At Holdings Channel, we have reviewed the latest batch of the 22 most recent 13F filings for the 12/31/2024 reporting period, and noticed that ConocoPhillips (Symbol: COP) 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 COP positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Holistic Planning LLC | Existing | -15 | -$15 |
| Hodges Capital Management Inc. | Existing | -1,190 | -$201 |
| Boston Trust Walden Corp | Existing | -48,773 | -$8,645 |
| Financial Life Planners | NEW | +398 | +$39 |
| Wealthspan Partners LLC | Existing | -259 | -$91 |
| One Wealth Advisors LLC | Existing | +763 | +$62 |
| Leisure Capital Management | Existing | -714 | -$165 |
| Alliance Wealth Advisors LLC UT | Existing | +1,260 | +$100 |
| F&V Capital Management LLC | NEW | +153,135 | +$15,186 |
| Fourpath Capital Management LLC | Existing | -40 | -$39 |
| Aggregate Change: | +104,565 | +$6,231 | |
In terms of shares owned, we count 2 of the above funds having increased existing COP positions from 09/30/2024 to 12/31/2024, with 6 having decreased their positions and 2 new positions. Worth noting is that Jennison Associates LLC, included in this recent batch of 13F filers, exited COP common stock as of 12/31/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the COP share count in the aggregate among all of the funds which held COP at the 12/31/2024 reporting period (out of the 1,610 we looked at in total). We then compared that number to the sum total of COP 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 COP. We found that between these two periods, funds increased their holdings by 2,656,239 shares in the aggregate, from 20,788,496 up to 23,444,735 for a share count increase of approximately 12.78%. The overall top three funds holding COP on 12/31/2024 were:
| » | Fund | Shares of COP Held |
|---|---|---|
| 1. | Pacer Advisors Inc. | 5,235,507 |
| 2. | Assenagon Asset Management S.A. | 4,423,611 |
| 3. | Hamlin Capital Management LLC | 1,566,771 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding COP | » |
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 ConocoPhillips (Symbol: COP).
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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.
