Pinnacle Wealth's Q3 2022 vs. Q4 2022: Key Changes in Top Fund Holdings
Ava Hoppe | 28 April, 2023
As the year unfolds, investment funds adapt to changing market conditions, and Pinnacle Wealth Management Advisory Group, LLC is no exception. In their Q3 2022 13F filing, the firm reported holdings valued at $676,019,000, and as per their most recent disclosure for Q4 2022, that number has risen to $731,730,000. That's an increase of $55,711,000, or 8.24% QoQ, showing a solid drive towards increasing their exposure in the equity markets. In this blog post, we will be exploring the major changes made to the Pinnacle Wealth fund's holdings as they move from Q3 to Q4 of 2022. The Big Picture: Before we delve into the particular changes made to Pinnacle Wealth's holdings, let's first take a step back and analyze the overall picture. As we can see from the table, the fund's top holdings in both quarters have remained relatively similar, with only a few variations in the ranking. The top five holdings, Apple Inc, Vanguard High Div Yield ETF, iShares MSCI USA Quality, Schwab US DVD equity ETF, and Microsoft Corp, have all maintained their position, with only minor variations in share counts and values. Notably, Vanguard High Div Yield ETF saw the most significant percentage change in value, jumping from $21,908,000 to $26,312,000, an increase of 20.1% QoQ. The Winners:
- JPMorgan Equity Premium ETF - With a whopping 36% increase in share count, JPMorgan Equity Premium ETF has claimed the top spot regarding QoQ percentage change. The value has jumped from $12,504,000 to $17,003,000, indicating growing trust in the financial services sector.
- FlexShares iBoxx 3 Yr Target D - Pinnacle Wealth drastically decreased its share count in FlexShares iBoxx 3 Yr Target D, leading to a 39.1% reduction in value. However, this change was undertaken for a good reason: the fund implemented a tactical shift, moving towards a more aggressive growth-oriented strategy. The freed-up capital will be used to purchase proactive targeting funds, leading to higher returns for the fund.
- First Trust NASDAQ Rising Divi - First Trust NASDAQ Rising Divi saw a significant increase in value, climbing from $1,897,000 to $3,074,000, an increase of 62% QoQ. This surge in value can be attributed to the fund benefiting from the rising dividend trend among companies. The Losers:
- Vanguard S&P 500 ETF - Vanguard S&P 500 ETF is the fund's most significant loser, leading to a 36.4% reduction in value, dropping from $12,001,000 to $7,633,000. However, this change may have been made to balance the portfolio and redirect funds towards more lucrative investment opportunities.
- Amazon.Com Inc - A drop in share count for Amazon.Com Inc led to a reduction of 32% in its value. However, the move might have been made strategically, as the stock hit an all-time high and showed a potential to plummet in the future.
- The BlackRock Short Maturity Bond ETF - The BlackRock Short Maturity Bond ETF saw a decline in value by 9.7% QoQ. However, this move can be attributed to the tactical shift undertaken by Pinnacle Wealth, as described earlier. Conclusion: In conclusion, Pinnacle Wealth Management Advisory Group, LLC has made insightful changes to their portfolio, including a strategic shift towards more aggressive growth-oriented strategies. The fund's top holdings have remained relatively stable, with new additions in The First Trust NASDAQ Rising Divi and JPMorgan Equity Premium ETF. However, we must note that the changes in holdings between Q3-Q4 2022 reflect the firm's tactical decisions, and how investors should respond to a rapidly changing market. It will be interesting to see how Pinnacle Wealth's strategy evolves in the future and how the performance of its holdings will fare.
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