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Putnam Investments LLC Q3 2022 vs. Q4 2022: A Comprehensive Look at the Top 50 Holdings

Ava Hoppe | 10 May, 2023

Investment firms are mandated to disclose their stock holdings to the SEC through Form 13F filings, which are made public quarterly. These filings reveal vital information on the holdings of these firms, which in turn provides insight into their investment strategies. Recently, Putnam Investments LLC filed their Q3 2022 and Q4 2022 Form 13F holdings, indicating significant changes in some of their top holdings.

In this article, we provide a comprehensive look at Putnam Investments LLC's top 50 holdings, highlighting changes made in Q3 2022 and Q4 2022. Additionally, we provide context on the performance of the top 10 holdings and how they align with current market trends.

Before we dive into the details of Putnam's holdings, it's worth noting that the firm's portfolio is valued at over $31 billion, with the top 50 holdings accounting for over 60% of the total portfolio value. This highlights the importance of closely evaluating the top holdings for any changes.

In Q4 2022, Putnam increased their position in Microsoft (MSFT) and Bank of America (BAC) by 4.1% and 18.3%, respectively. This move is unsurprising, especially for Microsoft as the tech giant has continued to perform well throughout the COVID-19 pandemic. The company reported revenue of $45.3 billion in Q2 2022, representing an increase of 22% YoY. Similarly, Bank of America has made notable gains in the financial sector as the US economy continues to recover.

Putnam decreased their holdings in Amazon (AMZN) and AstraZeneca (AZN) by 34.9% and 25.3%, respectively. The reduction in their Amazon position could be attributable to the company's slight underperformance in Q4 2022, with net sales increasing by 16% YoY compared to 44% YoY in Q3 2022. As for AstraZeneca, the pharma company has seen their stock struggle due to supply-chain problems, leading to a 7.5% drop in their stock price over Q4 2022.

WalMart (WMT) and Freeport-McMoRan (FCX) were two companies that saw an increase in their holdings, with WMT shares rising by 11.1% and FCX by 49%. These sectors have been top performers in Q4 2022, with consumer spending expected to rise significantly due to the current holiday season, benefitting retailers such as WalMart. Additionally, surging copper prices have been the main driver behind Freeport-McMoRan's impressive performance.

The top-performing stock in the Putnam Investments LLC portfolio was Goldman Sachs Group (GS), with a 22.1% increase in their position valued at $771.2 million. Goldman Sachs is a top-performing stock in the financial sector due to a stable and robust economy, which has seen the company increase revenue in 2021 by 32% compared to 2020.

Other notable performers in the top 10 holdings include Charles Schwab Corp/The (SCHW), Union Pacific Corp (UNP), and Raytheon Technologies Corp (RTX). UNP reported record-breaking Q3 2022 earnings, with a 29% YoY increase in net income, while RTX is benefiting from strong demand in the defense sector due to geopolitical tensions. As for Charles Schwab, analysts predict that the firm will continue to ride the high demand for investment services in the US.

In conclusion, Putnam Investments LLC has adjusted its top 50 holdings to reflect market trends while maintaining a healthy and diversified portfolio. While some positions were reduced, others were increased to capitalize on current market opportunities. Investors can look to Putnam's portfolio changes for hints on where the market may be heading in short to medium-term.

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