Exploring the Fourth Quarter 2024 13F Filing

Alan Fournier (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. Alan Fournier (Trades, Portfolio) used to manage the Pennant Master Fund, Pennant Windward Master Fund, Broadway Gate Master Fund, Ltd., and Pennant General Partner, LLC. Previously, Mr. Fournier was the partner responsible for global equity investments at Appaloosa Management L.P. He began his investment career at Sanford C. Bernstein in 1988. Before entering the investment management industry, Mr. Fournier spent five years in technology system sales for Digital Equipment Corporation, where he was a national account manager. In 2018, Mr. Fournier decided to return clients capital after a period of lackluster returns and converted his firm to a family office. Mr. Fournier famously has never taken a finance or accounting course. His investment strategy is a combination of what he learned while working at Bernstein, Pneza Investment, and Appaloosa Management. His firms strategy focused on a buy and hold, long/short approach that included hedging, leverage, option trading, and short-selling. In terms of long positions, Mr. Fournier places emphasis on growth and value qualities.

• Warning! GuruFocus has detected 9 Warning Signs with SATS.

Summary of New Buy

Alan Fournier (Trades, Portfolio) added a total of 1 stock, among them:

• The most significant addition was Expand Energy Corp (NASDAQ:EXE), with 180,000 shares, accounting for 5.06% of the portfolio and a total value of $17.919 million.

Key Position Increases

Alan Fournier (Trades, Portfolio) also increased stakes in a total of 3 stocks, among them:

• The most notable increase was Valmont Industries Inc (NYSE:VMI), with an additional 29,000 shares, bringing the total to 69,000 shares. This adjustment represents a significant 72.5% increase in share count, a 2.51% impact on the current portfolio, and a total value of $21,160,230.
• The second largest increase was Amazon.com Inc (NASDAQ:AMZN), with an additional 20,500 shares, bringing the total to 202,500. This adjustment represents a significant 11.26% increase in share count, with a total value of $44,426,480.

Summary of Sold Out

Alan Fournier (Trades, Portfolio) completely exited 1 holding in the fourth quarter of 2024, as detailed below:

• Micron Technology Inc (NASDAQ:MU): Alan Fournier (Trades, Portfolio) sold all 340,432 shares, resulting in a -10.08% impact on the portfolio.

Key Position Reduces

Alan Fournier (Trades, Portfolio) also reduced positions in 7 stocks. The most significant changes include:

• Reduced Perimeter Solutions Inc (NYSE:PRM) by 430,000 shares, resulting in a -15.93% decrease in shares and a -1.65% impact on the portfolio. The stock traded at an average price of $13.05 during the quarter and has returned -0.83% over the past 3 months and -5.95% year-to-date.
• Reduced Core Scientific Inc (NASDAQ:CORZ) by 164,813 shares, resulting in a -20.74% reduction in shares and a -0.56% impact on the portfolio. The stock traded at an average price of $14.82 during the quarter and has returned -18.81% over the past 3 months and -10.78% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, Alan Fournier (Trades, Portfolio)'s portfolio included 16 stocks, with top holdings including 15.63% in EchoStar Corp (NASDAQ:SATS), 12.54% in Amazon.com Inc (NASDAQ:AMZN), 10.84% in Antero Resources Corp (NYSE:AR), 8.19% in Perimeter Solutions Inc (NYSE:PRM), and 7.84% in Alphabet Inc (NASDAQ:GOOGL).

The holdings are mainly concentrated in 8 of the 11 industries: Technology, Industrials, Energy, Consumer Cyclical, Basic Materials, Communication Services, Utilities, and Financial Services.

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.