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 96 most recent 13F filings for the 03/31/2024 reporting period, and noticed that The Materials Select Sector SPDR Fund (Symbol: XLF) was held by 16 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 XLF positions, for this latest batch of 13F filers:

FundNew Position?Change In Share CountChange In Market Value ($ in 1000's)
All Terrain Financial Advisors LLC Existing -757+$20
Analyst IMS Investment Management Services Ltd. Existing -435+$20
IHT Wealth Management LLC Existing +44,054+$2,446
State Street Corp Existing +39,969+$7,572
Rokos Capital Management LLP NEW -1,624,000-$68,387
Certuity LLC Existing +1,485+$105
Creegan & Nassoura Financial Group LLC Existing UNCH+$41
Matrix Private Capital Group LLC Existing UNCH+$1
Atom Investors LP Existing +29,129+$1,458
Guardian Wealth Advisors LLC NC Existing -2,277-$70
Asset Management Group Inc. Existing +13+$29
Van Den Berg Management I Inc. Existing UNCH+$1
Mendon Capital Advisors Corp Existing +100,000+$3,308
NewGen Asset Management Ltd Existing -5,000-$199
Hsbc Holdings PLC Existing -261,578-$8,519
Kestra Advisory Services LLC Existing +41,200+$3,606
Aggregate Change: -1,638,197-$58,568

In terms of shares owned, we count 7 of the above funds having increased existing XLF positions from 12/31/2023 to 03/31/2024, with 5 having decreased their positions and 1 new position. Worth noting is that EHP Funds Inc., and NewGen Asset Management Ltd, included in this recent batch of 13F filers, exited XLF common stock as of 03/31/2024.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the XLF share count in the aggregate among all of the funds which held XLF at the 03/31/2024 reporting period (out of the 5,547 we looked at in total). We then compared that number to the sum total of XLF 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 XLF. We found that between these two periods, funds increased their holdings by 23,830,450 shares in the aggregate, from 461,503,937 up to 485,334,387 for a share count increase of approximately 5.16%. The overall top three funds holding XLF on 03/31/2024 were:

»FundShares of XLF Held
1.JPMorgan Chase & Co. 144,130,208
2.UBS Group AG 17,240,203
3.National Bank of Canada FI 13,491,011
4-10Find out the full Top 10 Hedge Funds Holding XLF»

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: XLF).

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Also see:

• ETFs Holding VIPS
• BAC Stock Predictions
• CEPU YTD Return

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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