UPS Surges in Hedge Fund Interest: What Recent 13F Filings Reveal

The latest 13F filings for the reporting period ending September 30, 2024, show that 13 hedge funds have invested in United Parcel Service Inc (Symbol: UPS). When hedge fund managers largely align their positions, it’s worth taking a closer look.

It’s crucial to understand that 13F filings only unveil a part of the hedge funds’ strategies. These reports expose their long positions, while short positions remain undisclosed. For instance, a fund could be holding both long shares of UPS and simultaneously betting against the stock. As a result, the long position may give the impression of bullish sentiment, although the full picture is not visible.

Despite this limitation, analyzing groups of 13F filings can reveal valuable insights, particularly when comparing different holding periods. Let’s examine the changes in UPS positions based on the most recent data:

From June 30, 2024, to September 30, 2024, seven of the funds increased their holdings in UPS, three reduced their stakes, and one initiated a new position. Notably, RFP Financial Group LLC exited their UPS holdings as of September 30, 2024.

Expanding our view beyond these specific funds, we aggregated the total share count of UPS across all 1,382 funds analyzed for the September 30, 2024, reporting period. We compared this total to the holdings reported on June 30, 2024. The analysis revealed that hedge funds collectively increased their UPS shares by 1,164,495, rising from 16,442,874 to 17,607,369 shares—a jump of approximately 7.08%. The largest shareholders of UPS as of September 30, 2024, were:

We will continue monitoring the latest 13F filings from hedge funds and share intriguing stories that emerge from analyzing the aggregated data across different groups of investors. While individual filings might mislead due to their long-only nature, the overall changes in group holdings provide a clearer, more relevant picture. This analysis of United Parcel Service Inc (Symbol: UPS) is a testament to that approach.

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