Kennedy Capital Management LLC Q3 2022 vs Q4 2022: A Look at the Changes in Top Stock Holdings

The latest 13F filings by Kennedy Capital Management LLC, a Missouri-based institutional investment firm with over $4 billion AUM, shed some light on the changes in their top stock holdings over the past quarter. In this article, we take a closer look at some of the notable changes and what they may suggest about the firm's investment strategy.

HALOZYME THERAPEUTICS, INC. (HALO)

One of the most significant changes in Kennedy Capital Management's holdings is a 28% decrease in shares of Halozyne Therapeutics, Inc. (HALO). The biopharmaceutical company focuses on developing novel therapies that target the extracellular matrix for the treatment of cancer, diabetes, and other diseases.

Kennedy Capital's Q3 2022 filings show that the firm held 645,773 shares of HALO, valued at $25.5 million. This number dropped to 574,194 shares valued at $32.7 million in Q4 2022, representing a 28% decline in shares.

FIRST INTERSTATE BANCSYSTEM, INC. CLASS A (FIBK)

Another notable change in KCM's 13F filings is a 6.9% decrease in shares of First Interstate Bancsystem, Inc. Class A (FIBK), a financial services company that provides banking services to individuals and businesses in the western United States.

At the end of Q3 2022, Kennedy Capital held 852,897 shares of FIBK, valued at $34.4 million. This number dropped to 828,868 shares valued at $32.0 million in Q4 2022, indicating a 6.9% decline in shares.

HOME BANCSHARES, INC. (HOMB)

On the other hand, KCM increased its position in Home Bancshares, Inc. (HOMB) by 40% in Q4 2022. HOMB is a financial holding company that provides commercial and retail banking, mortgage lending, and insurance services to businesses and consumers.

Kennedy Capital held 988,100 shares of HOMB, valued at $22.2 million, in Q3 2022, and this increased to 1,366,603 shares valued at $31.1 million in Q4 2022, indicating a 40% increase in shares.

NATIONAL STORAGE AFFILIATES TRUST (NSA)

One of the biggest losses for Kennedy Capital is National Storage Affiliates Trust (NSA), a real estate investment trust that owns and operates self-storage facilities across the United States. KCM reduced its stake in NSA by 17.9% in Q4 2022.

In Q3 2022, KCM held 601,679 shares of NSA, valued at $25.0 million. This number dropped to 568,518 shares valued at $20.5 million in Q4 2022, indicating a 17.9% decrease in shares.

CONCLUSION

Overall, Kennedy Capital Management LLC made some significant changes to its top holdings in the latest 13F filings. The increase in shares of Home Bancshares, Inc. (HOMB) and the decrease in shares of National Storage Affiliates Trust (NSA) are notable moves that suggest the firm is bullish on certain sectors while divesting of others. It remains to be seen how these changes will play out in the long run, but investors should keep an eye on KCM's next 13F filings for any further clues about their investment strategy.