How Did Portland Hill Asset Management Ltd Shift its 13F Holdings in Q4 2022?

Portland Hill Asset Management Ltd, a prominent hedge fund, recently filed its 13F holdings for Q4 2022. This article dives into their portfolio changes to highlight the top stocks they bought and sold.

Looking at their Q3 2022 holdings, Alibaba Group Holding Ltd was their largest position. However, in Q4 2022, Portland Hill reduced this position by 13.2% and added new positions in other tech companies. They significantly reduced their share count in Alphabet Inc Cap Stk; a staggering 48% decrease was seen in their new 13F filing.

In this post, we will highlight the most significant portfolio changes made by Portland Hill Asset Management in the Q3 vs. Q4 comparison. Let's dive right into it.

Top Three Buys

1. Tapestry Inc (TPR): Portland Hill Asset Management increased its position in Tapestry Inc in this quarter. It went from 105,092 shares in Q3 to 40,424 in Q4, showing a 55.6% decrease. While Tapestry Inc struggled during the pandemic, they’re optimistic about the company’s future.

2. JD.com Inc (JD): Portland Hill Asset Management added shares of JD.com Inc to their portfolio this quarter. They went from holding 2,748 shares to 3,251 in the latest quarter with a 71.7% increase. JD.com Inc is a Chinese e-commerce giant that has shown strong growth potential, which could be why Portland Hill has added it to their holdings.

3. Baidu Inc (BIDU): Portland Hill Asset Management increased its position in Baidu Inc too. They added 236,000 shares, which is 50% more than Q3 with 217,000 shares held. Portland Hill seems optimistic about the future of the Chinese tech giant and is willing to increase its stake.

Top Three Sells

1. Alphabet Inc Cap Stk (GOOGL): Portland Hill Asset Management sold 44,521 shares of Alphabet Inc Cap Stk this quarter. They went from holding 96,962 shares to 52,441 shares, showing a massive 48% decrease in the quarter. Tech stocks like GOOGL have substantial market caps and can be volatile, so it’s not uncommon for hedge funds like Portland Hill to sell off these positions.

2. PayPal Hldgs Inc (PYPL): Portland Hill Asset Management sold a significant part of its holdings in PayPal Hldgs Inc and went from holding 53,139 shares in Q3 to 29,380 in Q4, a 102.9% decrease. The decision to sell this stock is due to the strategic reshuffle made by Portland Hill in favor of other tech stocks.

3. Capri Holdings Limited (CPRI): Portland Hill Asset Management reduced its position in Capri Holdings Limited. They went from holding 93,604 shares in Q3 to 24,587 in Q4, showing a 68.2% decrease. This fast fashion company has seen a decline in sales margins recently, which could be why Portland Hill decided to reduce its position.

Bottom Line

Portland Hill Asset Management made some bold moves in selling out of high market cap tech stocks and adding shares of emerging tech (JD.com Inc and Baidu), with the exception of Tapestry, they seem to have the best interest in the future of these companies. It’s important to note that Portland Hill is a hedge fund that doesn’t solely rely on fundamental analysis when making investment decisions. The information about the holdings and shifts is valuable, but other factors such as economic and political events also affect their investment decisions. Nonetheless, reviewing these shifts can offer insight into how a prominent hedge fund views the stock market right now.