In this blog article, we will take a closer look at the hedge fund industry and analyze some of the major hedge fund managers' recent 13F filings. Specifically, we will focus on Fisher Asset Management, Pershing Square, and Icahn Carl C and examine their investment portfolios, top holdings, and recent trading activity.
Fisher Asset Management
Manager: Kenneth Fisher
13F Insights:
- Fisher's 13F portfolio value decreased by about 3% this quarter.
- No of new positions bought in Q3: 130
- No of securities completely liquidated in Q3: 131
- Turnover: 22.35
- Sectoral Focus: IT and Finance
The largest 5 stock positions account for approx. 16% of the 13F portfolio, these include- Apple, Microsoft, Alphabet, Amazon.com, and Nvidia
Portfolio Adjustments
Stake Increases:
- Procter and Gamble ($1.45B) saw a 105.59% increase in in the number of shares from Q2 2023 to Q3 2023.
- United Health Group ($1.4B) saw a 77.8% increase in in the number of shares from Q2 2023 to Q3 2023.
- Pepsico ($1.34B) saw a 78.4% increase in in the number of shares from Q2 2023 to Q3 2023.
- Apple Inc is currently the top position at 5.21% of the portfolio. There was a 1.64% increase in the number of shares from Q2 2023 to Q3 2023.
- Microsoft Corporation is the second largest security held. It has been in Fisher’s portfolio for well over a decade. There was a 2.27% increase in the number of shares from Q2 2023 to Q3 2023.
New Buys in Q3 2023
- Unicredit S.p.A. ($45M)
- Murphy Oil Corp ($45M)
- Matador Resources ($34.4M)
Securities Sold in Q3 2023
- PDC Energy Inc
- Gap Inc
- Nordstrom Inc
- Nextier Oldfield Solutions Inc
Pershing Square Capital Management
Manager: Bill Ackman
13F insights:
- The firm disclosed 10.49 B in assets.
- It holds 8 securities in its 13F portfolio, and the top 10 holdings account for 100.0% of the portfolio.
- Turnover: 25%
- Sectoral: Consumer Discretionary
Portfolio Adjustments
Stake Increases:
- Alphabet Inc saw the most significant boost, with an additional 2M shares, bringing the total to 4.3M shares. The current value of the security stands at $569.8M
- Hilton Worldwide Holdings saw an increase of 10.4% in the total number of shares held, amounting to a total value of $1.5B.
Stake Reductions
Portfolio Overview
The top holdings included 16.65% in Chipotle Mexican Grill Inc 14.82% in Restaurant Brands International Inc, 14.75% in Hilton Worldwide Holdings Inc 14% in Lowe's Companies Inc, and 11.87% in Howard Hughes Holdings Inc.
Icahn Carl C
13F insights:
- The firm disclosed 12.08 B in assets.
- It holds 14 securities in its 13F portfolio, and the top 10 holdings account for 98.2% of the portfolio.
- No of securities completely liquidated: 1
- Turnover: 7.1%
- Sectoral Focus: Industrials
Portfolio Adjustments
Stake Increases:
- Icahn Enterprises LP saw an addition of 16M shares, bringing the total to 350M shares. This move marks a 4.88% increase in share count valued at $6.9B
- Southwest Gas Holdings Inc experienced an increase of 1.64% in share count, with a total value of $665M
Securities Sold in Q3 2023
Key Position Reductions
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