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Investing in Q1 2023: Comparing Summit Financial's Q4 2022 vs. Q1 2023 Holdings

Ava Hoppe | 29 April, 2023

Summit Financial Wealth Advisors, LLC is a leading investment management firm that offers personalized financial planning and wealth management services to its clients. The firm recently released its 13F holdings comparison report for Q4 2022 and Q1 2023. The report highlights the changes in the firm's holdings over the two quarters, providing valuable insights for investors who are looking to make informed decisions. In this blog post, we will take a closer look at the report and analyze the changes in Summit Financial's holdings for Q1 2023.

Q4 2022 vs. Q1 2023: A Quick Overview

According to the report, Summit Financial's Q1 2023 13F holdings increased from $520,511,000 to $640,626,000, representing a 23.1% increase. The firm's total number of shares increased from 4,704,689 to 6,790,992, a 44.2% increase. Let's take a closer look at some of the significant changes in Summit Financial's holdings.

VUG and FDL: Significant Increases

Vanguard Index Funds (VUG) and First Trust Morningstar Dividend Leaders ETF (FDL) saw significant increases in shares held by Summit Financial. VUG increased by 12.5% from 128,348 shares to 123,382 shares in Q1 2023. Similarly, FDL saw a massive jump of 92.7%, with shares increasing from 418,927 in Q4 2022 to 831,258 in Q1 2023. This shift toward dividend-generating funds indicates that Summit Financial may be taking a more value-oriented approach in its investments.

DAUG and DGRO: Significant Decreases

On the other hand, First Trust Exchange-Traded Fund VI (DAUG) and iShares Trust (DGRO) experienced the most significant decreases in holding. DAUG shares were entirely liquidated in Q4 2022, while shares in DGRO plummeted by 88.1%, from 353,491 shares in Q4 2022 to 42,204 shares in Q1 2023. This reduction in holdings may be attributed to a shift in investing strategy for Summit Financial.

Individual Stocks

Summit Financial also added and subtracted a few individual stocks from its portfolio. Valero Energy Corp (VLO) shares increased by 9.5%, while Genuine Parts Co (GPC) shares decreased by 4.1%. Raytheon Technologies Corp (RTX) shares dipped by 3.3%, and United Parcel Service Inc (UPS) shares increased by 13.4%.


Overall, Summit Financial's Q1 2023 holdings report indicates a significant shift in the firm's holdings, with more of a focus on value-oriented investments. Although the report does not explain the rationale behind the shift, it is possible that the firm is adjusting its investing strategy in response to market conditions. Investors can use this information to evaluate their investment strategies for the upcoming quarter and beyond. As always, it is essential to conduct proper research and analysis before making any investment decisions.

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