Analyzing Conning Inc.'s Q4 2022 vs. Q1 2023 13F Holdings: An Overview of Investment Changes

Conning Inc., the Hartford-based investment management company with over 100 years of experience, has announced significant changes in its holdings over the last quarter of 2022 and the first quarter of 2023.

In this article, we'll analyze the changes in holdings of some of Conning's top-performing funds, as per the data available in the 13F filings. We'll take a closer look at the companies' current investment status, compare them to their previous quarter's status, and attempt to interpret the reasons behind these changes.

Before we dive into the analysis, let's take a quick look at what the 13F filings say about Conning's investments.

Conning's Q4 2022 vs. Q1 2023 13F Holdings: An Overview

Conning's top-performing funds have shown a mixed bag of results in the fourth quarter of 2022 and the first quarter of 2023. According to the 13F filings, Conning has made significant changes to its portfolio by adding new investments, selling some holdings, and increasing or decreasing current positions.

In terms of the total number of shares, one of the most noticeable changes was made to the SPDR S&P 500 ETF TR (SPY), where there was a marginal increase of 0.29% in the number of shares acquired in Q1 of 2023. This points to a continued bullish outlook on the fund, despite a rise in its value by 7.4%.

On the other hand, Procter & Gamble Co (PG) and ABBVIE Inc (ABBV) witnessed a surge in the number of shares acquired, with stocks increasing by 5.5% and 2.1%, respectively, in the Q1 of 2023.

However, Pfizer Inc (PFE) witnessed a disappointing dip in shares by 4.7%, despite being one of Conning's top holdings.

In terms of the top-performing sectors, IT software and pharmaceuticals continued to show a strong presence. For example, Texas Instruments (TXN) had a 13.6% increase in shares, while Mondelez International Inc (MDLZ) had a 6.5% increase and QualComm Inc (QCOM) had a substantial increase of 15.2%.

Conversely, there were a few companies and sectors that struggled quite significantly, including Bank of America (BAC) with a 12.3% decrease in shares, Philip Morris International Inc (PM) with a loss of 30.4%, and General Dynamics Corp (GD) with a loss of 0.1%.

Key Takeaways

Through the analysis of Conning's Q4 2022 vs. Q1 2023 13F filings, the following key takeaways are evident:

1. The investment firm has been diversifying its portfolio by investing in different sectors, including IT software and pharmaceuticals, and this trend is likely to continue in the future.

2. Conning has made some smart investment decisions in companies such as Procter & Gamble, ABBVIE, and Texas Instruments, which experienced significant gains throughout the quarter.

3. While Conning continues to believe in S&P 500 ETF, there have been some stocks, such as Bank of America and Philip Morris International, that have struggled during the period.

Conclusion

Conning's Q4 2022 vs. Q1 2023 holdings show a balance of optimism and caution. The investment management company seems to have made several calculated decisions to balance its portfolio's risk and reward. By making crucial investment decisions, Conning has positioned itself well in sectors that are expected to perform well regardless of market fluctuations. Although some of their stocks have experienced a decline in value, overall, there are significant reasons to be optimistic about Conning's investment strategy and performance in the long run.