Spence Asset Management's Q4 2022 vs. Q1 2023: A Look Inside the Holdings Shift

As an investor, one of the most crucial pieces of information you need is what top funds are doing with their holdings. The 13F filings are a treasure trove of data, showing which securities the funds held at the end of the quarter, what they bought and sold, and how they shifted their portfolio. In this analysis, we take a closer look at Spence Asset Management's Q4 2022 vs. Q1 2023 13F holdings comparison, which presents a snapshot of how the fund has adjusted its portfolio and what it means for the market.

One of the most notable changes was Spence Asset Management's selling of Visa Inc, Mastercard Incorporated, and Microsoft Corp, decreasing its number of shares by 27.1%, 29.5%, and 19%, respectively. Visa Inc is a financial service corporation that facilitates electronic funds transfers throughout the world. The decline of shares could indicate that the fund's managers believe the company's stock is overvalued. In contrast, the fund also disposed of its shares in Intuitive Surgical Inc, which provides robotic-assisted minimally invasive surgery. The decline in shares, -5%, is, however, considered a minor change.

The top company Spence Asset Management increased its holdings in was Prologis Inc, by a massive 65.5% to 112,094 shares, which suggests the fund has confidence in the logistics real estate market. Prologis is a global real estate investment trust that specializes in logistics facilities. In addition, the fund also increased its holdings in Aspen Technology Inc, Doximity Inc, and Medpace Holdings Inc, indicating interest in the health and technology sectors.

Spence Asset Management's portfolio also showed notable shifts in its holdings of exchange-traded funds (ETFs). For example, it increased its holdings in the SPDR S&P 600 Small Cap ETF and Invesco QQQ Trust by 81.6% and 22.1%, respectively. On the other hand, the fund sold all of its shares in the iShares MSCI Emerging Markets ETF and iShares Core U.S. Aggregate Bond ETF.

The holdings changes made by Spence Asset Management in Q4 2022 vs. Q1 2023 indicate that the fund is not afraid to make bold moves in its portfolio. It shows that the fund has confidence in the logistics, tech, and health sectors, while being cautious of the finance, market, and bond markets.

In conclusion, reviewing the 13F filings of top funds like Spence Asset Management is an essential part of staying up-to-date with the trends and shifts in the stock market. By analyzing these reports, investors can gain insight into what's happening within the market and make strategic investment decisions.