Evaluating Select Equity Group's Q3 and Q4 2022 Holdings Changes

Select Equity Group, L.P. has made some significant changes in their equity holdings between Q3 and Q4 of 2022. As per the 13F filings, the fund has altered its positions in 59 different equities. In this article, we will delve into the top holdings changes in terms of percentages and their value.

PerkinElmer Inc (PKI)

Select Equity Group increased their position in PerkinElmer Inc by almost 11%, with 875,708 shares in Q3 and 977,769 shares in Q4. This change in position has also increased the value of their holdings from $1,053,740 in Q3 to $1,371,028 in Q4 - a 30.1% increase. This move could be indicative of the fund's bullish outlook on this diversified healthcare company.

Martin Marietta Materials Inc (MLM)

Select Equity Group reduced their position in Martin Marietta Materials Inc by 3.5% in Q4. The fund owned 3,926,190 shares in Q3 compared to 3,610,893 shares in Q4. This change in position has also decreased the value of their holdings from $1,264,587 in Q3 to $1,220,373 in Q4. This reduction in position could imply that Select Equity Group has become less bullish on the construction materials manufacturer.

Ceridian HCM Holding Inc (CDAY)

Select Equity Group increased their position in Ceridian HCM Holding Inc by 14.7% in Q4. The fund owned 21,500,521 shares in Q3 compared to 18,469,873 shares in Q4. This change in position has also increased the value of their holdings from $1,201,449 in Q3 to $1,184,842 in Q4 - a 1.4% decrease. This mixed change in position could suggest that the fund has a neutral outlook on Ceridian's performance.

Brown & Brown Inc (BRO)

Select Equity Group reduced their position in Brown & Brown Inc by 7.2% in Q4. The fund owned 18,591,100 shares in Q3 compared to 17,261,734 shares in Q4. This change in position has also decreased the value of their holdings from $1,124,390 in Q3 to $983,400 in Q4 - a 12.5% decrease. This significant drop in position, and consequently in value, could highlight that the fund has become bearish on this insurance brokerage services provider.

Teledyne Technologies Inc (TDY)

Select Equity Group increased their position in Teledyne Technologies Inc by 5.9% in Q4. The fund owned 2,380,646 shares in Q3 compared to 2,265,726 shares in Q4. This change in position has also increased the value of their holdings from $803,397 in Q3 to $906,086 in Q4 - a 12.8% increase. This move could suggest that the fund has a bullish outlook on this industrial manufacturing company.

Vail Resorts Inc (MTN)

Select Equity Group increased their position in Vail Resorts Inc by 80.9% in Q4. The fund owned 1,446,837 shares in Q3 compared to 2,612,048 shares in Q4. This change in position has also increased the value of their holdings from $311,996 in Q3 to $622,581 in Q4 - a 99.5% increase. This significant jump in position, and consequently in value, could indicate the fund's confidence in this resort and hospitality company.

Overall, Select Equity Group's Q3 and Q4 equity holdings changes are reflective of the fund's cautious yet opportunistic investment outlook. With some increased positions in companies in optimistic sectors such as diversified healthcare and industrial manufacturing, and decreased positions in other sectors such as insurance brokerage services, the fund's portfolio seems balanced and poised for growth.