Investing in style: A look at Legion Partners' Q3 2022 vs. Q4 2022 13F Holdings

In recent years, investing has become increasingly accessible to the general public as technology has made it easier to get started with just a few clicks. Many investors have started turning to 13F filings to track how the world's top asset managers are allocating their funds. One such notable manager is Legion Partners Asset Management, LLC - a hedge fund headquartered in California that manages nearly $1.5 billion in assets. In this blog post, we will be taking a closer look at Legion Partners' Q3 2022 vs. Q4 2022 13F holdings comparison and what it means for investors.

Notable Holdings Changes

In Q3 2022, Legion Partners had a total of 17 stock holdings worth $430,302,000, and by Q4 2022, the fund had increased its total number of holdings by three, raising the total value of all holdings to $442,050,000. The most significant changes in holdings are as follows:

GCO

Legion Partners Asset Management increased its holding in GCO by 5,862 shares or 0.63%. The total value of the shares at the end of Q4 2022 was $42,708,000 - a 17.8% increase from the previous quarter. GCO is a leading retailer of footwear, hats, clothing, and accessories with 1,486 stores across twelve countries, including the United States, Canada, the United Kingdom, and Germany.

OSPN

Legion Partners Asset Management increased its holding in OSPN by 283,319 shares or 8.87%. The total value of the shares at the end of Q4 2022 was $38,903,000 - a 41.5% increase from the previous quarter. OSPN is a cybersecurity company that provides secure access solutions for banks, government organizations, and other businesses.

TWLO

Legion Partners Asset Management added a new holding in Twilio Inc. by purchasing 601,000 shares. The total value of the shares at the end of Q4 2022 was $29,424,000. Twilio is a cloud communications platform that offers a range of products and services that allow developers to add messaging, video and voice functionalities to their applications.

USFD

Legion Partners Asset Management reduced its holding in US Foods Holding Corp. by 746,300 shares or 73.8%. The total value of the shares at the end of Q4 2022 was $9,021,000 - a 66.2% decrease from the previous quarter. USFD is a leading foodservice distributor in the United States, serving independent and multi-unit restaurants, healthcare and hospitality industries, and other customers.

While the holdings of Legion Partners Asset Management saw many changes in Q3 2022 and Q4 2022, it is essential to note that holding values only tell a part of the story. Still, they provide valuable insights into what the investment managers deem worthwhile. As always, it is crucial to perform a thorough analysis of the holdings, the market sector, and related industries before making any investment decisions.

Conclusion

Investing in the stock market can be a profitable endeavor, but it comes with significant risks. One way to mitigate those risks is to keep a close look at which stocks asset managers are investing in, and by extension, investing following their lead. 13F filings are an excellent resource for investors to examine their decisions and weigh their investment choices. While following the lead of the world's top investment managers is not guaranteed to lead to profit every time, it certainly can increase your chances of success.