Investing Lessons: Bruce & Co., Inc. Q3 2022 vs. Q4 2022 13F Holdings Comparison

Bruce & Co., Inc. is a reputable investment fund that has consistently recorded impressive returns for its investors. As with most investment firms, Bruce & Co., Inc. is required to file a report of its holdings with the Securities and Exchange Commission (SEC) each quarter. These reports are known as 13F filings, and they provide a detailed overview of the investment firms’ portfolio of securities. In this article, we will review some of the changes in holdings between Bruce & Co., Inc. Q3 2022 vs. Q4 2022 13F filings and what lessons investors can glean from these changes.

One noteworthy change is Bruce & Co., Inc.'s new position in Uhaul B. The firm acquired 660,530 shares of the company in Q4 2022, up from no shares in Q3 2022. This move shows that despite the current challenges faced by the services industry due to the pandemic, Bruce & Co., Inc. still has confidence in the future of Uhaul B. The storage and moving solutions company has been able to pivot to stay relevant during the pandemic, which could be part of the reason for Bruce & Co., Inc.’s interest.

On the other hand, the firm has reduced its holdings in Allstate, lowering its shares from 229,300 in Q3 2022 to 178,300 in Q4 2022. This reduction can be interpreted as a lack of confidence in Allstate’s ability to generate desirable returns relative to other investment opportunities in the market. The 15.3% drop in value from $28,554,000 to $24,177,000 further reinforces this assertion.

Another key change observed is the increase in holdings of AT&T and AbbVie, both of which are considered as blue-chip dividend-paying stocks. Bruce & Co., Inc. added 100,000 shares of AT&T and 21,000 shares of AbbVie in Q4 2022. The firm now owns 1,132,000 shares of AT&T and 223,500 shares of AbbVie. The decision to increase the firm's position can be seen as a testament to its confidence in these stocks' future growth and income potential.

Bruce & Co., Inc.'s reduced holdings in Supernus is another critical change highlighted in the Q4 2022 13F filing. The firm owns 30,248 fewer shares compared to Q3 2022. But what is even more notable is the 20.5% drop in value from $4,133,000 in Q3 2022 to $3,285,000 in Q4 2022. This move shows that the firm may have revised its expectations for the biopharmaceutical company, either due to recent company-specific issues or overall changes in the biotech sector.

Interestingly, Bruce & Co., Inc. maintained its position in Paratek, including its investment in the newly created Paratek spinoff. The change can be analyzed from two angles. On the one hand, the firm’s decision to invest in the Paratek spinoff is testament to the company's growth potential, given the 1.4% increase in value from $3,700,000 in Q3 2022 to $3,750,000 in Q4 2022. On the other hand, the 27.2% drop in value for Paratek in Q4 2022 could be interpreted as a reduction of the firm's willingness to give new funds to the company, preferring to maintain a more conservative approach towards its investment.

In conclusion, the Bruce & Co., Inc. Q3 2022 vs. Q4 2022 13F filing highlights several critical changes in holdings. While some of these changes may reflect current market circumstances, others indicate the investment firm's altered investment philosophy. For investors, the report provides some vital lessons on monitoring changes in investment patterns, which could inform their investment strategy.