See Which Of The Latest 13F Filers Holds IJR

Hedge funds collectively reduced their aggregate long positions in the iShares Trust - Core S&P Small-Cap ETF (IJR) by approximately 3.03% between the end of Q1 and Q2 2024, representing a decline of over 2.6 million shares from 86.7 million to 84.1 million. This analysis of 13F filings, which only disclose long positions, indicates a notable collective decrease in institutional exposure to the small-cap ETF, despite some individual funds increasing their holdings.

Analysis

An analysis of 13F filings for the period ending June 30, 2024, reveals a net reduction in institutional ownership of the iShares Core S&P Small-Cap ETF (IJR). Across a comprehensive sample of 1,945 funds, aggregate holdings decreased by 2,625,506 shares, a 3.03% decline from 86.74 million to 84.11 million shares compared to the prior quarter. This net institutional outflow suggests a moderately negative or cautious sentiment towards the US small-cap equity market during Q2. While a smaller, more recent sample of 30 filers showed mixed activity—with an equal number of funds increasing and decreasing positions—the broader aggregate data indicates a clear trend of net selling. It is critical to note the limitation that 13F filings only disclose long positions, meaning the underlying bearish sentiment could be more pronounced if managers were simultaneously building un-reported short positions.

Key Decisions for Investors

• Given the 3.03% aggregate reduction in institutional holdings, investors should review their own allocation to US small-caps and assess whether the drivers behind this institutional rotation remain relevant.