VOO’s expense ratio is a respectful $6 cheaper annually for every $10,000 invested. A saving so modest, it could feed a single man’s lottery ticket habit for a year. Yet, for investors who live two decades longer than they expect to, such thrift becomes a grudge-match. VOO’s dividend yield, a mere scrap of cents, might buy extra hours of coffee, or one more round of small talk at a conference where nothing much matters. So it goes.
When a fund waves its wand and makes an investment poof from its portfolio, market sages lean in like children at a magic show. Oasis’ “abracadabra” came dressed in dry regulatory prose: a complete liquidation of KT holdings, transforming $8.31 million in telecom alchemy into… well, that remains the punchline. The remaining treasure map reveals NYSE:MTN glittering like Midas’ crown (32.7% of AUM), while NASDAQ:VNET and NASDAQ:STRS shimmer enticingly-a veritable constellation for those chasing the Northern Lights of ROI.
Anson Funds, ever the pragmatists, elected to liquidate 2.15 million shares of Perpetua Resources in the third quarter, a feat accomplished with the precision of a well-timed tea party exit. The disclosure, filed with the SEC on the 13th, reads less like a financial maneuver and more like a polite retreat from a suddenly popular party. One might say the stock had become too the rage for the fund’s delicate sensibilities.
The numbers do not lie, though they may flinch. Caesars’ shares now linger at $23.39, a 30% carcass compared to last year’s corpse. The S&P 500, that relentless optimist, has risen 16% in the same span. Yet Quaker Capital, with the detachment of a coroner, dissects the remains. Its 13F filing reveals a portfolio heavy with EQT ($62.31 million) and UBER ($36.71 million)-holdings that suggest diversification, not desperation. The Caesars bet sits outside its top five, a calculated footnote.
It appears that Vision Capital, in a fit of business acrobatics, sold off 330,000 shares of SL Green during the quarter, reducing its hold to absolute zero, a state most would call “ownership of a ghost.” This act reduced their stake to a mere footnote, once a significant 9.13% of the fund’s assets. With the grace of a trapeze artist falling into the safety net of cash, they handed over their securities, basing the transaction on an average quarterly price that, depending on your mood, could be considered both a triumph of timing or an ironic reminder of how unpredictable the financial circus can be. It’s as if the fund decided, “All aboard the exit train” and left the station just in time for the next rollercoaster loop.
The SEC filing reveals a curious truth: this fund, possessing merely four holdings, has chosen to frame EPAM’s digital engineering prowess alongside industrial distributors and airline stocks. It’s the artistic equivalent of hanging a Monet next to a spreadsheet – yet therein lies the genius. While the market dismisses EPAM’s $204.88 share price as a faded masterpiece, Wishbone sees the brushstrokes of enterprise AI spending waiting to be rediscovered.
The publication of the SEC’s clandestine manuscript on November 13 reveals the stake-a testament to the enduring ambiguity of financial symbolism. The fund’s latest act constructs a mirror in which Comerica now stands as its most significant reflection, a monolith amid shifting shadows. Two million shares, a fragment of the multiverse, echo through the corridors of the institutional mind, positioning the bank as a colossus in their portfolio-a figure reshaped by the act of holding.
According to the filing, a document that might as well have been etched into parchment by some forgotten clerk, HoldCo’s position in Columbia Banking System expanded during the third quarter. The new stake, 5.72 million shares, carried a valuation of $147.30 million as of September 30-a date chosen not for its significance but by the arbitrary rhythm of quarterly reckonings. The bank, with its branches sprawling across Washington, Oregon, Idaho, and California, now constitutes 15.55% of HoldCo’s $947.56 million 13F AUM, a fraction that seems both deliberate and absurd.
The aforementioned filing, submitted to the unyielding machinery of the SEC, disclosed to any who might care to decipher its convoluted contents a new position in BankUnited (BKU 0.11%). The fund’s decision to procure 936,900 shares during the preceding quarter, which now stands as a testament to some inscrutable strategy, translates to a portfolio position deemed to be worth $35.75 million at the quarter’s end-an investment that constitutes a disconcerting 3.77% of its total $947.56 million in reportable U.S. equity assets, spread across a labyrinthine array of 26 positions.
In the actual process-I mean, the process that qualifies as such within the sprawling, opaque bureaucratic hive-the filing with the Securities and Exchange Commission (SEC) on a day marked by the meaningless chronology of November 13 reveals nothing more than the continued inflation of a shadowy figure-HoldCo, now holding a stake valued at approximately $116.32 million-though whether this figure meaningfully represents something tangible, or merely a fragment of the endless, recursive game, remains open to question. It is, after all, the third quarter, a period that mirrors the cyclical rise and inevitable fall, yet also a testament to the insatiable appetite for accumulating holdings, as if such acts could somehow alter the relentless, creeping entropy of the financial universe.