 | +$6 |
| Battery Global Advisors LLC | NEW | +739 | +$29 |
| Legal & General Group Plc | Existing | –2,027,128 | –$85,612 |
| Ironvine Capital Partners LLC | Existing | UNCH | –$7 |
| Valueworks LLC | Existing | UNCH | +$13 |
| Mark Asset Management LP | Existing | UNCH | –$2 |
| Balyasny Asset Management L.P. | Existing | +4,458,728 | +$176,726 |
| Solutions 4 Wealth Ltd | Existing | +7 | UNCH |
| Rokos Capital Management LLP | Existing | –5,722,529 | –$227,715 |
| Walled Lake Planning & Wealth Management LLC | Existing | UNCH | +$13 |
| Hanover Advisors Inc. | Existing | UNCH | –$1 |
| Neuberger Berman Group LLC | Existing | –19,311 | –$1,666 |
| Nippon Life Global Investors Americas Inc. | Existing | +410,910 | +$16,280 |
| Diversified Enterprises LLC | NEW | +19,411 | +$770 |
| FSB Premier Wealth Management Inc. | Existing | +5,188 | +$205 |
| Forvis Mazars Wealth Advisors LLC | Existing | +5,553 | +$208 |
| Kerrisdale Advisers LLC | Existing | –50,125 | –$2,001 |
| Pinebridge Investments L.P. | Existing | +1,218,182 | +$48,223 |
| C2C Wealth Management LLC | Existing | UNCH | +$32 |
| Alliancebernstein L.P. | Existing | –2,620,369 | –$104,987 |
| Verition Fund Management LLC | Existing | +299,340 | +$11,878 |
| Auxier Asset Management | Existing | –39 | –$32 |
| Channing Global Advisors LLC | Existing | –163 | –$10 |
| Captrust Financial Advisors | Existing | –8,103 | +$159 |
| Atlantic Union Bankshares Corp | Existing | +20,931 | +$806 |
| Regions Financial Corp | Existing | –37,679 | –$1,533 |
| Kingfisher Capital LLC | Existing | –20,563 | –$693 |
| Icon Wealth Advisors LLC | Existing | –7,281 | –$389 |
| Capstone Investment Advisors LLC | Existing | –408,650 | –$16,096 |
| Dark Forest Capital Management LP | Existing | +22,856 | +$906 |
| Ironwood Investment Management LLC | Existing | –740 | –$30 |
| Beacon Pointe Advisors LLC | Existing | –21,926 | –$918 |
| JRM Investment Counsel LLC | Existing | –542 | –$117 |
| Twin | Existing | UNCH | UNCH |
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Hedge Funds Adjust Their Holdings in Bank of America: An Insightful Review
Recent filings reveal significant changes in hedge fund investments in Bank of America Corp (Symbol: BAC) between June and September 2024. Here’s a look at the key movements.
| Focus Capital Partners LLC | Existing | –250 | –$11 |
| Bank of America Corp DE | Existing | +565,806 | +$21,691 |
| Susquehanna International Group LLP | Existing | +1,149,939 | +$45,161 |
| Fort Point Capital Partners LLC | Existing | +715 | +$27 |
| UNIVEST FINANCIAL Corp | NEW | +14,002 | +$556 |
| T. Rowe Price Investment Management Inc. | Existing | –50,133 | –$1,996 |
| Employees Retirement System of Texas | Existing | +47,430 | +$1,874 |
| NBT Bank N A NY | Existing | –5,900 | –$241 |
| Price T Rowe Associates Inc. MD | Existing | +22,732,161 | +$894,090 |
| Advisors Capital Management LLC | Existing | +5,769 | +$2,895 |
| Colony Group LLC | Existing | +622,159 | +$14,865 |
| Samlyn Capital LLC | Existing | +2,352,913 | +$93,198 |
| Vivaldi Capital Management LP | Existing | –4,225 | –$169 |
| Aggregate Change: | +22,942,115 | +$886,079 | |
A breakdown of investment trends reveals that 18 funds increased their holdings of BAC from June 30, 2024, to September 30, 2024. Conversely, 21 funds reduced their positions, while 3 new positions emerged during this period. Notably, Junto Capital Management LP exited its BAC investment as of September 30, 2024.
By analyzing the trends across all funds holding BAC shares at the September 30 reporting, we see that total holdings increased significantly. Comparing the numbers from June 30, 2024, funds raised their aggregate holdings by 427,110,443 shares, lifting the count from 2,546,272,029 to 2,973,382,472. This shift marks a substantial increase of approximately 16.77%. During this period, the top three funds with the largest BAC holdings were:
As we continue to monitor the latest 13F filings from hedge fund managers, we will share trends and insights garnered from these data. While examining single filings can sometimes mislead, observing the total activity across groups of funds can provide valuable insights into market movements and investment opportunities, particularly for stocks like Bank of America Corp (Symbol: BAC).
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Also see:
· IMH Videos
· DIS market cap history
· Verisign Technical Analysis
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
