A Closer Look at Hammer Asset Management's Q3-Q4 2020 Portfolio Shifts

The end of 2020 marked the end of an unprecedented year, with the COVID-19 pandemic still wreaking economic havoc around the world. Amidst all the chaos, investors and asset managers had to adapt their strategies to navigate through the rough markets. Hammer Asset Management, LLC was no exception, and as per their latest 13F filings, here are the major portfolio changes that the company had in the fourth quarter of 2020 compared to the previous quarter.

Issuer Name: BARINGS CORPORATE INVS

Hammer Asset Management reduced its holding in Barings Corporate Invs by 14.8%, from 83,507 shares to 67,511 shares.

Issuer Name: ABBVIE INC

The company also decreased its holding in AbbVie Inc by 6.1%, from 7,672 shares to 6,657 shares.

Issuer Name: VERIZON COMMUNICATIONS INC

The holding of Verizon Communications Inc took a dip as well, with Hammer Asset Management selling 7.8% of its holding, from 12,491 shares to 11,652 shares.

Issuer Name: CUMMINS INC

Cummins Inc was another company that Hammer Asset Management reduced its investments in. The company decreased its holding by 10.7%, from 3,626 shares to 3,011 shares.

Issuer Name: APPLE INC

The most significant change in the Hammer Asset Management Portfolio was its reduction of investments in Apple Inc, with the company decreasing its holding by a staggering 51.3%, from 11,835 shares to 5,033 shares. The value of the investment also reduced from $1.3 million to $668,000.

Issuer Name: TJX COS INC NEW

Hammer Asset Management also sold a considerable chunk of TJX Cos Inc New holding, with the investment dropping by 15% from 14,044 shares to 9,735 shares.

Issuer Name: VANGUARD SCOTTSDALE FDS

Another significant reduction was in Vanguard Scottsdale FDS, with the holding falling by almost 30%, from 8,836 shares to 6,127 shares.

Issuer Name: TRACTOR SUPPLY CO

Hammer Asset Management saw the most significant increase in investment in Tractor Supply Co, with the holding increasing by 39.3% from 4,548 shares to 2,817 shares.

Issuer Name: UNITED PARCEL SERVICE INC

Lastly, the company liquidated its entire holding in United Parcel Service Inc with 1,539 shares being sold.

Conclusion

2020 was a volatile year, to say the least, and Hammer Asset Management's portfolio changes seem to suggest caution and a change of approach. While they reduced their holdings in most of the companies, increased investment in some might indicate a shift in priorities. As the world recovers from the pandemic, it will be interesting to see how companies adapt and grow.