Alan Fournier's Q2 2023 Investment Update
Renowned investor Alan Fournier recently disclosed his firm's portfolio for the second quarter of 2023, which ended on June 30, 2023. Fournier, known for his value-oriented investment approach, manages a portfolio containing 18 stocks with a total value of $300 million.
Top Holdings
The firm's top holdings for the quarter were GOOGL (16.37%), AMZN (16.35%), and MSFT (15.22%), reflecting a strong focus on technology giants.
Significant Trades
Among the notable trades of the quarter, Fournier's firm made significant purchases in DISH Network Corp (NAS:DISH), Perimeter Solutions SA (NYSE:PRM), and Antero Resources Corp (NYSE:AR).
DISH Network Corp (NAS:DISH)
The firm bought 1,674,269 shares of DISH Network Corp, bringing the total holding to 3,640,310 shares. This trade had a 3.68% impact on the equity portfolio. The stock traded for an average price of $7.12 during the quarter. As of August 14, 2023, DISH had a market cap of $4.18 billion and a stock price of $7.835. Despite a -60.79% return over the past year, Fournier's firm sees potential in DISH, which has a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10 according to GuruFocus.
Perimeter Solutions SA (NYSE:PRM)
During the quarter, the firm also purchased 650,837 shares of Perimeter Solutions SA, increasing the total holding to 1,516,767 shares. This trade had a 1.33% impact on the equity portfolio. The stock traded for an average price of $6.72 during the quarter. As of August 14, 2023, PRM had a market cap of $900.85 million and a stock price of $5.83. Despite a -48.95% return over the past year, the firm sees value in PRM, which has a financial strength rating of 4 out of 10 and a profitability rating of 5 out of 10 according to GuruFocus.
Antero Resources Corp (NYSE:AR)
Lastly, the firm bought 50,000 shares of Antero Resources Corp, bringing the total holding to 1,050,000 shares. This trade had a 0.38% impact on the equity portfolio. The stock traded for an average price of $22.22 during the quarter. As of August 14, 2023, AR had a market cap of $8.34 billion and a stock price of $27.76. Despite a -31.09% return over the past year, the firm sees potential in AR, which has a financial strength rating of 5 out of 10 and a profitability rating of 6 out of 10 according to GuruFocus.
In conclusion, Alan Fournier (Trades, Portfolio)'s firm continues to demonstrate a strategic approach to value investing, focusing on companies with strong fundamentals and potential for growth. The firm's Q2 2023 portfolio reflects a balanced mix of technology giants and potential value picks in various sectors.
This article first appeared on GuruFocus.
