At Holdings Channel, we now have reviewed the most recent batch of the 29 most up-to-date 13F filings for the 03/31/2024 reporting interval, and seen that The Cigna Group (Image: CI) was held by 12 of those funds. When hedge fund managers seem like pondering alike, we discover it’s a good suggestion to take a better look.
Earlier than we proceed, it is very important 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 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 element might 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 just isn’t seen.
Having provided that caveat, we imagine that taking a look at teams of 13F filings will be revealing, particularly when evaluating one holding interval to a different. Beneath, let’s check out the change in CI positions, for this newest batch of 13F filers:
| Fund | New Place? | Change In Share Depend | Change In Market Worth ($ in 1000’s) |
|---|---|---|---|
| Russell Investments Group Ltd. | Current | –40,076 | +$30,804 |
| Achmea Investment Management B.V. | Current | –8,517 | +$1,088 |
| Great Lakes Advisors LLC | Current | –358 | –$13 |
| Unigestion Holding SA | Current | –74,524 | –$21,296 |
| KBC Group NV | Current | +106,777 | +$55,018 |
| Cypress Capital Group | Current | –33 | +$214 |
| Stevens Capital Management LP | Current | –6,475 | –$1,800 |
| Sandy Spring Bank | Current | –567 | +$516 |
| Gitterman Wealth Management LLC | Current | +106 | +$95 |
| Ruffer LLP | Current | +13,874 | +$29,305 |
| Institutional & Family Asset Management LLC | Current | –8 | +$3 |
| North Star Asset Management Inc. | Current | –20 | +$55 |
| Combination Change: | –9,821 | +$93,989 | |
When it comes to shares owned, we rely 3 of the above funds having elevated present CI positions from 12/31/2023 to 03/31/2024, with 9 having decreased their positions.
Wanting past these explicit funds on this one batch of most up-to-date filers, we tallied up the CI share rely within the mixture amongst all of the funds which held CI on the 03/31/2024 reporting interval (out of the three,407 we checked out in complete). We then in contrast that quantity to the sum complete of CI shares those self same funds held again on the 12/31/2023 interval, to see how the combination share rely held by hedge funds has moved for CI. We discovered that between these two durations, funds elevated their holdings by 446,003 shares within the mixture, from 22,894,404 as much as 23,340,407 for a share rely improve of roughly 1.95%. The general prime three funds holding CI on 03/31/2024 had been:
We’ll maintain following the latest 13F filings by hedge fund managers and produce you fascinating tales derived from a take a look at the combination 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 data, the sum complete throughout teams of funds from one reporting interval to a different generally is a lot extra revealing and related, offering fascinating inventory concepts that benefit additional analysis, like The Cigna Group (Image: CI).
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
