Forest Avenue Capital Management LP's Q1 2023 13F: 16 new positions, 7 exits
Form 13F-HR for the quarter ended Mar 31, 2023 · filed May 12, 2023 · 21 reported positions · accession 0001944889-23-000003
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | META PLATFORMS INC (META) | — | 8.2% | +8.2 pts | +53,755 sh | new |
| Exited | EQT CORP (EQT) | 8.1% | — | −8.1 pts | −226K sh | −100% |
| Exited | RH (RH) | 8.1% | — | −8.1 pts | −28,422 sh | −100% |
| Exited | CONSTELLATION ENERGY CORP (CEG) | 7.8% | — | −7.8 pts | −85,300 sh | −100% |
| Exited | ANTERO RESOURCES CORP (AR) | 7.8% | — | −7.8 pts | −236K sh | −100% |
| Exited | CSX CORP (CSX) | 7.4% | — | −7.4 pts | −224K sh | −100% |
| New | CHART INDS INC (GTLS) | — | 6.4% | +6.4 pts | +71,100 sh | new |
| New | MASTEC INC (MTZ) | — | 6.4% | +6.4 pts | +93,200 sh | new |
| New | FRONTLINE PLC (FRO) | — | 5.9% | +5.9 pts | +490K sh | new |
| New | SCORPIO TANKERS INC (STNG) | — | 5.7% | +5.7 pts | +141K sh | new |
| New | PG&E CORP (PCG) | — | 5.6% | +5.6 pts | +480K sh | new |
| Exited | RICE ACQUISITION CORP II (RONIU) | 5.6% | — | −5.6 pts | −500K sh | −100% |
| New | REGAL REXNORD CORPORATION (RRX) | — | 5.0% | +5.0 pts | +49,698 sh | new |
| Reduced | FIRST SOLAR INC (FSLR) | 8.2% | 3.1% | −5.1 pts | −31,950 sh | −62% |
| New | PBF ENERGY INC (PBF) | — | 4.7% | +4.7 pts | +151K sh | new |
| New | ARCH RESOURCES INC (ARCH) | — | 4.1% | +4.1 pts | +43,597 sh | new |
| New | LULULEMON ATHLETICA INC (LULU) | — | 3.3% | +3.3 pts | +12,600 sh | new |
| New | HYATT HOTELS CORP (H) | — | 3.3% | +3.3 pts | +41,000 sh | new |
| Exited | FRONTLINE LTD (FROXXXX) | 3.0% | — | −3.0 pts | −230K sh | −100% |
| New | FOOT LOCKER INC (FL) | — | 2.7% | +2.7 pts | +94,700 sh | new |
| New | CALLON PETE CO DEL (CPE) | — | 2.4% | +2.4 pts | +101K sh | new |
| Reduced | TEMPUR SEALY INTL INC (SGI) | 9.4% | 5.6% | −3.7 pts | −58,500 sh | −23% |
| New | ARCONIC CORPORATION (ARNC) | — | 1.6% | +1.6 pts | +83,075 sh | new |
| New | EURONAV NV (CMBT) | — | 1.3% | +1.3 pts | +104K sh | new |
| Increased | BATH & BODY WORKS INC (BBWI) | 11.0% | 7.4% | −3.7 pts | +33,300 sh | +14% |
| Increased | CHENIERE ENERGY INC (LNG) | 9.9% | 7.7% | −2.3 pts | +5,100 sh | +8% |
| New | RICE ACQUISITION CORP II (RONIWS) | — | 0.1% | +0.1 pts | +125K sh | new |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 68.3% of the equity book
Changes in the top 10 this quarter: META entered · GTLS entered · MTZ entered · FRO entered · STNG entered · PCG entered · FSLR left · EQT left · RH left · CEG left · AR left · CSX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | DENBURY INC (DEN) | 13.8% | 9.4% | |
| 2 | META PLATFORMS INC (META) | 0.0% | 8.2% | Entered the top 10 |
| 3 | CHENIERE ENERGY INC (LNG) | 9.9% | 7.7% | |
| 4 | BATH & BODY WORKS INC (BBWI) | 11.0% | 7.4% | |
| 5 | CHART INDS INC (GTLS) | 0.0% | 6.4% | Entered the top 10 |
| 6 | MASTEC INC (MTZ) | 0.0% | 6.4% | Entered the top 10 |
| 7 | FRONTLINE PLC (FRO) | 0.0% | 5.9% | Entered the top 10 |
| 8 | SCORPIO TANKERS INC (STNG) | 0.0% | 5.7% | Entered the top 10 |
| 9 | TEMPUR SEALY INTL INC (SGI) | 9.4% | 5.6% | |
| 10 | PG&E CORP (PCG) | 0.0% | 5.6% | Entered the top 10 |
| — | FIRST SOLAR INC (FSLR) | 8.2% | 3.1% | Left the top 10 |
| — | EQT CORP (EQT) | 8.1% | 0.0% | Left the top 10 |
| — | RH (RH) | 8.1% | 0.0% | Left the top 10 |
| — | CONSTELLATION ENERGY CORP (CEG) | 7.8% | 0.0% | Left the top 10 |
| — | ANTERO RESOURCES CORP (AR) | 7.8% | 0.0% | Left the top 10 |
| — | CSX CORP (CSX) | 7.4% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).