Campbell & CO Investment Adviser's Q3 and Q4 Portfolio Changes: Textainer Group and Veritiv Corp Among Top Holdings

Investment management firms generate a lot of attention for their regular activities in buying and selling shares in various companies. Campbell & CO Investment Adviser LLC is no exception, and every quarter, they must report their holdings and changes in their portfolio. The firm's Q3 2022 versus Q4 2022 report indicates significant changes in their investment portfolio, making it an interesting read for investment enthusiasts.

This report shows that Campbell & CO Investment Adviser LLC increased its holdings in Textainer Group Holdings Ltd (TGH) and decreased its shares in Nucor Corporation (NUE) quarter by quarter. The company also increased its shareholdings in Veritiv Corporation (VRTV), adding more than 224% to its holdings to close at 17,088 shares. At the same time, it decreased its shares in Nucor Corporation by 44.8%, selling 10,600 shares to close at 8,592 shares.

Overall, the company made significant changes to its investment portfolio during the Q3 and Q4 period, investing in companies and reducing stakes in others. Conversely, it sold all its shares of ALLETE Inc (ALE), all its options in Taiwan Semiconductor Manufactu (TSM), and all shares in Amgen Inc (AMGN). Campbell & CO Investment Adviser LLC sold these shares in the hope of purchasing other shares that have a better opportunity for growth.

Campbell & Co. accumulated the most significant stake in Textainer Group Holdings during the period. The shipping container leasing company has seen rough waters over the years, but the company's return to stability has come with excellent financial results. During the third quarter of 2022, Textainer Group Holdings had reported earnings per share of $8.6 million on revenue of $254.9 million. The revenue was 40.5% higher year over year, while earnings per share grew by 550.6%.

Additionally, the company acquired more shares in Veritiv Corporation, which distributes print paper, packaging, and other facility products across the United States through distribution centers. Veritiv's central difference is in partnering with manufacturers to develop custom and innovative products that will be sold to end-users at a lower price than competitors. The company reported strong financials in 2021, with a revenue of $8.2 billion, a net loss of $127.8 million, and earnings per share of $1.72.

The report also shows that its shares in Reliance Steel & Aluminum Co (RS) grew at over 200% from Q3 to Q4, and the holding value in the company surged by 210.9%. Reliance Steel & Aluminum deals with processing and distribution of metal products, including aluminum, brass, and steel products. The company reported a revenue of $11.6 billion and net income of $624.8 million, indicating a 45.9% increase in revenue in 2021 compared to the previous year.

In contrast, the firm significantly reduced its shares in Nucor Corporation (NUE), a steel production firm, by almost 46%. This is understandable because the company had faced several challenges in 2020. It reported a net loss of $913 million in 2020, but the company has shown resilience in its financials, with revenue growing by over $15 billion, implying a 69% increase in revenue in 2021 compared to the previous year.

In conclusion, Campbell & CO Investment Adviser LLC's Q3 versus Q4 report shows diverse changes in its investment portfolio as the company invests in some companies and reduces holdings in others. While the company focuses on companies with strong financials and potential for growth, it's comforting to see the company investing in companies with a history of navigating through adversity. These changes will stimulate the portfolio's growth and, in turn, benefit the fund's investors in the long term.