Exploring the Fourth Quarter 2024 13F Filing

David Nierenberg (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. David Nierenberg (Trades, Portfolio) is the founder and president of Nierenberg Investment Management Company, which manages the D3 Family of Funds, a group of four private investment partnerships. He also serves on the Washington State Investment Board, which manages public employee retirement funds. He is a graduate of Yale College and Yale Law School. Seeking long-term capital gains, Nierenberg invests in a concentrated portfolio of undervalued, domestic, micro-cap growth companies. He believes in activism in some circumstances.

Warning! GuruFocus has detected 6 Warning Signs with COOP.

Summary of New Buy

David Nierenberg (Trades, Portfolio) added a total of four stocks, among them:

The most significant addition was Criteo SA (NASDAQ:CRTO), with 67,555 shares, accounting for 1.48% of the portfolio and a total value of $2.67 million. The second largest addition to the portfolio was Preformed Line Products Co (NASDAQ:PLPC), consisting of 4,555 shares, representing approximately 0.32% of the portfolio, with a total value of $582,080. The third largest addition was Big 5 Sporting Goods Corp (NASDAQ:BGFV), with 67,555 shares, accounting for 0.07% of the portfolio and a total value of $120,920.

Key Position Increases

David Nierenberg (Trades, Portfolio) also increased stakes in a total of eight stocks, among them:

The most notable increase was Expand Energy Corp (NASDAQ:EXE), with an additional 19,300 shares, bringing the total to 19,555 shares. This adjustment represents a significant 7,568.63% increase in share count, a 1.07% impact on the current portfolio, with a total value of $1,946,700. The second largest increase was Concentrix Corp (NASDAQ:CNXC), with an additional 30,170 shares, bringing the total to 64,480. This adjustment represents a significant 87.93% increase in share count, with a total value of $2,790,050.

Summary of Sold Out

David Nierenberg (Trades, Portfolio) completely exited five holdings in the fourth quarter of 2024, as detailed below:

Southwestern Energy Co (SWN): David Nierenberg (Trades, Portfolio) sold all 199,555 shares, resulting in a -0.8% impact on the portfolio. Helen Of Troy Ltd (NASDAQ:HELE): David Nierenberg (Trades, Portfolio) liquidated all 15,080 shares, causing a -0.53% impact on the portfolio.

Key Position Reduces

David Nierenberg (Trades, Portfolio) also reduced positions in five stocks. The most significant changes include:

Story Continues

Reduced Fluor Corp (NYSE:FLR) by 309,503 shares, resulting in a -71.63% decrease in shares and a -8.37% impact on the portfolio. The stock traded at an average price of $52.81 during the quarter and has returned -8.23% over the past 3 months and -6.35% year-to-date. Reduced Community Health Systems Inc (NYSE:CYH) by 150,000 shares, resulting in a -96.43% reduction in shares and a -0.52% impact on the portfolio. The stock traded at an average price of $4.17 during the quarter and has returned -18.44% over the past 3 months and 10.20% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, David Nierenberg (Trades, Portfolio)'s portfolio included 51 stocks. The top holdings included 19.34% in Mr. Cooper Group Inc (NASDAQ:COOP), 15.58% in Potbelly Corp (NASDAQ:PBPB), 13.94% in Cantaloupe Inc (NASDAQ:CTLP), 13.73% in EQT Corp (NYSE:EQT), and 5.87% in Eastern Bankshares Inc (NASDAQ:EBC).

The holdings are mainly concentrated in 10 of all the 11 industries: Financial Services, Technology, Energy, Consumer Cyclical, Industrials, Communication Services, Basic Materials, Real Estate, Healthcare, and Consumer Defensive.

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.

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