Summit Financial Group, Inc. Q1 2023 vs. Q2 2023: A Comparison of 13F Holdings

Introduction:

When it comes to the world of finance, keeping track of the investments and holdings of various funds is crucial. Understanding how these holdings change from one period to another can provide valuable insights into the preferences and strategies of investors. In this article, we will delve into the 13F holdings comparison of Summit Financial Group, Inc. for the first quarter (Q1) and the second quarter (Q2) of 2023. We will analyze the major changes in the fund's holdings and discuss the potential implications of these changes.

Analyzing the Data:

Summit Financial Group, Inc. filed its 13F report for both Q1 and Q2 of 2023, detailing the changes in holdings during this period. Let's take a closer look at some of the notable changes in the fund's portfolio:

1. Microsoft Corp (MSFT):

- In Q1 2023, Summit Financial Group held 32,210 shares of Microsoft Corp.

- By Q2 2023, the number of shares decreased to 30,745.

- The value of these shares increased from $9,286,000 to $10,469,000.

- Overall, there was a 12.7% change in holdings.

2. SPDR S&P 500 ETF Trust (SPY):

- The fund's holdings in SPDR S&P 500 ETF Trust decreased from 19,762 shares in Q1 2023 to 19,498 shares in Q2 2023.

- The value of these shares increased from $8,090,000 to $8,643,000.

- The change in holdings was approximately 6.8%.

3. Johnson & Johnson (JNJ):

- Summit Financial Group held 38,931 shares of Johnson & Johnson in Q1 2023, which slightly decreased to 38,081 shares in Q2 2023.

- The value of these shares increased from $6,034,000 to $6,303,000.

- The change in holdings was approximately 4.5%.

4. Exxon Mobil Corp (XOM):

- The fund's holdings in Exxon Mobil Corp experienced a significant change.

- In Q1 2023, Summit Financial Group held only 2,259 shares of the company.

- However, by Q2 2023, the number of shares skyrocketed to 45,359.

- The value of these shares also significantly increased from $247,000 to $4,864,000.

- Overall, there was an impressive 1,863.8% change in holdings.

5. Apple Inc (AAPL):

- The fund's holdings in Apple Inc decreased slightly from 26,140 shares in Q1 2023 to 25,709 shares in Q2 2023.

- However, the value of these shares increased from $4,310,000 to $4,986,000.

- There was a 15.7% change in holdings.

6. Procter and Gamble Co (PG):

- The fund's holdings in Procter and Gamble Co decreased from 45,422 shares in Q1 2023 to 43,595 shares in Q2 2023.

- The value of these shares also slightly decreased from $6,753,000 to $6,615,000.

- There was a 2.1% change in holdings.

Analysis and Implications:

From the data, we can observe some interesting trends and changes in Summit Financial Group's 13F holdings. The fund reduced its holdings in some companies, such as Apple Inc and Procter and Gamble Co, while increasing its stake in others, like Exxon Mobil Corp. These changes suggest a shift in the fund's investment strategy and portfolio diversification.

The increase in holdings of Exxon Mobil Corp stands out as a significant move by Summit Financial Group. This suggests a bullish outlook on the energy industry, especially considering the substantial increase in the number of shares held and the value of these shares. It also indicates a possible belief in the company's growth prospects and long-term potential.

The slight decrease in holdings of Apple Inc and Procter and Gamble Co might indicate a reallocation of resources to other sectors or companies that the fund believes will generate higher returns. Although the number of shares decreased, the increase in the value of the remaining shares suggests that the fund has confidence in the future performance of these companies.

Conclusion:

Analyzing the 13F holdings comparison of Summit Financial Group, Inc. for Q1 and Q2 of 2023 provides valuable insights into the fund's investment strategy. The increase in holdings of Exxon Mobil Corp, along with the changes in other holdings, indicates the fund's evolving perspective on different sectors and companies. As investors and market observers, keeping track of these changes can help us gain a better understanding of the fund's moves and potentially inform our own investment decisions.

Disclaimer: The information provided in this article is based on publicly available data and should not be considered financial advice. Always conduct thorough research and consult with a professional financial advisor before making any investment decisions.