At Holdings Channel, we now have reviewed the newest batch of the 24 most up-to-date 13F filings for the 03/31/2024 reporting interval, and observed that Financial institution of America Corp (Image: BAC) was held by 20 of those funds. When hedge fund managers look like considering alike, we discover it’s a good suggestion to take a more in-depth look.
Earlier than we proceed, you will need to level out that 13F filings don’t inform the entire story, as a result of these funds are solely required to reveal their lengthy positions with the SEC, however should not required to reveal their brief positions. A fund making a bearish guess towards a inventory by shorting calls, for instance, may also be lengthy some quantity of inventory as they commerce round their general bearish place. This lengthy part may present up in a 13F submitting and everybody would possibly assume the fund is bullish, however this tells solely a part of the story as a result of the bearish/brief facet of the place shouldn’t be seen.
Having provided that caveat, we imagine that taking a look at teams of 13F filings could be revealing, particularly when evaluating one holding interval to a different. Under, let’s check out the change in BAC positions, for this newest batch of 13F filers:
When it comes to shares owned, we depend 8 of the above funds having elevated present BAC positions from 12/31/2023 to 03/31/2024, with 10 having decreased their positions.
Wanting past these explicit funds on this one batch of most up-to-date filers, we tallied up the BAC share depend within the mixture amongst all of the funds which held BAC on the 03/31/2024 reporting interval (out of the 487 we checked out in complete). We then in contrast that quantity to the sum complete of BAC shares those self same funds held again on the 12/31/2023 interval, to see how the mixture share depend held by hedge funds has moved for BAC. We discovered that between these two durations, funds lowered their holdings by 619,613 shares within the mixture, from 31,211,075 all the way down to 30,591,462 for a share depend decline of roughly -1.99%. The general prime three funds holding BAC on 03/31/2024 had been:
We’ll maintain following the latest 13F filings by hedge fund managers and produce you attention-grabbing tales derived from a have a look at the mixture info throughout teams of managers between submitting durations. Whereas taking a look at particular person 13F filings can typically be deceptive because of the long-only nature of the data, the sum complete throughout teams of funds from one reporting interval to a different could be a lot extra revealing and related, offering attention-grabbing inventory concepts that advantage additional analysis, like Financial institution of America Corp (Image: BAC).
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
