Triad Investment Management's Q1 2023 13F: 5 new positions, 2 exits
Form 13F-HR for the quarter ended Mar 31, 2023 · filed Jul 11, 2023 · 59 reported positions · accession 0001085146-23-002619
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | KAR AUCTION SVCS INC (OPLN) | 1.2% | — | −1.2 pts | −59,136 sh | −100% |
| Increased | FIDELITY NATL INFORMATION SV (FIS) | 1.2% | 2.1% | +0.9 pts | +15,214 sh | +137% |
| Increased | WARNER BROS DISCOVERY INC (WBD) | 2.1% | 3.8% | +1.6 pts | +27,122 sh | +19% |
| New | INTUIT (INTU) | — | 0.4% | +0.4 pts | +656 sh | new |
| Increased | KORN FERRY (KFY) | 3.2% | 3.4% | +0.2 pts | +4,601 sh | +11% |
| New | WATSCO INC (WSO) | — | 0.3% | +0.3 pts | +714 sh | new |
| Increased | SIMPLIFY EXCHANGE TRADED FUN (PFIX) | 1.2% | 1.3% | +0.1 pts | +3,503 sh | +32% |
| Increased | LIBERTY TRIPADVISOR HLDGS IN (LTRPA) | 1.3% | 1.9% | +0.6 pts | +245K sh | +19% |
| New | ALPHABET INC (GOOG) | — | 0.3% | +0.3 pts | +2,020 sh | new |
| New | CLARUS CORP NEW (CLAR) | — | 0.2% | +0.2 pts | +17,891 sh | new |
| Increased | CANNAE HLDGS INC (CNNE) | 5.1% | 4.8% | −0.2 pts | +8,336 sh | +5% |
| Exited | BLACKROCK LTD DURATION INCOM (BLW) | 0.2% | — | −0.2 pts | −11,527 sh | −100% |
| Increased | CARMAX INC (KMX) | 3.5% | 3.7% | +0.2 pts | +2,515 sh | +7% |
| New | MEDIAALPHA INC (MAX) | — | 0.2% | +0.2 pts | +10,100 sh | new |
| Increased | SS&C TECHNOLOGIES HLDGS INC (SSNC) | 3.9% | 4.1% | +0.2 pts | +2,618 sh | +5% |
| Increased | THOR INDS INC (THO) | 3.4% | 3.5% | +0.1 pts | +1,836 sh | +6% |
| Reduced | MACERICH CO (MAC) | 1.1% | 0.8% | −0.3 pts | −13,231 sh | −21% |
| Increased | DUN & BRADSTREET HLDGS INC (DNB) | 0.2% | 0.4% | +0.2 pts | +11,645 sh | +116% |
| Reduced | TRANSOCEAN LTD (RIG) | 0.5% | 0.4% | −0.1 pts | −21,052 sh | −32% |
| Increased | TRAVEL PLUS LEISURE CO (TNL) | 2.3% | 2.5% | +0.2 pts | +3,341 sh | +8% |
| Reduced | CDW CORP (CDW) | 3.5% | 3.4% | −0.1 pts | −650 sh | −5% |
| Reduced | NOV INC (NOV) | 0.6% | 0.3% | −0.3 pts | −6,617 sh | −39% |
| Increased | HERCULES CAPITAL INC (HTGC) | 1.9% | 1.9% | 0.0 pts | +8,824 sh | +10% |
| Increased | LINDBLAD EXPEDITIONS HLDGS I (LIND) | 0.7% | 1.0% | +0.3 pts | +11,026 sh | +18% |
| Increased | SLR INVESTMENT CORP (SLRC) | 1.6% | 1.8% | +0.1 pts | +6,451 sh | +9% |
| Increased | BROOKFIELD REAL ASSETS INCOM (RA) | 1.3% | 1.4% | +0.1 pts | +5,471 sh | +10% |
| Increased | MARRIOTT VACATIONS WORLDWIDE (VAC) | 4.0% | 3.8% | −0.1 pts | +659 sh | +3% |
| Increased | ALTUS POWER INC (AMPS) | 0.2% | 0.3% | +0.1 pts | +15,864 sh | +76% |
| Increased | GARTNER INC (IT) | 5.9% | 5.4% | −0.5 pts | +243 sh | +2% |
| Reduced | CBRE GROUP INC (CBRE) | 2.6% | 2.2% | −0.4 pts | −1,000 sh | −5% |
| Increased | FISERV INC (FISV) | 4.4% | 4.7% | +0.3 pts | +620 sh | +2% |
| Increased | BROWN & BROWN INC (BRO) | 2.8% | 2.7% | −0.1 pts | +1,085 sh | +3% |
| Increased | VISA INC (V) | 3.0% | 3.1% | +0.1 pts | +263 sh | +3% |
| Increased | ENTEGRIS INC (ENTG) | 1.3% | 1.6% | +0.3 pts | +569 sh | +4% |
| Increased | SPECIAL OPPORTUNITIES FD INC (SPE) | 0.4% | 0.4% | 0.0 pts | +4,116 sh | +20% |
| Increased | BERKSHIRE HATHAWAY INC DEL (BRK-B) | 1.3% | 1.2% | −0.1 pts | +68 sh | +3% |
| Reduced | SCHLUMBERGER LTD (SLB) | 7.5% | 6.3% | −1.1 pts | −419 sh | 0% |
| Increased | MOHAWK INDS INC (MHK) | 1.7% | 1.6% | −0.1 pts | +148 sh | +1% |
| Increased | MAXIMUS INC (MMS) | 1.9% | 1.9% | 0.0 pts | +141 sh | +1% |
| Increased | WESTERN AST INFL LKD OPP & I (WIW) | 0.3% | 0.3% | 0.0 pts | +1,121 sh | +5% |
| Increased | ANNALY CAPITAL MANAGEMENT IN (NLY) | 1.5% | 1.2% | −0.2 pts | +448 sh | +1% |
| Increased | ROPER TECHNOLOGIES INC (ROP) | 3.1% | 3.0% | −0.2 pts | +19 sh | 0% |
| Increased | S&P GLOBAL INC (SPGI) | 0.4% | 0.4% | 0.0 pts | +23 sh | +3% |
| Reduced | BLACKROCK TAX MUNICPAL BD TR (BBN) | 0.3% | 0.3% | 0.0 pts | −313 sh | −3% |
| Reduced | WESTERN ASSET HIGH INCOME OP (HIO) | 0.3% | 0.3% | 0.0 pts | −1,174 sh | −2% |
| Reduced | WESTERN ASSET HIGH YIELD DEF (HYI) | 0.3% | 0.3% | 0.0 pts | −251 sh | −2% |
| Reduced | WHITE MTNS INS GROUP LTD (WTM) | 3.8% | 3.5% | −0.4 pts | −1 sh | 0% |
| Increased | AUDACY INC (AUDA) | 0.0% | 0.0% | 0.0 pts | +5,000 sh | +4% |
| Increased | GUGGENHEIM TAXABLE MUNICP BO (GBAB) | 0.3% | 0.3% | 0.0 pts | +8 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
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- OAKTREE SPECIALTY LENDING CO (OCSL): 67401P108 → 67401P405, 321K → 115K shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 43.7% of the equity book
Changes in the top 10 this quarter: WBD entered · THO entered · CDW left · OCSL left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | SCHLUMBERGER LTD (SLB) | 7.5% | 6.3% | |
| 2 | GARTNER INC (IT) | 5.9% | 5.4% | |
| 3 | CANNAE HLDGS INC (CNNE) | 5.1% | 4.8% | |
| 4 | FISERV INC (FISV) | 4.4% | 4.7% | |
| 5 | SS&C TECHNOLOGIES HLDGS INC (SSNC) | 3.9% | 4.1% | |
| 6 | MARRIOTT VACATIONS WORLDWIDE (VAC) | 4.0% | 3.8% | |
| 7 | WARNER BROS DISCOVERY INC (WBD) | 2.1% | 3.8% | Entered the top 10 |
| 8 | CARMAX INC (KMX) | 3.5% | 3.7% | |
| 9 | THOR INDS INC (THO) | 3.4% | 3.5% | Entered the top 10 |
| 10 | WHITE MTNS INS GROUP LTD (WTM) | 3.8% | 3.5% | |
| — | CDW CORP (CDW) | 3.5% | 3.4% | Left the top 10 |
| — | OAKTREE SPECIALTY LENDING CO (OCSL) | 3.5% | 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).