Here’s the latest from Canadian Value Investors!
Atlas Corp Update – Sold on spread elimination (~9% return, ~75% annualized)
13F Updates
TSMC Taiwan Semiconductor Mfg. Co. Ltd. Notes
Planet MicroCap Conference Day One Notes
Our ESG Score is Terrible
Atlas Corp. NYSE:ATCO Update – Sold on spread elimination
As we noted in our October update, Atlas Corp insiders announced they were taking the company private.
“Atlas is effectively owned by the Washington family and Fairfax Financial. Now, Sokol, Fairfax, and friends (68% of shares) want to take it completely private to have the upside for themselves. The offer was recently increased to US$15.50 and is still trading at US$14. It still requires independent Board Member sign off and also shareholders.”
Things have continued to move along, and the spread has now largely closed; it is expected to close by mid-2023 and we view the remaining return as too low to keep holding. In turn, we sold around $15.30 for a total return of ~9% in 1.5 months or 75% annualized. Not so bad.
13F Updates – Most Notable Changes
As we have talked about frequently, looking at what great investors are buying is like bowling with bumpers, and the best source is 13-F filings. Background here - https://www.canadianvalueinvestors.com/cloning-investments-101
These are updated every quarter. There is not always something worth talking about; we only talk about the most notable trades. Here are the ones that caught our attention.