Impax Asset Management LLC Q1 2018 vs. Q2 2018: A Look at the Changing Landscape of Fund Holdings

Impax Asset Management LLC is a leading investment firm that manages a range of investment portfolios, including equity, fixed income, and balanced strategies. One of the ways that the Securities and Exchange Commission (SEC) monitors investment firms such as Impax Asset Management is by analyzing their quarterly 13F filings. These filings detail the firm's holdings of publicly traded securities, including the number of shares held and their market value.

In this article, we will compare Impax Asset Management LLC's Q1 2018 13F filing to its Q2 2018 filing, to identify changes in the firm's holdings and analyze the potential causes for these shifts.

Overview of Impax Asset Management LLC's Q1 2018 vs. Q2 2018 13F Filings

According to the data from the 13F filings, Impax Asset Management LLC increased its holdings of Microsoft Corp (MSFT) by 1.9%, Amazon COM Inc (AMZN) by 4.5%, and Antero Res Corp (AR) by 2%. The firm also decreased its holdings of Home Depot Inc (HD) by 3.4%, White Mtns Ins Group Ltd (WTM) by 22.4%, and Lilly Eli & Co (LLY) by 1767.7%.

One of the most significant shifts in holdings was the 118.2% increase in Impax Asset Management LLC's investment in Wendy's Co (WEN), with the Q2 filing showing a holding of 1,050,944 shares, up from 471,535 shares in the Q1 filing. It is worth noting that Tom Matthews, Chief Investment Officer of Impax Asset Management, has been bullish on food stocks and has previously stated that the restaurant industry is one of the most attractive areas for investment.

Another notable increase in holdings was Ligand Pharmaceuticals Inc (LGND), with an increase of 30.8%. Impax Asset Management LLC held 174,520 shares in Q1 2018, and this increased to 96,259 shares in Q2 2018. Ligand Pharmaceuticals Inc has recently released strong earnings reports, and the company's partnership with Eli Lilly has driven investor interest in the stock.

Potential Causes for the Changes in Holdings

There are multiple reasons for changes in the holdings of a fund, including portfolio diversification, market trends, and individual stock performance. In the case of Impax Asset Management LLC's Q1 2018 vs. Q2 2018 filings, some stocks saw significant increases in holdings, while others experienced significant decreases.

For instance, the decrease in holdings of White Mtns Ins Group Ltd (WTM) could be due to the company's disappointing earnings report, which showed that the firm's net income had fallen by 22% compared to the previous year. Similarly, the large increase in holdings of Wendy's Co (WEN) could be due to the company's recent efforts to improve its menu and restaurant experience, as well as its strong earnings performance.

Impax Asset Management LLC's increased investment in Ligand Pharmaceuticals Inc (LGND) may be due to the company's recent collaboration with Eli Lilly and Co, which has boosted investor optimism about the stock. Similarly, Impax Asset Management LLC's increased investment in Antero Res Corp (AR) may be due to the company's strong performance, with the firm recently announcing that it had increased its natural gas and oil production by 18% compared to the previous year.

Conclusion

In conclusion, Impax Asset Management LLC's Q1 2018 vs. Q2 2018 13F filings show that the firm has made significant changes to its holdings over the past quarter. While some of these changes can be attributed to market trends and individual stock performance, others may be due to the strategy and investment approach of the company.

As always, it is important for investors to analyze their own investment portfolios and understand the rationale behind each investment decision. By doing so, investors can make informed decisions that align with their investment goals and help them achieve their financial objectives.