An Inside Look at Grandfield & Dodd's Q4 2022 vs. Q1 2023 13F Holdings

The 13F filings received by the SEC every quarter reveal the holdings of some of the largest institutional investors and hedge funds in the US. These disclosures give a valuable insight into the portfolio decisions of some of the industry’s biggest players. In this article, we’ll be taking a closer look at Grandfield & Dodd, LLC’s 13F filings for Q4 2022 and Q1 2023.

Grandfield & Dodd’s 13F portfolios have a diverse mix of securities, consisting of equities, exchange-traded funds, and options. For the first quarter of 2023, the total value of the firm’s 13F securities was $935,306, a significant increase of 16.9% from the $798,427 value reported in the previous quarter.

Of the 43 securities listed in Grandfield & Dodd’s portfolio, 32 experienced value fluctuations over the quarter, while the remaining 11 saw no changes. Among the securities that saw the biggest increases in value were Analog Devices Inc (ADI), which rose by 19.7%, and Stryker Corporation (SYK), which increased by 16.5%. Similarly, Verisk Analytics Inc (VRSK) and Applied Materials Inc (AMAT) experienced significant gains, rising by 9.2% and 27.4%, respectively.

On the other hand, the securities that suffered the worst value declines over the quarter included U.S. Bancorp (USB), which saw a decrease of 16.7%, and Allstate Corp (ALL), which decreased by 18.3%. Another top performer from the previous quarter, Hormel Foods Corp (HRL), declined by 12.1%.

One of the most significant moves in Grandfield & Dodd’s Q1 2023 portfolio was the acquisition of 115,036 shares in Linde PLC (LIN), valued at $40,888. Linde is a leading supplier of industrial gases and engineering solutions, and the purchase represents an entirely new position for Grandfield & Dodd.

There were also notable changes in the fund’s stakes in existing holdings, with Microsoft Corp (MSFT) and Analog Devices Inc (ADI) both experiencing slight declines of 18.6% and 19.7%, respectively. Johnson Controls International PLC (JCI) also saw a decline of 6.1%, while both Chevron Corp (CVX) and Pfizer Inc (PFE) saw a drop of 9.2% and 20.3%, respectively.

Among the holdings that saw small value increases over the quarter were Regeneron Pharmaceuticals (REGN), up by 15.6%, and Zimmer Biomet Holdings Inc (ZBH), up by 1.1%. Coca-Cola Co. (KO) increased slightly by 1%, while Berkshire Hathaway Inc. (BRK-B) declined slightly by 0.5%.

It’s worth noting that Grandfield & Dodd have continued their investments in the information technology sector, with Microsoft Corp (MSFT), Analog Devices Inc (ADI), and Applied Materials Inc (AMAT) all among the top holdings they currently own. However, they have also diversified their portfolio by investing in Linde (LIN), Caci International Inc (CACI), and Blackbaud Inc (BLKB).

In conclusion, Grandfield & Dodd’s changes in holdings for Q1 2023 are indeed worth exploring, with new positions in Linde and existing holdings that took a hit. While these movements are significant, as with any investment analysis, it’s worth noting that past performance is not necessarily indicative of future results.