Evermore Global Advisors, LLC Q3 2022 vs. Q4 2022 13F Holdings Comparison Report: Insights and Analysis

Evermore Global Advisors, LLC recently released its Q3 2022 vs. Q4 2022 13F holdings comparison, which gives us a glimpse into the fund's recent activity. The report summarizes the changes in holdings of the fund from Q3 to Q4 2022, including the number of shares held, the value of those shares, and the percentage change in holdings. Let's dive into the report and see what insights we can gather.

The report shows that the fund significantly decreased its holdings in Calumet Specialty Products Partners (CLMT) between Q3 and Q4 2022. In Q3 2022, Evermore Global Advisors, LLC held 1,106,978 shares of CLMT worth $14,180,000. However, by Q4 2022, the fund's holdings decreased by over 300,000 shares to 801,055, and the value of those holdings decreased by almost $700,000. This represents a 4.6% change in holdings for the fund. While we do not have information on the reasoning behind this decision, it is clear that Evermore Global Advisors, LLC has decreased its exposure to CLMT.

On the other hand, the fund maintained its positions in KKR & Co. Inc. (KKR), Frontline Ltd. (FRO), and ZIM Integrated Shipping Services (ZIM). The number of shares held by the fund in these companies did not change from Q3 to Q4, meaning that Evermore Global Advisors, LLC continued to have confidence in these companies.

Interestingly, Evermore Global Advisors, LLC significantly reduced its holdings in eNeti Inc. (NETI) between Q3 and Q4 2022. In Q3, the fund held 570,957 shares of NETI worth $3,808,000. However, by Q4 2022, the fund's holdings in NETI decreased by almost 55%, down to 255,973 shares worth $2,572,000. This represents a remarkable 32.4% change in holdings for Evermore Global Advisors, LLC. Again, we do not have insight into why the fund chose to sell off this position, but it is clear that Evermore Global Advisors, LLC has decreased its exposure to NETI.

The fund also decreased its holdings in multiple other companies, including IAC Inc. (IAC) and Genco Shipping and Trading Ltd. (GNK). In the case of IAC, the fund's holdings decreased by over 25,000 shares, representing a 39.8% change in holdings. Similarly, the fund sold its entire holdings of GNK between Q3 to Q4 2022. In Q3 2022, Evermore Global Advisors, LLC held 237,174 share of GNK worth $2,972,000. However, by Q4, the fund had sold off all of that position, indicating a lack of confidence in the company.

Finally, Evermore Global Advisors, LLC sold off its positions in the shipping companies Euronav NV (EURN.BR) and International Seaways Inc. (INSW) entirely. In the case of EURN.BR, the fund held 255,090 shares worth $3,926,000 in Q3 2022. However, by Q4, the fund had sold off all of that position, indicating its lack of confidence in the company. Similarly, the fund held 45,900 shares of INSW worth $1,612,000 in Q3 2022 but sold off all of that position by Q4 2022.

In conclusion, the Q3 2022 vs. Q4 2022 13F holdings comparison report released by Evermore Global Advisors, LLC signifies the fund's recent activity and changes in holdings. We can see that the fund decreased its holdings in some companies such as CLMT, NETI, and IAC. However, the fund maintained its position in KKR, FRO, and ZIM. Furthermore, the fund sold off its entire position in GNK, EURN.BR, and INSW. Although we do not have insight into why the fund made these decisions, this report gives us information on the fund's latest activity and reinforces the importance of monitoring investments and regularly reviewing the portfolio.