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Summit Creek Advisors LLC's Q4 Portfolio Indicates Shift Towards Diversification

Ava Hoppe | 20 April, 2023

Summit Creek Advisors LLC Q3 2022 vs. Q4 2022 13F Holdings Comparison

The third quarter of 2022 has witnessed a significant shift in the Summit Creek Advisors LLC's holdings compared to the fourth quarter of the same year. The financial company has made considerable changes to its stock portfolio by adding new stocks, getting rid of some, and increasing or decreasing shares in others. Let us have a closer look at these changes and what they could mean for Summit Creek Advisors LLC.

First up is the holding of Box Inc (BOX). Summit Creek Advisors LLC added 62,567 shares of BOX to its portfolio, increasing the value of its shares from $21,525,000 in Q3 to $29,421,000 in Q4, which is a 36.7% increase compared to the previous quarter. Similarly, the company also increased its shares in Bio-Techne Corp (TECH) by a staggering 201,420 shares or 27.2% bringing the total shares to 261,412 in Q4, from 59,992 in Q3.

On the other hand, the company reduced its holdings in 10 of the stocks in its portfolio. Healthequity (HQY) saw a massive drop of 27.7% from 28,7411 shares in Q3 to 226,415 in Q4, followed closely by Paylocity Holdings (PCTY), which saw a 34.5% drop in shares, bringing the total number of shares to 70,617. Qualys Inc. (QLYS) was the hardest hit with a significant drop in shares by 19.2%. The company brought down its shares from 149,360 in Q3 to 149,799 in Q4.

While some stocks saw a decrease in shares, others had no changes whatsoever. Cvent Inc. (CVT), Snap One, Inc. (SNPO), and Grocery Outlet Holding Corp (GO) did not see any changes in the number of shares held by the company between the third and fourth quarters of the year. However, while the number of shares held by Summit Creek Advisors LLC was the same, the value of these shares changed. Snap One, Inc. dropped by 26.9% in value, while CVT and GO shares increased by 21.4% and 3658, respectively.

A few stocks were completely removed from Summit Creek Advisors LLC's portfolio in Q4. OptimizeRx Corp. (OPRX), Docimity, Inc. (DOCS), and Advanced Drainage Systems (WMS) were removed entirely from the portfolio, and as a result, their value became zero. Moreover, the company acquired new stocks to its portfolio in Q4, which includes some of the biggest gainers of the quarter. ThoughtWorks Holding (TWKS) saw a huge jump in demand, rising by 90.5%, which brought the total number of shares to 749,109. Similarly, Montrose Environmental Group (MEG) saw growth of 32.1% in the number of shares.

Overall, Summit Creek Advisors LLC's Q4 portfolio indicates a shift towards diversification, with the company acquiring new stocks while cutting back on old ones. The success of several new stocks such as TWKS and MEG could signal a trend towards investing in technology startups and environmental companies.

It is important to note that these actions may not indicate a complete withdrawal from these companies or a lack of faith in their future prospects. These shifts in holdings can be an indicator of a change in the company's investment strategy or simply an adjustment in their portfolio. Regardless of the reasons behind these changes, these shifts in the Summitt Creek Advisors LLC's holdings highlight the dynamism of the financial market and underscore the importance of monitoring a firm's 13F reports. These reports can reveal a lot about a financial company's investment strategy, its risk mitigation strategy, and its outlook for the future.

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