Summit Street Capital Management Q3 vs. Q4 2022 13F Holdings Comparison: Portfolio Gains 8.2% in Value with Mostly Positive Changes

Summit Street Capital Management, LLC is a registered investment advisory firm that manages over $1 billion in assets. The firm was founded in 2011 and has offices in New York and Cleveland. In this blog post, we will review the changes in holdings of Summit Street Capital Management, LLC's portfolio over the past quarter, as reported in their Q3 2022 vs. Q4 2022 13F Holdings Comparison.

The 13F Holdings Comparison is a quarterly report filed by institutional investment managers with the U.S. Securities and Exchange Commission (SEC). The report discloses the manager's holdings of publicly traded securities as of the end of the quarter. These reports are 45 days after the end of each quarter and are publicly available.

The report provided by Summit Street Capital Management, LLC shows that the total value of their holdings in Q3 2022 was $138,980,000, while the total value of their holdings in Q4 2022 was $150,371,000, which represents a change of 8.2%. The report also shows that the number of shares held by the firm in Q4 2022 increased from Q3 2022 by 0.1%.

Berkshire Hathaway Inc Del (BRK-A) was the top holding in Q3 2022 and remained so in Q4 2022. Summit Street Capital Management, LLC held 58 shares of the company in both quarters, with a value of $23,575,000 in Q3 2022 and a value of $27,185,000 in Q4 2022, a change of 15.3%.

Texas Pacific Land Corporation (TPL) and United Therapeutics Corp Del (UTHR) were the second and third top holdings in Q3 2022, respectively. Like Berkshire Hathaway, these two companies saw stability in their holdings, with 3447 and 29,041 shares held by Summit Street Capital Management, LLC in both Q3 and Q4 2022. However, the value of these holdings increased in Q4, with TPL's value increasing 31.9% and UTHR's value increasing 32.8%.

HF Sinclair Corp (DINO) was the only holding whose value decreased from Q3 to Q4 2022, dropping by -3.6%. However, this drop was not reflected in its number of shares held, which remained stable at 145,014.

The biggest change in the Summit Street Capital Management, LLC portfolio was in the holdings of Warner Bros Discovery Inc (WBD), which decreased by 14.6% in value and now represent just 2.5% of the total portfolio.

Kulicke & Soffa Inds Inc (KLIC) holdings also decreased substantially, dropping by 15.5% in value, as did holdings in Fox Corp (FOXA), which dropped by 22.7% in value.

Other companies in the portfolio experienced significant increases in value, including Buckle Inc (BKE), which increased by 43.3%, and Gilead Sciences Inc (GILD), which increased by 39.2%.

Overall, the Summit Street Capital Management, LLC portfolio saw mostly positive changes from Q3 to Q4 2022. The firm's management strategy, which focuses on quality over quantity and a strong bottom-up investment process, appears to have protected its portfolio through market volatility. Investors should note, however, that these holdings may change further from what is indicated in the 13F report, and that past performance is not necessarily indicative of future results.