Q3 to Q4 2022: Icon Advisers' striking moves in holdings

Icon Advisers Inc/Co has just revealed its Q3 2022 and Q4 2022 13F holdings. Compared to the previous quarter, the investments in some sectors and companies have been increased or decreased intensely. For instance, the fund reduced its holding in Mastercard significantly, slashed some shares of Trinity Inds but acquired more of Nuveen Inter Duration Mun Te. In this blog, we'll explore these changes and the reasons behind the moves.

Starting with the biggest change, Icon Advisers has sold 8,700 shares in Mastercard, reducing its investment by 5.6% to 29,480 shares. The value of the investment has also gone down from $10.9 million to $10.25 million. The move seems sensible given the recent market trends and the falling revenues of Mastercard. Besides, the company’s unnecessary purchases across different domains have raised some concerns among investors.

Conversely, the fund has increased its position in Nuveen Inter Duration Mun Te by an astounding 130.7%. Icon Advisers purchased 345,075 more shares in the company, which totaled to 638,682 shares in Q4 2022. The value of shares also soared from $3.6 million to $8.4 million. The reason behind the purchase may be the company’s impressive performance during the quarter. Furthermore, the demand for municipal bonds is considerable as it offers benefits tax-free.

Another major change occurred in Trinity Inds, where the Icon Advisors lost 100,000 shares or 22.3% of their position. The holding went down from 438,403 shares in Q3 to 338,403 shares in Q4. The decline in the share price might have compelled the fund to sell its shares, and the company's revenue reductions amid the pandemic could be another possible reason.

Moreover, Icon Advisers decreased its position in LPL Finl Hldgs by 1.1%. The fund sold some of its shares, and the holding stuck at 45,632 shares. Also, the investment's value dipped slightly from $9.97 million to $9.86 million.

Moving ahead, a considerable change occurred in Elevance Health Inc. Icon Advisers purchased 4,500 more shares, which is an increase of 67.8%. The holding surged to 13,600 shares in Q4 2022, compared to 9,100 shares in Q3 2022. The investment's value also increased from $4.16 million to $6.97 million. The investment in Elevence Health might stem from the initiative of Icon Advisers to explore alternative investment opportunities and develop a diversified portfolio.

Meanwhile, the company made two significant reductions in their shareholdings. Icon Advisers sold 4,090 shares of Nike and 3,124 shares of Plains All Amern Pipeline L. The sales reduced the positions by 6.4% and 2.7%, respectively. However, the company's decisions don't seem logical as both are profitable companies.

Another company that Icon Advisers reduced its investment was Lockheed Martin Corp. The fund sold all 1,000 of its shares and completely removed Lockheed from their holdings.

Among the newly added companies are Ecolpetrol S-A and Ranger Oil Corporation. The company bought 400,000 shares of Ecolpetrol and 107,000 shares of Ranger Oil. While the former is a well-performing energy company, the latter is a recent player in the petroleum and natural gas industry.

To sum up, the Q3 to Q4 comparison of Icon Advisers' 13F holdings highlights its impressive performances and its decision to invest in some booming sectors like the municipality bonds. At the same time, it abandoned stakes in some well-performing companies like Lockheed Martin Corp. In the uncertain world of finance, these changes offer some exciting opportunities and feature the firm's investment philosophy. Investors should keep an eye on the company's future moves with the hopes of following their tracks or use them to judge a company's performance.