At Holdings Channel, we have reviewed the latest batch of the 28 most recent 13F filings for the 09/30/2024 reporting period, and noticed that Eli Lilly (Symbol: LLY) was held by 11 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 LLY positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| PNC Financial Services Group Inc. | Existing | -44,106 | -$1,038,386 |
| Parnassus Investments LLC | Existing | +318 | +$241 |
| B. Metzler seel. Sohn & Co. Holding AG | NEW | +96,903 | +$85,849 |
| Banque Cantonale Vaudoise | Existing | -645 | -$1,021 |
| SouthState Corp | Existing | -750 | -$896 |
| Vance Wealth Inc. | Existing | UNCH | -$8 |
| Summit Wealth Group LLC | Existing | UNCH | -$8 |
| FWG Holdings LLC | Existing | -407 | -$323 |
| Alliance Wealth Advisors LLC UT | Existing | +8 | -$17 |
| MAS Advisors LLC | Existing | -15 | -$20 |
| Phoenix Wealth Advisors | Existing | UNCH | -$9 |
| Aggregate Change: | +51,306 | -$954,598 | |
In terms of shares owned, we count 2 of the above funds having increased existing LLY positions from 06/30/2024 to 09/30/2024, with 5 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 LLY share count in the aggregate among all of the funds which held LLY at the 09/30/2024 reporting period (out of the 3,759 we looked at in total). We then compared that number to the sum total of LLY shares those same funds held back at the 06/30/2024 period, to see how the aggregate share count held by hedge funds has moved for LLY. We found that between these two periods, funds increased their holdings by 14,377,726 shares in the aggregate, from 153,132,813 up to 167,510,539 for a share count increase of approximately 9.39%. The overall top three funds holding LLY on 09/30/2024 were:
| » | Fund | Shares of LLY Held |
|---|---|---|
| 1. | Lilly Endowment Inc. | 96,891,978 |
| 2. | International Assets Investment Management LLC | 12,463,182 |
| 3. | Dimensional Fund Advisors LP | 3,654,834 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding LLY | » |
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 Eli Lilly (Symbol: LLY).
10 S&P 500 Components Hedge Funds Are Buying »
Also see:
GPP Options Chain
OCSL Average Annual Return
MCHX YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
