Upon delving into the latest 13F filings for the 09/30/2024 reporting period, an intriguing pattern emerges – 13 funds have retained stakes in United Parcel Service Inc (Symbol: UPS). When hedge fund heavyweights march to the same drumbeat, it behooves investors to sit up and take notice.
It’s essential to bear in mind that 13F filings, while informative, paint an incomplete picture. Hedge funds are mandated to reveal their long positions to the SEC but are not obliged to disclose short positions. Thus, a fund could be bearish on a stock while also holding a long position, a facet that remains unseen in 13F filings.
Despite this limitation, scrutinizing groups of 13F filings can offer valuable insights, particularly when comparing different holding periods. Let’s embark on an analysis of the alteration in UPS positions among this recent cohort of 13F filers:
Examining the share ownership landscape, we observe that 7 funds bolstered their existing UPS positions from 06/30/2024 to 09/30/2024, whereas 3 curtailed their stakes, with 1 fund initiating a new position. Noteworthy is the departure of RFP Financial Group LLC from UPS common stock as of 09/30/2024 within this cadre.
Expanding our purview beyond this specific group of funds to encompass all entities that held UPS by the 09/30/2024 reporting period (from the 1,382 scrutinized in total), we tallied the aggregate UPS share count. This sum was juxtaposed with the combined UPS shares these funds held during the 06/30/2024 period, unveiling a surge in holdings by 1,164,495 shares overall. The aggregate shares held by hedge funds surged from 16,442,874 up to 17,607,369, marking a share count escalation of approximately 7.08%. The top three funds holding UPS by 09/30/2024 were:
We’ll diligently monitor the latest 13F filings from hedge fund managers, unearthing compelling narratives derived from aggregating information across manager cohorts between filing periods. While individual 13F filings may sometimes mislead due to their long-only nature, the cumulative data across groups of funds from one reporting period to the next can yield profound insights and stock prospects that warrant further investigation, such as United Parcel Service Inc (Symbol: UPS).
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