Hedge Funds Favor Southern Company in Latest 13F Filings

Spotlight on Institutional Holdings as of September 30, 2024

At Holdings Channel, our analysis of the most recent 13F filings for the reporting period ending 09/30/2024 indicates that 14 hedge funds hold shares in Southern Company (Symbol: SO). When multiple hedge funds are aligned in their investments, it warrants a deeper examination.

It is essential to understand that 13F filings provide an incomplete picture. These disclosures only reveal long positions, leaving out short positions. A fund might hedge against a stock by shorting it, while still holding a long position. This means that while a fund may appear bullish based on its 13F filing, the reality could be more complex, as the bearish aspects of its strategy are not disclosed.

Despite this limitation, analyzing groups of 13F filings can be insightful, particularly across different reporting periods. Let’s explore the changes in SO positions among these latest 13F filers:

From June 30, 2024, to September 30, 2024, four funds increased their holdings in Southern Company. Conversely, five reduced their positions, and three entered new positions.

Expanding our scope beyond just these funds, we compiled the total SO shares held by all 1,215 funds reviewed for the 09/30/2024 period. Comparatively, we assessed the total shares held by these same funds back on 06/30/2024. We discovered that funds increased their cumulative holdings by 149,180 shares, growing from 9,026,819 to 9,175,999 shares. This marks a rise of approximately 1.65%. The top three funds holding SO as of 09/30/2024 are:

We will continue to track the latest 13F filings from hedge funds, bringing noteworthy insights that emerge from analyzing the aggregated information across different groups of managers over time. Although individual filings can sometimes misrepresent a fund’s sentiment due to their long-only objective, observing the total sums across groups can provide more clarity and valuable ideas for further investigation, such as those related to Southern Company (Symbol: SO).

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