At Holdings Channel, we have reviewed the latest batch of the 21 most recent 13F filings for the 09/30/2024 reporting period, and noticed that Vanguard Dividend Appreciation ETF (Symbol: VIG) was held by 9 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 VIG positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| CENTRAL TRUST Co | Existing | -1,085 | +$1,681 |
| Beese Fulmer Investment Management Inc. | Existing | +502 | +$283 |
| GUNN & Co INVESTMENT MANAGEMENT INC. | Existing | -1,392 | -$213 |
| Signature Resources Capital Management LLC | Existing | UNCH | +$1 |
| Dixon Fnancial Services Inc. | Existing | UNCH | +$25 |
| Grey Fox Wealth Advisors LLC | Existing | -26 | +$35 |
| Romano Brothers AND Company | Existing | +10,744 | +$3,382 |
| JMG Financial Group Ltd. | Existing | -44 | +$277 |
| Patrick M Sweeney & Associates Inc. | Existing | +486 | +$147 |
| Aggregate Change: | +9,185 | +$5,618 | |
In terms of shares owned, we count 3 of the above funds having increased existing VIG positions from 06/30/2024 to 09/30/2024, with 4 having decreased their positions. Worth noting is that BTS Asset Management Inc., included in this recent batch of 13F filers, exited VIG common stock as of 09/30/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the VIG share count in the aggregate among all of the funds which held VIG at the 09/30/2024 reporting period (out of the 1,547 we looked at in total). We then compared that number to the sum total of VIG shares those same funds held back at the 06/30/2024 period, to see how the aggregate share count held by hedge funds has moved for VIG. We found that between these two periods, funds reduced their holdings by 110,836 shares in the aggregate, from 32,423,317 down to 32,312,481 for a share count decline of approximately -0.34%. The overall top three funds holding VIG on 09/30/2024 were:
| » | Fund | Shares of VIG Held |
|---|---|---|
| 1. | HB Wealth Management LLC | 4,786,899 |
| 2. | Raymond James & Associates | 3,698,942 |
| 3. | Commonwealth Equity Services LLC | 2,809,801 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding VIG | » |
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 Vanguard Dividend Appreciation ETF (Symbol: VIG).
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Also see:
Funds Holding RNGR
Funds Holding SANG
FXZ Dividend History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
