At Holdings Channel, we have reviewed the latest batch of the 24 most recent 13F filings for the 03/31/2025 reporting period, and noticed that Linde PLC (Symbol: LIN) was held by 14 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 LIN positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Traveka Wealth LLC | Existing | +34 | +$68 |
| Rice Partnership LLC | Existing | +618 | +$1,089 |
| Tradewinds LLC. | Existing | -25 | -$9 |
| Cloud Capital Management LLC | NEW | +239 | +$111 |
| Argentarii LLC | Existing | +257 | +$147 |
| Centennial Bank AR | Existing | UNCH | +$122 |
| Envestnet Asset Management Inc. | Existing | +129,173 | +$95,127 |
| Hexagon Capital Partners LLC | Existing | +129 | +$71 |
| Drake & Associates LLC | Existing | -126 | -$40 |
| Penserra Capital Management LLC | Existing | +572 | +$412 |
| Chilton Capital Management LLC | Existing | +268 | +$3,029 |
| Ifrah Financial Services Inc. | Existing | -147 | +$45 |
| US Asset Management LLC | Existing | -12 | +$139 |
| Financiere des Professionnels Fonds d investissement inc. | Existing | -1,006 | -$303 |
| Aggregate Change: | +129,974 | +$100,008 | |
In terms of shares owned, we count 7 of the above funds having increased existing LIN positions from 12/31/2024 to 03/31/2025, with 5 having decreased their positions and 1 new position.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the LIN share count in the aggregate among all of the funds which held LIN at the 03/31/2025 reporting period (out of the 2,392 we looked at in total). We then compared that number to the sum total of LIN shares those same funds held back at the 12/31/2024 period, to see how the aggregate share count held by hedge funds has moved for LIN. We found that between these two periods, funds reduced their holdings by 483,100 shares in the aggregate, from 19,196,423 down to 18,713,323 for a share count decline of approximately -2.52%. The overall top three funds holding LIN on 03/31/2025 were:
| » | Fund | Shares of LIN Held |
|---|---|---|
| 1. | WCM Investment Management LLC | 3,339,761 |
| 2. | Sumitomo Mitsui Trust Group Inc. | 1,483,495 |
| 3. | Principal Financial Group Inc. | 1,291,142 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding LIN | » |
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 Linde PLC (Symbol: LIN).
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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.
