M D SASS INVESTORS SERVICES INC's Q1 2023 13F: 10 new positions, 6 exits
Form 13F-HR for the quarter ended Mar 31, 2023 · filed May 15, 2023 · 31 reported positions · accession 0001172661-23-002258
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | FIRST REP BK SAN FRANCISCO C (FRCB) | 5.6% | — | −5.6 pts | −256K sh | −100% |
| New | ISHARES TR (LQD) | — | 4.6% | +4.6 pts | +266K sh | new |
| New | AVANTOR INC (AVTR) | — | 4.1% | +4.1 pts | +1.24M sh | new |
| Exited | EAST WEST BANCORP INC (EWBC) | 3.5% | — | −3.5 pts | −300K sh | −100% |
| New | COPART INC (CPRT) | — | 3.3% | +3.3 pts | +284K sh | new |
| New | SCHWAB CHARLES CORP (SCHW) | — | 3.2% | +3.2 pts | +390K sh | new |
| Increased | AMERISOURCEBERGEN CORP (COR) | 4.1% | 6.6% | +2.5 pts | +125K sh | +91% |
| New | PAYPAL HLDGS INC (PYPL) | — | 2.8% | +2.8 pts | +231K sh | new |
| Reduced | ALPHABET INC (GOOGL) | 5.4% | 3.0% | −2.5 pts | −160K sh | −47% |
| Exited | MATCH GROUP INC NEW (MTCH) | 2.6% | — | −2.6 pts | −349K sh | −100% |
| New | ADVANCED DRAIN SYS INC DEL (WMS) | — | 2.5% | +2.5 pts | +192K sh | new |
| Increased | SPDR S&P 500 ETF TR (SPY) | 0.5% | 3.0% | +2.4 pts | +38,440 sh | +482% |
| Exited | ROCKWELL AUTOMATION INC (ROK) | 1.9% | — | −1.9 pts | −41,857 sh | −100% |
| Reduced | ON SEMICONDUCTOR CORP (ON) | 4.8% | 3.7% | −1.1 pts | −139K sh | −33% |
| Reduced | MASTEC INC (MTZ) | 6.0% | 4.1% | −1.9 pts | −114K sh | −29% |
| Reduced | API GROUP CORP (APG) | 7.5% | 6.4% | −1.1 pts | −394K sh | −18% |
| Increased | CORTEVA INC (CTVA) | 3.5% | 3.8% | +0.4 pts | +76,356 sh | +23% |
| Increased | CHARLES RIV LABS INTL INC (CRL) | 5.1% | 4.7% | −0.3 pts | +20,118 sh | +15% |
| New | AMAZON COM INC (AMZN) | — | 0.6% | +0.6 pts | +35,465 sh | new |
| New | INVESTMENT MANAGERS SER TR I (SARK) | — | 0.5% | +0.5 pts | +83,356 sh | new |
| Increased | CROWN HLDGS INC (CCK) | 6.0% | 5.7% | −0.3 pts | +32,984 sh | +8% |
| Reduced | PROSHARES TR (SQQQ) | 1.0% | 0.1% | −1.0 pts | −92,463 sh | −89% |
| Reduced | MICROSOFT CORP (MSFT) | 0.9% | 0.5% | −0.4 pts | −8,940 sh | −44% |
| Reduced | CHEMED CORP NEW (CHE) | 5.6% | 4.8% | −0.8 pts | −4,644 sh | −8% |
| Reduced | LIBERTY MEDIA CORP DEL (FWONK) | 5.8% | 6.0% | +0.2 pts | −32,150 sh | −6% |
| Reduced | RAYTHEON TECHNOLOGIES CORP (RTX) | 5.2% | 4.1% | −1.1 pts | −19,872 sh | −7% |
| Reduced | DIREXION SHS ETF TR (SPXS) | 0.4% | 0.1% | −0.4 pts | −85,950 sh | −81% |
| New | SPDR SER TR (BIL) | — | 0.2% | +0.2 pts | +16,228 sh | new |
| Exited | SURO CAPITAL CORP (SSSS) | 0.2% | — | −0.2 pts | −293K sh | −100% |
| Reduced | BLUE OWL CAPITAL INC (OWL) | 5.5% | 4.8% | −0.7 pts | −111K sh | −4% |
| New | DIREXION SHS ETF TR (TZA) | — | 0.2% | +0.2 pts | +35,000 sh | new |
| Exited | PROSHARES TR (SJB) | 0.1% | — | −0.1 pts | −43,713 sh | −100% |
| Increased | VANGUARD INDEX FDS (VOO) | 7.1% | 6.7% | −0.4 pts | +454 sh | 0% |
| Increased | WALKER & DUNLOP INC (WD) | 5.1% | 4.4% | −0.8 pts | +1,732 sh | 0% |
| Increased | CACI INTL INC (CACI) | 6.2% | 5.3% | −0.8 pts | +268 sh | 0% |
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 — 55.6% of the equity book
Changes in the top 10 this quarter: COR entered · CRL entered · LQD entered · MTZ left · FRCB left · GOOGL left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS (VOO) | 7.1% | 6.7% | |
| 2 | AMERISOURCEBERGEN CORP (COR) | 4.1% | 6.6% | Entered the top 10 |
| 3 | API GROUP CORP (APG) | 7.5% | 6.4% | |
| 4 | LIBERTY MEDIA CORP DEL (FWONK) | 5.8% | 6.0% | |
| 5 | CROWN HLDGS INC (CCK) | 6.0% | 5.7% | |
| 6 | CACI INTL INC (CACI) | 6.2% | 5.3% | |
| 7 | BLUE OWL CAPITAL INC (OWL) | 5.5% | 4.8% | |
| 8 | CHEMED CORP NEW (CHE) | 5.6% | 4.8% | |
| 9 | CHARLES RIV LABS INTL INC (CRL) | 5.1% | 4.7% | Entered the top 10 |
| 10 | ISHARES TR (LQD) | 0.0% | 4.6% | Entered the top 10 |
| — | MASTEC INC (MTZ) | 6.0% | 4.1% | Left the top 10 |
| — | FIRST REP BK SAN FRANCISCO C (FRCB) | 5.6% | 0.0% | Left the top 10 |
| — | ALPHABET INC (GOOGL) | 5.4% | 3.0% | 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).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | ISHARES TR (LQD) | Put | 0 | 200K | $21.9M |
| Increased | SPDR S&P 500 ETF TR (SPY) | Put | 320K | 345K | $141M |