Triad Investment Management's Q4 2021 13F: 24 new positions, 14 exits
Form 13F-HR for the quarter ended Dec 31, 2021 · filed Apr 27, 2022 · 64 reported positions · accession 0001085146-22-001590
Compared with the fund's previous filing on record, for the quarter ended Dec 31, 2020.
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | BROOKFIELD PPTY REIT INC (BPR) | 5.1% | — | −5.1 pts | −310K sh | −100% |
| New | CMC MATERIALS INC (CCMP) | — | 4.3% | +4.3 pts | +24,647 sh | new |
| Increased | CANNAE HLDGS INC (CNNE) | 2.2% | 5.4% | +3.2 pts | +125K sh | +273% |
| New | FISERV INC (FISV) | — | 3.4% | +3.4 pts | +35,658 sh | new |
| Exited | WYNDHAM DESTINATIONS INC (WYND) | 3.3% | — | −3.3 pts | −66,566 sh | −100% |
| Exited | DISCOVERY INC (DISCA) | 3.2% | — | −3.2 pts | −95,210 sh | −100% |
| New | ROPER TECHNOLOGIES INC (ROP) | — | 2.9% | +2.9 pts | +6,460 sh | new |
| New | TRAVEL PLUS LEISURE CO (TNL) | — | 2.7% | +2.7 pts | +54,247 sh | new |
| Exited | WESTROCK CO (WRK) | 2.6% | — | −2.6 pts | −53,858 sh | −100% |
| Reduced | MOHAWK INDS INC (MHK) | 3.8% | 1.5% | −2.4 pts | −15,574 sh | −64% |
| New | MAXIMUS INC (MMS) | — | 2.5% | +2.5 pts | +34,244 sh | new |
| Exited | BORGWARNER INC (BWA) | 2.1% | — | −2.1 pts | −49,392 sh | −100% |
| New | ANNALY CAPITAL MANAGEMENT IN (NLY) | — | 1.9% | +1.9 pts | +591K sh | new |
| Reduced | KORN FERRY (KFY) | 3.6% | 3.2% | −0.3 pts | −27,046 sh | −37% |
| Exited | GOLUB CAP BDC INC (GBDC) | 1.8% | — | −1.8 pts | −115K sh | −100% |
| Increased | DISCOVERY INC (DISCK) | 1.7% | 2.9% | +1.1 pts | +78,778 sh | +132% |
| Reduced | ATLAS CORP (ATCO) | 3.9% | 2.6% | −1.3 pts | −121K sh | −37% |
| Exited | EATON VANCE FLTING RATE INC (EFT) | 1.4% | — | −1.4 pts | −93,319 sh | −100% |
| Increased | LIBERTY MEDIA CORP DEL (BATRB) | 1.0% | 2.3% | +1.3 pts | +980K sh | +140% |
| Increased | SS&C TECHNOLOGIES HLDGS INC (SSNC) | 2.8% | 3.9% | +1.1 pts | +17,302 sh | +49% |
| Reduced | BROOKFIELD REAL ASSETS INCOM (RA) | 4.3% | 1.9% | −2.4 pts | −81,990 sh | −38% |
| Reduced | HERCULES CAPITAL INC (HTGC) | 2.8% | 1.5% | −1.3 pts | −75,077 sh | −43% |
| Reduced | OAKTREE SPECIALTY LENDING CO (OCSL) | 4.3% | 2.7% | −1.7 pts | −167K sh | −24% |
| New | GUGGENHEIM TAXABLE MUNICP BO (GBAB) | — | 0.8% | +0.8 pts | +36,336 sh | new |
| Increased | THOR INDS INC (THO) | 1.8% | 2.4% | +0.6 pts | +8,194 sh | +48% |
| New | BROWN & BROWN INC (BRO) | — | 0.8% | +0.8 pts | +11,975 sh | new |
| New | WHITE MTNS INS GROUP LTD (WTM) | — | 0.7% | +0.7 pts | +803 sh | new |
| Increased | ALLISON TRANSMISSION HLDGS I (ALSN) | 3.3% | 3.0% | −0.4 pts | +19,922 sh | +29% |
| Reduced | MRC GLOBAL INC (MRC) | 1.5% | 0.7% | −0.8 pts | −87,006 sh | −42% |
| New | BLACKROCK TAX MUNICPAL BD TR (BBN) | — | 0.5% | +0.5 pts | +22,774 sh | new |
| Increased | LIBERTY TRIPADVISOR HLDGS IN (LTRPA) | 3.9% | 2.1% | −1.8 pts | +263K sh | +32% |
| Increased | CDW CORP (CDW) | 1.8% | 2.7% | +1.0 pts | +2,670 sh | +22% |
| New | VISA INC (V) | — | 0.4% | +0.4 pts | +2,234 sh | new |
| Exited | DOUBLELINE INCOME SOLUTIONS (DSL) | 0.4% | — | −0.4 pts | −22,525 sh | −100% |
| New | WESTERN ASSET HIGH YIELD DEF (HYI) | — | 0.4% | +0.4 pts | +28,700 sh | new |
| Increased | SCHLUMBERGER LTD (SLB) | 2.6% | 3.3% | +0.7 pts | +14,319 sh | +13% |
| New | NUVEEN TAXABLE MUNICPAL INM (NBB) | — | 0.3% | +0.3 pts | +16,659 sh | new |
| Exited | BAIN CAP SPECIALTY FIN INC (BCSF) | 0.3% | — | −0.3 pts | −24,850 sh | −100% |
| New | WESTERN ASSET HIGH INCOME OP (HIO) | — | 0.3% | +0.3 pts | +69,983 sh | new |
| New | EATON VANCE MUNI INCOME TRUS (EVN) | — | 0.3% | +0.3 pts | +25,473 sh | new |
| Increased | GARTNER INC (IT) | 2.3% | 4.3% | +2.0 pts | +1,017 sh | +8% |
| Increased | BLACKROCK LTD DURATION INCOM (BLW) | 0.3% | 0.6% | +0.3 pts | +20,131 sh | +113% |
| New | BLACKROCK CORPOR HI YLD FD I (HYT) | — | 0.3% | +0.3 pts | +25,910 sh | new |
| Increased | BERKSHIRE HATHAWAY INC DEL (BRK-B) | 0.3% | 0.6% | +0.3 pts | +1,047 sh | +80% |
| Reduced | CENTENNIAL RESOURCE DEV INC (CDEV) | 0.1% | 0.2% | 0.0 pts | −49,259 sh | −63% |
| New | NOV INC (NOV) | — | 0.3% | +0.3 pts | +21,458 sh | new |
| New | WESTERN AST INFL LKD OPP & I (WIW) | — | 0.3% | +0.3 pts | +20,943 sh | new |
| New | S&P GLOBAL INC (SPGI) | — | 0.2% | +0.2 pts | +483 sh | new |
| New | TJX COS INC NEW (TJX) | — | 0.2% | +0.2 pts | +2,902 sh | new |
| New | WATSCO INC (WSO) | — | 0.2% | +0.2 pts | +659 sh | new |
The 50 largest of 73 changes, by size of the trade. Full holdings for this quarter.
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 — 39.7% of the equity book
Changes in the top 10 this quarter: CNNE entered · CCMP entered · IT entered · SSNC entered · FISV entered · SLB entered · BPR left · OCSL left · RA left · LTRPA left · ATCO left · MHK left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | CANNAE HLDGS INC (CNNE) | 2.2% | 5.4% | Entered the top 10 |
| 2 | MARRIOTT VACATIONS WORLDWIDE (VAC) | 4.6% | 4.4% | |
| 3 | CMC MATERIALS INC (CCMP) | 0.0% | 4.3% | Entered the top 10 |
| 4 | GARTNER INC (IT) | 2.3% | 4.3% | Entered the top 10 |
| 5 | FRANKLIN RESOURCES INC (BEN) | 3.7% | 4.1% | |
| 6 | SS&C TECHNOLOGIES HLDGS INC (SSNC) | 2.8% | 3.9% | Entered the top 10 |
| 7 | KAR AUCTION SVCS INC (OPLN) | 5.2% | 3.4% | |
| 8 | FISERV INC (FISV) | 0.0% | 3.4% | Entered the top 10 |
| 9 | SCHLUMBERGER LTD (SLB) | 2.6% | 3.3% | Entered the top 10 |
| 10 | KORN FERRY (KFY) | 3.6% | 3.2% | |
| — | BROOKFIELD PPTY REIT INC (BPR) | 5.1% | 0.0% | Left the top 10 |
| — | OAKTREE SPECIALTY LENDING CO (OCSL) | 4.3% | 2.7% | Left the top 10 |
| — | BROOKFIELD REAL ASSETS INCOM (RA) | 4.3% | 1.9% | Left the top 10 |
| — | LIBERTY TRIPADVISOR HLDGS IN (LTRPA) | 3.9% | 2.1% | Left the top 10 |
| — | ATLAS CORP (ATCO) | 3.9% | 2.6% | Left the top 10 |
| — | MOHAWK INDS INC (MHK) | 3.8% | 1.5% | 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).