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Evanson Asset Management's Q4 2022 vs. Q1 2023: A Deep Dive into the Fund's Holdings

Ava Hoppe | 23 April, 2023

Investors all over the world keep a close eye on quarterly reports filed by institutional investment management firms, as it can give them insights into what the big players are holding or selling. Evanson Asset Management, LLC's 13F report for Q4 2022 and Q1 2023 has recently been filed, and it has caused quite a few ripples in the investment world.

In this article, we will take an in-depth look at Evanson Asset Management's holdings during these quarters and try to understand the rationale behind the changes in their portfolio.

Evanson Asset Management, LLC: An Overview

Before we deep dive into the detailed analysis of Evanson Asset Management's holdings for Q4 2022 and Q1 2023, let's first get to know the firm a bit better.

Evanson Asset Management is a California-based investment management firm founded in 2013. According to their website, they focus on long-term investing and building diversified portfolios for their clients.

Now, let's take a look at the holdings of the fund in the mentioned quarters.

The Most Significant Changes in Evanson Asset Management's Portfolio

One of the most notable changes in Evanson Asset Management's holdings is their reduced position in Vanguard Index Fund (VTI). In Q4 2022, the fund held 189,835 shares with a value of $36,294,000, which was reduced to 160,533 shares worth $32,764,000 in Q1 2023. This represents a 9.7% decrease in shares held, which is significant since this fund is known to have a long-term investment focus.

Another significant change was in Accenture PLC Ireland (ACN). The fund increased its holdings from 18,475 shares worth $4,929,000 in Q4 2022 to 18,493 shares worth $5,285,000 in Q1 2023. This represents a 7.2% increase in shares held.

The fund also significantly increased its holdings in WisdomTree Trust (DTH), going from 114,289 shares valued at $4,099,000 in Q4 2022 to 117,642 shared valued at $4,429,000 in Q1 2023. This represents an increase of 8% in shares held.

Additionally, the fund reduced its holdings in Berkshire Hathaway Inc (BRK-B) from 33,087 shares worth $10,220,000 in Q4 2022 to 23,216 shares worth $7,168,000 in Q1 2023. This represents a 29.9% decrease in shares held.

Finally, it is also worth noting that the fund has initiated a position in EA Series Trust by acquiring 186,370 shares worth $3,267,000 in Q1 2023.

What Does This Mean for Investors?

As we have seen, the fund made some significant changes to its portfolio in Q4 2022 and Q1 2023. However, it is challenging to predict what rationale or strategy held by the fund manager behind these changes, given that there is limited information available.

If we had to make some speculations, it seems like the fund is reducing its position in funds that have had an excellent run in recent years, such as VTI, to potentially lock in some gains. Simultaneously, the fund seems to be interested in adding emerging ETFs like EA Series Trust to diversify its portfolio.

Investors who want to follow in Evanson Asset Management's footsteps must understand that every investment strategy will depend on their specific investment goals and risk tolerance. However, tracking the portfolio changes of large investment management firms can provide valuable insights for building a diversified portfolio.


Evanson Asset Management's 13F report for Q4 2022 and Q1 2023 displayed some significant shifts in the firm's holdings. The fund decreased its position in VTI, while increasing its holdings in stocks like ACN and DTH. With limited information available about the fund's strategy, it's challenging to predict the exact reasoning behind the significant changes. However, investors can use this report to gain a better understanding of the latest changes in holdings and potentially make investment decisions on their own.

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