Intelligent Insights: Hamilton Capital's Q4 2022 vs. Q1 2023 13F Holdings Analysis

Hamilton Capital LLC, a prominent financial management firm, recently filed its Q4 2022 and Q1 2023 Form 13F with the Securities and Exchange Commission. Form 13F is a quarterly report filed by institutional investment managers detailing their holdings in publicly traded companies.

A comparison of Hamilton Capital's Q4 2022 and Q1 2023 13F holdings reveals several noteworthy changes. Read on for an intelligent analysis of the firm's movements and what they could mean for investors.

First, let's take a quick look at Hamilton Capital's top five holdings as of Q1 2023.

Top Five Holdings

1. SPDR Ser Tr (SPYV) - Sharing the top spot with WisdomTree, SPDR Ser Tr holds over $407 million in value.

2. WisdomTree Tr (DGRW) - Standing second with a value of around $405 million, WisdomTree boasts over 6 million shares.

3. ISHARES INC (IEMG) - A significant reduction in shares from Q4 2022, now totaling around 2.3 million.

4. ISHARES TR (EMB) - Another significant increase in shares from Q4 2022, now totaling over 1 million with $97 million in value.

5. VANGUARD SCOTTSDALE FDS (VCSH) - Another increase in shares with over 1.1 million held by Hamilton Capital.

Now that we know the top holdings, let's dive into some of the most significant changes that Hamilton Capital made to its portfolio.

IEMG

Hamilton Capital increased its stake in the ISHARES INC fund from around 1.4 million shares to nearly 2.4 million shares, an increase of roughly 78.5%. This fund is known for its low expense ratio and is featured prominently in many passive investment strategies. Hamilton Capital's increased stake indicates a bullish outlook on the future prospects of emerging markets.

EMB

Another fund that Hamilton Capital increased its holdings in significantly is the ISHARES TR fund. The firm nearly doubled its stake in EMB to over 1.1 million shares. This is also indicative of a bullish outlook on the bond market. EMB contains a diverse mix of emerging market bonds, with a particular focus on Latin America and Asia.

SLYV

Hamilton Capital sold off around 7,137 shares of SPDR Ser Tr (SLYV) in Q1 2023, reducing its holdings by approximately 17.3%. This fund falls into the small-cap value category and may indicate Hamilton Capital's reduced confidence in value stocks generally.

HSBC

Hamilton Capital completely sold off its position in HSBC Holdings PLC ADR (HSBC), which it held through Q4 2022. This move comes as a surprise as HSBC is traditionally known for its stability and consistent returns.

Conclusion

While Hamilton Capital's Q1 2023 holdings reflect a bullish outlook for the most part, the firm seemed to be playing it safe in several areas. By selling off its holdings in HSBC and reducing its stake in value stocks, the firm was likely hedging against market volatility. Overall, Hamilton Capital's Q4 2022 vs. Q1 2023 13F holdings report reflects a thoughtful strategy that may give other investors a clue to follow.