Oakview Capital Management, L.P.: A Look at Q3 and Q4 2022 13F Holdings
Ava Hoppe | 10 May, 2023
Oakview Capital Management, L.P. is a hedge fund that primarily invests in technology, healthcare, and consumer staples sectors. As of Q4 2022, the firm had over $7.5 billion in assets under management. Like all institutional investment managers with over $100 million in assets under management, Oakview is required to file a quarterly report on Form 13F with the Securities and Exchange Commission (SEC).
In this report, we will compare Oakview's holdings between Q3 and Q4 2022, based on the data provided in the table above. We will examine the biggest winners and losers in the fund's portfolio, how the fund's sector composition changed, and what these changes might mean for the firm's investors.
Sector Composition
Before diving into specific holdings, it's worth noting how the sector composition of Oakview's portfolio changed between Q3 and Q4 2022. In Q3 2022, the fund's largest sector holdings were technology (35.6%), healthcare (15.7%), and consumer staples (13.8%). By Q4 2022, the sector composition had shifted slightly, with the largest sector holdings being technology (36.8%), healthcare (14.4%), and industrials (9.3%). This suggests that the fund may have increased its exposure to industrial stocks in Q4 2022.
Winners
The biggest winner in Oakview's portfolio between Q3 and Q4 2022 was CarMax Inc (KMX). In Q3 2022, the company represented 2.4% of the fund's portfolio, with 132,170 shares. By Q4 2022, Oakview had significantly increased its position, with 271,604 shares representing 3.6% of the fund's portfolio. This increase in position also resulted in a significant increase in value, with the Q3 2022 value of $8.7 million increasing to $16.5 million in Q4 2022.
Another notable winner in the fund's portfolio was Dow Inc (DOW). In Q3 2022, the company represented 3.0% of Oakview's portfolio, with 218,751 shares. By Q4 2022, the position had increased to 226,867 shares, representing 3.0% of the portfolio. The value of the position also increased from $9.6 million in Q3 2022 to $11.4 million in Q4 2022.
Losers
The biggest loser in Oakview's portfolio between Q3 and Q4 2022 was U-Haul Holding Company (UHAL). In Q3 2022, Oakview did not have any shares of the company. However, in Q4 2022, the firm had acquired 213,017 shares, representing 2.8% of the portfolio. Despite Oakview's bullish move, the value of the position decreased from $11.7 million in Q4 2022 to $1.9 million in Q4 2022, resulting in a loss of 88% for the quarter. This could be a warning sign for Oakview if the trend continues.
Another notable loser in the fund's portfolio was U-Haul Holding Company (UHAL-B). In Q3 2022, the company did not represent any of Oakview's holdings. However, by Q4 2022, the firm had acquired 213,017 shares, representing 2.8% of the portfolio. Despite the bullish move, the value of the position was zero in Q3 2022 and had only increased to $11.7 million in Q4 2022.
Conclusion
Overall, Oakview Capital Management, L.P.'s Q3 and Q4 2022 13F filings show a relatively stable portfolio, with changes in sector composition and a few notable winners and losers. Notably, the fund seems to have increased its exposure to both the industrial sector and U-Haul Holding Company. While past performance is not necessarily indicative of future results, this information could be useful for investors looking to understand the investment strategy of this well-known hedge fund.
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