The Rise and Fall of Tradewinds Capital Management: Q4 2022 vs. Q1 2023 Holdings

Tradewinds Capital Management, LLC is a well-known fund management firm that handles billions of dollars in assets. Every quarter, like other fund managers, they are required by the SEC to file a 13F form disclosing their portfolio holdings. While these filings may seem like monotonous paperwork containing uninteresting data, the information they reveal can be valuable to investors and analysts who track these firms.

In Q4 of 2022, Tradewinds had shares in 61 different companies, with a total value of over $221 million. In Q1 of 2023, they had shares in just 58 companies, with a total value of $174 million. This indicates that Tradewinds made some significant changes to its portfolio over the period, including selling off some of its holdings.

Of the holdings that remained, the top five in Q1 of 2023 by value were:

- SPTL

- EWG

- EWU

- DIS

- AMZN

One significant change observed was that in Q4 of 2022, Tradewinds had no shares in ISHARES TR's ICVT or IEUR funds. In Q1 of 2023, they acquired 476,796 shares of ICVT and 558,364 shares of the latter. This acquisition made IEUR Tradewinds Capital Management's fourth-largest holding in Q1 of 2023.

Another notable change to their portfolio was their acquisition of Super Micro Computer Inc (SMCI), where they increased their share from 1,300 in Q4 of 2022 to 2,376 in Q1 of 2023, marking a 137.2% increment. Although SMCI only accounted for $106,000 in Q1 of 2023, the sudden increase in shares by Tradewinds Capital Management suggests that they expect the company to perform well.

In contrast, there were some specific holdings where Tradewinds significantly reduced its stake in Q1 of 2023. The biggest decline was in SPDR Ser Tr's FM fund, where Tradewinds had no shares in Q1 of 2023 compared to the 1,080,220 shares held in Q4 of 2022. Another example is the ISHARES INC's EWW fund, whose shareholding fell from 557,777 in Q4 of 2022 to 26,996 in Q1 of 2023, a decline of 94.2%.

It is essential to note that experts and analysts do not necessarily make investment decisions based on just 13F filings. There could be a variety of reasons why a fund may increase or decrease its stake in a company. For example, changes in a company's performance, the overall market, or specific events could be factors that change the value of a stock. Fund managers, therefore, need to have multiple sources of information to make informed investment decisions.

In conclusion, Tradewinds Capital Management, LLC, made some significant changes to its portfolio holdings in Q4 of 2022 and Q1 of 2023. This included the addition of some significant positions and the selling off of some stakes. The fluctuations in their holdings suggest that the firm made some significant investment decisions based on their assessment of the market and individual companies. Investors, analysts, traders, and other market participants should continue to track Tradewinds and other fund managers' SEC filings to obtain valuable information on future trading activities.