Sizing Up Sound Point Capital Management's Q3-Q4 13F Holdings: It's All About Tech and Gold

Sound Point Capital Management is a formidable force in the world of hedge funds, and investors always eagerly await its quarterly 13F filings to gain insights into the firm's latest moves. The latest filing covering Q3 and Q4 of 2021 reveals that Sound Point has made significant changes to its portfolio, with a number of notable additions and subtractions.

First and foremost, it's clear that Sound Point has been bullish on technology stocks, with Dish Network Corporation being the standout addition to its holdings. The fund added over one million shares of Dish Network Corporation in Q4, bringing its total position to 2,686,000 shares. The move paid off handsomely, with the value of the firm's Dish stakes rising from $2,292,000 to $2,530,000, a gain of 10.4%.

Sound Point also made smaller tech-related moves with a purchase of MAXAR Technologies Inc and Sinclair Broadcast Group Inc. While Sound Point reduced its holdings of IHRT and Gray Television Inc, it added to its stakes in Mudrick Capital Acquisition Corp II.

The other major theme of Sound Point's Q3-Q4 13F filings is gold. The fund maintained its position in SPDR Gold Trust, with the number of shares remaining the same, but the value of the stake rising from $7,029,000 to $7,317,000, a gain of 4.1%. Sound Point's other gold-related holding, VanEck ETF Trust, also rose by 8.8%.

There were some notable subtractions from Sound Point's portfolio, including Clear Channel Outdoor Holdings, which the fund reduced its holdings by around 75% (from 326,189 shares to 251,189 shares) between Q3 and Q4. The fund also exited completely from positions in SPDR S&P 500 ETF Trust, Loral Space & Communications Inc, National CineMedia Inc and Telesat Corp.

Overall, Sound Point's 13F filings show that the fund has been making some bold moves, particularly in regards to tech stocks and gold assets, while cutting back on some of its previous holdings. Only time will tell if these moves prove to be wise ones, but at the very least, Sound Point is positioning itself to take advantage of the rapidly-changing market conditions in 2022.