At Holdings Channel, we have reviewed the latest batch of the 23 most recent 13F filings for the 06/30/2024 reporting period, and noticed that Tesla Inc (Symbol: TSLA) was held by 13 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 TSLA 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 | -2,656 | -$414 |
| Maia Wealth LLC | NEW | +2,724 | +$539 |
| Bank Pictet & Cie Asia Ltd. | Existing | -468 | -$30,100 |
| Meyer Handelman Co. | Existing | -3,370 | -$561 |
| Foguth Wealth Management LLC. | Existing | -856 | +$260 |
| Ameliora Wealth Management Ltd. | Existing | UNCH | +$24 |
| Lauer Wealth LLC | Existing | +9,811 | +$3,065 |
| MCIA Inc | Existing | +679 | +$789 |
| Friedenthal Financial | Existing | UNCH | +$2 |
| Ulland Investment Advisors LLC | Existing | -165 | -$26 |
| PARUS FINANCE UK Ltd | Existing | +539 | +$267 |
| Sageworth Trust Co | Existing | +1,349 | +$647 |
| Toth Financial Advisory Corp | Existing | -906 | -$83 |
| Aggregate Change: | +6,681 | -$25,591 | |
In terms of shares owned, we count 4 of the above funds having increased existing TSLA positions from 03/31/2024 to 06/30/2024, with 6 having decreased their positions and 1 new position. Worth noting is that Bank Pictet & Cie Asia Ltd., and Future Financial Wealth Managment LLC, included in this recent batch of 13F filers, exited TSLA common stock as of 06/30/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the TSLA share count in the aggregate among all of the funds which held TSLA at the 06/30/2024 reporting period (out of the 670 we looked at in total). We then compared that number to the sum total of TSLA 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 TSLA. We found that between these two periods, funds increased their holdings by 1,176,302 shares in the aggregate, from 7,296,761 up to 8,473,063 for a share count increase of approximately 16.12%. The overall top three funds holding TSLA on 06/30/2024 were:
| » | Fund | Shares of TSLA Held |
|---|---|---|
| 1. | IMC Chicago LLC | 1,259,395 |
| 2. | DNB Asset Management AS | 748,860 |
| 3. | Neumann Advisory Hong Kong Ltd | 673,608 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding TSLA | » |
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 Tesla Inc (Symbol: TSLA).
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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.
