Insightful Fourth Quarter Moves by Azvalor Managers FI (Trades, Portfolio) Highlight Investment Strategy
Azvalor Managers FI (Trades, Portfolio), a tax-transferable UCITS fund known for its global investment approach, has disclosed its fourth quarter transactions for 2023. The fund, which invests primarily in equities across various regions and sectors, aims to identify the most promising investment opportunities by delegating to specialist managers. This quarter's report reveals strategic additions, significant increases, and tactical exits within its diverse portfolio.
Summary of New Buys
Azvalor Managers FI (Trades, Portfolio) expanded its portfolio with 48 new stocks. Noteworthy additions include:
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International Petroleum Corp (TSX:IPCO), purchasing 65,964 shares, which now comprise 1.06% of the portfolio, valued at C$716 million.
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Golar LNG Ltd (NASDAQ:GLNG), acquiring 28,229 shares, making up approximately 0.87% of the portfolio, with a total value of $587,000.
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John Wood Group Plc (LSE:WG.), adding 277,468 shares, accounting for 0.82% of the portfolio, valued at 559,000.
Key Position Increases
Azvalor Managers FI (Trades, Portfolio) also raised its stakes in 82 stocks. Significant increases include:
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Cash (^CASH), with an additional 6,154,000 shares, bringing the total to 25,000,000 shares. This represents a 32.65% increase in share count and a 9.07% impact on the current portfolio, valued at $25,000,000.
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Hudbay Minerals Inc (TSX:HBM), with an additional 109,159 shares, bringing the total to 129,880. This adjustment marks a 526.8% increase in share count, valued at C$877,000.
Summary of Sold Out Positions
Azvalor Managers FI (Trades, Portfolio) exited 13 holdings in the fourth quarter of 2023, including:
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M/I Homes Inc (NYSE:MHO): The fund sold all 13,788 shares, resulting in a -2.15% impact on the portfolio.
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Despegar.com Corp (NYSE:DESP): The complete liquidation of 122,786 shares caused a -1.56% impact on the portfolio.
Key Position Reductions
Reductions were made in 22 stocks by Azvalor Managers FI (Trades, Portfolio). The most significant reductions were:
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Celestica Inc (NYSE:CLS) by 19,690 shares, resulting in a -64.26% decrease in shares and a -0.51% impact on the portfolio. The stock traded at an average price of $26.6 during the quarter and has returned 45.27% over the past 3 months and 23.19% year-to-date.
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Arcos Dorados Holdings Inc (NYSE:ARCO) by 17,822 shares, leading to a -21.08% reduction in shares and a -0.33% impact on the portfolio. The stock had an average trading price of $10.71 during the quarter and has returned 31.56% over the past 3 months and 1.26% year-to-date.