A Quarter Over Quarter Analysis of Pinnacle Associates' Portfolio Changes

Pinnacle Associates Ltd, a prominent investment management firm, recently released its Q3 2022 and Q4 2022 13F holdings. The company manages over $30 billion in assets and has a diversified portfolio of publicly traded companies. In this blog post, we will analyze the changes in the holdings of Pinnacle Associates from Q3 2022 to Q4 2022.

One of the most significant changes in Pinnacle Associates' portfolio is the increase in the value of its holdings. From Q3 2022 to Q4 2022, the value of its holdings increased from $1.9 billion to $2.1 billion, which is a significant increase of 8%. This increase in value is mainly due to the increase in the value of holdings of some of the portfolio companies. Here are some of the portfolio holdings that contributed to this increase in value:

- Johnson & Johnson (JNJ): JNJ is a multinational company that produces medical devices, pharmaceuticals, and consumer goods. The value of Pinnacle Associates' holdings in JNJ increased from $211 million to $228 million, contributing to the increase in the value of its portfolio.

- JPMorgan Chase & Co. (JPM): JPM is a multinational investment bank and financial services company. The value of Pinnacle Associates' holdings in JPM increased from $43 million to $57 million, which contributed significantly to the increase in the value of its portfolio.

- Merck & Co. Inc. (MRK): MRK is an American multinational pharmaceutical company. The value of Pinnacle Associates' holdings in MRK increased from $40 million to $51 million, which also contributed to the increase in the value of its portfolio.

However, there were some holdings that declined in value, leading to a decrease in the overall portfolio value. One notable example is Apple Inc. (AAPL), which saw a decline in the value of its holdings by 3.9%. The decline was due to a decrease in the number of shares held by Pinnacle Associates, from 1.2 million to 1.1 million.

Another significant change in Pinnacle Associates' portfolio was the decrease in the number of shares held of some companies. Microsoft Corp. (MSFT) saw a reduction in the number of shares held by 8%, from 506,186 to 467,926. Similarly, SPDR S&P 500 ETF Trust (SPY) and Vanguard Index FDS (VB) saw a 3% and 6% reduction in shares held, respectively.

On the other hand, some portfolio companies saw an increase in the number of shares held by Pinnacle Associates. Regeneron Pharmaceuticals (REGN) saw an increase in the number of shares held by 4%, from 73,517 to 72,990. Vanguard Whitehall FDS (VYM) and Boyd Gaming Corp (BYD) also saw an increase in the number of shares held by 6% and 1.9%, respectively.

In conclusion, the Q3 2022 vs. Q4 2022 comparison of Pinnacle Associates' 13F holdings reveals that the company has made some significant changes in its portfolio. While some holdings have increased in value and the number of shares, others have seen a decline. These changes reflect Pinnacle Associates' investment strategy and its outlook on the companies it invests in. Investors can use this information to gain insights into the investment decisions made by Pinnacle Associates and to make informed investment decisions.