At Holdings Channel, we have reviewed the latest batch of the 143 most recent 13F filings for the 03/31/2024 reporting period, and noticed that McDonald’s Corp (Symbol: MCD) was held by 36 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 MCD positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000’s) |
|---|---|---|---|
| iSAM Funds UK Ltd | NEW | +7,022 | +$1,980 |
| Investment Management Corp of Ontario | Existing | –5,300 | –$1,742 |
| Royal Capital Wealth Management LLC | Existing | +23 | –$133 |
| Federation des caisses Desjardins du Quebec | NEW | +88,351 | +$25,084 |
| Aspen Grove Capital LLC | NEW | +873 | +$246 |
| Pine Harbor Wealth Management LLC | Existing | –15 | –$22 |
| Man Group plc | Existing | –188,199 | –$57,213 |
| Watts Gwilliam & Co. LLC | NEW | +1,833 | +$496 |
| Aptus Capital Advisors LLC | Existing | +4,463 | +$695 |
| Masterton Capital Management LP | Existing | +9,700 | +$2,312 |
| Northeast Financial Consultants Inc | Existing | +172 | –$57 |
| Brevan Howard Capital Management LP | Existing | –4,030 | –$1,245 |
| NCM Capital Management LLC | Existing | –11 | –$56 |
| Utah Retirement Systems | Existing | +100 | –$1,814 |
| Weaver Capital Management LLC | Existing | +1,240 | +$232 |
| Goldman Sachs Group Inc. | Existing | –309,734 | –$152,980 |
| Becker Capital Management Inc. | Existing | –151 | –$114 |
| Zacks Investment Management | Existing | +11,553 | –$1,411 |
| Weaver Capital Management LLC | Existing | +1,240 | +$232 |
| Buckingham Strategic Partners LLC | Existing | +8,443 | +$2,289 |
| FRG Family Wealth Advisors LLC | Existing | –125 | –$314 |
| Lavaca Capital LLC | Existing | +296 | +$68 |
| Greenwood Gearhart Inc. | Existing | –140 | –$122 |
| McDonough Capital Management Inc | Existing | +1 | –$13 |
| Kolinsky Wealth Management LLC | Existing | +271 | +$53 |
| Rockbridge Investment Management LCC | Existing | –2 | –$11 |
| Cullen Capital Management LLC | Existing | –475 | –$263 |
| Waverly Advisors LLC | Existing | +8,912 | +$2,432 |
| Kinloch Capital LLC | Existing | +632 | $UNCH |
| Silvercrest Asset Management Group LLC | Existing | –777 | –$938 |
| Captrust Financial Advisors | Existing | –18,772 | –$8,052 |
| Zurich Insurance Group Ltd FI | Existing | UNCH | –$107 |
| Caxton Associates LP | Existing | UNCH | –$48 |
| Lavaca Capital LLC | Existing | +296 | +$68 |
| Paloma Partners Management Co | Existing | +13,913 | +$3,914 |
| Mount Yale Investment Advisors LLC | Existing | +931 | +$231 |
| Aggregate Change: | –367,466 | –$186,323 | |
In terms of shares owned, we count 17 of the above funds having increased existing MCD positions from 12/31/2023 to 03/31/2024, with 13 having decreased their positions and 4 new positions. Worth noting is that Shellback Capital LP, Pensionmark Financial Group LLC, DoubleLine ETF Adviser LP, New Millennium Group LLC, and Berkley W R Corp, included in this recent batch of 13F filers, exited MCD common stock as of 03/31/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the MCD share count in the aggregate among all of the funds which held MCD at the 03/31/2024 reporting period (out of the 5,547 we looked at in total). We then compared that number to the sum total of MCD 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 MCD. We found that between these two periods, funds reduced their holdings by 5,159,856 shares in the aggregate, from 363,227,736 down to 358,067,880 for a share count decline of approximately -1.42%. The overall top three funds holding MCD 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 McDonald’s Corp (Symbol: MCD).
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Also see:
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GSBC shares outstanding history
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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.
