At Holdings Channel, the latest batch of 13F filings for the 12/31/2023 reporting period presents an interesting trend: Advanced Micro Devices Inc (Symbol: AMD) is being held by 8 out of 20 funds. When hedge fund managers appear to be thinking alike, it’s time to pay attention.
Before delving any deeper, it’s essential to note that 13F filings tell only part of the story. These funds are only required to disclose their long positions with the SEC, not their short positions. A fund making a bearish bet against a stock 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, giving a misleading impression of bullishness.
Analyzing groups of 13F filings can be revealing, especially when comparing one holding period to another. Let’s take a closer look at the change in AMD positions for this latest batch of 13F filers.
In terms of shares owned, 3 of the above funds increased existing AMD positions from 09/30/2023 to 12/31/2023, while 3 decreased their positions and 2 new positions emerged.
Looking beyond these particular funds, we calculated the aggregate AMD share count among all of the funds holding AMD at the 12/31/2023 reporting period. Comparing this number to the share count back at the 09/30/2023 period, we found that between these two periods, funds increased their holdings by 1,426,662 shares in the aggregate, from 108,390,141 up to 109,816,803 for a share count increase of approximately 1.32%. The overall top three funds holding AMD on 12/31/2023 were:
We’ll continue to track the latest 13F filings by hedge fund managers and bring you interesting stories derived from an aggregate look at the information across groups of managers between filing periods. While 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 Advanced Micro Devices Inc (Symbol: AMD).
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