At Holdings Channel, we have reviewed the latest batch of the 24 most recent 13F filings for the 06/30/2024 reporting period, and noticed that Vanguard Index Funds Mid-Cap Value Index VIPER Shs (Symbol: VNQ) was held by 15 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 VNQ positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Whitegate Investment Counselors Inc. | Existing | -633 | -$224 |
| Arrow Financial Corp | Existing | -440 | -$56 |
| Litman Gregory Wealth Management LLC | Existing | -1,452 | -$156 |
| Kings Path Partners LLC | NEW | +672 | +$56 |
| GoalVest Advisory LLC | Existing | UNCH | $UNCH |
| TFB Advisors LLC | Existing | +17 | +$26 |
| Moloney Securities Asset Management LLC | Existing | -265 | -$33 |
| Adero Partners LLC | Existing | -3,723 | -$389 |
| Grey Fox Wealth Advisors LLC | Existing | +4,444 | +$288 |
| Garland Capital Management Inc. | Existing | UNCH | -$3 |
| Rainwater Charitable Foundation | Existing | UNCH | -$186 |
| Centerpoint Advisors LLC | Existing | UNCH | $UNCH |
| Heritage Wealth Management LLC | Existing | +24 | -$7 |
| Forum Financial Management LP | Existing | -525 | -$72 |
| Lodestar Private Asset Management LLC | Existing | +440 | -$39 |
| Aggregate Change: | -1,441 | -$795 | |
In terms of shares owned, we count 4 of the above funds having increased existing VNQ positions from 03/31/2024 to 06/30/2024, with 6 having decreased their positions and 1 new position. Worth noting is that Global Assets Advisory LLC, included in this recent batch of 13F filers, exited VNQ common stock as of 06/30/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the VNQ share count in the aggregate among all of the funds which held VNQ at the 06/30/2024 reporting period (out of the 2,247 we looked at in total). We then compared that number to the sum total of VNQ 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 VNQ. We found that between these two periods, funds reduced their holdings by 1,086,512 shares in the aggregate, from 47,325,921 down to 46,239,409 for a share count decline of approximately -2.30%. The overall top three funds holding VNQ on 06/30/2024 were:
| » | Fund | Shares of VNQ Held |
|---|---|---|
| 1. | Empower Advisory Group LLC | 11,297,708 |
| 2. | Bank of New York Mellon Corp | 2,239,091 |
| 3. | Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management | 2,084,929 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding VNQ | » |
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 Index Funds Mid-Cap Value Index VIPER Shs (Symbol: VNQ).
10 S&P 500 Components Hedge Funds Are Buying »
Also see:
TSEM Split History
EG Technical Analysis
PRSI Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
