See Which Of The Latest 13F Filers Holds The Materials Select Sector SPDR Fund

At Holdings Channel, we have reviewed the latest batch of the 24 most recent 13F filings for the 03/31/2024 reporting period, and noticed that The Materials Select Sector SPDR Fund (Symbol: XLE) 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 XLE positions, for this latest batch of 13F filers:

FundNew Position?Change In Share CountChange In Market Value ($ in 1000's)
Hara Capital LLC Existing +3,357+$349
First Horizon Advisors Inc. Existing -357+$336
Advanced Asset Management Advisors Inc Existing +5+$1
Cultivar Capital Inc. Existing -2,770-$181
Money Design Co. Ltd. Existing -19,887+$59
Court Place Advisors LLC Existing -200+$90
Bricktown Capital LLC Existing -100,000-$8,278
Cavalier Investments LLC Existing +5,397+$1,470
Planning Capital Management Corp Existing -560-$37
Aggregate Change: -115,015-$6,191

In terms of shares owned, we count 3 of the above funds having increased existing XLE positions from 12/31/2023 to 03/31/2024, with 6 having decreased their positions.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the XLE share count in the aggregate among all of the funds which held XLE at the 03/31/2024 reporting period (out of the 1,896 we looked at in total). We then compared that number to the sum total of XLE shares those same funds held back at the 12/31/2023 period, to see how the aggregate share count held by hedge funds has moved for XLE. We found that between these two periods, funds increased their holdings by 659,466 shares in the aggregate, from 23,276,208 up to 23,935,674 for a share count increase of approximately 2.83%. The overall top three funds holding XLE on 03/31/2024 were:

»FundShares of XLE Held
1.Raymond James & Associates 1,772,484
2.Wealthfront Advisers LLC 1,369,488
4-10Find out the full Top 10 Hedge Funds Holding XLE»

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 The Materials Select Sector SPDR Fund (Symbol: XLE).

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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.

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