Investment Analysis: Morris Capital Advisors Q2 2022 vs Q3 2022 Holdings Comparison
Ava Hoppe | 14 May, 2023
Morris Capital Advisors, LLC recently filed their 13F forms disclosing their holdings for Q2 2022 and Q3 2022. These forms offer a glimpse into the investment strategies of prominent hedge funds, but also spark deeper analysis into the movements of individual stocks and the market at large.
In the second quarter of 2022, Morris Capital held 35 stocks in its portfolio with a total value of $76.07 million. During the third quarter of the year, the number of stocks in its portfolio remained the same but the overall portfolio value decreased slightly to $73.88 million.
Let's take a closer look at some of the changes in Morris Capital Advisors' portfolio over the summer.
Technology Remains a Key Focus
Morris Capital's largest holding in Q2 and Q3 of 2022 was (unsurprisingly) in the technology sector. Apple Inc (AAPL) remained the hedge fund's largest holding, with 79846 shares, which were reduced to 78861 in Q3. However, the value of these shares only slightly decreased from $10.917 million in Q2 to $10.899 million in Q3. Apple's stock saw a slight decline of 0.2% during this period.
Microsoft Corporation (MSFT) was Morris Capital's second-largest holding, with a Q2 value of $6.275 million, decreasing to $5.635 million with a change percentage of -10.2%. ON Semiconductor Co. (ON) was the company with the largest change in holdings. Morris Capital added 53266 shares, increasing the value of its portfolio from $2.68 million to $3.285 million (+22.6%).
Pharmaceuticals and Biotechnology
The pharmaceutical and biotechnology sectors were represented in Morris Capital's Q2 2022 holdings, with AbbVie Inc. (ABBV) and Bristol-Myers Squibb Co (BMY) being notable examples. However, Morris Capital Advisors decided to reduce its holding in these two companies by -13.3% and -8.8% respectively, in the third quarter. Regeneron Pharmaceuticals Inc. (REGN) was Morris Capital's third-largest holding during this time, with an increase of 4.3% in its holdings without any significant change in value.
Consumer Discretionary and Energy
Dollar Tree Inc. (DLTR), a consumer discretionary stock, was the hedge fund's largest holding in this sector in both Q2 and Q3 2022. Morris Capital added 18783 shares in Q2, but reduced this number to 19023 in Q3. The company's value decreased from $2.965 million in Q2 to $2.556 million in Q3 (-13.8%). Meanwhile, Occidental Petroleum Corp (OXY) and Valero Energy Corp (VLO) were the only two companies in the energy sector present in Morris Capital's holdings. Occidental Petroleum Corp was added to the portfolio with an increase of 3.4% in the number of shares held.
Conclusion:
Overall, the Q2 vs Q3 2022 Holdings Comparison of Morris Capital Advisors, LLC shows stability and caution in trading, with their largest holdings remaining the largest. This analysis also shows remote changes and downsizes in riskier stocks that are more susceptible to market volatility. While some stocks were added to the portfolio, the number has not increased, marking a more cautious investment strategy.
It is important to note that this analysis only covers a small sample of Morris Capital Advisor's portfolio. However, it provides a valuable insight into one of the hedge funds' investment strategies and may serve as a useful starting point for investors looking to diversify their portfolios.
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