Analyzing Capital Investment Services of America, Inc.'s Recent 13F Filings: Notable Changes and Trends in their Portfolio

Tracking the movements of investment funds can often offer insight into emerging trends and opportunities in the market. One such fund is Capital Investment Services of America, Inc., which recently released its 13F filings for the fourth quarter of 2022 and first quarter of 2023. We analyzed the report to identify notable changes in the fund's holdings and what might have influenced these shifts.

First, we noticed that Microsoft Corp (MSFT) remained the top holding in both quarters. However, the number of shares held by the fund decreased slightly from 141,832 to 137,985, which represents a 2.7% decrease. The value of the holding increased by 17% though, from $34,014,000 to $39,781,000, showing that the fund still has confidence in the tech giant's long-term prospects.

One of the biggest gainers in the fund's portfolio was NVIDIA Corp (NVDA), which saw a 78.9% increase in the value of the fund's holding, from $14,894,000 to $26,647,000. This was largely driven by the strong performance of the company's graphics processing units (GPUs) in the gaming and artificial intelligence markets. The fund also increased its holdings in ANSYS Inc (ANSS) by 37.2%, reinforcing their confidence in the company's computer-aided engineering software offerings.

Other notable gainers in the fund's portfolio include Veeva Systems (VEEV) and Illumina Inc (ILMN), which saw jump of 114.9% and 49.5% in the value of their respective holdings. These companies are both leading players in the healthcare technology space, with Veeva offering cloud-based software for the life sciences industry and Illumina providing genomic sequencing services.

However, not all holdings saw gains. One of the biggest losers was TJX Companies Inc (TJX), which saw a decrease of 33.2% in the value of the fund's holding, from $27,422,000 to $18,320,000. This could be attributed to concerns around the company's ability to navigate the challenges presented by the pandemic, such as supply chain disruptions and labor shortages.

Another major decline was seen in US Bancorp (USB), which saw a decrease of 31.8% in the value of the fund's holding. This can be attributed to a few factors, including concerns about the bank's exposure to riskier loans and rising interest rates, as well as a general shift away from financial stocks in the wake of the pandemic.

Other holdings that experienced declines include FactSet Research Systems (FDS), down 32.3%, and Pfizer Inc (PFE), which was completely sold off by the fund. This could be due to concerns around the company's performance and regulatory challenges.

Looking at the overall portfolio, we can see that Capital Investment Services of America, Inc. has continued to focus on technology companies, with many of the top holdings falling within this sector. However, there are also notable investments in healthcare and finance, as well as a diversified mix of exchange-traded funds (ETFs) and bond funds.

It's worth noting that the fund's portfolio shifts could be driven by a variety of factors, including market trends, company performance, and overall economic conditions. Investors should always do their own research and consult with a financial advisor before making any investment decisions.

In conclusion, Capital Investment Services of America, Inc.'s 13F filings for the fourth quarter of 2022 and first quarter of 2023 offer insight into the fund's evolving investment strategy. The fund has continued to focus on technology as a key area of investment, while also making notable investments in healthcare and finance. While some holdings have experienced declines in value, others have seen significant gains, underscoring the importance of diversification and careful analysis when building an investment portfolio.