On Jan. 26, Pursue Wealth Partners LLC reported selling Advance Auto Parts (AAP +0.51%), unloading 65,664 shares.
- Sold 65,664 shares of Advance Auto Parts.
- The position was worth $4 million at the end of the previous quarter.
- It no longer holds any shares in the company/
- The position accounted for 2.2% of the fund’s AUM at the end of the third quarter.
What happened
According to a SEC filing dated Jan. 26, Pursue Wealth Partners LLC sold its entire stake of 65,664 shares in Advance Auto Parts. The fund no longer holds any shares in the company.
What else to know
- The fund sold out of Advance Auto Parts
- Top holdings after the filing:
- NASDAQ: MSFT: $15 million (7.3% of AUM)
- NASDAQ: NVDA: $14.2 million (6.9% of AUM)
- NASDAQ: AMZN: $11.9 million (5.8% of AUM)
- NASDAQ: MOAT: $9.2 million (4.4% of AUM)
- NYSEMKT:AAPL: $8.6 million (4.2% of AUM)
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $8.6 billion |
| Net income (TTM) | ($571.5 million) |
| Dividend yield | 2.1% |
| Price (as of market close 1/23/26) | $46.77 |
Company snapshot
Advance Auto Parts operates a large-scale specialty retail network focused on automotive aftermarket products and services. The company addresses professional and retail customers, offering a broad product assortment and value-added services.
- Offers automotive replacement parts, accessories, batteries, and maintenance items for a wide range of vehicles, including domestic and imported cars, SUVs, and trucks.
- Generates revenue through retail and commercial sales, both in-store and online, with additional services such as battery installation, engine diagnostics, and tool loan programs.
- Serves professional installers and do-it-yourself customers across the United States, Puerto Rico, Canada, and select international markets through its Advance Auto Parts, Carquest, and Worldpac brands.
What this transaction means for investors
Advance Auto Parts made up a significant amount of Pursue Wealth’s assets that it reports on SEC Form 13F. Worth $4 million as of Sept. 30, it represented 2.2% of its $182 million of reported assets under management.
The fund may have given up given the stock has performed poorly. Advance Auto Parts’ shares lost 1.8% over the last year through Jan. 23. During this time, the S&P 500 index produced a total return of 15.4%.
Advance Auto Parts produced positive same-store sales (comps) in the latest quarter. Third-quarter comps increased 3% in the period that ended on Oct. 4.
It might be premature to celebrate. While management has been trying to execute a turnaround plan, including closing a number of underperforming locations and opening others in different locations, the company faces intense competition from other auto parts retailers.
Investors may want to look for sustained comps growth before committing investment funds to Advance Auto Parts.
