Finepoint Capital LP Q3 2022 vs. Q4 2022: A Comprehensive Analysis of Fund Holdings

As an investor, keeping track of the holdings of various funds is crucial for making informed investment decisions. One of the ways to do this is by analyzing 13F filings, which provide a glimpse into the investments of institutional investors, including hedge funds and asset managers. In this article, we'll take a deep dive into the Q3 2022 vs. Q4 2022 13F holdings comparison of Finepoint Capital LP, one of the prominent hedge funds in the market.

Before delving into the data provided in the CSV, it's worth noting that the 13F filings are only required for institutional investors with a certain threshold of assets under management. Additionally, the filings are made public 45 days after the end of each quarter, giving investors time to adjust their positions accordingly.

Now let's turn our attention to the data provided in the CSV. The first thing that jumps out is the significant decrease in the value of the fund's holdings, with the total value dropping from $2.02 billion in Q3 2022 to $1.47 billion in Q4 2022. This represents a decrease of approximately 27%, indicating a significant shift in the fund's investment strategy.

The largest holding in the fund's portfolio in both quarters was Travere Therapeutics Inc (TVTX), a biopharmaceutical company focused on treating rare diseases. While the number of shares held remained relatively stable between the two quarters, the value decreased by almost 15%. Other major holdings in the fund's Q4 2022 portfolio include Algoma Steel Group Inc (ASTL) and Prothena Corp PLC (PRTA).

One notable change in the fund's portfolio is the addition of several SPACs, or special purpose acquisition companies, in Q4 2022. These include Ares Acquisition Corp (AAC/WS), Summit Healthcare Acquisition Corp, and Corsair Partnering Corp, among others. These additions suggest a potential shift in the fund's investment strategy towards the booming SPAC market.

However, the fund also saw significant decreases in the value of its holdings in certain companies, including Iovance Biotherapeutics Inc (IOVA) and Arvinas Inc (ARVN), with both stocks seeing value decreases of over 17%. On the other hand, several holdings saw value increases, including Zimmer Energy Transition Acquisition Corp (ZTAQW) and Ascendis Pharma A/S (ASND).

It's worth noting that the changes in holdings between quarters don't necessarily mean that the fund has completely divested from certain companies or sectors. Several holdings that saw a decrease in value remained in the fund's portfolio in Q4 2022, indicating a potential shift in the fund's outlook on certain companies or sectors.

Overall, the Q3 2022 vs. Q4 2022 13F holdings comparison of Finepoint Capital LP provides valuable insights into the investment strategy of one of the prominent hedge funds in the market. While the fund saw a significant decrease in the value of its holdings, the addition of several SPACs suggests a potential shift in the fund's outlook. As always, investors should conduct their due diligence before making any investment decisions based on the fund's holdings.