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Conifer Management

Q2 2024 13F · by Greg Alexander, portfolio manager

As of
Jun 30, 2024
Filed
Aug 13, 2024
US stock
$816M · prev $906M
Positions
6 · prev 7
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves3 since the prior filing

The book

Very concentrated · behaves like 5 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 6.0% a year, about 16.7 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions98% of US stock

  1. EQH Equitable Holdings, Inc. trimmed+1.31 pp trimmed+1.3130.1%
  2. LAD Lithia Motors, Inc. held held21.7%
  3. GPI Group 1 Automotive, Inc. added+3.71 pp added+3.7120.7%
  4. STLA Stellantis N.V. held held17.3%
  5. NBIS Nebius Group N.V. Class A held held8.0%

Positions6 in this filing · 1 exited

EQHEquitable Holdings, Inc.30.06%6,000,000$245Mtrimmed−12%+1.31 pp18 q
LADLithia Motors, Inc.21.67%700,000$177Mheld—7 q
GPIGroup 1 Automotive, Inc.20.72%568,424$169Madded+8%+3.71 pp7 q
STLAStellantis N.V.17.33%7,120,000$141Mheld—14 q
NBISNebius Group N.V. Class A8.01%5,500,000$65Mheld—19 q
RMNIRimini Street, Inc. (DE)2.23%5,913,199$18Mheld—12 q
unresolvedCresud S A C I F Y A—−1,242,313—exited−0.07 pp—

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Accession
0000919574-24-004562
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet