An In-Depth Look at International Value Advisers, LLC Q3 2020 vs. Q4 2020 13F Holdings

International Value Advisers, LLC is a natural value asset manager that invests in publicly traded equities, focusing on undervalued companies that have the potential to grow in value over the long term. The firm uses a fundamental, bottom-up approach to stock picking and emphasizes management quality and capital allocation. In this blog post, we will examine the changes in holdings of this fund during the Q3 2020 vs. Q4 2020 period.

Newmont Corp.

International Value Advisers, LLC decreased its stake in Newmont Corp. by 7.8% in the fourth quarter, owning 1691640 shares. Newmont is the world's largest gold producer and has operations in North America, South America, Australia, and Africa. The reduction in the stake was made despite the rise in gold prices and signaled that the fund might be re-allocating to other holdings.

Berkshire Hathaway Inc.

International Value Advisers, LLC sold Berkshire Hathaway Inc. shares, both Class A and Class B, during Q4 2020. The firm reduced its holdings in Class B shares by 20.1%, owning 355666 shares, and entirely exited the position in Class A shares. Berkshire Hathaway is a conglomerate with interests in insurance, utilities, and consumer goods. The decision to sell the shares indicates that the fund might not see the growth potential it once saw in the company.

LKQ Corp

International Value Advisers, LLC decreased its stake in LKQ Corp by 6.6%, owning 2018923 shares in Q4 2020. LKQ Corp is a supplier of alternative parts and components for cars, trucks, and other vehicles. The company's stock has been on a steady uptrend since the stock market crash in March 2020, and it is interesting that the fund decided to reduce its exposure to the company.

Adtalem

International Value Advisers, LLC decreased its stake in Adtalem by 31.5% in Q4 2020, owning 1111934 shares. Adtalem is a for-profit higher education company that operates several institutions in the US, Canada, and Brazil. The decrease in shares might be due to the uncertainty surrounding the education sector during the pandemic.

Conclusion

International Value Advisers, LLC made several changes to its holdings during the Q3 2020 vs. Q4 2020 period. The fund rebalanced its portfolio by decreasing its exposure to companies such as Newmont and Adtalem and exiting entirely from Berkshire Hathaway Class A shares. These changes in holdings might signal the fund's view on the market and changing investment strategies. It will be interesting to see what the fund does next and if the changes in holdings lead to more significant returns for investors.