Comparing Owl Creek Asset Management’s Holdings in Q3 and Q4 of 2022

In the investment world, it’s no secret that holdings can change frequently from quarter to quarter. And while many investors pay close attention to the movements of big-time investment managers, it can be difficult to keep up with all of the changing positions across the market. Owl Creek Asset Management, L.P. is one such fund manager that saw some interesting changes in its holdings between Q3 and Q4 of 2022. Let’s delve into the numbers and take a closer look.

First up on the list is the SPDR S&P 500 ETF TR, also known as SPY, which experienced a 21.3% increase in shares from Q3 to Q4. Owl Creek Asset Management bought an additional 215,800 shares, bringing its total to 1,850,000 shares. The value of these shares also rose from $583,347 to $707,495, indicating that the fund is bullish on the S&P 500.

In contrast, Apple (AAPL) appears to have fallen out of Owl Creek’s favor in Q4, as the fund sold off 320,000 shares, resulting in a 17.7% decrease in shares held. This move is particularly interesting considering that in the previous quarter, Owl Creek had increased its stake in AAPL by 330,000 shares. Could this be a sign that Owl Creek is losing confidence in the tech giant?

Anterix Inc (ATEX) and PG&E Corp (PCG) also saw changes in holdings, though in different directions. ATEX remained static, with the fund holding onto its entire position of 5,411,776 shares. However, PCG saw a 3.9% decrease in shares held, as the fund sold off 3,413,470 shares, leaving it with a smaller total of 9,624,771 shares.

Another notable change was in the Invesco QQQ TR (QQQ). In the third quarter, Owl Creek held 1,019,800 in put options. In the fourth quarter, it seems that the fund changed its outlook on the stock as it sold off a significant portion of its position, retaining only 465,000 shares in put options, a decrease of 54.6%.

There were also some interesting moves in the energy sector, with AES Corp (AES) seeing an increase of 17.2% in shares held, while T-Mobile US (TMUS) experienced a 27.6% decrease in shares non-option. What could be driving these positions, and will they change again in the next quarter?

Finally, several companies saw no change in their positions, including Select Sector SPDR TR (XLI) and Enphase Acquisition Corp.

Overall, Owl Creek Asset Management’s moves in its holdings during Q4 of 2022 were interesting and diverse, with both increases and decreases in positions across multiple sectors. Although it’s difficult to predict future moves based on these changes alone, these numbers do offer some insight into the fund’s strategy and priorities.