Mengis Capital Management Q4 2022 vs. Q1 2023: A Comprehensive Look at Fund Holdings Changes

Mengis Capital Management, Inc. is among the major players in the investment industry, with a reputation for shrewd investments. Every quarter, they file a 13F report with the U.S. Securities and Exchange Commission (SEC) detailing the firm's stock holdings. These filings give insight into how the firm is investing and can possibly help investors make better investment decisions.

In this article, we take a closer look at the holdings of Mengis Capital Management comparing Q4 2022 to Q1 2023. Please note that this is not financial advice, and we will not analyze the potential pros and cons of investing in these companies.

Overall, Mengis Capital Management increased the total value of its holdings from $375,768,000 in Q4 2022 to $394,355,000 in Q1 2023. This is a 4.9% increase in the total value of holdings from one quarter to the next.

The top three company holdings by value remained the same from Q4 2022 to Q1 2023. These companies include Apple Inc (AAPL), Paccar Inc (PCAR), and Microsoft Corp (MSFT). However, there were significant changes in the number of shares held, with AAPL and MSFT decreasing by 2.5% and 1.5%, respectively, while PCAR increased by a whopping 49.8%.

Other familiar companies at the top of the holdings list for Mengis Capital Management include Chevron Corp (CVX), Costco Wholesale Co (COST), and Deere & Co (DE). Interestingly, the two former companies held the same value in shares, but COST saw a decrease of 8.1% in its number of shares held, while CVX saw a slight increase of 0.1%.

Merck & Co. Inc (MRK) was among the companies whose holdings were decreased significantly, dropping 12% in shares held and 16.7% in the value of shares held. This decrease is notable because it bucks the trend of other popular pharmaceutical companies that saw an increase in share value during this time period.

Another popular investment that saw a decrease in the value of shares held was Johnson & Johnson (JNJ), with a decrease of 12.6% in the value of shares held. This is despite the company being in the news multiple times during this time period due to their COVID-19 vaccine trials and their involvement in the opioid crisis.

Among the most significant increases in the value of shares held were Medtronic PLC (MDT) and Bristol-Myers Squibb (BMY). MDT saw a 51.3% increase in the value of shares held between Q4 2022 and Q1 2023, while BMY saw an 6.6% decrease in the value of shares held. The increase in MDT's shares held could indicate Mengis Capital Management's increased focus on healthcare.

Other notable changes in holdings for Mengis Capital Management include the addition of 51,875 shares of VanEck Vectors Morningstar Wide Moat ETF (MOAT), which aims to track an index of companies that have sustainable competitive advantages. Additionally, the firm purchased 28,380 shares of Nutrien Ltd F (NTR.TO), a fertilizer company that is in the process of merging with Adelaide-based agricultural company Ruralco.

In conclusion, while Mengis Capital Management's 13F report may not be a crystal ball, it provides valuable information that can help investors make better-informed decisions. These changes in holdings give insight into the firm's strategy and the sectors in which they may be betting on future growth. It's always important to conduct thorough research and not rely solely on these reports when making investment decisions.