Joel Kornblau - Thursday, April 18, 12:46 PMAt Holdings Channel, we have reviewed the latest batch of the 36 most recent 13F filings for the 03/31/2024 reporting period, and noticed that iShares Trust - Core S&P Small-Cap ETF (IJR) was held by 19 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 IJR positions, for this latest batch of 13F filers:
Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
---|---|---|---|
FF Advisors LLC | Existing | UNCH | +$5 |
Denver Wealth Management Inc. | Existing | +1 | +$6 |
Congress Wealth Management LLC DE | Existing | +20,392 | +$2,477 |
Hexagon Capital Partners LLC | Existing | -180 | -$18 |
Consilio Wealth Advisors LLC | Existing | -935 | +$108 |
Park Place Capital Corp | Existing | +4,376 | +$588 |
Silvia Mccoll Wealth Management LLC | Existing | -135 | -$52 |
O ROURKE & COMPANY Inc | Existing | UNCH | +$7 |
Claro Advisors LLC | Existing | -1,356 | -$125 |
CCG Wealth Management LLC | Existing | -140 | +$131 |
Morris Financial Concepts Inc. | Existing | -3,175 | -$84 |
Miracle Mile Advisors LLC | Existing | -1,497 | -$140 |
Hubbell Strickland Wealth Management LLC | Existing | +712 | +$144 |
MGO Private Wealth LLC | Existing | -576 | -$54 |
Sowa Financial Group Inc. | Existing | UNCH | $UNCH |
Kowal Investment Group LLC | Existing | +177 | +$69 |
HFG Advisors Inc. | Existing | -910 | -$82 |
Financial Life Advisors | Existing | -52 | +$2 |
Oliver Luxxe Assets LLC | Existing | +1,087 | +$140 |
Aggregate Change: | +17,789 | +$3,122 |
In terms of shares owned, we count 6 of the above funds having increased existing IJR positions from 12/31/2023 to 03/31/2024, with 10 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the IJR share count in the aggregate among all of the funds which held IJR at the 03/31/2024 reporting period (out of the 941 we looked at in total). We then compared that number to the sum total of IJR 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 IJR. We found that between these two periods, funds reduced their holdings by 462,612 shares in the aggregate, from 24,196,761 down to 23,734,149 for a share count decline of approximately -1.91%. The overall top three funds holding IJR on 03/31/2024 were:
» | Fund | Shares of IJR Held |
---|---|---|
1. | West Coast Financial LLC | 1,207,293 |
2. | Wealth Enhancement Advisory Services LLC | 1,135,222 |
3. | Acropolis Investment Management LLC | 886,659 |
4-10 | Find out the full Top 10 Hedge Funds Holding IJR | » |
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 iShares Trust - Core S&P Small-Cap ETF (IJR).
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