See Which Of The Latest 13F Filers Holds QQQ

At Holdings Channel, we have reviewed the latest batch of the 147 most recent 13F filings for the 06/30/2024 reporting period, and noticed that Invesco QQQ Trust (Symbol: QQQ) was held by 39 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 QQQ positions, for this latest batch of 13F filers: FundNew Position?Change In Share CountChange In Market Value ($ in 1000's)Sonoma Private Wealth LLCNEW+453+$217Interval Partners LPExisting-1,294-$65,858American Investment Services Inc.Existing+85+$1,201Quantinno Capital Management LPExisting+5,290+$3,641Valiant Capital Management L.P.Existing+41,000+$3,638Bienville Capital Management LLCExisting-695-$221Pinnacle Family Advisors LLCExisting-7,004-$2,429Charter Research & Investment Group Inc.ExistingUNCH+$46Eagle Global Advisors LLCExisting-494+$1,299Bank Julius Baer & Co. Ltd ZurichExisting-40,141-$7,190J. Goldman & Co LPExisting-2,939-$209Western Pacific Wealth Management LPExistingUNCH+$8Tidal Investments LLCExisting+9,968+$5,125Iron Gate Global Advisors LLCExisting-73+$771Regent Peak Wealth Advisors LLCExisting-104+$50Coastwise Capital Group LLCExisting-67+$56LMR Partners LLPExisting-2,965,227-$1,419,576Cartenna Capital LPNEW+75,000+$35,933Concentric Capital Strategies LPExistingUNCH-$1,756Silvercrest Asset Management Group LLCNEW+22,134+$10,604Centiva Capital LPExisting-373,588-$176,772Hamilton Capital LLCExisting-11+$33TD Private Client Wealth LLCNEW+83,456+$39,985Marks Group Wealth Management IncExisting+128+$109BOK Financial Private Wealth Inc.ExistingUNCH+$33Nicolet Bankshares Inc.Existing+40+$124Moore Capital Management LPExisting+50,900+$16,331Shay Capital LLCExisting-14,200-$7,411Philosophy Capital Management LLCExisting+3,000+$122,673Ceeto Capital Group LLCExistingUNCH+$11Ulysses Management LLCExisting+165,000+$72,384Cladis Investment Advisory LLCExisting+29+$172Kapitalo Investimentos LtdaNEW+2,160+$1,035Cornerstone Advisory LLCExisting+223+$398Little Harbor Advisors LLCExisting+2,100+$1,546Missouri Trust & Investment CoExisting-5+$11Napa Wealth ManagementExisting-24+$211EHP Funds Inc.Existing-52,100-$21,280Blackstone Inc.Existing+150,000+$49,051Aggregate Change:-2,847,000-$1,336,006

In terms of shares owned, we count 13 of the above funds having increased existing QQQ positions from 03/31/2024 to 06/30/2024, with 16 having decreased their positions and 5 new positions. Worth noting is that Zacks Investment Management, Weiss Asset Management LP, Valiant Capital Management L.P., LMR Partners LLP, Concentric Capital Strategies LP, Nishkama Capital LLC, and Infrastructure Capital Advisors LLC, included in this recent batch of 13F filers, exited QQQ common stock as of 06/30/2024.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the QQQ share count in the aggregate among all of the funds which held QQQ at the 06/30/2024 reporting period (out of the 5,241 we looked at in total). We then compared that number to the sum total of QQQ shares those same funds held back at the 03/31/2024 period, to see how the aggregate share count held by hedge funds has moved for QQQ. We found that between these two periods, funds reduced their holdings by 3,186,171 shares in the aggregate, from 126,017,461 down to 122,831,290 for a share count decline of approximately -2.53%. The overall top three funds holding QQQ on 06/30/2024 were: »FundShares of QQQ Held1.LPL Financial LLC8,799,1852.Goldman Sachs Group Inc.6,678,7223.JPMorgan Chase & Co.5,613,2794-10Find out the full Top 10 Hedge Funds Holding QQQ»

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 Invesco QQQ Trust (Symbol: QQQ).

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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.