Hedge Funds Show Interest in Verizon Communications: A Closer Look at Recent 13F Filings
After analyzing the latest 13F filings for the period ending September 30, 2024, we found that 18 hedge funds reported holding shares in Verizon Communications Inc (Symbol: VZ). When multiple funds show similar investment patterns, it can be insightful to investigate further.
It’s essential to understand that 13F filings only provide partial insights. Funds must disclose their long positions, but short positions remain hidden. This means a fund can be optimistic about a stock while hedging against losses by shorting another part of its portfolio. Thus, relying solely on 13F data may mislead observers about a fund’s actual stance on a stock.
Despite this limitation, analyzing groups of 13F filings can yield valuable information, especially when comparing different reporting periods. Let’s examine the changes in VZ positions from this latest round of filings:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000’s) |
|---|---|---|---|
| Strategic Investment Advisors MI | Existing | +2,666 | +$382 |
| Wealth Management Partners LLC | Existing | –119 | +$30 |
| Blodgett Wealth Advisors LLC | Existing | –164 | +$26 |
| Symphony Financial Ltd. Co. | Existing | –6,940 | +$211 |
| Waldron Private Wealth LLC | Existing | +752 | +$114 |
| Leo Wealth LLC | Existing | +186 | +$298 |
| WT Wealth Management | Existing | +1,764 | +$188 |
| CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT | Existing | +48,000 | +$2,383 |
| Wendell David Associates Inc. | Existing | –2,190 | +$57 |
| Eastern Bank | Existing | +162,131 | +$7,570 |
| My Legacy Advisors LLC | Existing | –4,789 | –$104 |
| Xcel Wealth Management LLC | Existing | +127 | +$661 |
| Signaturefd LLC | Existing | +6,006 | +$488 |
| Whittier Trust Co. of Nevada Inc. | Existing | –1,165 | +$497 |
| Whittier Trust Co. | Existing | –318 | +$783 |
| Criterion Capital Advisors LLC | Existing | UNCH | $UNCH |
| Stewardship Advisors LLC | NEW | +6,144 | +$276 |
| Western Financial Corp CA | Existing | +250 | +$75 |
| Aggregate Change: | +212,341 | +$13,935 | |
Among these funds, 9 increased their VZ holdings between June 30, 2024, and September 30, 2024, while 7 reduced their investments, and 1 new position emerged. Notably, Warner Financial Inc. divested its entire stake in VZ stock during this period.
In total, we reviewed the aggregate number of VZ shares held by all 1,382 funds reporting on September 30, 2024, and compared it to the figures from June 30, 2024. This analysis revealed an increase of 3,662,348 shares, raising the total from 80,016,276 to 83,678,624 shares, marking an approximate 4.58% rise. The top three funds holding VZ as of September 30, 2024, are listed in our records.
We will continue to monitor the latest 13F filings from hedge funds, highlighting interesting trends and insights that emerge from these aggregated reports. While individual filings can be somewhat misleading due to the focus on long positions, examining groups of funds across reporting periods provides a clearer picture and can lead to valuable investment ideas, such as those related to Verizon Communications Inc (Symbol: VZ).
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Also see:
• Oversold Canadian Stocks
• SYA Insider Buying
• Funds Holding IGM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
