Interesting plays: What did hedge funds buy in the last quarter of 2022?
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.