At Holdings Channel, we have reviewed the latest batch of the 26 most recent 13F filings for the 12/31/2025 reporting period, and noticed that Union Pacific Corp (Symbol: UNP) was held by 17 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 UNP positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Sippican Capital Advisors | Existing | -1 | -$6 |
| Sage Investment Counsel LLC | Existing | UNCH | -$7 |
| Gilliland Jeter Wealth Management LLC | Existing | +103 | -$6 |
| Atala Financial Inc | Existing | UNCH | -$8 |
| FSM Wealth Advisors LLC | Existing | -119 | -$37 |
| State of Alaska Department of Revenue | Existing | -4,955 | -$1,467 |
| Aspect Partners LLC | Existing | -38 | -$9 |
| Tectonic Advisors LLC | Existing | +146 | +$10 |
| Westside Investment Management Inc. | Existing | +18 | +$2 |
| Legacy Bridge LLC | Existing | -40 | -$25 |
| HBW Advisory Services LLC | Existing | +32 | -$7 |
| Portman Square Capital LLP | Existing | UNCH | +$54 |
| High Net Worth Advisory Group LLC | Existing | -528 | -$134 |
| Arbor Investment Advisors LLC | Existing | UNCH | -$5 |
| Whitener Capital Management Inc. | Existing | +458 | +$89 |
| Fourpath Capital Management LLC | Existing | UNCH | -$234 |
| Guyasuta Investment Advisors Inc. | Existing | -1,495 | -$419 |
| Aggregate Change: | -6,419 | -$2,209 | |
In terms of shares owned, we count 5 of the above funds having increased existing UNP positions from 09/30/2025 to 12/31/2025, with 7 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the UNP share count in the aggregate among all of the funds which held UNP at the 12/31/2025 reporting period (out of the 1,625 we looked at in total). We then compared that number to the sum total of UNP shares those same funds held back at the 09/30/2025 period, to see how the aggregate share count held by hedge funds has moved for UNP. We found that between these two periods, funds reduced their holdings by 1,398,230 shares in the aggregate, from 19,200,923 down to 17,802,693 for a share count decline of approximately -7.28%. The overall top three funds holding UNP on 12/31/2025 were:
| » | Fund | Shares of UNP Held |
|---|---|---|
| 1. | Massachusetts Financial Services Co. MA | 7,605,933 |
| 2. | Aberdeen Group plc | 784,576 |
| 3. | Perpetual Ltd | 718,637 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding UNP | » |
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 Union Pacific Corp (Symbol: UNP).
10 S&P 500 Components Hedge Funds Are Buying »
Also see:
Funds Holding NANC
Institutional Holders of CENN
Top Ten Hedge Funds Holding ELV
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
