At Holdings Channel, we have reviewed the latest batch of the 24 most recent 13F filings for the 12/31/2024 reporting period, and noticed that Intuitive Surgical Inc (Symbol: ISRG) was held by 14 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 ISRG positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Perissos Private Wealth Management LLC | Existing | +5 | +$32 |
| Financial Connections Group Inc. | Existing | UNCH | +$2 |
| Azzad Asset Management Inc. ADV | Existing | -17 | -$8 |
| MeadowBrook Investment Advisors LLC | Existing | UNCH | +$3 |
| TFB Advisors LLC | Existing | -8 | +$49 |
| Capital Advisors Inc. OK | Existing | +1,858 | +$4,895 |
| Certuity LLC | Existing | +602 | +$354 |
| Indiana Trust & Investment Management Co | Existing | UNCH | +$15 |
| Beacon Financial Group | Existing | -7 | +$32 |
| Legato Capital Management LLC | Existing | UNCH | +$185 |
| Avion Wealth | Existing | +27 | +$43 |
| Allspring Global Investments Holdings LLC | Existing | -30,690 | -$2,246 |
| Marks Group Wealth Management Inc | Existing | -82 | +$300 |
| Davidson Capital Management Inc. | Existing | -1 | $UNCH |
| Aggregate Change: | -28,313 | +$3,656 | |
In terms of shares owned, we count 4 of the above funds having increased existing ISRG positions from 09/30/2024 to 12/31/2024, with 6 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the ISRG share count in the aggregate among all of the funds which held ISRG at the 12/31/2024 reporting period (out of the 2,200 we looked at in total). We then compared that number to the sum total of ISRG 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 ISRG. We found that between these two periods, funds reduced their holdings by 814,294 shares in the aggregate, from 15,712,126 down to 14,897,832 for a share count decline of approximately -5.18%. The overall top three funds holding ISRG on 12/31/2024 were:
| » | Fund | Shares of ISRG Held |
|---|---|---|
| 1. | Jennison Associates LLC | 2,811,315 |
| 2. | Assenagon Asset Management S.A. | 1,571,273 |
| 3. | Sumitomo Mitsui Trust Group Inc. | 1,523,863 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding ISRG | » |
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 Intuitive Surgical Inc (Symbol: ISRG).
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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.
