At Holdings Channel, we have reviewed the latest batch of the 27 most recent 13F filings for the 09/30/2024 reporting period, and noticed that iShares Trust - iShares Russell 2000 ETF (Symbol: IWM) was held by 12 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 IWM positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Valued Wealth Advisors LLC | Existing | UNCH | $UNCH |
| Creative Financial Designs Inc. ADV | Existing | +14 | +$9 |
| Principal Securities Inc. | Existing | +10,044 | +$2,305 |
| Penobscot Wealth Management | Existing | +798 | +$200 |
| Stephens Inc. AR | Existing | -2,508 | +$1,093 |
| Forte Asset Management LLC | Existing | +91 | +$272 |
| Summit Wealth Partners LLC | Existing | -821 | +$430 |
| LCM Capital Management Inc | Existing | +1,936 | +$1,611 |
| ForthRight Wealth Management LLC | Existing | -195 | -$19 |
| Reston Wealth Management LLC | NEW | +157 | +$35 |
| Baron Silver Stevens Financial Advisors LLC | Existing | UNCH | +$20 |
| Drexel Morgan & Co. | Existing | UNCH | +$52 |
| Aggregate Change: | +9,516 | +$6,008 | |
In terms of shares owned, we count 5 of the above funds having increased existing IWM positions from 06/30/2024 to 09/30/2024, with 3 having decreased their positions and 1 new position. Worth noting is that New York State Common Retirement Fund, included in this recent batch of 13F filers, exited IWM common stock as of 09/30/2024.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the IWM share count in the aggregate among all of the funds which held IWM at the 09/30/2024 reporting period (out of the 2,158 we looked at in total). We then compared that number to the sum total of IWM 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 IWM. We found that between these two periods, funds increased their holdings by 2,853,358 shares in the aggregate, from 20,735,177 up to 23,588,535 for a share count increase of approximately 13.76%. The overall top three funds holding IWM on 09/30/2024 were:
| » | Fund | Shares of IWM Held |
|---|---|---|
| 1. | International Assets Investment Management LLC | 2,832,878 |
| 2. | Raymond James Financial Services Advisors Inc. | 1,082,827 |
| 3. | Raymond James & Associates | 900,716 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding IWM | » |
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 iShares Trust - iShares Russell 2000 ETF (Symbol: IWM).
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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.
