At Holdings Channel, we have reviewed the latest batch of the 57 most recent 13F filings for the 12/31/2024 reporting period, and noticed that SPDR S&P 500 ETF Trust (Symbol: SPY) was held by 28 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 SPY positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Prudential PLC | Existing | -19,230 | -$10,984 |
| Hurlow Wealth Management Group Inc. | Existing | -2 | +$14 |
| Oarsman Capital Inc. | Existing | +236 | +$175 |
| Dempze Nancy E | NEW | +2,348 | +$1,376 |
| KCM Investment Advisors LLC | Existing | -3,403 | -$1,393 |
| Pioneer Trust Bank N A OR | Existing | +870 | +$893 |
| Solstein Capital LLC | Existing | UNCH | +$363 |
| Kidder Stephen W | Existing | +80 | +$66 |
| Leeward Financial Partners LLC | Existing | +190 | +$175 |
| Systematic Alpha Investments LLC | Existing | +33,000 | +$19,861 |
| Somerville Kurt F | Existing | +47 | +$33 |
| First Western Trust Bank | Existing | -1,614 | +$474 |
| Puzo Michael J | NEW | +470 | +$275 |
| Wells Fargo & Company MN | Existing | -207,746 | -$7,712 |
| Rosenblum Silverman Sutton S F Inc. CA | Existing | -9 | +$18 |
| Broderick Brian C | Existing | UNCH | +$130 |
| Smith Moore & CO. | Existing | +724 | +$1,061 |
| Rahlfs Capital LLC | NEW | +850 | +$498 |
| Ted Buchan & Co | Existing | +71 | +$60 |
| Hemenway Trust Co LLC | Existing | +2,468 | +$1,463 |
| Sun Life Financial Inc. | Existing | +12,145 | +$14,904 |
| Anchor Capital Management Group Inc | NEW | +100,000 | +$58,608 |
| Wedbush Securities Inc. | Existing | -455 | +$317 |
| Tikvah Management LLC | Existing | UNCH | +$452 |
| Annandale Capital LLC | Existing | +181,890 | +$82,394 |
| Investidor Profissional Gestao de Recursos Ltda. | Existing | +24,124 | +$12,915 |
| Perennial Investment Advisors LLC | Existing | +1,751 | +$1,294 |
| Envestnet Asset Management Inc. | Existing | -15,769 | +$24,622 |
| Aggregate Change: | +113,036 | +$202,352 | |
In terms of shares owned, we count 13 of the above funds having increased existing SPY positions from 09/30/2024 to 12/31/2024, with 8 having decreased their positions and 4 new positions. Worth noting is that Annandale Capital LLC, and Investidor Profissional Gestao de Recursos Ltda., included in this recent batch of 13F filers, exited SPY common stock as of 12/31/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the SPY share count in the aggregate among all of the funds which held SPY at the 12/31/2024 reporting period (out of the 5,177 we looked at in total). We then compared that number to the sum total of SPY shares those same funds held back at the 09/30/2024 period, to see how the aggregate share count held by hedge funds has moved for SPY. We found that between these two periods, funds reduced their holdings by 12,734,429 shares in the aggregate, from 272,370,992 down to 259,636,563 for a share count decline of approximately -4.68%. The overall top three funds holding SPY on 12/31/2024 were:
| » | Fund | Shares of SPY Held |
|---|---|---|
| 1. | JPMorgan Chase & Co. | 53,187,113 |
| 2. | Goldman Sachs Group Inc. | 32,272,300 |
| 3. | LPL Financial LLC | 8,947,714 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding SPY | » |
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 SPDR S&P 500 ETF Trust (Symbol: SPY).
10 S&P 500 Components Hedge Funds Are Buying »
Also see:
Top Ten Hedge Funds Holding NMHI
IFEU market cap history
RPM market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
