At Holdings Channel, we have reviewed the latest batch of the 20 most recent 13F filings for the 06/30/2023 reporting period, and noticed that United Parcel Service Inc (Symbol: UPS) was held by 9 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 UPS positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000's) |
|---|---|---|---|
| Value Partners Investments Inc. | Existing | +1,605 | -$5,089 |
| International Assets Investment Management LLC | NEW | +92,034 | +$16,497 |
| Gleason Group Inc. | Existing | +60 | -$80 |
| JLB & Associates Inc. | Existing | +953 | -$49 |
| Tradewinds Capital Management LLC | Existing | +1 | -$88 |
| Mill Capital Management LLC | Existing | -837 | -$380 |
| Allred Capital Management LLC | Existing | -904 | -$244 |
| Newton One Investments LLC | Existing | UNCH | -$1 |
| Viking Fund Management LLC | NEW | +18,000 | +$3,226 |
| Aggregate Change: | +110,912 | +$13,792 | |
In terms of shares owned, we count 4 of the above funds having increased existing UPS positions from 03/31/2023 to 06/30/2023, with 2 having decreased their positions and 2 new positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the UPS share count in the aggregate among all of the funds which held UPS at the 06/30/2023 reporting period (out of the 1,088 we looked at in total). We then compared that number to the sum total of UPS shares those same funds held back at the 03/31/2023 period, to see how the aggregate share count held by hedge funds has moved for UPS. We found that between these two periods, funds reduced their holdings by 200,963 shares in the aggregate, from 10,520,228 down to 10,319,265 for a share count decline of approximately -1.91%. The overall top three funds holding UPS on 06/30/2023 were:
| » | Fund | Shares of UPS Held |
|---|---|---|
| 1. | Nordea Investment Management AB | 672,655 |
| 2. | Hamlin Capital Management LLC | 587,801 |
| 3. | Sarasin & Partners LLP | 455,755 |
| 4-10 | Find out the full Top 10 Hedge Funds Holding UPS | » |
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 United Parcel Service Inc (Symbol: UPS).
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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.
