Equal-WT
WhaleScore 2.0
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Goldentree Asset Management is based out of New York. Goldentree Asset Management is a hedge fund with 141 clients and discretionary assets under management (AUM) of $56,621,903,470 (Form ADV from 2024-03-28). Their last reported 13F filing for Q2 2024 included $1,204,936,634 in managed 13F securities
and a top 10 holdings concentration of 57.59%. Goldentree Asset Management's largest holding is Bausch Health Companies with shares held of 22,437,028. Whalewisdom has at least 86 13F filings, 54 13D filings, 55 13G filings, and 115 Form 4 filings
Business Description
GoldenTree is an investment advisor that manages investment funds and provides advisory services to clients. They are not restricted from forming additional investment funds, engaging in other business activities, or entering into other investment advisory relationships, even if these activities compete with GoldenTree or require significant time and resources from their personnel. This can create a conflict of interest as the time and effort of GoldenTree's personnel may not be exclusively devoted to a particular client.
GoldenTree also has a conflict of interest in allocating investment opportunities between its clients and Financial Guaranty UK Limited (FGUL), a reinsurance company owned by some of GoldenTree's owners. GoldenTree manages FGUL's investment portfolio, which can lead to conflicts in allocating investment opportunities between FGUL and other clients, especially those with similar investment strategies. GoldenTree and its employees may also invest in securities that they recommend to clients, potentially creating a conflict of interest.
Investment Strategy
GoldenTree is a fundamental value investor with a total-return, catalyst-driven investment process. Their investment philosophy focuses on achieving competitive risk-adjusted returns by actively managing portfolios on a total return basis and minimizing the incidence and severity of loss. This philosophy is built on four pillars: robust fundamental analysis to determine enterprise value, analysis of capital structure to ensure a high margin of safety, identified catalysts to drive total return, and real-time and rigorous relative value analysis.
GoldenTree may implement its investment strategy by investing on a levered or unlevered basis in securities and instruments purchased for its clients. The specific investment strategy employed will depend on the client's mandate and restrictions. Some clients may seek certain investment returns over an applicable benchmark, while others may seek absolute total returns. GoldenTree may also seek to determine risk tolerance for the portfolio, execute portfolio hedging strategies, establish a macroeconomic view, and identify primary risk factors.
Owners
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Known Email Addresses
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2024-06-30
Top Buys (13F)
| Name | % Change |
|---|---|
| CCL Carnival Corp. | 4.36% |
| BECN Beacon Roofing Suppl | 3.27% |
| MGM MGM Resorts Internat | 3.09% |
| BKLN Invesco Senior Loan | 2.6% |
| WBA Walgreens Boots Alli | 2.44% |
2024-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| BHC Bausch Health Compan | 10.35% |
| BLDR Builders FirstSource | 3.38% |
| T AT&T Inc. (Southwest | 3.06% |
| COF Capital One Financia | 2.72% |
| THC Tenet Healthcare Cor | 2.08% |
2024-06-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| BHC Bausch Health Compan | 12.98% |
| PRKS United Parks & Resor | 7.39% |
| CCL Carnival Corp. | 6.9% |
| BLCO Bausch + Lomb Corp | 6.15% |
| MGM MGM Resorts Internat | 5.94% |
2024-06-30
13F Activity
| Market Value | $1.20b, Prior: $1.26b |
| Inflows (Outflows) as % of Total MV | +5.0667% |
| New Purchases | 11 stocks |
| Added To | 15 stocks |
| Sold out of | 7 stocks |
| Reduced holdings in | 8 stocks |
| Top 10 Holdings % | 57.59% |
| Turnover %[1] | 37.5% |
| Turnover Alt %[2] | 27.61% |
| Time Held Top 20 | 3.25 quarters |
| Time Held Top 10 | 4.3 quarters |
| Time Held All | 3.71 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
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2024-06-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30