Analyzing Reinhart Partners' Q3 vs Q4 2022 13F Holdings: UHAUL Enters, LKQ Exits, and MAXAR takes the Lead

Reinhart Partners, Inc. Q3 2022 vs. Q4 2022 13F Holdings Comparison

Reinhart Partners, Inc. is a boutique investment advisory firm that manages assets for high net worth individuals, family offices, endowments, foundations, and other financial professionals. As of Q4 2022, they had over $2.8 billion in assets under management.

Their most recent 13F filing shows a number of changes in their holdings from Q3 2022 to Q4 2022. In this blog post, we will examine some of the notable changes in their portfolio and explore what they might mean for investors.

One of the biggest changes in Reinhart Partners' portfolio was their move into U HAUL HOLDING CO. They did not hold any shares of Uhaul in Q3 2022, but by Q4 2022, they had acquired 1.2 million shares, worth over $66 million. Uhaul is a well-known provider of moving trucks and trailers, as well as self-storage facilities. Despite the disruptions caused by the COVID-19 pandemic, the company has seen strong demand for its services, as people continue to relocate due to changing work or lifestyle needs. As such, Reinhart's move into Uhaul suggests that they believe the company is well-positioned for continued growth in the coming months.

Another notable change in Reinhart's portfolio was their reduction in holdings of LKQ CORP COM. In Q3 2022, they held 485,219 shares of the automotive parts supplier, worth over $22 million. However, by Q4 2022, they had sold off more than a third of those shares, leaving them with just 335,633. This move is somewhat surprising, given that LKQ has been performing well in recent months. The company's revenues and earnings have both been growing steadily, and they recently announced a new $500 million share buyback program. However, it's possible that Reinhart sees more attractive investment opportunities elsewhere, or that they believe LKQ's growth potential has been fully priced into the stock.

Reinhart also made a significant investment in MAXAR TECHNOLOGIES INC COM during Q4 2022. They acquired over 1 million shares of the satellite operator, worth over $60 million. Maxar has been seeing strong demand for its satellite imagery and geospatial data products from a variety of customers, including governments, militaries, and commercial companies. This demand is expected to continue growing as more and more companies rely on satellite imagery to inform their decision-making processes. Reinhart's move into Maxar suggests that they believe the company has a bright future ahead.

Other notable changes in Reinhart's portfolio include their move into HILLMAN SOLUTIONS CORP COM, which provides hardware and home improvement products, their increased investment in ENCOMPASS HEALTH CORP COM, which operates rehabilitation hospitals and clinics, and their reduction in holdings of TRINET GROUP INC COM, which provides human resources outsourcing services.

Overall, Reinhart Partners' Q4 2022 13F filing shows a number of interesting moves in their portfolio. While it's impossible to know for sure what their thought processes were behind each investment decision, it's clear that they are actively seeking out new opportunities and adjusting their holdings accordingly. Investors looking for new ideas for their own portfolios may want to take a closer look at some of the companies highlighted in this post.