Analyzing Victory Capital Management Inc’s top holdings and changes in Q4 2022 13F filing
Ava Hoppe | 18 April, 2023
Victory Capital Management Inc (VCM) has recently released its latest 13F filing for Q4 2022, revealing changes in the fund's holdings compared to the previous quarter. The data shows that the fund's total value of holdings decreased from $30.3bn to $29.4bn, with a number of significant shifts in individual stocks. Here, we will take a closer look at the top holdings of VCM and examine the changes that have occurred over the past quarter.
Apple Inc (AAPL) remains the largest holding of VCM, but the fund has reduced its holdings by 8.1%, from 12.9 million shares to 12.6 million shares, resulting in a decrease in value from $1.78bn to $1.64bn. Microsoft Corp (MSFT) has moved up to become the second largest holding of VCM, with an increase in shares and value from 6.5 million shares to 6.6 million shares and from $1.5bn to $1.59bn, respectively.
The third largest holding of VCM is Victory Portfolios II (UITB), though this holding decreased by 1% in shares and value from 19.9 million shares to 19.5 million shares and from $897.4m to $888.4m, respectively. Amazon.com Inc (AMZN) suffered the largest decrease in value among the top holdings, dropping by 22.7% to $646.4m from the previous quarter's value of $836.8m.
Notably, Ross Stores Inc (ROST) had a remarkable increase in value of 39.1%, moving from $443.6m to $617.3m. Quest Diagnostics Inc (DGX) and Yum Brands Inc (YUM) also had significant increases in value of 28.9% to $509.7m and 24.2% to $508.5m, respectively.
Another trend among VCM's holdings is a shift towards growth stocks, with many technology companies and their sub-sectors seeing an increase in their holdings. For instance, Skyworks Solutions Inc (SWKS) had a sizeable increase of 86.9% in value, while Nvidia Corporation (NVDA) saw a rise of 28.5%. Other technology stocks, such as Microsoft Corp and Alphabet Inc (GOOGL), also saw gains in their values.
On the other hand, several of VCM's holdings in more traditional industries, such as the energy sector, saw a decrease in value over the past quarter. Exxon Mobil Corp (XOM) had an increase in shares but a decrease in value of 14.2%. Crown Holdings Inc (CCK) also saw a decrease in value of 27.7%.
A closer look at VCM's holdings shows that there were more increases than decreases in the fund's holdings. This indicates that the fund managers are still bullish on the market and the economy, despite the volatile nature of stocks over the past year.
In conclusion, the Q4 2022 13F filing of VCM reveals several interesting changes in the fund's holdings, with many technology stocks seeing gains and growth in value, while several traditional industry stocks experienced a decline. The data shows that VCM is bullish on the market, as there were more increases in holdings than decreases. As with any investment strategy, it is important to track and analyze changes in holdings of funds and individual stocks.
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