At Holdings Channel, we have reviewed the latest batch of the 23 most recent 13F filings for the 12/31/2024 reporting period, and noticed that Vanguard Bond Index Funds - Total Bond Market ETF (Symbol: BND) was held by 10 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 BND positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Cornerstone Investment Partners LLC | Existing | -1,443 | -$1,830 |
| Alley Investment Management Company LLC | Existing | +2,701 | -$447 |
| Signify Wealth | Existing | +826 | +$49 |
| Torray Investment Partners LLC | Existing | UNCH | -$52 |
| Exencial Wealth Advisors LLC | Existing | +19,308 | +$1,030 |
| Triad Wealth Partners LLC | Existing | -110,265 | -$8,471 |
| Wealth Advisory Solutions LLC | Existing | -2,491 | -$306 |
| Carrera Capital Advisors | Existing | -24,524 | -$1,974 |
| Crew Capital Management Ltd. | Existing | -322 | -$34 |
| Victory Capital Management Inc. | Existing | +94,112 | +$5,958 |
| Aggregate Change: | -22,098 | -$6,077 | |
In terms of shares owned, we count 4 of the above funds having increased existing BND positions from 09/30/2024 to 12/31/2024, with 5 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the BND share count in the aggregate among all of the funds which held BND at the 12/31/2024 reporting period (out of the 3,463 we looked at in total). We then compared that number to the sum total of BND 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 BND. We found that between these two periods, funds increased their holdings by 6,106,554 shares in the aggregate, from 148,667,197 up to 154,773,751 for a share count increase of approximately 4.11%. The overall top three funds holding BND on 12/31/2024 were:
| » | Fund | Shares of BND Held |
|---|---|---|
| 1. | Allworth Financial LP | 19,321,863 |
| 2. | Bank of New York Mellon Corp | 5,922,090 |
| 3. | Pure Financial Advisors LLC | 5,678,998 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding BND | » |
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 Vanguard Bond Index Funds - Total Bond Market ETF (Symbol: BND).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
