Investors peering into the latest 13F filings have spotted Tesla Inc (Symbol: TSLA) being cradled by 14 hedge funds in their portfolios. In the frenzied realm of finance, when a convergence of hedge fund managers occurs around a single stock, it often sparks a collective gasp and prompts investors to lean in closer.
It’s crucial to exercise caution when deciphering 13F filings since they reveal only the long positions held by funds, concealing their short positions from view. A fund may portray bullish tendencies in its 13F filing while maintaining bearish bets through unreported short positions, leaving observers to misinterpret their overall sentiments.
Nevertheless, delving into clusters of 13F filings can unearth intriguing insights, particularly when juxtaposing different reporting periods. Let’s delve into the shifts in Tesla positions among the latest batch of 13F filers:
Among the aforementioned funds, 7 intensified their existing TSLA holdings from 06/30/2024 to 09/30/2024, whereas 6 downsized their positions during that timeframe.
The analysis also extended beyond this cohort to encompass the aggregate TSLA share count across all funds with holdings in Tesla as of the 09/30/2024 reporting period (out of the 609 total funds scrutinized). A comparison was then made with the cumulative TSLA shares owned by these funds during the 06/30/2024 period, unveiling a collective reduction of 373,159 shares. The total shares dwindled from 5,944,414 to 5,571,255, marking a share count decline of approximately -6.28%. Noteworthy among the top three funds with substantial TSLA stakes on 09/30/2024.
Stay tuned as we continue to dissect the latest 13F filings by hedge fund managers, unearthing intriguing narratives gleaned from aggregate data across fund groups spanning filing periods. While an isolated glance at individual 13F filings may sometimes mislead due to the one-sided nature of the data, the holistic view across groups of funds from one reporting period to another proves to be more illuminating and pertinent, offering tantalizing stock prospects that warrant further exploration, just like the case of Tesla Inc (Symbol: TSLA).
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