Analyzing Searchlight Capital Partners Q3 and Q4 2022 Holdings Comparison Report: Insights and Implications.

Searchlight Capital Partners, L.P. is a private equity firm that manages billions of dollars in assets across various funds. One of their funds, which is managed by a team of experienced investors, recently shared their 13F Holdings Comparison for Q3 2022 and Q4 2022. This report details the changes in holdings of the fund for this period. In this blog post, we will review the report and discuss the implications of the changes in fund holdings.

The table above shows comparisons between Q3 2022 and Q4 2022 for the fund's holdings of various companies. The first column shows the ticker symbol for each company, while the second column displays the name of the issuer. The next two columns represent the number of shares held by the fund in Q3 and Q4, respectively. The following two columns show the value of each holding in Q3 and Q4, respectively. Finally, the last column displays the percentage change in value between the two periods.

We will start with the largest holding, Consolidated Communications Holdings, Inc. (CNSL). The fund maintained the same number of shares throughout the period, but the value of the holding decreased by 13.9%. Consolidated Communications provides telecom services to customers across the United States, and it has been struggling in recent years due to the rise of mobile phones and the decrease of demand for fixed-line services. The decrease in value of this holding is reflective of this trend.

The next largest holding is Liberty Latin America Ltd. (LILAK). The fund held 14,250,962 and 14,253,380 shares in Q3 and Q4, respectively. However, the value of the holding increased by 23.6% during the period. Liberty Latin America is a telecommunications company that provides internet, phone, and TV services in the Caribbean and Latin America. The increase in value of this holding could potentially signal positive trends within the company.

The third-largest holding is Uniti Group, Inc. (UNIT). The fund maintained the same number of shares throughout the period, but the value of the holding decreased by 20.4%. Uniti Group is a real estate investment trust that focuses on the acquisition and construction of communication infrastructure, such as fiber optic cables and cell towers. The decrease in value of this holding is most likely due to the overall underperformance of the company in the telecommunications industry.

The fourth-largest holding in Q3 was Marcus Corporation (MCS), which owns and manages hotels and movie theaters throughout the United States. The fund decreased their holdings by 15.3% during this period, and the holding decreased in value by 12.2%. This decrease may be due to the uncertainty of the future of the entertainment industry during the COVID-19 pandemic.

The fifth-largest holding was a smaller position in Liberty Latin America Ltd. (LILA). The fund increased their holdings by 5.0%, and the value of the holding increased by 27.6%. This increase in value may reflect positive developments within Liberty Latin America Ltd.

Finally, the fund sold their entire position in Shift4 Payments, Inc. (FOUR) during the period. Shift4 Payments provides payment processing services in the United States and the Caribbean. The holding was valued at $165,000 in Q3 and was sold entirely in Q4. The company recently went public in June 2020, and it is unclear why the fund decided to sell its position in the company.

In conclusion, the 13F Holdings Comparison report for Searchlight Capital Partners, L.P. provides valuable insights into the fund's investments for Q3 and Q4 2022. The report reflects both positive and negative trends within the telecommunications, real estate, and entertainment industries. The inclusion of smaller positions within the report, such as LILA and FOUR, also reflect the fund's flexibility and willingness to pivot their investment strategy. Overall, this report serves as a useful tool for investors who are interested in understanding the investment strategies of private equity funds.