Harvey Partners, LLC Q3 2022 vs. Q4 2022: Analyzing Big Changes in Investment Holdings

Harvey Partners, LLC is a New York-based investment management firm managing over $460M in assets. In its latest 13F filing, the firm revealed some significant changes to its holdings in the last quarter of 2022 compared to the previous quarter. In this blog post, we analyze the holdings' changes, their impacts, and what could have influenced Harvey Partners' investment decisions.

Valmont Industries (VMI) and Thermon Group Hldgs Inc (THR): Opposite Changes

Valmont Industries was among Harvey Partners' significant holdings during Q3 2022, with 199,471 shares worth $53,582,000. However, the firm surprisingly divested 80,471 shares (26.6%) in Q4, leaving only 119,000 shares worth $39,349,000. In contrast, Harvey Partners bought 321,100 (32.6%) more shares of Thermon Group, increasing its stake to 1,862,100 shares worth $37,390,000.

Compass Minerals Intl Inc (CMP) and Orion Engineered Carbons SA (OEC): Similar Changes

Harvey Partners made similar moves for Compass Minerals and Orion Engineered Carbons. For the former, the firm bought 118,000 more shares in Q4, representing a 22.3% increase in shares held. In contrast, for Orion Engineered Carbons, Harvey Partners divested 353,500 shares, representing a 16.9% decrease in shares held.

MRC Global Inc (MRC): A Significant Addition

Harvey Partners added 191,132 shares of MRC Global Inc to its portfolio, amounting to a 6.1% increase from Q3 2022 holdings. The new shares had a total value of $14,995,000, with the firm's total holding at 3,156,332 shares worth $36,553,000.

Manchester Utd Plc New (MANU): A Huge Gain

Among Harvey Partners' holdings, Manchester Utd Plc made the most significant gain, surging by 76.2% in Q4 2022. The firm bought an additional 2,930 shares, taking its total holdings to 1,405,000 shares with a value of $32,778,000.

Under Armour Inc (UAA): Another Huge Gain

Under Armour Inc was another of Harvey Partners' holdings that gained significantly during Q4 2022. The firm bought 575,000 extra shares, a 104.5% increase, taking its holdings to 2,275,000 shares with a total value of $23,114,000.

Rentokil Initial Plc (RTOKY): A Significant New Holding

Harvey Partners acquired 533,296 shares of Rentokil Initial Plc in Q4, setting its new holdings at a total of 533,296 shares with a value of $16,430,000.

Varonis Sys Inc (VRNS) and Waste Connections Inc (WCN): Contrasting Changes

Harvey Partners divested 847,500 shares (521.6% decrease) in Varonis Sys Inc during Q4 2022, leaving only 105,000 shares worth $25,137,000. On the other hand, the firm added 157,500 shares (100% increase) of Waste Connections Inc, taking its holdings to 157,500 shares worth $20,878,000.

Harvey Partners Q3 vs. Q4 2022: Conclusion

From the analysis, it's clear that Harvey Partners made significant changes to its holdings between Q3 and Q4 2022, divesting some shares and acquiring others. As usual, some holdings gained substantially, while others struggled. However, it's worth noting that holdings changes could be due to various factors, including market conditions, asset managers' strategy, and macroeconomic events. Therefore, it's crucial to consider these factors while analyzing 13F filings to avoid misinterpreting holdings changes.