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hello everyone welcome to your algo lab if you're curious about what the Savvy investors on Wall Street are doing this episode is for you today we're taking a deep dive into the latest filings from some of the biggest hedge funds and institutional investors we'll break down their recent moves highlight their biggest bets and uncover the trends that could impact the market so without further delay let's get started a 13f filing is a quarterly report that the US Securities and Exchange Commission SEC requires from institutional investment managers with at least $100 million in assets under management known officially as form 13f these filings provide details about the equity Holdings of these institutional managers including hedge funds mutual funds and Pension funds these details can be accessed through the US Securities and Exchange commission's SEC Edgar system which stands for electronic data Gathering analysis and retrieval here are some key points about 13 F filings institutional managers must submit 13 F filings to the SEC within 45 days after the end of each calendar quarter resulting in four filings per year 13 F filings disclose only long positions in exchange traded stocks shares of closed end investment companies and ETFs certain convertible debt Securities Equity options and warrants listed on the official list may also be reported these filings only cover holding of Securities traded on us exchanges investments in markets outside the US are not included we should understand that 13 F filings have two main limitations missing information and untimely data first 13 F filings do not include a fund's short positions or International Investments if a fund is primarily net long the filings can be helpful but for net short strategies they may be misleading by only showing long positions additionally International positions are not included in these filings second the data is often untimely institutional managers have 45 days after the quarter's end to submit 13 F filings so they may reflect decisions made months earlier this delay is especially significant for firms which frequently trade and whose filings May no longer represent their current positions San asset management was founded in 2013 by Dr Michael J bur a well-known investor who famously predicted the 200 financial crisis by betting against the US housing market through his previous firm Scion Capital bur's success in shorting subprime mortgage bonds was highlighted in Michael Lewis's book The Big Short and its film adaptation after closing cyan capital in 2008 to manage his own money bar reestablished his investment business with cyan Asset Management focusing on value investing deep fundamental analysis and contrarian bets The Firm manages a diverse portfolio across equities options and alternative assets now let's look at Canan asset Management's 13f filing in detail by compiling 13 F filings we can construct Scion asset Management's Equity portfolio let's begin by examining the sector allocation here we present the historical sector allocation from the first quarter of 2015 to the most recent filing in the second quarter of 2024 the allocations are displayed in a histogram along with the underlying percentages science Asset Management sector allocation varies widely from quarter to quarter with some periods showing no equity Holdings at all currently the consumer discretionary sector represents the largest portion of the portfolio at 40% the financial sector is the second largest at 19% followed by healthc Care at 16% next let's examine the individual stock positions starting with the top five Holdings in Scion asset Management's Equity portfolio these top five Holdings make up 74% of the portfolio indicating a high level of concentration here we'll plot the individual stock prices adjusted for dividends alongside their holding positions in number of shares we'll also compare each Stock's annual total performance with its corresponding industry together with their differences for comparison as of Q2 2024 Alibaba makes up 21% of Scion asset Management's Equity portfolio the fund has bought and sold Alibaba several times in the past but since since Q3 2023 can has steadily increased its position in the company Alibaba is not the only Chinese stock in the top five Holdings there are two more which together account for 45% of the portfolio reflecting cion asset Management's bullish stance on Chinese stocks particularly Alibaba Alibaba operates within the consumer discretionary sector and the Broadline retail sub sector alongside competitors like Amazon and PDD the company has been significantly affected by China's economic slowdown in recent years resulting in substantial underperformance compared to the sector Shift 4 payments is the second largest holding in Scion asset Management's portfolio accounting for 14% of its Equity Investments the company went public on the nysse in June 2020 raising $345 million in its IPO and was among the few firms to do so shortly after the onset of the covid-19 pandemic Scion Asset Management established its initial position in Shift 4 in Q2 2024 the company operates in the financial sector specifically in the transaction and payment processing Services sub sector alongside major competitors like Visa Mastercard and PayPal since its IPO shift 4's performance has shown significant variation compared to the broader sector Molina healthare is the third largest holding in Scion asset Management's portfolio representing 14% of its Equity Investments the fund established this position in Q2 2024 Molina's stock performance has been impressive but has shown considerable variation compared to its sector the company operates in the healthc care sector specifically within the Managed healthc Care sub sector the healthcare sector is generally considered more defensive often outperforming during economic downturns as observed in 2015 2018 2020 and 2022 next is Buu which makes up 12% of the portfolio Scion Asset Management increased its position in Q2 2024 Buu operates in the communication Services sector specifically within the interactive media and services sub sector alongside other major players like alphabet meta and tensent the communication Services sector tends to perform well during periods of economic strength and underperform during downturns as seen in 2015 2018 and 2022 however 2020 was an exception as the sector benefited from the impacts of the covid-19 pandemic jd.com is the fifth largest holding making up 12% of the portfolio while Scion Asset Management has traded jd.com several times in the past it has steadily increased its position since Q3 2023 similar to Alibaba jd.com has been impacted by China's economic slowdown in recent years JD .
like Alibaba operates within the consumer discretionary sector specifically in the Broadline retail sub sector alongside companies such as Amazon and PDD the consumer discretionary sector shows mixed performance during economic downturns experiencing negative returns in some periods like 2018 and 2022 while outperforming in others such as 201 and 2020 let's review the reduced and sold out positions Scion Asset Management red Ed its position in jd.com by 31% bringing it down to 250,000 shares the holding in real reel was also decreased by 29% now totaling 1 million shares 2third of the portfolio at the end of q1 2024 was liquidated let's examine the increased and new positions Scion Asset Management increased its position in Alibaba by 24% raising its total to 155,000 shares the stake in Buu was also increased by 88% bringing it to 75,000 shares new additions to the portfolio include Shift 4 Molina Hudson Pacific Olex and Bo atler on this channel we share tested strategies for investing and trading covering everything from technical analysis and fundamentals to economic Trends and sentiment-based algorithms if you don't want to miss out on any of our content be sure to like subscribe and hit the Bell icon to stay in the loop thanks for watching and I'll see you in the next video
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