Clearline Capital: Analyzing Q3 2022 vs. Q4 2022 13F Holdings Comparison

Clearline Capital is a hedge fund that focuses on value-oriented investments in publicly traded companies. The fund's investment strategies are heavily influenced by its team's research and ability to identify profitable investment opportunities.

In this blog post, we will explore Clearline Capital's Q3 2022 vs. Q4 2022 13F holdings comparison. We will look at the top holdings of the fund, evaluate changes in overall portfolio value, and analyze trends in the holdings of the fund.

Introduction

Clearline Capital's Q3 2022 filing with the Securities and Exchange Commission (SEC) revealed a total portfolio value of $236,786,000. The Q4 2022 filing showed a slight increase in portfolio value, with a total of $240,961,000. This indicates an overall increase of approximately 1.77% in the portfolio value.

The fund's top holdings remained relatively stable between quarters. The top five holdings of the fund in both quarters were NCR CORP, BRINKS CO, LIVANOVA PLC, MADISON SQUARE GRDN SPRT COR, and PRIMO WATER CORPORATION. These five companies combined for a total of $92,754,000 in Q3 and $96,513,000 in Q4, representing an increase of approximately 4.04%.

Main Body

One of the notable changes in Clearline Capital's portfolio was the significant decrease in holdings of MOMENTIVE GLOBAL INC. The fund held 3,964,775 shares of MOMENTIVE GLOBAL INC in Q3 2022, valued at $23,035,000. However, in Q4 2022, the fund sold off 1,752,814 shares of MOMENTIVE GLOBAL INC, leaving the fund with only 2,125,961 shares valued at $14,881,000. This represents a decrease of approximately 35.4% in both shares held and total value of the shares.

Another notable change in the fund's holdings was the increase in holdings of ALIGHT INC. The company was not listed in the Q3 2022 filing, but by Q4 2022, Clearline Capital had acquired 1,520,307 shares of ALIGHT INC, valued at $12,709,000. This represents a significant increase of 152.8% in both shares held and total value of shares.

The fund also sold off all of its holdings in HERTZ GLOBAL HOLDINGS INC, TENET HEALTHCARE CORP, and AMAZON COM INC in Q4 2022. HERTZ GLOBAL HOLDINGS INC was listed as holding 368,535 shares valued at $5,671,000 in Q3 2022, while TENET HEALTHCARE CORP was not listed in the Q3 filing. AMAZON COM INC was listed as holding 22,338 shares valued at $2,524,000 in Q3 2022. These companies were not present in the Q4 2022 filing, indicating that the fund had sold off all of its holdings in them.

Conclusion

Clearline Capital's Q3 2022 vs. Q4 2022 13F holdings comparison shows that the fund's investment strategy remains focused on long-term value-oriented investments. Despite selling off holdings in a few companies, the fund's top five holdings remained relatively stable, and there were no significant changes in the top holdings' values.

The fund's acquisition of ALIGHT INC demonstrates its ability to identify investment opportunities and adapt its strategy to changing market conditions. The sale of MOMENTIVE GLOBAL INC indicates that the fund is not afraid to sell off holdings that it no longer considers valuable.

Overall, Clearline Capital's Q3 2022 vs. Q4 2022 13F holdings comparison provides insight into the fund's investment strategy, and its ability to identify long-term value-oriented investments.