Contour Asset Management LLC Q3 2022 vs. Q4 2022 13F Holdings Comparison

Are you curious about how a hedge fund's holdings can change in just one quarter? The 13F filings from Contour Asset Management LLC for Q3 2022 and Q4 2022 have been released, and we can see the shifts in their portfolio. Let's take a closer look.

Netflix Takes the Lead

Netflix Inc. has become Contour's largest holding, with a 140.9% increase in shares, totaling 433,769. The value of their holdings has also increased significantly, rising from $42,506,000 to $127,909,000, which is a 200.9% increase. The streaming giant had a solid Q4 with the ongoing pandemic and the holiday season boosting the company's revenue.

Oracle on the Rise

While Oracle Corp was not present in Contour's Q3 portfolio, it's now their second-largest holding, with 1,549,930 shares in Q4. The tech company has shown a strong performance in the recent quarters with growth in cloud services.

Workday and Meta Platforms on the Move

Workday Inc. is featured as Contour's third-largest investment, with a 89.2% increase in shares in Q4. Meta Platforms Inc follows as their fourth-largest holding, albeit not present in their Q3 portfolio. Meta Platform’s revenue has been surging thanks to higher advertising prices on the social media giant even under antitrust scrutiny.

Twilio and New Relic Take a Plunge

While Contour did not hold Twilio Inc and New Relic Inc in their Q3 portfolio, it's worth noting the significant changes in their Q4 holdings. Twilio is their fifth-largest holding, holding 2,143,118 shares in Q4, while New Relic has taken a hit in the same period, with a 13.9% decrease in shares. However, on the other side has five9, also among the largest holding, with a 15.5% increase in the same period.

Other Notable Holdings

Seagate Technology Holdings and Comcast did not feature in Q3, but the hedge fund invested in them in Q4, with 519,157 and 928,740 shares, respectively. Cargo and Momentive Global faced a decline in shares in Q4, with 56.6% and 4.4% decreases, respectively. TripAdvisor Inc faced a 19% decrease in shares, falling to 11,405 shares. Shopify's competitor - BigCommerce has been seeing competition from the new player `TOAST INC` as the hedge invested in 1703500 shares in the same period.

In Conclusion

Hedge funds can shift their investments significantly quarter over quarter, and Contour Asset Management LLC is no different. While Netflix showed strength, it's Oracle Corp and Workday Inc that made a significant debut on their top holdings. It's fair to say that hedge fund investments are always subject to market volatility and big swings. Therefore, investors must keep a close eye on these holdings to track how market trends and company performance are impacting these investments.