At Holdings Channel, we have reviewed the latest batch of the 24 most recent 13F filings for the 09/30/2025 reporting period, and noticed that American Express Co. (AXP) was held by 12 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.

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Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.

Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in AXP positions, for this latest batch of 13F filers:

In terms of shares owned, we count 3 of the above funds having decreased their positions from 06/30/2025 to 09/30/2025, with 1 new position.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the AXP share count in the aggregate among all of the funds which held AXP at the 09/30/2025 reporting period (out of the 1,269 we looked at in total). We then compared that number to the sum total of AXP shares those same funds held back at the 06/30/2025 period, to see how the aggregate share count held by hedge funds has moved for AXP. We found that between these two periods, funds reduced their holdings by 84,461 shares in the aggregate, from 8,660,068 down to 8,575,607 for a share count decline of approximately -0.98%. The overall top three funds holding AXP on 09/30/2025 were: