Toscafund Asset Management's Q3 and Q4 2022: A Look at Their Holdings

Toscafund Asset Management LLP recently filed their 13F with the SEC for the third and fourth quarters of 2022, revealing their holdings for that period. It's always interesting to see what changes have been made by institutional investors during this time, and Toscafund is no exception. In this blog post, we'll take a closer look at Toscafund's Q3 and Q4 13F filings and the notable changes in their holdings.

First, it's worth noting that Toscafund Asset Management is a London-based investment firm with a global reach. They specialize in long/short equity investing in the technology, media, and telecom sectors, among others. They utilize a fundamental and quantitative approach to investing, which allows them to identify undervalued stocks in various markets.

JACKSON FINANCIAL INC

Toscafund increased its holdings in Jackson Financial Inc by 29,291 shares, representing an increase of 8.06% when compared to Q3 2022. The company's value also increased from $10.04 million in Q3 2022 to $13.61 million in Q4 2022, a rise of 35.5%. This suggests that Toscafund sees growth potential in the financial services company, which provides investment solutions, capital management, and retirement services to its clients.

BRP GROUP INC

Toscafund also increased its holdings in BRP Group Inc, although not as much as Jackson Financial. They added 46,015 shares, representing an increase of 14.76% from Q3 2022. The value of the holding increased from $8.22 million in Q3 2022 to $8.99 million in Q4 2022. BRP Group is an insurance brokerage company that Toscafund may consider undervalued by the market.

COREBRIDGE FINANCIAL INC

Toscafund's holdings in Corebridge Financial Inc declined by 419,079 shares in Q4 2022. This 85.30% reduction could be due to a multitude of reasons. The value of the holding also decreased from $9.67 million in Q3 2022 to $1.50 million in Q4 2022. Toscafund likely saw a decline in growth potential with this holding.

SCULPTOR CAPITAL MANAGEMENT

Toscafund purchased 110,000 shares of Sculptor Capital Management in Q4 2022 after not holding any shares in Q3 2022. This purchase cost Tatton £0.95 million and may indicate a bullish sentiment toward the investment manager, which had more than $50 billion assets under management as of September 2022.

PLYMOUTH INDUSTRIAL REIT INC

Toscafund exited their holdings in Plymouth Industrial REIT Inc in Q4 2022. This is a 100% reduction from Q3 2022, indicating a loss of confidence in the REIT. In Q3 2022, the holding was valued at $7.09 million.

HERTZ GLOBAL HOLDINGS INC

Toscafund also sold its entire holding in Hertz Global Holdings Inc during Q4 2022. The automotive equipment rental company had been struggling in recent years, and Toscafund likely saw little growth potential for this stock. In Q3 2022, the holding value was $5.65 million.

CAESARS ENTERTAINMENT INC NE

Toscafund sold its entire holding in Caesars Entertainment Inc NE during Q4 2022. The casino and hotel operator had been struggling with pandemic-related issues, and Toscafund may not have seen it as a sound investment opportunity in Q4 2022. In Q3 2022, the holding value was $5.56 million.

CONCLUSION

In conclusion, Toscafund Asset Management LLP made some interesting moves in Q3 and Q4 2022, such as adding new companies to their holdings, increasing stakes in some stocks, and exiting others completely. The results highlight how important sectoral and quantitative analysis can be when investing. While we can't be entirely sure what motivated Toscafund's moves, we know that they are a well-respected institutional investor with a track record of success. It will be worth monitoring their moves in future 13F filings and seeing if they continue to adjust their holdings.