SQ Advisors' Q1 and Q2 2019: A Deep Dive Into the Changing Fund Holdings

The Investment Company Act of 1940 requires all investment firms with more than $100 million in assets to file a quarterly report called a Form 13F. This report includes information on the company's stocks, options, and other securities holdings. These mandatory disclosures offer valuable insights into the overall investment strategies of institutional investors and fund managers.

One such company, SQ Advisors, LLC, recently disclosed its Q1 and Q2 2019 holdings. These filings show that the firm made significant changes to its portfolio during this period. In this article, we will take a closer look at SQ Advisors' Q1 and Q2 holdings to gain a better understanding of their investment strategy.

In the first quarter of 2019, SQ Advisors held no shares in Liberty Broadband Corp (LBRDK), Brookfield Asset Management Inc (BKAA.SG), Allison Transmission Holdings Inc (ALSN), Cable One Inc (CABO), CarMax Inc (KMX), Apple Inc (AAPL), The Charles Schwab Corporation (SCHW), Tyler Technologies Inc (TYL), and Sensata Technologies Holding Plc (ST). These holdings changed significantly in the second quarter of the year.

The biggest change was SQ Advisors' decision to sell all of its 2,261,946 shares in LBRDK, valued at $207,511, in Q1. They did not hold any LBRDK shares in Q2. Surprisingly, SQ Advisors sold all of its 3,828,355 shares in BKAA.SG, valued at $178,589, in Q1 as well, with no holdings in Q2.

Likewise, SQ Advisors sold all of its shares in ALSN, CABO, and KMX in the first quarter. The company held 3,790,722 shares of ALSN, worth $170,279, in Q1 2019, and zero shares in Q2. Similarly, SQ Advisors held 154,609 shares of CABO, valued at $151,730, in Q1 but sold all of them in Q2. Lastly, SQ Advisors held 2,138,822 shares of KMX, worth $149,290, in Q1 and sold them all in Q2.

In terms of their remaining holdings, SQ Advisors surprisingly did not hold any AAPL or SCHW shares in Q1, with a value of $127,648 and $126,117, respectively. The fund also held no shares in TYL and ST, which were valued at $79,770 and $74,792 in Q1, respectively. SQ Advisors did hold on to all 260,282 shares of Berkshire Hathaway Inc. (BRK-B), valued at $52,288 in Q1 and Q2.

In conclusion, SQ Advisors, LLC, made significant changes to its holdings during Q1 and Q2 2019. The company sold all of its shares in several companies, including LBRDK, BKAA.SG, ALSN, CABO, and KMX. These moves show a clear shift in the firm's investment strategy. We will see in future filings whether these decisions were profitable for SQ Advisors and its clients.