Joel Kornblau - Tuesday, April 11, 10:19 AMAt Holdings Channel, we have reviewed the latest batch of the 20 most recent 13F filings for the 03/31/2023 reporting period, and noticed that Exxon Mobil Corp (XOM) was held by 13 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 XOM positions, for this latest batch of 13F filers:
Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
---|---|---|---|
BCS Wealth Management | Existing | -10,500 | -$1,161 |
Northstar Advisory Group LLC | Existing | +139 | +$3 |
Mosaic Family Wealth Partners LLC | Existing | +27 | $UNCH |
Level Financial Advisors Inc. | Existing | -90 | -$21 |
Trinity Financial Advisors LLC | Existing | -588 | -$74 |
McNamara Financial Services Inc. | Existing | UNCH | -$3 |
Northside Capital Management LLC | Existing | +779 | +$82 |
Gagnon Securities LLC | Existing | -694 | -$83 |
Tradewinds Capital Management LLC | Existing | +104 | +$11 |
TFB Advisors LLC | Existing | +347 | +$37 |
Caliber Wealth Management LLC | Existing | -157 | -$30 |
IAM Advisory LLC | Existing | -165 | -$21 |
Summit Financial Wealth Advisors LLC | Existing | +20,700 | +$2,258 |
Aggregate Change: | +9,902 | +$998 |
In terms of shares owned, we count 6 of the above funds having increased existing XOM positions from 12/31/2022 to 03/31/2023, with 6 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the XOM share count in the aggregate among all of the funds which held XOM at the 03/31/2023 reporting period (out of the 176 we looked at in total). We then compared that number to the sum total of XOM shares those same funds held back at the 12/31/2022 period, to see how the aggregate share count held by hedge funds has moved for XOM. We found that between these two periods, funds reduced their holdings by 6,064 shares in the aggregate, from 5,762,566 down to 5,756,502 for a share count decline of approximately -0.11%. The overall top three funds holding XOM on 03/31/2023 were:
» | Fund | Shares of XOM Held |
---|---|---|
1. | Empowered Funds LLC | 824,833 |
2. | Greylin Investment Management Inc | 588,692 |
3. | BancFirst Trust & Investment Management | 318,955 |
4-10 | Find out the full Top 10 Hedge Funds Holding XOM | » |
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 Exxon Mobil Corp (XOM).
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