M D SASS INVESTORS SERVICES INC's Q4 2023 13F: 4 new positions, 5 exits
Form 13F-HR for the quarter ended Dec 31, 2023 · filed Feb 14, 2024 · 30 reported positions · accession 0001172661-24-001323
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | ISHARES TR (LQD) | 11.7% | — | −11.7 pts | −831K sh | −100% |
| Exited | FLEX LTD (FLEX) | 4.4% | — | −4.4 pts | −1.18M sh | −100% |
| New | JABIL INC (JBL) | — | 3.7% | +3.7 pts | +226K sh | new |
| New | LAMB WESTON HLDGS INC (LW) | — | 3.2% | +3.2 pts | +226K sh | new |
| Reduced | SPDR S&P 500 ETF TR (SPY) | 2.8% | 0.6% | −2.2 pts | −37,500 sh | −80% |
| Reduced | WALKER & DUNLOP INC (WD) | 3.3% | 2.7% | −0.6 pts | −131K sh | −41% |
| Increased | TKO GROUP HOLDINGS INC (TKO) | 4.8% | 6.2% | +1.4 pts | +175K sh | +42% |
| New | SBA COMMUNICATIONS CORP NEW (SBAC) | — | 1.8% | +1.8 pts | +54,054 sh | new |
| Increased | CACI INTL INC (CACI) | 4.4% | 5.9% | +1.5 pts | +39,196 sh | +39% |
| Increased | ISHARES TR (HYG) | 1.1% | 2.7% | +1.6 pts | +160K sh | +150% |
| Exited | SCHWAB CHARLES CORP (SCHW) | 1.5% | — | −1.5 pts | −203K sh | −100% |
| Increased | VANGUARD INDEX FDS (VOO) | 7.5% | 9.3% | +1.8 pts | +26,502 sh | +19% |
| Increased | DANAHER CORPORATION (DHR) | 3.1% | 4.0% | +0.9 pts | +44,475 sh | +50% |
| Increased | CBRE GROUP INC (CBRE) | 2.4% | 4.0% | +1.7 pts | +103K sh | +44% |
| Increased | CLEAN HARBORS INC (CLH) | 4.0% | 5.1% | +1.1 pts | +51,638 sh | +30% |
| Reduced | CENCORA INC (COR) | 4.1% | 3.4% | −0.6 pts | −33,290 sh | −20% |
| Reduced | API GROUP CORP (APG) | 5.7% | 6.2% | +0.5 pts | −193K sh | −12% |
| Reduced | CHEMED CORP NEW (CHE) | 4.8% | 4.3% | −0.5 pts | −10,252 sh | −15% |
| Increased | SPDR SER TR (BIL) | 0.1% | 0.7% | +0.6 pts | +49,207 sh | +524% |
| Reduced | RTX CORPORATION (RTX) | 2.3% | 2.0% | −0.3 pts | −46,797 sh | −20% |
| Increased | LIBERTY MEDIA CORP DEL (FWONK) | 6.0% | 6.2% | +0.2 pts | +62,254 sh | +9% |
| Increased | ON SEMICONDUCTOR CORP (ON) | 4.1% | 3.9% | −0.2 pts | +42,566 sh | +13% |
| Increased | WABTEC (WAB) | 4.3% | 5.2% | +1.0 pts | +27,764 sh | +10% |
| Reduced | BLUE OWL CAPITAL INC (OWL) | 4.9% | 5.1% | +0.2 pts | −101K sh | −4% |
| Reduced | PALO ALTO NETWORKS INC (PANW) | 1.8% | 2.0% | +0.2 pts | −3,120 sh | −6% |
| New | ZEBRA TECHNOLOGIES CORPORATI (ZBRA) | — | 0.1% | +0.1 pts | +3,200 sh | new |
| Reduced | CHARLES RIV LABS INTL INC (CRL) | 5.0% | 5.5% | +0.5 pts | −3,268 sh | −2% |
| Exited | ADVANCED DRAIN SYS INC DEL (WMS) | 0.1% | — | −0.1 pts | −5,586 sh | −100% |
| Increased | OPTION CARE HEALTH INC (OPCH) | 0.1% | 0.2% | +0.1 pts | +14,000 sh | +61% |
| Reduced | WARNER MUSIC GROUP CORP (WMG) | 4.3% | 4.5% | +0.2 pts | −9,527 sh | −1% |
| Exited | TRANSOCEAN LTD (RIG) | 0.0% | — | 0.0 pts | −30,000 sh | −100% |
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 — 59.2% of the equity book
Changes in the top 10 this quarter: WAB entered · CLH entered · WMG entered · LQD left · CHE left · FLEX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS (VOO) | 7.5% | 9.3% | |
| 2 | LIBERTY MEDIA CORP DEL (FWONK) | 6.0% | 6.2% | |
| 3 | TKO GROUP HOLDINGS INC (TKO) | 4.8% | 6.2% | |
| 4 | API GROUP CORP (APG) | 5.7% | 6.2% | |
| 5 | CACI INTL INC (CACI) | 4.4% | 5.9% | |
| 6 | CHARLES RIV LABS INTL INC (CRL) | 5.0% | 5.5% | |
| 7 | WABTEC (WAB) | 4.3% | 5.2% | Entered the top 10 |
| 8 | CLEAN HARBORS INC (CLH) | 4.0% | 5.1% | Entered the top 10 |
| 9 | BLUE OWL CAPITAL INC (OWL) | 4.9% | 5.1% | |
| 10 | WARNER MUSIC GROUP CORP (WMG) | 4.3% | 4.5% | Entered the top 10 |
| — | ISHARES TR (LQD) | 11.7% | 0.0% | Left the top 10 |
| — | CHEMED CORP NEW (CHE) | 4.8% | 4.3% | Left the top 10 |
| — | FLEX LTD (FLEX) | 4.4% | 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).
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 (HYG) | Put | 0 | 750K | $58M |
| Exited | SPDR S&P 500 ETF TR (SPY) | Put | 50,000 | 0 | $0 |