At Holdings Channel, we have reviewed the latest batch of the 22 most recent 13F filings for the 09/30/2024 reporting period, and noticed that Apple Inc (Symbol: AAPL) was held by 18 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 AAPL positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000’s) |
|---|---|---|---|
| CWA Asset Management Group LLC | NEW | +510,355 | +$118,913 |
| Equitable Trust Co. | Existing | +928 | +$5,095 |
| AEGON ASSET MANAGEMENT UK Plc | Existing | +104,457 | +$78,270 |
| Source Financial Advisors LLC | Existing | +199 | +$472 |
| Beckerman Institutional LLC | NEW | +5,923 | +$1,380 |
| Leavell Investment Management Inc. | Existing | +18,861 | +$9,775 |
| Fiera Capital Corp | Existing | –420 | +$597 |
| Easterly Investment Partners LLC | Existing | UNCH | +$185 |
| Triune Financial Partners LLC | NEW | +980 | +$228 |
| Skylands Capital LLC | Existing | –21,470 | –$1,096 |
| Retirement Solution LLC | Existing | +20,467 | +$5,046 |
| Eos Management L.P. | Existing | –8,756 | –$415 |
| Costello Asset Management INC | Existing | +620 | +$309 |
| Avid Wealth Partners LLC | Existing | +365 | +$159 |
| Ted Buchan & Co | Existing | –181 | +$63 |
| Rocky Mountain Advisers LLC | Existing | +1 | +$151 |
| Transcendent Capital Group LLC | Existing | –12,902 | –$1,728 |
| Houlihan Financial Resource Group Ltd. | Existing | –109 | +$393 |
| Aggregate Change: | +619,318 | +$217,797 | |
In terms of shares owned, we count 8 of the above funds having increased existing AAPL positions from 06/30/2024 to 09/30/2024, with 6 having decreased their positions and 3 new positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the AAPL share count in the aggregate among all of the funds which held AAPL at the 09/30/2024 reporting period (out of the 2,790 we looked at in total). We then compared that number to the sum total of AAPL 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 AAPL. We found that between these two periods, funds increased their holdings by 103,801,233 shares in the aggregate, from 582,505,805 up to 686,307,038 for a share count increase of approximately 17.82%. The overall top three funds holding AAPL on 09/30/2024 were:
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 Apple Inc (Symbol: AAPL).
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