Investment Counselors' Q3 2022 vs. Q4 2022 13F Holding - Key Takeaways

Salem Investment Counselors Inc. recently released its 13F holdings report for Q3 2022 and Q4 2022. For investors looking for insight into the firm's investment strategy and stock choices, this report provides a detailed breakdown of Salem's holdings. In this article, we will examine the two reports and reveal the key takeaways from each.

Overall Changes

In Q4 2022, Salem Investment Counselors Inc. had a total portfolio value of $119.5 million. This represents a $9.9 million decrease from its reported Q3 2022 portfolio value of $129.4 million.

Top Gainers

Among the stocks which gained value during the period are:

- Johnson & Johnson (JNJ): JNJ's share value grew by 9.5% during the period.

- JPMorgan Chase & Co (JPM): The bank holding company's shares rose in value by 29.9%.

- Merck & Co. Inc (MRK): Merck's shares value increased by 30.4% over the quarter.

- Honeywell International Inc (HON): The company's shares value grew by 33.1%

Top Losers

Not all of Salem's picks paid off this time around. The following stocks posted losses over the period:

- Amazon.com, Inc. (AMZN): The e-commerce giant saw a decline in the value of its shares by 26.2% over the quarter.

- Palantir Technologies Inc. (PLTR): Shares value of PLTR dropped by 18.7% during the period.

- PayPal Holdings Inc. (PYPL): The digital payments company's shares declined by 19.4% over the quarter.

New Additions

During Q4 2022, the firm added a few new names to its portfolio. Among the new stocks purchased during the period is Green Brick Partners Inc. (GRBK), which Salem added 15.4% to its portfolio. Another is Ubiquiti Inc. (UI), which the firm added to its portfolio with 11% weight.

Divestments

Salem also got rid of several stocks from its portfolio in Q4. The largest divestment was from the Meta Platforms Inc (META), which Salem divested 11.9% shares. Other big divestments include Flowery Foods Inc. (FLO), which became a 0% share and dropped out, and Live Oak Bancshares Inc (LOB), down by 8.6% to 310,930 shares.

Conclusion

Overall, Salem Investment Counselors Inc. saw an increase in some of its top holdings, but also saw some loses, such as with Amazon.com Inc. and Palantir Technologies. Nonetheless, the firm added a few new stocks to its portfolio, which it calculated would be smart choices for Q4 2022. For investors who are interested in replicating this strategy, it is essential to perform fundamental analysis across the available data to create a robust stock selection strategy.