Interesting plays: What did hedge funds buy in the last quarter of 2022? – The Average Joe
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    Interesting plays: What did hedge funds buy in the last quarter of 2022?

    victorlei

    February 15, 2023

    Four times a year, we hit the gym (gotta’ stay in shape), give our boss a reason why we can’t return to the office and take a look at what Axe Cap + other hedgies are buying.

    We’ll focus on those that are:

    • Consistently generating strong returns. No one hit wonders here.
    • Long-term focused. By the time these trades reach us, they’re months delayed.

    Here are some interesting moves…

    1/ Skye Global (49.66% annualized return, 2016-2021), a big tech-concentrated fund with 19 open positions

    • Bought one new stock last quarter — e-commerce software giant Shopify (NYSE:SHOP). Position is small at 0.40% of its portfolio.
    • Major sell: Sold all Visa (NYSE:V) positions (previously 5.4% of portfolio)

    2/ Night Owl Capital (27.2% annualized return, 2016-2021) with 17 open positions. They made two moves:

    • Bought the SPDR Bloomberg 1-3 Month T-Bill ETF (NYSE:BIL), making up 2.77% of portfolio.
    • Bought Netflix (NASDAQ:NFLX), now making up 2.3% of their portfolio.

    2/ Voss Capital (20% annualized return, 2016-2021), a value-oriented fund.

    🚨 Interesting play alert. Voss added heavily to their International Money Express Inc (NASDAQ:IMXI) position (5.6% of portfolio)

    • The company lets customers send money from the US/Canada to Latin America and other global countries.
    • Cheap (12.7x forward P/E ratio), profitable (last 3-years) and growing (116% four-year sales growth) business.

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