Arlington Value Capital, LLC Q4 2019 vs. Q1 2020 13F Holdings Comparison

Arlington Value Capital, LLC, a hedge fund focused on constructing value-oriented investment portfolios, recently filed their 13F quarterly reports with SEC. The filings reflect the fund's equity positions taken as of the end of Q4 2019 and Q1 2020. The changes in fund holdings between Q4 2019 and Q1 2020 are quite intriguing and worth analyzing. In this article, we'll dive into the top holdings portfolio and highlight the significant increases and decreases in the fund's portfolio.

Let's start by looking at the top stocks held by Arlington Value Capital. As of Q4 2019, the largest investments were in Berkshire Hathaway Inc (BRK-A, BRK-B), Autonation Inc (AN), and Spectrum Brands Holdings Inc (SPB). However, in Q1 2020, the fund's largest holdings changed significantly. The top holdings were now in Cimpress NV (CMPR), Autonation Inc (AN), and Interactive Brokers Gro-Cl A (IBKR).

One of the most significant changes that stood out from the filings was the fund's position in BRK-B. In Q1 2020, the fund reduced its position in the company by -40.6%, lowering its investment to 1.44 million shares. Similarly, the fund sold out entirely on GrubHub Inc (GRUB) in Q1 2020, indicating bearish sentiment in the company.

On the other hand, the fund's position in CMPR and IBKR increased significantly by 27.2% and 14.9%, respectively. The investment in CMPR represents a remarkable bullish move, given the COVID-19 pandemic's significant impact on the printing industry. However, the fund's investment in AN decreased by -50.4%, indicating that the hedge fund's management doesn't have much faith in the car dealership company.

Another company that suffered a significant divestment from Arlington Value Capital was Molson Coors Beverage Co (TAP). The fund sold out completely on the beverage company, lowering its position from holding shares of the company worth $12 million in Q4 2019 to zero shares in Q1 2020.

In conclusion, Arlington Value Capital, LLC's Q4 2019 vs. Q1 2020 13F holdings comparison indicates a significant shift in the fund's investment strategy. Stock positions in Berkshire Hathaway Inc and GrubHub Inc have been sold, while the fund has increased its stake in Cimpress NV and Interactive Brokers Gro-Cl A. These changes likely reflect the fund's evolving strategy and outlook on specific stocks and the market as a whole.