Joel Kornblau - Tuesday, April 16, 9:31 AMAt Holdings Channel, we have reviewed the latest batch of the 20 most recent 13F filings for the 03/31/2024 reporting period, and noticed that Costco Wholesale Corp (COST) was held by 14 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 COST positions, for this latest batch of 13F filers:
Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
---|---|---|---|
Ellis Investment Partners LLC | Existing | +13 | +$189 |
Clarity Financial LLC | Existing | +92 | +$1,939 |
DGS Capital Management LLC | Existing | +189 | +$168 |
Peterson Wealth Advisors LLC | Existing | -203 | -$105 |
Revolve Wealth Partners LLC | Existing | +120 | +$152 |
Northeast Financial Group Inc. | Existing | -823 | -$513 |
Matrix Asset Advisors Inc. NY | Existing | UNCH | +$40 |
Aspiriant LLC | Existing | +134 | +$257 |
St. Johns Investment Management Company LLC | Existing | +212 | +$266 |
Cascade Wealth Advisors Inc | NEW | +460 | +$336 |
Bowman & Co S.C. | NEW | +299 | +$219 |
Aletheian Wealth Advisors LLC | Existing | +516 | +$481 |
Key Client Fiduciary Advisors LLC | Existing | +121 | +$135 |
GoalVest Advisory LLC | Existing | +47 | +$57 |
Aggregate Change: | +1,177 | +$3,621 |
In terms of shares owned, we count 9 of the above funds having increased existing COST positions from 12/31/2023 to 03/31/2024, with 2 having decreased their positions and 2 new positions. Worth noting is that G&S Capital LLC, included in this recent batch of 13F filers, exited COST common stock as of 03/31/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the COST share count in the aggregate among all of the funds which held COST at the 03/31/2024 reporting period (out of the 487 we looked at in total). We then compared that number to the sum total of COST 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 COST. We found that between these two periods, funds increased their holdings by 631,661 shares in the aggregate, from 2,452,113 up to 3,083,774 for a share count increase of approximately 25.76%. The overall top three funds holding COST on 03/31/2024 were:
» | Fund | Shares of COST Held |
---|---|---|
1. | Global Assets Advisory LLC | 696,604 |
2. | Los Angeles Capital Management LLC | 291,530 |
3. | Congress Asset Management Co. MA | 277,971 |
4-10 | Find out the full Top 10 Hedge Funds Holding COST | » |
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 Costco Wholesale Corp (COST).
Free COST Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |