Marketfield Asset Management LLC's Q4 2022 13F filings reveal bullish outlook on energy, mining and construction industries

Marketfield Asset Management LLC is a New York-based registered investment adviser firm that provides investment management services. Recently, the firm disclosed its holdings as of the quarter ending Q4 2022 in a 13F filing with the US Securities and Exchange Commission. This report provides insight into the firm’s investments, including changes to their holdings in Q3 2022 compared to Q4 2022.

The report reveals that Marketfield Asset Management LLC has been actively investing in the energy and mining industries. The company increased its holdings in ConocoPhillips (COP) and Schlumberger Limited (SLB) by 15.3% and 48.9%, respectively. This indicates a bullish outlook for the future of the energy sector.

The firm also increased its holdings in mining companies, with gains made in Franco-Nev Corp (FNV.TO), Barrick Gold Corp (ABX.TO), and Wheaton Precious Metals Corp (WPM.TO). Franco-Nev Corp saw a 14.2% increase in holdings, while Barrick Gold Corp went up by 10.8%. Surprisingly, Wheaton Precious Metals Corp did not have any holdings in Q3 2022 but saw an increase of 52,745 shares in Q4, amounting to a value of $2.061 million.

Marketfield Asset Management LLC also made significant gains in the construction industry, with an increase in holdings in Deere & Co (DE) and D R Horton Inc (DHI) of 28.4% and 32.4%, respectively. This suggests that the company is bullish on the construction industry and predicts growth in the sector.

The report also reveals some interesting changes in holdings in Q4 2022 that were not present in Q3 2022. Notably, Spdr Ser Tr (XOP) and Cleveland-Cliffs Inc New (CLF) had no holdings in Q3 2022 but saw an entry of 25,041 shares and 208,425 shares in Q4 2022, respectively. This highlights Marketfield Asset Management LLC’s outlook on the energy and mining industries, with a particular focus on the activities of these specific companies.

In addition to the energy, mining, and construction industries, Marketfield Asset Management LLC also increased its holdings in companies in the manufacturing, rail transport, and consumer goods sectors.

Caterpillar Inc (CAT) and Rockwell Automation Inc (ROK) saw an increase in holdings of 46% and 19.7%, respectively, suggesting that the firm has a bullish outlook on the manufacturing industry. The rail transport industry experienced gains in the company’s holdings, with Norfolk Southn Corp (NSC) and Union Pac Corp (UNP) seeing an increase of 17.5% and 6.3%, respectively.

Finally, Costco Whsl Corp New (COST) and Sherwin Williams Co (SHW) saw a decrease in holdings of -3.3% and 15.9%, respectively. This suggests a bearish outlook for these companies in the consumer goods sector.

In conclusion, the Q3 2022 vs. Q4 2022 13F holdings comparison report by Marketfield Asset Management LLC suggests that the firm is bullish on the energy, mining, and construction industries, with increasing investments in companies related to these sectors. The report also highlights the firm’s interest in the manufacturing, rail transport, and consumer goods sectors. It will be interesting to see how these investments play out in the coming months and whether they will continue to rise or fall in value.