At Holdings Channel, we now have reviewed the newest batch of the 22 most up-to-date 13F filings for the 03/31/2024 reporting interval, and observed that RTX Corp (Image: RTX) was held by 12 of those funds. When hedge fund managers seem 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 in opposition to 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 element might present up in a 13F submitting and everybody may assume the fund is bullish, however this tells solely a part of the story as a result of the bearish/brief aspect of the place isn’t seen.
Having on condition that caveat, we consider that taking a look at teams of 13F filings could be revealing, particularly when evaluating one holding interval to a different. Beneath, let’s check out the change in RTX positions, for this newest batch of 13F filers:
| Fund | New Place? | Change In Share Rely | Change In Market Worth ($ in 1000’s) |
|---|---|---|---|
| Focused Investors Fund L P | NEW | +826,350 | +$80,594 |
| Tritonpoint Wealth LLC | Present | –1,182 | +$459 |
| Bogart Wealth LLC | Present | –157 | +$7 |
| Allworth Financial LP | Present | +1,907 | +$647 |
| Alta Capital Management LLC | Present | –4,414 | +$2,235 |
| Bear Mountain Capital Inc. | Present | UNCH | +$5 |
| Jacobsen Capital Management | Present | –3 | +$52 |
| Lindbrook Capital LLC | Present | +1,295 | +$331 |
| Simplex Trading LLC | Present | –2,790 | –$6,129 |
| New York State Teachers Retirement System | Present | –148,230 | +$4,535 |
| Horrell Capital Management Inc. | Present | UNCH | +$2 |
| One Day In July LLC | NEW | +2,114 | +$206 |
| Mixture Change: | +674,890 | +$82,944 | |
By way of shares owned, we depend 2 of the above funds having elevated current RTX positions from 12/31/2023 to 03/31/2024, with 6 having decreased their positions and a pair of new positions. Price noting is that Meridian Wealth Management LLC, included on this latest batch of 13F filers, exited RTX frequent inventory as of 03/31/2024.
Wanting past these explicit funds on this one batch of most up-to-date filers, we tallied up the RTX share depend within the mixture amongst all of the funds which held RTX on the 03/31/2024 reporting interval (out of the 1,753 we checked out in complete). We then in contrast that quantity to the sum complete of RTX 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 RTX. We discovered that between these two intervals, funds decreased their holdings by 875,609 shares within the mixture, from 36,896,622 all the way down to 36,021,013 for a share depend decline of roughly -2.37%. The general prime three funds holding RTX on 03/31/2024 had been:
We’ll preserve following the latest 13F filings by hedge fund managers and convey you attention-grabbing tales derived from a have a look at the mixture data throughout teams of managers between submitting intervals. Whereas taking a look at particular person 13F filings can generally be deceptive because of the long-only nature of the knowledge, 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 benefit additional analysis, like RTX Corp (Image: RTX).
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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.
