Comparing Q3 2022 and Q4 2022 13F Holdings of Stone Point Capital LLC: Changes, Trends, and Insights

Stone Point Capital LLC is one of the leading private equity firms investing in the financial services sector, with a focus on the insurance and reinsurance, banking, asset management, and specialty finance industries. As of Q4 2022, the firm manages approximately $27 billion of assets under management.

Using publicly available data from the firm's 13F filings with the Securities and Exchange Commission (SEC), we analyzed and compared the changes in holdings of Stone Point Capital LLC between Q3 2022 and Q4 2022 to gain insights into the firm's investment strategies, portfolio performance, and market trends.

Overall, the data showed mixed results for Stone Point Capital LLC, with some notable increases and decreases in holdings across different companies and industries. Here are some of the key highlights:

- One of the biggest winners for Stone Point Capital LLC in Q4 2022 was Enstar Group Limited (ESGR), a leading global insurance group that provides run-off management, legacy acquisitions, and other specialty services. The firm increased its holdings in ESGR by 36.2%, from 1,546,196 shares in Q3 2022 to 2,002,233 shares in Q4 2022. This translates to a significant increase in the value of holdings, from $262,219,000 in Q3 2022 to $357,233,000 in Q4 2022.

- Another company that saw a significant increase in holdings for Stone Point Capital LLC in Q4 2022 was Focus Financial Partners Inc. (FOCS), a leading partnership of independent, fiduciary wealth management firms. The firm increased its holdings in FOCS by 18.3%, from 8,250,165 shares in Q3 2022 to 9,758,975 shares in Q4 2022. However, it's worth noting that the firm also decreased its holdings in FOCS by 11.8% in a separate transaction during the same period.

- On the other hand, one of the biggest losers for Stone Point Capital LLC in Q4 2022 was Hireright Holdings Corporation (HRT), a leading provider of background screening, identity verification, and other employment screening services. The firm decreased its holdings in HRT by 22%, from 18,401,140 shares in Q3 2022 to 18,463,397 shares in Q4 2022. This translates to a significant decrease in the value of holdings, from $280,802,000 in Q3 2022 to $218,975,000 in Q4 2022.

- Home Point Capital Incorporated (HMPT), a leading non-bank mortgage originator and servicer, also saw a significant decrease in holdings for Stone Point Capital LLC in Q4 2022. The firm decreased its holdings in HMPT by 11%, from 127,771,035 shares in Q3 2022 to 114,508,851 shares in Q4 2022. This translates to a decrease in the value of holdings, from $196,767,000 in Q3 2022 to $175,046,000 in Q4 2022.

- Other notable changes in holdings for Stone Point Capital LLC in Q4 2022 include a 25.1% increase in holdings for FOCS, a 16.6% increase in holdings for Priority Technology Holdings, Inc. (PRTH), and a 4.4% increase in holdings for Broadstone Acquisition Corp. (BNL). The firm also decreased its holdings in Eagle Point Credit Co. LLC (ECC) by 8%, and in P10 Inc. (PX) by 1.4%.

Overall, the data suggests that Stone Point Capital LLC is bullish on the financial services sector, particularly in the insurance and wealth management industries. The firm's investments in Enstar Group Limited and Focus Financial Partners Inc. are indicative of its long-term growth strategy, while its divestments in Hireright Holdings Corporation and Home Point Capital Incorporated may reflect some short-term challenges in those companies and their respective markets. As always, it's important to note that past performance does not guarantee future results, and that investing in the stock market involves risks and uncertainties that should be carefully considered before making any investment decisions.