Investment firm Connors Investor Services' Q3 vs. Q4 2022 Holdings Changes Analysis

Investment firms regularly file a 13F form with the SEC, which discloses their holdings of stocks that trade on US exchanges. This information can be used to track changes in holdings and get an insight into investor sentiment and strategy. In this article, we will analyze Connors Investor Services' Q3 2022 vs. Q4 2022 holdings comparison, based on publicly available 13F data.

Let's start by examining the top holdings of Connors Investor Services as of Q4 2022. According to the data, the firm's largest holding is in the SPDR S&P 500 Index ETF (SPY), with 121,643 shares worth $46.5 million. This represents a slight increase of 2% from Q3 2022 when the firm held 119,613 shares worth $42.7 million. The increase in holdings of SPY suggests that Connors Investor Services has a bullish outlook on the broader US equity market, which is consistent with the trend among many other institutional investors.

Another significant holding of Connors Investor Services is in Pepsico (PEP), with 214,281 shares worth $38.7 million. This represents a -1.3% decrease in the number of shares held compared to Q3 2022, when the firm held 217,083 shares worth $35.4 million. The decrease in holdings of PEP may suggest that Connors Investor Services is moderating its bullishness on the consumer staples sector, which has underperformed the broader market in recent months.

One of the more notable changes in holdings from Q3 to Q4 2022 is in Abbott Laboratories (ABT). Connors Investor Services increased its holdings in ABT by 12.5%, from 175,875 shares worth $17.0 million to 174,346 shares worth $19.1 million. The increase in holdings of ABT is consistent with the broader trend in the healthcare sector, which has been one of the best-performing sectors in 2021.

On the other hand, the firm reduced its holdings in both Apple (AAPL) and Microsoft (MSFT) by -7.2% and -1.2%, respectively, suggesting a slightly bearish outlook on these two tech giants.

Looking at the sector-level changes in holdings, Connors Investor Services increased its holdings in Industrials, Consumer Discretionary, and Healthcare sectors, while reducing its holdings in Information Technology and Communication Services sectors. The increase in holdings in the Healthcare and Industrial sectors can be explained by the strong performance of companies in these sectors, which have benefited from the vaccine rollout and the ongoing economic recovery.

In summary, Connors Investor Services' Q3 vs. Q4 2022 holdings comparison suggests a slightly bullish outlook on the US equity market, with an increased focus on the healthcare and industrial sectors. However, the slight decrease in holdings in some of the top tech companies suggests that the firm is also showing signs of moderation in its bullishness on the sector that has been the primary driver of market gains over the past few years.