The Changing Tides of Fund Holdings: A Q3 vs. Q4 13F Comparison

Investors and analysts depend on 13F filings to keep track of institutional holdings, giving them insight into the sentiment around certain stocks. The latest Q3 and Q4 13F filings for MSD Partners, L.P. show us the significant changes in their holdings. In this article, we'll dive into a detailed comparison of these holdings and explore what it might mean for the future of the companies involved.

Starting with the biggest increase, it's apparent that MSD Partners acquired a sizable stake in Hayward Holdings Inc. (HAYW) over the quarter, with their shares rising from 0 to 71,538,085. The value of their shares also increased from $0 to $672,457, showing us that the fund has confidence in HAYW's future prospects.

However, things look different for iShares TR (HYG), as MSD Partners cut their holdings down by 50.9% from 4,200,000 shares to 2,000,000 shares. The value of these shares also declined from $299,838 to $147,260. It's not entirely clear why MSD Partners chose to decrease their holdings in HYG, but it could indicate a shift in the fund's sentiment.

Dish Network Corporation (DISH) saw a 14.2% increase in their MSD Partners holdings, rising from 32,718,000 to 37,000,000 shares in Q4. The value of the shares also increased from $29,414 to $33,587. This growth could indicate the fund's bullishness on the company and its future prospects.

Renew Energy Global PLC (RNW) remained static in terms of shares held by MSD Partners over the quarter, with holdings remaining at 2,609,099 shares. However, the value of these shares declined by 8.6% from $15,707 to $14,350. It's not clear why MSD Partners chose to maintain holdings in RNW even as the shares lost value.

Meta Platforms Inc (META) saw a decrease in their MSD Partners holdings by 11.3% as their shares remained static at 100,000. The value of these shares also declined from $13,568 to $12,034. Again, it's unclear why MSD Partners chose to decrease their holdings in META, but this could indicate lower confidence in the company's prospects.

Moving on to the remaining holdings with smaller percentages of change, MSD Partners' holdings in Alunous Therapeutics Inc (TCRT) remained static in Q4, but the option type changed from call to no option. This meant a decline in the value of the shares from $26,061 to $9,834, a decrease of 62.3%. Similarly, MSD Partners' holdings in Sitio Royalties Corp (STR) increased from 0 to 90,009 shares, valuing at $2,596; and Life Time Group Holdings Inc (LTH) saw a jump from 0 to 230,007 shares, valuing at $2,750.

Some of the remaining holdings that saw a decrease in value include Grid Dynamics Holdings Inc (GDYN), 88.7%; Finch Therapeutics Group Inc (FNCH), 45.4%; Danimer Scientific Inc (DNMR), 39.4%; and Ouster Inc (OUST/WS), 41.7%.

On the other hand, some of the holdings that saw an increase in value include JPMorgan Chase and Co (JPM), 28.3%; Clear Channel Outdoor Holdings (CCO), 23.3%; and Banco America Corp. (BAC), 9.6%.

Though we can speculate about the reasons behind MSD Partners' holdings changes, without more context, it's hard to know for sure. Nonetheless, these filings offer us a glimpse into the larger trend of institutional holdings and provide us with valuable insights into the sentiment surrounding specific stocks.