At Holdings Channel, we have reviewed the latest batch of the 35 most recent 13F filings for the 06/30/2024 reporting period, and noticed that Schwab U.S. Large-cap Etf (Symbol: SCHX) was held by 11 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 SCHX positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Consilium Wealth Advisory LLC | Existing | -2,990 | +$69 |
| Embree Financial Group | Existing | +25,736 | +$2,846 |
| United Asset Strategies Inc. | Existing | +665 | +$50 |
| FSA Advisors Inc. | Existing | -99 | +$4 |
| PrairieView Partners LLC | Existing | -28 | -$2 |
| Carret Asset Management LLC | Existing | +31 | +$40 |
| R. W. Roge & Company Inc. | Existing | -12,470 | -$447 |
| DDD Partners LLC | Existing | -545 | -$20 |
| Johnson Financial Group LLC | Existing | -1,202 | +$16 |
| Fiduciary Family Office LLC | Existing | UNCH | +$25 |
| Tortoise Investment Management LLC | Existing | +19,740 | +$1,710 |
| Aggregate Change: | +28,838 | +$4,291 | |
In terms of shares owned, we count 4 of the above funds having increased existing SCHX positions from 03/31/2024 to 06/30/2024, with 6 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the SCHX share count in the aggregate among all of the funds which held SCHX at the 06/30/2024 reporting period (out of the 2,638 we looked at in total). We then compared that number to the sum total of SCHX shares those same funds held back at the 03/31/2024 period, to see how the aggregate share count held by hedge funds has moved for SCHX. We found that between these two periods, funds increased their holdings by 1,830,579 shares in the aggregate, from 79,737,548 up to 81,568,127 for a share count increase of approximately 2.30%. The overall top three funds holding SCHX on 06/30/2024 were:
| » | Fund | Shares of SCHX Held |
|---|---|---|
| 1. | Wealth Enhancement Advisory Services LLC | 6,711,162 |
| 2. | Diversified LLC | 3,904,509 |
| 3. | McAdam LLC | 3,218,870 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding SCHX | » |
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 Schwab U.S. Large-cap Etf (Symbol: SCHX).
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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.
