This Stock Is Up 38% in the Past Year but Just Saw a Big Portfolio Cut
Key Points
California-based Global IMC sold 253,168 shares of Sportradar Group in the third quarter.
As of September 30, Global IMC reported holding 118,389 SRAD shares valued at $3.18 million.
The move contributed to a decreased overall position value of about $7.25 million.
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California-based Global IMC disclosed a significant reduction in its Sportradar Group AG (NASDAQ:SRAD) stake, trimming approximately $7.25 million in value, according to a November 14 SEC filing.
What Happened
According to a November 14 SEC filing, Global IMC LLC sold 253,168 shares of Sportradar Group AG (NASDAQ:SRAD) during the third quarter. The transaction, valued at about $7.5 million, reduced the stake to 118,389 shares, or $3.18 million. The move reflects ongoing fund liquidation, with the SRAD position falling from 45.2% to 13.5% of reportable assets.
What Else to Know
Top holdings after the filing:
- NYSE: KGC: $3.76 million (15.9% of AUM)
- NYSE: HBM: $3.54 million (15.0% of AUM)
- NASDAQ: TSEM: $3.45 million (14.6% of AUM)
- NASDAQ: IREN: $3.45 million (14.6% of AUM)
- NYSE: EGO: $3.33 million (14.1% of AUM)
As of Friday, SRAD shares were priced at $22.86, up nearly 38% over the past year and well outperforming the S&P 500, which is up 16.5% in the same period.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.23 billion |
| Net Income (TTM) | $94.83 million |
| Market Capitalization | $6.77 billion |
| Price (as of market close Friday) | $22.86 |
Company Snapshot
- Sportradar Group provides sports data services, software, and live streaming solutions to sports betting operators, sports leagues, and media companies worldwide.
- The company generates revenue through mission-critical data feeds, analytics, and technology platforms that support the full sports betting and media value chain.
- Primary customers include bookmakers, sports leagues, and international media organizations in Europe, the United States, and globally.
Sportradar Group AG is a leading provider of sports data, analytics, and digital content solutions for the sports betting and media industries. The company leverages proprietary technology and a global network to deliver real-time data, risk management, and visualization services to its clients. With a diverse customer base and robust technology platform, Sportradar maintains a competitive advantage by offering comprehensive solutions across the sports data ecosystem.
Foolish Take
What matters for long-term investors is not the size of the trim, but how dramatic it was. This position went from being the fund’s defining holding to a much smaller line item in a single quarter, a move that says more about portfolio mechanics than sudden loss of faith. When a fund is liquidating and reallocating capital, even strong performers can get caught in the crossfire..
The irony is that the fundamentals have looked solid. In the third quarter, Sportradar Group reported revenue of 292 million euros, up 14% year over year, while adjusted EBITDA jumped 29% to 85 million euros, pushing margins to a record 29%. Free cash flow came in at 65 million euros, customer net retention hit 114%, and management raised full-year revenue guidance to at least 1.29 billion euros. The company also expanded its share repurchase authorization to $300 million, reinforcing confidence in cash generation.
It’s important to remember that stocks like this can deliver strong numbers and still trade violently when ownership changes. A fund selling does not negate the business. It does, however, remind you that volatility cuts both ways, and position sizing matters just as much as conviction when the tape gets choppy.
Glossary
13F AUM: The total value of assets a fund manager reports on SEC Form 13F, covering certain U.S. securities.
Fund liquidation: The process of selling off a fund's assets, often to return capital to investors or close the fund.
Net position change: The difference in the number or value of shares held before and after a transaction.
Reportable assets: Assets a fund manager must disclose in regulatory filings, such as those listed on Form 13F.
Stake: The ownership interest or investment a person or entity holds in a company.
Outperforming: Achieving a higher return or better performance than a benchmark or index.
Value chain: The full range of activities involved in creating and delivering a product or service.
Proprietary technology: Technology owned and controlled by a company, often providing a competitive edge.
Risk management: Identifying, assessing, and taking steps to minimize potential financial losses.
Visualization services: Tools or platforms that present data in graphical or interactive formats for easier analysis.
Mission-critical: Essential systems or services that are vital to the operation of a business.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Sportradar Group Ag. The Motley Fool recommends the following options: short February 2026 $32.50 calls on Sportradar Group Ag. The Motley Fool has a disclosure policy.
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