As hedge funds begin to report their portfolio adjustments, Benzinga looked at stocks that highlight the strategic moves of institutional investors. These stocks tend to reflect the potential for significant market shifts, and some believe they can unlock hidden value.
We looked at the heat map for "increased" interest from 13F filers during the fourth-quarter of 2023. To our surprise, these include neither Tesla
Here are the top five stocks that garnered the maximum interest from the 13F filing community this past quarter:
Bank of America
Bank of America Corp
Over Q4, institutional ownership (as represented by 13F filers) in Bank of America stock increased by 1.58%. The stock now features in the top 10 holdings of 96 filers, up 41% QoQ. The number of institutional filers investing into Bank of America stock for the first time, also bumped up significantly - 334 filers in Q4, relative to 146 new filers in Q3 - a 128.77% hike.
Warren Buffett's Berkshire Hathaway
Walt Disney
Walt Disney Co
Over Q4, institutional ownership in Walt Disney stock increased by close to 5%. The stock now features in the top 10 holdings of 55 filers, up 10% QoQ. The number of institutional filers investing into Walt Disney stock for the first time, also bumped up significantly - 304 filers in Q4, relative to 158 new filers in Q3 - a 92.41% hike.
Vanguard Group is the top institutional investor in Disney stock, with 8.3% ownership of the company.
JD.com
JD.com Inc
Over Q4, institutional ownership in JD.com stock increased by 1.98%. The stock now features in the top 10 holdings of 20 filers, up 11.11% QoQ. The number of institutional filers investing into JD.com stock for the first time, also bumped up significantly - 92 filers in Q4, relative to 47 new filers in Q3 - a 95.74% hike.
The founder and former CEO of JD.com, Liu Qiangdong, is the top institutional investor in the stock with 22.7% ownership.
Array Technologies
Array Technologies Inc
Over Q4, hedge fund ownership in Array Technologies stock increased by 9.77%. The stock now features in the top 10 holdings of 11 filers, up 83.33% QoQ. The number of institutional filers investing into Array Technologies stock for the first time, however, decreased to 50 filers in Q4, relative to 55 new filers in Q3 - down 9%.
BlackRock is the top institutional owner of Array Technologies stock with 11.6% ownership.
Spirit AeroSystems
Spirit AeroSystems Holdings Inc
Over Q4, hedge fund ownership in Spirit AeroSystems stock increased by 43%. The stock now features in the top 10 holdings of 6 filers, up 200% QoQ. The number of institutional filers investing into Spirit AeroSystems stock for the first time, also bumped up significantly - 72 filers in Q4, relative to 34 new filers in Q3 - a 111.76% hike.
Vanguard Group is the No. 1 institutional investor in Spirit AeroSystems stock with an over 10% ownership.
The top 5 stocks identified above serve as noteworthy indicators of evolving market preferences. The decisions made by institutional investors in Q4 2023 reflect a collective belief in the growth potential and strategic positioning of these tech companies.