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Analyzing the Q4 2022 holdings of Allen Investment Management LLC: What impact did the changes have on the fund's value and what do they tell us about the investment landscape?

Ava Hoppe | 20 April, 2023

In the world of investment management, it's important to pay close attention to changes in holdings. One fund that has recently made some notable changes is Allen Investment Management LLC. In Q3 2022, the fund held a certain number of shares in various companies, but by Q4 2022, those holdings had shifted, with shares being bought or sold. What impact did these changes have on the fund's overall value, and what can they tell us about the investment landscape?

Let's start by looking at the top holdings in the fund. In Q3 2022, the fund held over 5.6 million shares in Charles Schwab Corporation (SCHW), which had a value of over $407 million. By Q4 2022, however, the fund had sold some of its shares, bringing its total number down to just over 5.5 million. Despite this reduction in holdings, the value of the shares held actually increased to over $462 million, representing a 13.4% change.

The fund also held significant stakes in UnitedHealth Group (UNH) and Microsoft Corporation (MSFT). However, while the number of shares in these companies decreased slightly from Q3 2022 to Q4 2022, the value of those shares increased by 1.2% and 2.8%, respectively. This suggests that these companies may have been performing well during this period, which is presumably why the fund chose to retain some level of investment in them.

One company that the fund did choose to sell off a significant portion of its holdings in is Alphabet Inc. (GOOG). In Q3 2022, the fund held over 4.4 million shares in Alphabet, worth over $426 million. But by Q4 2022, the fund had sold off over 87,000 shares, leaving it with just over 4.3 million. More significantly, the value of those shares dropped by 8.7%, suggesting that the fund may have had concerns about Alphabet's future prospects.

Another notable change in holdings was the significant increase in shares held by Canadian Pacific Railway (CP.TO). In Q3 2022, the fund held just under 3 million shares in this company. By Q4 2022, however, that number had jumped to over 3.9 million, representing a 51.7% increase. The value of those shares also went up, by just over 51%.

Similarly, the fund also greatly increased its holdings in Vanguard Total Stock Market ETF (VTI), going from just over 326,000 shares in Q3 2022 to over 581,000 shares in Q4 2022. This represents an increase of 89.4%, while the value of those shares almost doubled, going up by 89%.

Other companies that saw large increases in holdings include Vanguard Tax-Managed Funds (VEA) and Vanguard International Equity Index (VWO), with increases of 43.2% and 20.4%, respectively. These increases could indicate that the fund was seeking to diversify its holdings across multiple international companies.

However, not all changes in holdings were positive. For example, the fund greatly reduced its holdings in two major companies: Amazon.com, Inc. (AMZN) and Comcast Corporation (CMCSA). In the case of Amazon, the fund sold off over 420,000 shares, representing a 36% decrease, while the value of those shares dropped by the same percentage. In the case of Comcast, the fund sold off over 2.8 million shares, representing a massive 67.6% decrease, while the value of those shares dropped by the same percentage.

Overall, it's clear that Allen Investment Management LLC made some strategic changes to its holdings in Q4 2022. While some of these changes were clearly made in response to changes in the market, others were likely due to the fund's overall investment strategy. These changes also provide a valuable snapshot of the current investment landscape, with some companies performing well while others face challenges. As always, it's important to keep an eye on such changes to ensure that investment portfolios remain diversified and focused on long-term growth.

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