At Holdings Channel, we’ve got reviewed the most recent batch of the 38 most up-to-date 13F filings for the 03/31/2024 reporting interval, and observed that SPDR Gold Belief (Image: GLD) was held by 14 of those funds. When hedge fund managers look like considering alike, we discover it’s a good suggestion to take a better 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 are usually not required to reveal their quick positions. A fund making a bearish guess towards a inventory by shorting calls, for instance, may additionally be lengthy some quantity of inventory as they commerce round their total 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/quick aspect of the place will not be seen.
Having provided that caveat, we imagine that taking a look at teams of 13F filings may be revealing, particularly when evaluating one holding interval to a different. Beneath, let’s check out the change in GLD positions, for this newest batch of 13F filers:
When it comes to shares owned, we depend 2 of the above funds having elevated current GLD positions from 12/31/2023 to 03/31/2024, with 4 having decreased their positions and a pair of new positions.
Trying past these specific funds on this one batch of most up-to-date filers, we tallied up the GLD share depend within the mixture amongst all of the funds which held GLD on the 03/31/2024 reporting interval (out of the 1,896 we checked out in whole). We then in contrast that quantity to the sum whole of GLD 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 GLD. We discovered that between these two durations, funds diminished their holdings by 96,523 shares within the mixture, from 14,339,764 all the way down to 14,243,241 for a share depend decline of roughly -0.67%. The general prime three funds holding GLD on 03/31/2024 have been:
We’ll hold 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 durations. Whereas taking a look at particular person 13F filings can generally be deceptive because of the long-only nature of the knowledge, the sum whole throughout teams of funds from one reporting interval to a different generally is a lot extra revealing and related, offering attention-grabbing inventory concepts that benefit additional analysis, like SPDR Gold Belief (Image: GLD).
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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.
