The Evolution of 683 Capital Management, LLC Q3 2022 vs. Q4 2022 13F Holdings Comparison

As we approach the end of the year, it's always interesting to take stock of how things have changed. In the investment world, this means looking at 13F filings and seeing which stocks have been added or removed from fund portfolios. One fund that caught our eye is 683 Capital Management, LLC, and their Q3 2022 vs. Q4 2022 13F Holdings Comparison. In this blog post, we'll explore the changes in their holdings and what it could mean for the fund moving forward.

Introduction

683 Capital Management, LLC is a relatively small hedge fund with just over $1 billion in assets under management. However, they have a reputation for being a savvy investor, with a focus on deep value and special situations. Their Q3 2022 holdings were notable for their diverse mix of stocks, including tech, energy, and financials. So, how did their portfolio change in the last quarter of the year?

Main Body

One of the most noteworthy changes in 683 Capital Management's portfolio was the significant reduction in their stake in Enova International Inc (ENVA). In Q3 2022, they held 3,134,000 shares of the financial services company, but that number dropped to just 2,510,000 shares in Q4 2022. This represents a 5% reduction in the number of shares and a 5% increase in the value of their holdings. It's unclear what motivated this move, but it could be related to concerns about the company's growth prospects in the near future.

Another stock that saw a significant reduction in 683 Capital Management's holdings was Immatics N.V (IMTX). The biotech company was one of their larger holdings in Q3 2022, with 1,385,600 shares. However, by the end of the year, that number had dropped to just 1,300,000 shares. This 6% reduction in their stake could be a sign that the fund is losing confidence in the company's long-term prospects.

On the flip side, there were a few stocks that 683 Capital Management added to their portfolio in Q4 2022. The most notable of these was Builders FirstSource Inc (BLDR), which saw the fund add 150,000 shares to their holdings. This represents a 31% increase in the number of shares they own, and a 32% decrease in the value of their holdings. It's possible that the fund sees an opportunity in the building materials industry, or they could simply be taking advantage of the stock's recent dip in price.

Another stock that saw a significant increase in 683 Capital Management's holdings was TG Therapeutics Inc (TGTX). The biopharmaceutical company saw the fund add 1,125,000 shares to their portfolio, increasing their stake by 40%. This could be a bullish sign for the company, as it suggests that the fund sees potential for growth in the near future.

Conclusion

Overall, the changes in 683 Capital Management's Q3 2022 vs. Q4 2022 13F Holdings Comparison suggest that the fund is making some strategic adjustments to their portfolio. The reduction in their holdings of Enova International Inc and Immatics N.V could signal concerns about these companies' long-term prospects, while the increase in their holdings of Builders FirstSource Inc and TG Therapeutics Inc could be indicative of bullish sentiment. As always, it's important to keep an eye on 13F filings and stay up-to-date on the latest moves by top hedge funds.