Tracking Mick McGuire’s Marcato Capital Management Portfolio – Q4 2017 Update

• Mick McGuire’s 13F portfolio value increased from $877M to $1.09B this quarter.
• Marcato Capital Management dropped Goodyear Tire while increasing Itorn and Rayonier Advanced Materials.
• The largest three individual stock positions are Deckers Outdoor, Terex Corp., and IAC Interactive and they add up to ~42% of the portfolio.

Mick McGuire’s 13F portfolio value increased ~24% from $877M to $1.09B this quarter. The increase was primarily due to an offsetting position in Buffalo Wild Wings PUTs. Recent 13F reports show ~20 individual stock positions. The top five stakes are Deckers Outdoor (DECK), Terex Corporation (TEX), IAC Interactive (IAC), DXC Technology (DXC), and Itron Inc. (ITRI) and they add up to ~53% of the 13F portfolio.

Note 1: In December 2017, they lost a proxy battle with Deckers Outdoor. Regulatory Filings since the quarter ended show them no longer holding shares in Deckers Outdoor.

Note 2: In September 2017, McGuire said he expects Terex Corporation shares to triple although it has already doubled since he first invested in July 2016. Shares were trading in the low-40s at the time. It currently trades at $49.33.

Note 3: Regulatory Filings since the quarter ended show them no longer holding shares in Buffalo Wild Wings. The Arby’s merger resulted in consideration of $157 per share in cash. Prior to that, Marcato also exercised 950K shares in PUT options thereby disposing of the vast majority of the 992K share position.

Below is a spreadsheet that shows the changes to Mick McGuire's Marcato Capital US long portfolio holdings as of Q4 2017. For a look at how the portfolio has progressed, see our previous update:

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .