Hedge Fund Aggregate Exposure to S&P 500 ETF Rises Despite Individual Exits

A review of the most recent 13F filings for the period ending March 31, 2026, indicates a growing appetite among hedge fund managers for the Vanguard S&P 500 ETF (VOO). Out of a sample of 54 recent filings, 37 funds maintained positions in the index tracker. The data suggests a broad trend of accumulation, although analysts caution that 13F filings provide an incomplete picture. Because these reports only disclose long positions and omit short interests or derivatives, the apparent bullishness may not reflect a fund's total net exposure to the S&P 500. Quantitatively, the trend leans positive. Among the sampled group, 24 funds increased their VOO holdings between December 31, 2025, and March 31, 2026, while only nine decreased their stakes. On a broader scale, across 1,166 funds, aggregate holdings rose by approximately 4.20%, increasing from 19,611,224 shares to 20,434,175 shares—a net gain of 822,951 shares. Despite the aggregate growth, individual movements varied. Notably, Riverbridge Partners LLC completely exited its position in VOO as of the March reporting date. Overall, the modest increase in institutional ownership of the ETF reflects a steady, if not aggressive, commitment to large-cap U.S. equities.