At Holdings Channel, we have reviewed the latest batch of the 26 most recent 13F filings for the 12/31/2024 reporting period, and noticed that Honeywell International Inc (Symbol: HON) 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 HON positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Merrion Investment Management Co LLC | Existing | UNCH | +$70 |
| New England Research & Management Inc. | Existing | -6,415 | -$1,260 |
| Franklin Parlapiano Turner & Welch LLC | Existing | +204 | +$759 |
| Baader Bank Aktiengesellschaft | NEW | +1,100 | +$248 |
| Baron Wealth Management LLC | Existing | +228 | +$78 |
| Legacy Trust | Existing | -5 | +$47 |
| Strategic Planning Group LLC | Existing | +774 | +$518 |
| Highland Capital Management LLC | Existing | +8,031 | +$1,842 |
| Gries Financial LLC | Existing | -194 | +$118 |
| Ferguson Shapiro LLC | Existing | UNCH | +$32 |
| Aggregate Change: | +3,723 | +$2,452 | |
In terms of shares owned, we count 4 of the above funds having increased existing HON positions from 09/30/2024 to 12/31/2024, with 3 having decreased their positions and 1 new position. Worth noting is that Reston Wealth Management LLC, included in this recent batch of 13F filers, exited HON common stock as of 12/31/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the HON share count in the aggregate among all of the funds which held HON at the 12/31/2024 reporting period (out of the 1,400 we looked at in total). We then compared that number to the sum total of HON 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 HON. We found that between these two periods, funds reduced their holdings by 336,200 shares in the aggregate, from 11,206,964 down to 10,870,764 for a share count decline of approximately -3.00%. The overall top three funds holding HON on 12/31/2024 were:
| » | Fund | Shares of HON Held |
|---|---|---|
| 1. | Nisa Investment Advisors LLC | 565,876 |
| 2. | Fifth Third Bancorp | 532,045 |
| 3. | Meyer Handelman Co. | 408,814 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding HON | » |
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 Honeywell International Inc (Symbol: HON).
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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.
