Alan Fournier's Bet on EchoStar Corp Amidst Major Portfolio Changes
Insight into Fournier's Q4 Moves: DISH Network Exit and EchoStar Corp Addition
Alan Fournier (Trades, Portfolio), the seasoned investor behind the transformation of his firm into a family office, has revealed his latest investment maneuvers with the 13F filing for the fourth quarter of 2023. Fournier, who has built a reputation for his unique investment strategy combining growth and value investing, without formal finance or accounting education, has made significant changes to his portfolio. His approach, which includes a mix of hedging, leverage, and short-selling, reflects his diverse experience from his tenure at firms like Appaloosa Management L.P. and Sanford C. Bernstein.
Summary of New Buys
Alan Fournier (Trades, Portfolio)'s portfolio welcomed a total of 31 new stocks in the last quarter. Noteworthy additions include:
EchoStar Corp (NASDAQ:SATS), with 2,153,209 shares, making up 7.79% of the portfolio and valued at $35.68 million.
Altimmune Inc (NASDAQ:ALT), comprising 109,800 shares, which is about 0.27% of the portfolio, with a total value of $1.24 million.
FibroGen Inc (NASDAQ:FGEN), with 768,400 shares, accounting for 0.15% of the portfolio and a total value of $681,030.
Key Position Increases
Alan Fournier (Trades, Portfolio) has also raised his stakes in existing investments, with a significant increase in:
Perimeter Solutions SA (NYSE:PRM), adding 700,000 shares to bring the total to 2,300,000 shares. This represents a 43.75% increase in share count, impacting the current portfolio by 0.7%, and a total value of $10.58 million.
Summary of Sold Out Positions
In a strategic move, Alan Fournier (Trades, Portfolio) has completely divested from certain holdings in the fourth quarter of 2023:
DISH Network Corp (DISH): Fournier sold all 4,150,000 shares, which had an -8.78% impact on the portfolio.
Portfolio Overview
As of the fourth quarter of 2023, Alan Fournier (Trades, Portfolio)'s portfolio is composed of 44 stocks. The top holdings are 11.54% in Amazon.com Inc (NASDAQ:AMZN), 11.44% in Alphabet Inc (NASDAQ:GOOGL), 10.59% in Microsoft Corp (NASDAQ:MSFT), 9.28% in TransDigm Group Inc (NYSE:TDG), and 7.79% in EchoStar Corp (NASDAQ:SATS). The investments are primarily concentrated across seven industries: Technology, Consumer Cyclical, Communication Services, Industrials, Energy, Healthcare, and Basic Materials.
Alan Fournier (Trades, Portfolio)'s latest 13F filing indicates a strategic shift in his investment portfolio, with a notable exit from DISH Network Corp and a significant new position in EchoStar Corp. These moves reflect Fournier's dynamic investment philosophy and his ability to adapt to the evolving market landscape. Investors and followers of Fournier's investment strategies will be watching closely to see how these changes play out in the performance of his portfolio.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
