Delving into the latest 13F filings reveals a captivating tale of hedge funds and their antics with Tesla Inc. Thirteen out of twenty-three recent filings for the 06/30/2024 reporting period unveiled ownership of Tesla Inc (Symbol: TSLA). When a multitude of hedge fund managers march in unison, it beckons for a closer inspection.
Yet, let’s not get carried away. It’s crucial to bear in mind that 13F filings only unveil a fraction of the story. These filings merely shed light on funds’ long positions, while cleverly concealing their short positions. For instance, a fund could be making pessimistic bets by shorting calls while also holding a chunk of stock – a sly maneuver that remains undisclosed. So, what seems bullish on the surface may have a hidden bearish underbelly.
Despite this caveat, scrutinizing clusters of 13F filings can offer profound insights, especially when juxtaposed against different holding periods. Let’s dive into the metamorphosis of TSLA positions in this latest batch of filings:
From 03/31/2024 to 06/30/2024, four funds augmented their existing TSLA positions, while six decreased theirs, and one initiated a new position. Noteworthy exits from TSLA common stock were witnessed from entities like Bank Pictet & Cie Asia Ltd. and Future Financial Wealth Managment LLC within this cohort of recent filers.
Venturing beyond this set of funds, we tallied the aggregate TSLA share count among all funds holding TSLA as of 06/30/2024. Out of the total of 670 funds examined, a total share count increase of approximately 16.12% was observed, with funds elevating their holdings by 1,176,302 shares from 7,296,761 to 8,473,063 during this period. The top three investors in TSLA on 06/30/2024 stood out prominently.
Stay tuned as we track the pulse of the latest 13F filings by hedge fund magnates, unearthing riveting narratives hidden in the data across swathes of managers between filing periods. While individual 13F filings might lead one astray due to their one-sided nature, assessing the collective data across groups of funds from one reporting period to another can unearth intriguing stock prospects worth further exploration, such as Tesla Inc (Symbol: TSLA).
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