Sandell Asset Management Corp reports major changes in Q3 2020 investment portfolio

Sandell Asset Management Corp, a New York-based activist hedge fund management firm, has filed its latest 13F report with the United States Securities and Exchange Commission (SEC) disclosing its holdings as of the end of the third quarter of 2020. The report details the company's current and past positions in the stock market, including the industry sectors and companies where it made changes.

According to the report, Sandell Asset Management Corp held a total of 29 securities worth $365,695 at the end of the third quarter of 2020. This is significantly lower than the $509.6 million in assets under management it reported at the end of the second quarter. The report also shows that the company's portfolio turnover rate during the quarter was 18.62%.

In terms of industry sectors, the report shows that the financial sector had the highest allocation in Sandell Asset Management Corp's portfolio, with a total value of $88,329. The healthcare sector followed closely with a total value of $87,204, while the consumer discretionary sector had a total value of $69,583.

Based on the changes in holdings, it appears that Sandell Asset Management Corp has been making some notable moves during the third quarter of 2020. One of the most significant changes was its decision to liquidate its entire holdings in Delphi Technologies Plc, which was valued at $4,263,000 at the end of the second quarter. Sandell also sold all of its shares in Fitbit, valued at $2,422,000, and Meritor Inc., valued at $2,985,000.

In terms of the companies that Sandell Asset Management Corp added to its portfolio during the third quarter, Navistar International Corp New was the most significant addition. The company's holdings in Navistar increased from 113,700 to 113,700 shares, with a total value of $4,950,000. The report also showed that Sandell Asset Management Corp increased its holdings in Manchester Utd PLC from 250,000 to 320,000 shares, with a total value of $4,653,000. Other notable additions include Xperi Holding Corp, which was valued at $3,690,000, and Take-Two Interactive Software, which was valued at $6,979,000.

On the other hand, Sandell Asset Management Corp sold nearly half of its holdings in Dish Network Corp, which dropped from 10,000,000 shares to 7,000,000 shares, with a total value of $6,465,000. The hedge fund management firm also reduced its positions in Kraton Corporation by around 35%, from 263,489 to 170,000 shares, with a total value of $3,029,000.

Perhaps one of the most notable changes in Sandell Asset Management Corp's holdings during the third quarter was its increased stake in Apple Inc. The company's holdings in Apple increased from 33,287 shares to 133,148 shares, with a total value of $15,420,000, representing a 27% increase. The firm also increased its holdings in SPDR Gold Trust by over 32%, from 30,300 to 37,900 shares, with a total value of $6,713,000.

In conclusion, the Q3 2020 holdings comparison report released by Sandell Asset Management Corp reveals significant changes in the hedge fund manager's portfolio. While we cannot know the reason behind all the changes, they do show that Sandell Asset Management Corp made some strategic moves to position itself for long-term growth. Investors who follow the firm's activities will undoubtedly be watching closely to see how these holdings perform in the coming quarters.