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M* Fund Spy: Primecap Can Ride Out Its Airline Stocks' Turbulence

MarkMark
in Fund Discussions
"The coronavirus’ economic fallout has hit investors in airline stocks especially hard, perhaps none more so than Pasadena-based Primecap Management Company. At year-end 2019, Primecap firmwide owned 14% to 16% of the shares outstanding in three different airlines and stakes in nine other air carriers. As Exhibit 1 shows, shares of each of these airlines shed between 40.7% and 76.1% during the depths of this still-unfolding bear market (Feb. 20, 2020, to March 23, 2020), versus a 33.8% drop for the S&P 500 index."

All 6 Primecap funds are exposed

Comments

  • MarkMark
    Note again - this article reflects holdings as of year end 2019. We as shareholders have no idea what these funds hold today nor will we until the first of June, 2020 at best AND even then those holdings data will be stale as well.
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