Making Sense of Ferguson Wellman Capital's Q4 2022 vs. Q1 2023 13F Holdings Data

Ferguson Wellman Capital Management, Inc recently released its 13F holdings data for Q4 2022 and Q1 2023. The report provides an insight into the fund's top holdings and the changes that have taken place over the period. In this article, we'll explore the data in detail and try to make sense of the changes in holdings.

Microsoft Retains Lead Over Apple and Alphabet Inc.

With 946,447 shares, Microsoft Corporation (MSFT) held the top position in Ferguson Wellman Capital's portfolio at the end of Q1 2023, only a slight increase from their Q4 2022 report. Apple Inc. (AAPL) and Alphabet Inc. Class A (GOOGL) followed in second and third place with 1,457,346 and 1,432,875 shares, respectively. Despite making a 34.4% increase in its holdings of Apple Inc. (AAPL), Ferguson Wellman Capital still has a more significant connection to Microsoft Corporation (MSFT) with a portfolio value of $272,860 compared to Apple's $240,316 and Alphabet Inc's $148,632.

Procter & Gamble, JPMorgan Chase and Co, and AbbVie Inc. Moved Up in Rankings

Through Q4 2022 to Q1 2023, Ferguson Wellman Capital made slight investments in the Pharmaceutical and Banking sectors and recognized Procter and Gamble (PG), JPMorgan Chase and Co (JPM), and AbbVie Inc. (ABBV) as potential benefactors. After increasing their position in Procter & Gamble (PG) by 12.3%, JPMorgan Chase and Co (JPM) by 1.3%, and simplifying their holdings in AbbVie Inc. (ABBV), the three companies moved up in the rankings to become the fourth, fifth, and sixth stocks in the portfolio.

Energy, Telecom, and Retail Industries Struggle

The report indicates that some industries struggled during the period, and the portfolio's position in the energy, telecom, and retail industries decreased. The biggest decliners were UnitedHealth Group (UNH) with an overall decrease of -17.3% in holdings and The TJX Companies Inc (TJX) with a decline of -12.4% in shares held.

Amazon and Comcast's Rise

On a positive note, Amazon.com (AMZN) and Comcast Cl A (CMCSA) had a significant rise in their holdings. Comcast rose 3,180.9% to 1,086,128 shares compared to just 35,894 shares in Q4 2022. Similarly, Amazon.com had an increase of 89.4% compared to the previous period.

Final Thoughts

In summary, the report reveals that Ferguson Wellman Capital has a significant portfolio in the tech industry, with Microsoft Corporation (MSFT), Apple Inc. (AAPL), and Alphabet Inc. Class A (GOOGL) continuing to hold the top three positions. The portfolio diversified with slight investments in the Banking and Pharmaceutical sectors while minimizing its holdings in the energy, telecom, and retail industries. Ultimately, with only a few noteworthy gains and losses throughout the quarter, the data shows the fund's more cautious approach in assessing which industry sectors will be most valuable during this period of market volatility.