Q2 Portfolio Consolidation
Kerrisdale Advisers Trims Stakes Across Multiple Major Stocks in Q2
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Key Points
1
Griffin Corporation: Kerrisdale's COO Robert F. Mehmel sold 22,209 Griffon shares in a transaction dated August 5, reducing Kerrisdale's Griffon stake to 10,220 shares and leaving the COO with 763,691 shares valued at about $77.96 million.
2
onsemi: Kerrisdale reduced its stake by 60.8% in the second quarter, to 14,595 shares, with holdings valued at approximately $1.38 million.
3
AppFolio: Kerrisdale trimmed its position by 37.8% to 13,904 shares, worth about $2.23 million, amid a broader pattern of institutional activity; Vanguard Group and other large investors remain significant holders, and hedge funds collectively own about 85.19% of the stock.
4
Zoom: Insider Velchamy Sankarlingam sold 7,644 Zoom shares on July 15 for roughly $703,095, leaving the insider with 148,403 shares; Kerrisdale's stake was reduced to 31,869 shares.
5
Maplebear CART: Kerrisdale cut its Maplebear stake by 30.8% to 65,106 shares, valued at about $3.083 million; Maplebear represents 0.8% of Kerrisdale's portfolio and is the firm's 26th biggest holding.
Kerrisdale Advisers trimmed positions across five major tech and consumer stocks in the second quarter, signaling a broad pullback from several high-growth holdings. The hedge fund cut its stake in Griffon Corporation by 38.7%, onsemi by 60.8%, AppFolio by 37.8%, Zoom by 31.7%, and Maplebear by 30.8%, reducing overall exposure while maintaining meaningful positions worth between $1 million and $3 million each. Watchlist News
Kerrisdale's Biggest Cuts: onsemi and Griffon
Kerrisdale slashed its onsemi position the most aggressively, selling 60.8% of its holdings to leave just 14,595 shares worth roughly $1.38 million. The firm also reduced Griffon Corporation by 38.7%, cutting the stake to 10,220 shares valued near $1 million. Watchlist News reported both moves came during the second quarter as part of a broader portfolio rotation.
AppFolio, Zoom, and Maplebear Show Moderate Reductions
Kerrisdale trimmed AppFolio by 37.8% to 13,904 shares worth about $2.23 million, while cutting Zoom by 31.7% to 31,869 shares valued at $2.75 million. Watchlist News noted Maplebear (CART) saw a 30.8% reduction, leaving the fund with 65,106 shares worth approximately $3.08 million—making it Kerrisdale's 26th largest holding at 0.8% of the portfolio.
Insider Selling Adds Pressure on Zoom and Griffon
Beyond Kerrisdale's moves, insiders at two companies also sold shares. At Griffon, COO Robert F. Mehmel sold 22,209 shares on August 5, though he retains 763,691 shares valued at roughly $77.96 million. At Zoom, insider Velchamy Sankarlingam sold 7,644 shares on July 15 for about $703,095, leaving him with 148,403 shares. Watchlist News and Ticker Report reported the insider transactions.
Broader Institutional Pattern Continues
Kerrisdale's moves reflect wider institutional repositioning in tech stocks. Watchlist News noted that Vanguard Group and other major investors hold large stakes in AppFolio, where hedge funds collectively own 85.19% of shares. The fund is also cutting exposure to other holdings: it reduced Synopsys by 27% and trimmed LGN by 88.9%, according to Ticker Report, signaling selective capital reallocation across its portfolio.
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