Grassi Investment Management Q4 2022 vs. Q1 2023: A Deep Dive into Portfolio Changes

Grassi Investment Management recently filed its 13F form for Q4 2022 and Q1 2023, detailing its holdings for the two quarters. This provides investors with an opportunity to gain insight into the New York-based investment firm's investment strategy and portfolio changes.

After analyzing the data, we found that Grassi Investment Management made significant adjustments to its holdings, particularly in the banking and biotech sectors. In this article, we'll take a closer look at the latest developments.

Banking Sector

Grassi Investment Management's banking holdings underwent a significant transformation, with holdings in some banks being sold off completely. The investment firm reduced its holdings in Bank of America (BAC) by 9.4%, selling 40200 shares in Q4 2022. However, the investment firm reacquired 444020 shares of BAC in Q1 2023, increasing its shares by a whopping 9.9%.

Wells Fargo (WFC), on the other hand, experienced an increase in shares by 17.9% between the quarters. The investment firm's Q4 2022 holdings of WFC amounted to 166,916 shares, while Q1 2023 holdings had increased to 196,220 shares.

Biotech Sector

Grassi Investment Management's biotech sector experienced some significant changes in Q1 2023. The investment firm reduced its holdings in Bristol-Myers Squibb Company (BMY) by 2.2%, selling 1700 shares. Pfizer Inc (PFE) also experienced a reduction in shares of 6.6%.

The investment firm's investments in biotech were not all about selling off shares, however. Grassi made significant investments in Workday Inc (WDAY), a cloud-based software provider, increasing its shares by a staggering 31.4%. The Q4 2022 holdings amounted to 12900 shares, while Q1 2023 holdings stood at 17000 shares.

Other Sectors

Grassi Investment Management also made some other notable investments during Q1 2023. The investment firm significantly increased its shares in Charles Schwab Corporation (SCHW), with holdings shooting up by 1054.4%. Q4 2022 holdings amounted to 3193 shares, while in Q1 2023, the investment firm's holdings stood at 36868 shares.

The firm's investment in ServiceNow Inc (NOW) also increased, with Q1 2023 holdings increasing by 43% to 25,155 shares, up from 17,637 shares in Q4 2022. Grassi furthermore increased its holdings in NVIDIA Corporation (NVDA) by 2.2%, acquiring 278,425 shares, up from 275,300 shares in Q4 2022.

Conclusion

Grassi Investment Management's Q4 2022 vs. Q1 2023 13F filings provide valuable insights into how the company shifted its investment strategy and portfolio. The report reveals notable changes, particularly in the banking and biotech sectors, with the investment firm increasing its stake in some companies and reducing its holdings in others. That said, investing in the stock market is always subject to market fluctuations, and past performance is not an indication of future performance. Investors should exercise due diligence and consider all risks before investing in the stock market.