Forest Avenue Capital Management LP's Q2 2023 13F: 15 new positions, 7 exits
Form 13F-HR for the quarter ended Jun 30, 2023 · filed Aug 11, 2023 · 29 reported positions · accession 0001944889-23-000007
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | SCORPIO TANKERS INC (STNG) | 5.7% | — | −5.7 pts | −141K sh | −100% |
| New | UBER TECHNOLOGIES INC (UBER) | — | 4.8% | +4.8 pts | +243K sh | new |
| Exited | PBF ENERGY INC (PBF) | 4.7% | — | −4.7 pts | −151K sh | −100% |
| New | RH (RH) | — | 4.7% | +4.7 pts | +31,200 sh | new |
| Reduced | META PLATFORMS INC (META) | 8.2% | 2.4% | −5.8 pts | −35,529 sh | −66% |
| New | FEDEX CORP (FDX) | — | 4.5% | +4.5 pts | +40,000 sh | new |
| New | VALVOLINE INC (VVV) | — | 3.9% | +3.9 pts | +229K sh | new |
| Exited | LULULEMON ATHLETICA INC (LULU) | 3.3% | — | −3.3 pts | −12,600 sh | −100% |
| New | ANTERO RESOURCES CORP (AR) | — | 2.9% | +2.9 pts | +275K sh | new |
| New | CARNIVAL CORP (CCL) | — | 2.7% | +2.7 pts | +317K sh | new |
| New | AMAZON COM INC (AMZN) | — | 2.7% | +2.7 pts | +45,600 sh | new |
| Exited | FOOT LOCKER INC (FL) | 2.7% | — | −2.7 pts | −94,700 sh | −100% |
| New | BOOKING HOLDINGS INC (BKNG) | — | 2.7% | +2.7 pts | +2,175 sh | new |
| New | JOHNSON CTLS INTL PLC (JCI) | — | 2.6% | +2.6 pts | +82,600 sh | new |
| Increased | FIRST SOLAR INC (FSLR) | 3.1% | 4.3% | +1.2 pts | +29,400 sh | +151% |
| Exited | CALLON PETE CO DEL (CPE) | 2.4% | — | −2.4 pts | −101K sh | −100% |
| Increased | ARCH RESOURCES INC (ARCH) | 4.1% | 4.6% | +0.5 pts | +46,130 sh | +106% |
| New | SNAP INC (SNAP) | — | 2.1% | +2.1 pts | +386K sh | new |
| New | GOODYEAR TIRE & RUBR CO (GT) | — | 1.9% | +1.9 pts | +308K sh | new |
| Increased | HYATT HOTELS CORP (H) | 3.3% | 3.9% | +0.6 pts | +33,900 sh | +83% |
| New | ALIBABA GROUP HLDG LTD (BABA) | — | 1.7% | +1.7 pts | +43,800 sh | new |
| Exited | ARCONIC CORPORATION (ARNC) | 1.6% | — | −1.6 pts | −83,075 sh | −100% |
| Reduced | CHENIERE ENERGY INC (LNG) | 7.7% | 3.2% | −4.4 pts | −21,300 sh | −32% |
| Increased | REGAL REXNORD CORPORATION (RRX) | 5.0% | 5.0% | −0.1 pts | +21,000 sh | +42% |
| Increased | BATH & BODY WORKS INC (BBWI) | 7.4% | 6.3% | −1.1 pts | +84,300 sh | +30% |
| New | TRANSDIGM GROUP INC (TDG) | — | 1.4% | +1.4 pts | +3,400 sh | new |
| Increased | TEMPUR SEALY INTL INC (SGI) | 5.6% | 5.0% | −0.7 pts | +72,100 sh | +36% |
| Increased | CHART INDS INC (GTLS) | 6.4% | 5.8% | −0.7 pts | +7,800 sh | +11% |
| Increased | PG&E CORP (PCG) | 5.6% | 4.4% | −1.2 pts | +70,000 sh | +15% |
| New | AERCAP HOLDINGS NV (AER) | — | 0.5% | +0.5 pts | +17,894 sh | new |
| Increased | EURONAV NV (CMBT) | 1.3% | 1.2% | −0.1 pts | +64,000 sh | +61% |
| Increased | DENBURY INC (DEN) | 9.4% | 6.2% | −3.2 pts | +9,300 sh | +6% |
| New | NET POWER INC (NPWRWS) | — | 0.2% | +0.2 pts | +125K sh | new |
| Exited | RICE ACQUISITION CORP II (RONIWS) | 0.1% | — | −0.1 pts | −125K sh | −100% |
| Increased | MASTEC INC (MTZ) | 6.4% | 5.1% | −1.2 pts | +1,400 sh | +2% |
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 — 52.0% of the equity book
Changes in the top 10 this quarter: RRX entered · UBER entered · RH entered · ARCH entered · FDX entered · META left · LNG left · FRO left · STNG left · PCG left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | BATH & BODY WORKS INC (BBWI) | 7.4% | 6.3% | |
| 2 | DENBURY INC (DEN) | 9.4% | 6.2% | |
| 3 | CHART INDS INC (GTLS) | 6.4% | 5.8% | |
| 4 | MASTEC INC (MTZ) | 6.4% | 5.1% | |
| 5 | REGAL REXNORD CORPORATION (RRX) | 5.0% | 5.0% | Entered the top 10 |
| 6 | TEMPUR SEALY INTL INC (SGI) | 5.6% | 5.0% | |
| 7 | UBER TECHNOLOGIES INC (UBER) | 0.0% | 4.8% | Entered the top 10 |
| 8 | RH (RH) | 0.0% | 4.7% | Entered the top 10 |
| 9 | ARCH RESOURCES INC (ARCH) | 4.1% | 4.6% | Entered the top 10 |
| 10 | FEDEX CORP (FDX) | 0.0% | 4.5% | Entered the top 10 |
| — | META PLATFORMS INC (META) | 8.2% | 2.4% | Left the top 10 |
| — | CHENIERE ENERGY INC (LNG) | 7.7% | 3.2% | Left the top 10 |
| — | FRONTLINE PLC (FRO) | 5.9% | 3.3% | Left the top 10 |
| — | SCORPIO TANKERS INC (STNG) | 5.7% | 0.0% | Left the top 10 |
| — | PG&E CORP (PCG) | 5.6% | 4.4% | 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).