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13F Season and New or Outlier Positions

Saluki

By Saluki
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Saluki Veteran

Saluki

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Posted

I'm sure everyone enjoys today because in addition to being Valentines Day, it's also when the 13Fs are due.  Has anyone noticed any big adds, or new names that aren't usually on the radar?  

 

I'll start: 

 

Pat Dorsey, who runs a concentrated portfolio with 9 positions, just added a 9% position in Danaher this quarter. 

https://www.dataroma.com/m/holdings.php?m=DA

 

(He trimmed Meta, Alphabet and Smartsheet) 

Gmthebeau Rising Star

Gmthebeau

Posted
Posted
9 hours ago, Saluki said:

I'm sure everyone enjoys today because in addition to being Valentines Day, it's also when the 13Fs are due.  Has anyone noticed any big adds, or new names that aren't usually on the radar?  

 

I'll start: 

 

Pat Dorsey, who runs a concentrated portfolio with 9 positions, just added a 9% position in Danaher this quarter. 

https://www.dataroma.com/m/holdings.php?m=DA

 

(He trimmed Meta, Alphabet and Smartsheet) 


howard marks bought BABA and JD which is interesting

 

stanley drunkenmiller sold AMZN and GOOGL completely and started selling NVDA

 

david tepper bought calls on ARKK

 

tom Russo bought UBER

 

 

Gmthebeau Rising Star

Gmthebeau

Posted
Posted
16 minutes ago, Gamecock-YT said:

is howard marks anything more than a talking head these days? 


I don’t know.  I could see how people might think that.  He is definitely a value investor, who likes special situations, bankruptcies etc.  he last owned BABA and sold out in Q3 of 2020 which is when it peaked.  I find it interesting and I hate China 

Red Lion Mentor

Red Lion

Posted
Posted
3 hours ago, Gmthebeau said:


I don’t know.  I could see how people might think that.  He is definitely a value investor, who likes special situations, bankruptcies etc.  he last owned BABA and sold out in Q3 of 2020 which is when it peaked.  I find it interesting and I hate China 

Which fund is this, or personal? And is this a just an insignificant equity position when most of his allocations are in debt? These aren't rhetorical questions, but I find that sometimes following very intelligent, scholarly investors yields subpar results. I personally haven't found many actionable results from Marks' ivory tower, but that's not to say it's not likely and possible. 

Sweet Mentor

Sweet

Posted
Posted (edited)

I don’t know why all these hedge fund guys love China so much.  Yes there are stocks that look appealing there but the country is run by Xi and your investments are at risk to his whims.  
 

Some will say the same kind of risks exist in the West, in some ways yes, but there is a strong rule of law that’s a pain in an ass to change with adversarial politics and journalism.  You don’t have those protections in China.  Your beloved CEO could disappear of the face of the earth.  
 

I could never understand why Warren and Charlie invested there, always felt it was hypocritical and in contradiction to some of the other values they espouse because when you buy China you’re partnering with the CCP whether you want to admit it or not.  What have Charlie and Warren said repeatedly for years about picking partners?

 

Edited by Sweet
Hektor Experienced

Hektor

Posted
Posted
5 hours ago, Sweet said:

when you buy China you’re partnering with the CCP whether you want to admit it or not

I guess the whole world is partnering with CCP, unless one can buy products that has zero Chinese made components.

Castanza Veteran

Castanza

Posted
Posted
5 hours ago, Sweet said:

I don’t know why all these hedge fund guys love China so much.

 

Just enough mystery with just enough sprinkled in credibility, potential catalysts, and fomo that make it easy to sell to the masses.

Gmthebeau Rising Star

Gmthebeau

Posted
Posted (edited)

The sentiment on China is so negative I have to take another look.  Dont like it when everyone comes around to where I was 2-3 years ago.  Nothing changes sentiment like price.

Edited by Gmthebeau
Sweet Mentor

Sweet

Posted
Posted
43 minutes ago, Hektor said:

I guess the whole world is partnering with CCP, unless one can buy products that has zero Chinese made components.

 

These things are not the same.

 

Saluki Veteran

Saluki

Posted
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Posted
1 minute ago, ValueArb said:

I believe Burry bought BABA as well in his latest 13F.

I noticed that also.  Big position for both Burry and Tepper.  It's strange that Burry has bought (and sold) BABA before at these prices and not held on.  So much churn in Burry's portfolio, that it's hard to decipher what the thinking is. 

Saluki Veteran

Saluki

Posted
  • Author
Posted

Tiger Cub Stephen Mandel and Burry both have good sized positions in Square.  

 

DATAROMA Superinvestor Ownership

 

It's trading at less than 2x sales and the restaurant checkout appears to be everywhere now, but it's down a lot from the high $200 price after the news articles came out about their Cashapp and lax anti-money laundering making it the preferred app for drug dealers, hookers and other con artists. 

ValueArb Mentor

ValueArb

Posted
Posted
1 hour ago, Saluki said:

I noticed that also.  Big position for both Burry and Tepper.  It's strange that Burry has bought (and sold) BABA before at these prices and not held on.  So much churn in Burry's portfolio, that it's hard to decipher what the thinking is. 

 

Historically he's been extremely catalyst driven. During his salad days of crushing the market for half a decade before the Big Short, he'd identify some deep value position that was going to get uprated, or added to an index, fix a bleeding subsidiary, or pay out a large special dividend, etc, buy it and then flip it within 6 months or a year. 

 

But I don't know what the catalysts can be for positions like BABA, other than its cheap. Burry did come out of currency trading where it was all technical analysis into deep value investing and never entirely shed the idea he could predict some types of price action. So it might be something like he's seeing something that he believes indicates that the outflows from BABA are ending and expects it to get added back to some large fund portfolios. 

LC Mentor

LC

Posted
Posted
2 minutes ago, gfp said:

I'm pretty impressed with Guy Spier lately

He's busy helping Mohnish install hardwood baseboards in his library 😄 

gfp Grand Master

gfp

Posted
Posted

It could be a weekend at bernie's situation for all I know, but it has been a positive for his investment performance.  

Gmthebeau Rising Star

Gmthebeau

Posted
Posted
2 hours ago, ValueArb said:

 

But I don't know what the catalysts can be for positions like BABA, other than its cheap. Burry did come out of currency trading where it was all technical analysis into deep value investing and never entirely shed the idea he could predict some types of price action. So it might be something like he's seeing something that he believes indicates that the outflows from BABA are ending and expects it to get added back to some large fund portfolios. 

 

Exactly.  Once there is nobody left to sell there are only people to buy.  Everyone says they won't buy, but once price starts going up sentiment suddenly changes and people start buying.   It's the reverse of Apple.  There is nobody left to buy Apple only people to sell.  Even with passive inflows Buffett just trimming a bit drives the price down.

Gmthebeau Rising Star

Gmthebeau

Posted
Posted
58 minutes ago, Ross812 said:

Value Act had a big buy into EXPE during the quarter. 

This is interesting.  I need to look into EXPE.  ValueAct is very good.

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