At Holdings Channel, we have reviewed the latest batch of the 25 most recent 13F filings for the 12/31/2024 reporting period, and noticed that AbbVie Inc (Symbol: ABBV) was held by 15 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 ABBV positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Murphy Middleton Hinkle & Parker Inc. | Existing | UNCH | -$31 |
| Steigerwald Gordon & Koch Inc. | Existing | -107 | -$86 |
| Lbmc Investment Advisors LLC | Existing | +1 | -$57 |
| Arbor Trust Wealth Advisors LLC | Existing | -622 | -$1,023 |
| Cascade Investment Group Inc. | Existing | -170 | -$172 |
| Kaydan Wealth Management Inc. | Existing | +4 | -$22 |
| Grove Bank & Trust | Existing | +282 | -$204 |
| Brady Martz Wealth Solutions LLC | NEW | +6,001 | +$1,054 |
| Ballast Inc. | Existing | -2 | -$62 |
| Cambridge Advisors Inc. | Existing | +104 | -$155 |
| Bernardo Wealth Planning LLC | Existing | +19 | -$20 |
| Delta Capital Management LLC | Existing | -40 | -$202 |
| Renaissance Investment Group LLC | Existing | -555 | -$339 |
| My Legacy Advisors LLC | Existing | -323 | -$204 |
| Artemis Investment Management LLP | Existing | +417,839 | +$72,945 |
| Aggregate Change: | +422,431 | +$71,422 | |
In terms of shares owned, we count 6 of the above funds having increased existing ABBV positions from 09/30/2024 to 12/31/2024, with 7 having decreased their positions and 1 new position.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the ABBV share count in the aggregate among all of the funds which held ABBV at the 12/31/2024 reporting period (out of the 685 we looked at in total). We then compared that number to the sum total of ABBV shares those same funds held back at the 09/30/2024 period, to see how the aggregate share count held by hedge funds has moved for ABBV. We found that between these two periods, funds reduced their holdings by 3,942,166 shares in the aggregate, from 19,268,223 down to 15,326,057 for a share count decline of approximately -20.46%. The overall top three funds holding ABBV on 12/31/2024 were:
| » | Fund | Shares of ABBV Held |
|---|---|---|
| 1. | Nordea Investment Management AB | 2,993,734 |
| 2. | Assenagon Asset Management S.A. | 1,988,986 |
| 3. | Wealth Enhancement Advisory Services LLC | 567,362 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding ABBV | » |
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 AbbVie Inc (Symbol: ABBV).
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Also see:
Funds Holding PFF
Top Ten Hedge Funds Holding INSG
Institutional Holders of CRZN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
