Hedge Funds Eye Paychex: A Glimpse into 13F Filings
In the recent review of 28 13F filings for the September 30, 2024 reporting period, we found that 12 hedge funds held shares in Paychex Inc (Symbol: PAYX). When several major fund managers invest in the same company, it’s wise to investigate further.
However, it’s crucial to understand that 13F filings provide only part of the picture. These funds are mandated to disclose their long positions to the SEC, but they aren’t required to show their short positions. A fund that short-sells shares might also hold long positions, which would appear bullish based on the 13F but might not represent the whole strategy if the short sides are hidden.
Despite this limitation, examining groups of 13F filings can reveal significant trends, especially when analyzing changes over time. Let’s explore the latest changes in PAYX holdings among these funds:
During the latest reporting period, 4 of the funds increased their PAYX positions from June 30, 2024, to September 30, 2024, while 6 funds reduced their holdings.
Furthermore, we aggregated the total number of PAYX shares across all funds holding the stock during the September 30, 2024 reporting period. Compared to the total held on June 30, 2024, these funds collectively increased their holdings by 1,181,988 shares, rising from 25,843,833 to 27,025,821—an overall increase of approximately 4.57%. The top three funds holding PAYX as of September 30, 2024, are:
We will continue tracking the latest 13F filings from hedge fund managers and share insights drawn from the combined data across reporting periods. While individual filings may mislead due to their long-only nature, the overall trends among groups of funds can be quite revealing, providing intriguing investment opportunities like Paychex Inc (Symbol: PAYX).
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Also see:
• Institutional Holders of BBIP
• GME Average Annual Return
• Funds Holding IDSA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
