Analyzing Apertura Capital's Changes in Holdings Between Q3 and Q4 2019: Insights into Investment Strategy and Performance.

In the world of investing, tracking changes in a fund's holdings can provide valuable insights into a manager's investment strategy and performance. Apertura Capital, LLC recently released their 13F filings for Q3 2019 and Q4 2019, detailing their holdings in various companies. Let's take a closer look at the changes between the two filings.

One of the most notable changes occurred with Amazon (AMZN). In Q3 2019, Apertura Capital held 11,400 shares of the e-commerce giant, with a value of $19,789, but by Q4 2019, that number had decreased to 8,000 shares, with a value of $14,783. This represents a 25.3% decrease in their holdings. It is important to note that Amazon has been a top-performing stock for several years, and its recent dip in value may be a concern for some investors.

In contrast, Apertura Capital increased their holdings in Restaurant Brands International (QSR). They held no shares in Q3 2019, but had acquired 130,000 shares by Q4 2019, with a value of $8,290. This is likely due to the company's recent announcement of its “Winning Together” growth plan, which has led to increased investor confidence.

The fund also significantly reduced its position in Alphabet Inc (GOOGL), which owns Google. In Q3 2019, Apertura Capital held 24,800 shares of the tech giant, valued at $30,284, but by Q4 2019, that number had decreased to 6,000 shares, valued at $8,036. The 73.5% decrease in holdings may be related to concerns over antitrust investigations, which have put pressure on Big Tech companies.

A similar decrease occurred in Apertura Capital's holdings of Facebook Inc (META). In Q3 2019, the fund held 159,800 shares, valued at $28,457, but by Q4 2019, that number had dropped to 37,000 shares, valued at $7,594. This represents a 73.3% decrease and may be related to concerns over data privacy and regulatory scrutiny.

On the other hand, the fund increased its position in PepsiCo Inc (PEP) by acquiring 23,800 additional shares in Q4 2019, bringing their total holdings to 50,000 shares, with a value of $6,834. This 109.4% increase may be due to the company's strong earnings report for Q3, which beat analysts' expectations.

In the realm of technology firms, Apertura Capital acquired a sizable position in Nutanix Inc (NTNX), which went from zero shares in Q3 2019 to 195,000 shares in Q4 2019, valued at $6,096. The cloud computing company recently entered into a partnership with Hewlett Packard Enterprise to provide hybrid cloud services, highlighting its growth potential.

Another tech company that experienced a significant decrease in holdings was Micron Technology Inc (MU). In Q3 2019, Apertura Capital held 281,000 shares, with a value of $12,041, but by Q4 2019, that number had decreased to 110,000 shares, valued at $5,916. This 50.9% decrease may be related to concerns over tariffs and the ongoing trade war with China.

The fund also made new acquisitions in companies such as Dunkin Brands Group Inc (DNKN), with 70,000 shares valued at $5,288, and Boston Beer Inc (SAM), with 22,271 shares valued at $8,108. These additional holdings may reflect Apertura Capital's confidence in these companies' future growth potential.

Finally, it's worth noting that the fund also made some options trades during this period. For instance, they acquired call options on Alphabet Inc (GOOGL) for 400 shares, with a value of $50,000, and call options on Netflix Inc (NFLX) for 1,300 shares, with a value of $44,200. They also acquired put options on Select Sector SPDR Trust (XLP), V F Corp (VFC), and Booking Holdings Inc (BKNG), symbolized in the 13F filing as a negative number, representing a net short position.

In conclusion, Apertura Capital's Q3 2019 vs. Q4 2019 13F holdings comparison reveals some interesting changes in the fund's portfolio. While the decreases in Amazon, Facebook, and Alphabet holdings may reflect concerns over antitrust regulations, data privacy, and trade wars, respectively, their increased holdings in Restaurant Brands International and PepsiCo may reflect investor confidence in these companies' future growth. It will be interesting to see how these trends develop in the coming quarters.