At Holdings Channel, we have reviewed the latest batch of the 48 most recent 13F filings for the 03/31/2024 reporting period, and noticed that iShares Trust – Core S&P 500 Exchange Traded Fund (Symbol: IVV) was held by 18 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.
Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let’s take a look at the change in IVV positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000’s) |
|---|---|---|---|
| Ranch Capital Advisors Inc. | Existing | +1 | +$24 |
| CBIZ Investment Advisory Services LLC | Existing | +831 | +$1,583 |
| Coco Enterprises LLC | Existing | +33 | +$40 |
| United Bank | Existing | UNCH | +$49 |
| Morling Financial Advisors LLC | Existing | –492 | +$219 |
| Philadelphia Trust Co. | Existing | UNCH | +$142 |
| Impact Partnership Wealth LLC | Existing | –88 | +$15 |
| D.A. Davidson & CO. | Existing | +2,816 | +$10,219 |
| Altrius Capital Management Inc | Existing | +211 | +$147 |
| Builder Investment Group Inc. ADV | Existing | UNCH | +$178 |
| Providence Capital Advisors LLC | Existing | +89 | +$1,228 |
| Blueprint Investment Partners LLC | Existing | –6,522 | –$1,659 |
| Ingalls & Snyder LLC | Existing | –120 | –$2 |
| LaSalle St. Investment Advisors LLC | Existing | +2,255 | +$1,185 |
| Greenwich Wealth Management LLC | Existing | +288 | +$304 |
| Martin & Co. Inc. TN | Existing | UNCH | +$59 |
| O Shaughnessy Asset Management LLC | Existing | +5,198 | +$3,222 |
| Ameritas Investment Partners Inc. | Existing | –7,254 | +$1,273 |
| Aggregate Change: | –2,754 | +$18,226 | |
In terms of shares owned, we count 9 of the above funds having increased existing IVV positions from 12/31/2023 to 03/31/2024, with 5 having decreased their positions. Worth noting is that Thrive Capital Management LLC, included in this recent batch of 13F filers, exited IVV common stock as of 03/31/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the IVV share count in the aggregate among all of the funds which held IVV at the 03/31/2024 reporting period (out of the 4,272 we looked at in total). We then compared that number to the sum total of IVV shares those same funds held back at the 12/31/2023 period, to see how the aggregate share count held by hedge funds has moved for IVV. We found that between these two periods, funds increased their holdings by 4,316,233 shares in the aggregate, from 304,339,506 up to 308,655,739 for a share count increase of approximately 1.42%. The overall top three funds holding IVV on 03/31/2024 were:
We’ll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like iShares Trust – Core S&P 500 Exchange Traded Fund (Symbol: IVV).
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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.
