Clearline Capital is based out of New York. Clearline Capital is a hedge fund with 3 clients and discretionary assets under management (AUM) of $1,232,000,000 (Form ADV from 2024-05-09). Their last reported 13F filing for Q2 2024 included $3,619,456,648 in managed 13F securities
and a top 10 holdings concentration of 77.72%. Clearline Capital's largest holding is SPDR S&P 500 ETF TRUST with shares held of 4,550,000. Whalewisdom has at least 43 13F filings, and 3 13G filings
Business Description
Clearline Capital LP is an advisory business that provides investment services. They offer a variety of investment strategies and approaches, which may evolve over time due to market developments, new investment products, or technological innovation. The investments made on behalf of their clients will be consistent with the client's investment objectives.
Clearline Capital LP is committed to ethical practices and has no legal or disciplinary events involving their advisory business or management. They provide information about their qualifications and business practices in their brochure, which is available on the SEC's website.
Investment Strategy
The Funds aim to achieve capital appreciation by taking long and short positions primarily in equity and fixed income securities. They strive for high absolute rates of return while minimizing the risk of capital loss. The investment strategy is driven by a rigorous scenario analysis informed by Clearline's macroeconomic view. Clearline runs multiple operating scenarios and overlays the earnings and cash flow outputs with a historical range of valuation metrics. They generally seek to ensure that their macro view overshoots towards pessimism when evaluating long positions and optimism when evaluating short positions.
Clearline generally looks for investments that provide material upside that allows a "margin-of-comfort" that they believe can still result in an attractive investment return even if unanticipated negative events occur. At the same time, they seek to confirm that the investment does not have material downside and that a security's or other financial instrument's value and underlying cash flows provide a "margin-of-safety" that should minimize losses. They generally seek securities or other financial instruments in which (i) the issuer or other underlying reference asset is or will soon undergo change driven by a particular event, and (ii) the security's or other financial instrument's trading value materially differs from its fundamental value.
Owners
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Other Contact Information
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2024-06-30
Top Buys (13F)
| Name | % Change |
|---|---|
| SPY SPDR S&P 500 ETF TRU (PUT) | 17.86% |
| AAPL Apple Inc | 0.72% |
| TDOC Teladoc Health Inc | 0.53% |
| HUBS Hubspot Inc | 0.48% |
| HLIT Harmonic Inc. | 0.39% |
2024-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| FIS Fidelity National In | 1.59% |
| LIVN LivaNova PLC | 1.36% |
| AMZN Amazon.com Inc. | 1.26% |
| PRMW Primo Water Corp | 1.25% |
| QDEL Quidelortho Corp | 1.1% |
2024-06-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| SPY SPDR S&P 500 ETF TRU(PUT) | 68.41% |
| PRGO Perrigo Co PLC | 1.3% |
| TKO TKO Group Holdings I | 1.26% |
| AMZN Amazon.com Inc. | 1.25% |
| TDOC Teladoc Health Inc | 1.18% |
2024-06-30
13F Activity
| Market Value | $3.62b, Prior: $2.05b |
| Inflows (Outflows) as % of Total MV | +41.5528% |
| New Purchases | 40 stocks |
| Added To | 46 stocks |
| Sold out of | 16 stocks |
| Reduced holdings in | 26 stocks |
| Top 10 Holdings % | 77.72% |
| Turnover %[1] | 35% |
| Turnover Alt %[2] | 6.02% |
| Time Held Top 20 | 3.4 quarters |
| Time Held Top 10 | 2.2 quarters |
| Time Held All | 4.47 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-06-30
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2024-06-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30