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Quick Summary
- 14 funds disclosed holdings in iShares Trust – iShares Core US Aggregate Bond ETF (AGG) in the latest 13F filings for the 09/30/2024 period.
- While 13F filings only show long positions, analyzing aggregate changes can offer insights into fund manager sentiment.
- In the 09/30/2024 reporting period, a total of 1,215 funds held AGG, with an aggregate increase of 2,653,405 shares compared to the previous quarter.
- This indicates a net bullish sentiment towards AGG among the surveyed hedge funds, with holdings increasing by approximately 3.34%.
Review of Recent 13F Filings for AGG
Holdings Channel has analyzed the most recent batch of 13F filings, covering the 09/30/2024 reporting period. A notable observation from this review of 27 filings is the significant attention paid to the iShares Trust – iShares Core US Aggregate Bond ETF, identified by the symbol AGG. A total of 14 funds reported holding this ETF, prompting a closer examination of this trend.
It is crucial to understand the limitations of 13F filings. These reports are mandated to disclose only a fund’s long positions to the SEC, with no requirement to disclose short positions. For instance, a fund might establish a bearish outlook on a stock through short call options but simultaneously hold a long position in the underlying stock. This long component could appear in a 13F filing, potentially leading to a misinterpretation of the fund’s overall strategy if the short side of the position remains undisclosed.
Analyzing AGG Position Changes
Acknowledging the aforementioned caveat, examining groups of 13F filings, particularly when comparing changes across reporting periods, can provide valuable strategic insights. The following table details the shifts in AGG positions among the analyzed funds for the latest filing period:
| Fund | New Position? | Change In Share Count | Change In Market Value (in thousands) |
|---|---|---|---|
| Commonwealth Equity Services LLC | Existing | −19,639 | +$6,391 |
| Vannoy Advisory Group Inc. | Existing | +234 | +$70 |
| Alpha Financial Advisors LLC | Existing | +196 | +$43 |
| Legacy Financial Strategies LLC | Existing | +42,334 | +$5,723 |
| ST Germain D J Co. Inc. | Existing | +255 | +$26 |
| Raymond James & Associates | Existing | +2,376,267 | +$529,138 |
| Slow Capital Inc. | Existing | +1,844 | +$577 |
| Avion Wealth | Existing | −1,534 | −$84 |
| Burney Co. | Existing | −49 | +$19 |
| SVB Wealth LLC | Existing | −537,575 | −$51,323 |
| Range Financial Group LLC | Existing | +995 | +$157 |
| All Season Financial Advisors Inc. | Existing | −7,189 | −$596 |
| Truefg LLC | Existing | +113 | +$35 |
| Raymond James Financial Services Advisors Inc. | Existing | −57,535 | +$15,344 |
| Aggregate Change: | +1,798,717 | +$505,520 | |
Analyzing the share count changes within this specific group, 8 funds increased their existing AGG positions between 06/30/2024 and 09/30/2024, while 6 funds decreased their holdings. It is also noteworthy that Continuum Wealth Advisors LLC, part of this recent filing batch, completely exited its common stock position in AGG as of 09/30/2024.
Aggregate AGG Holdings Across All Funds
Moving beyond this subset of recent filers, we examined the aggregate AGG share count across all funds that held the ETF as of the 09/30/2024 reporting period. Out of a total of 1,215 funds reviewed, we compared this number to the total AGG shares held by the same funds at the 06/30/2024 period. This analysis reveals a meaningful shift in aggregate hedge fund holdings for AGG.
Between these two periods, the surveyed funds collectively increased their AGG holdings by 2,653,405 shares. The total share count rose from 79,449,048 to 82,102,453, representing an approximate 3.34% increase in aggregate share count. This trend suggests a net increase in bullish sentiment towards AGG among hedge funds during this period.
Final Thoughts
The continuous monitoring of latest 13F filings by hedge fund managers offers valuable insights. While individual filings may present a limited view due to their long-only nature, analyzing aggregate data across groups of funds and comparing changes between reporting periods can uncover more significant trends and potential investment ideas that warrant further investigation, as seen with the iShares Trust – iShares Core US Aggregate Bond Exchange Traded Fund (AGG).
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