Insight into Private Capital (Trades, Portfolio)'s Latest 13F Filings for Q3 2023
Private Capital (Trades, Portfolio) Management, steered by the investment acumen of Gregg J. Powers, has revealed its 13F holdings for the third quarter of 2023. Founded by Bruce Sherman in 1986 and now under Powers' leadership, the firm adheres to a value investing philosophy, targeting stocks at a significant discount to their intrinsic value. This approach emphasizes thorough research, risk management, and patience, aiming to secure long-term capital appreciation for its clients.
New Additions to the Portfolio
During the third quarter, Private Capital (Trades, Portfolio) expanded its portfolio with 11 new stocks. Noteworthy additions include:
- BGC Group Inc (BGC, Financial), with 2,661,250 shares, making up 1.66% of the portfolio and valued at $14.05 million.
- Shore Bancshares Inc (SHBI, Financial), comprising 250,941 shares, which is approximately 0.31% of the portfolio, with a total value of $2.64 million.
- EverQuote Inc (EVER, Financial), with 202,666 shares, accounting for 0.17% of the portfolio and a total value of $1.47 million.
Significant Position Increases
Private Capital (Trades, Portfolio) also raised its stakes in 33 stocks, with the most significant increases being:
- Everi Holdings Inc (EVRI, Financial), with an additional 467,988 shares, bringing the total to 1,680,545 shares. This represents a 38.6% increase in share count, a 0.73% impact on the current portfolio, and a total value of $22.22 million.
- Harrow Inc (HROW, Financial), with an additional 264,554 shares, bringing the total to 1,416,900. This adjustment signifies a 22.96% increase in share count, with a total value of $20.36 million.
Exiting Positions
Private Capital (Trades, Portfolio) completely divested from 12 holdings in the third quarter of 2023, including:
- The Community Financial Corp (TCFC, Financial), where Private Capital (Trades, Portfolio) sold all 101,450 shares, impacting the portfolio by -0.33%.
- Tyson Foods Inc (TSN, Financial), with all 49,300 shares liquidated, causing a -0.3% impact on the portfolio.
Reduced Holdings
Furthermore, the firm reduced its positions in 52 stocks. The most substantial reductions include:
- First Busey Corp (BUSE, Financial) by 368,509 shares, resulting in a -47.29% decrease in shares and a -0.88% impact on the portfolio. The stock traded at an average price of $20.64 during the quarter and has returned 3.82% over the past three months and -8.10% year-to-date.
- Imax Corp (IMAX, Financial) by 247,188 shares, leading to a -24.34% reduction in shares and a -0.5% impact on the portfolio. The stock traded at an average price of $18.43 during the quarter and has returned -10.53% over the past three months and 17.67% year-to-date.
Portfolio Overview
As of the third quarter of 2023, Private Capital (Trades, Portfolio)'s portfolio encompasses 140 stocks. The top holdings include 9.85% in Target Hospitality Corp (TH, Financial), 5.21% in Perion Network Ltd (PERI, Financial), 4.82% in KKR & Co Inc (KKR, Financial), 4.72% in QuinStreet Inc (QNST, Financial), and 4.23% in StoneX Group Inc (SNEX, Financial). The investments are predominantly distributed across 10 industries, with a focus on Financial Services, Industrials, Communication Services, Consumer Cyclical, Technology, Healthcare, Basic Materials, Energy, Consumer Defensive, and Utilities.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
