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Summit Global Investments Q1 2023 vs. Q2 2023 13F Holdings Comparison

Ava Hoppe | 25 July, 2023

The 13F filings for Q1 2023 and Q2 2023 have revealed some interesting changes in holdings by Summit Global Investments. In this blog post, we will explore the shifts in their portfolio and analyze the implications for investors.

Microsoft Corporation Emerges as a Strong Contender

One of the notable changes in Summit Global Investments' holdings is the increased position in Microsoft Corporation (MSFT). In Q1 2023, they held 93,177 shares, but this number expanded to 112,661 shares in Q2 2023. With a change percentage of 42.8%, this indicates the fund's growing confidence in the tech giant. Microsoft has been a solid performer in recent years, and Summit Global Investments seems to have recognized its potential for further growth.

Tech Stocks Dominate the Portfolio

Aside from Microsoft, other tech stocks held by Summit Global Investments have also witnessed significant changes. In particular, their position in Alphabet Inc (GOOGL) has seen a staggering increase from 60,018 shares in Q1 2023 to 143,997 shares in Q2 2023. This represents a change of 176.8% and reflects the fund's bullish outlook on the technology sector.

Another tech stock that caught the attention of Summit Global Investments is Electronic Arts Inc (EA). The firm increased its holdings from 91,872 shares in Q1 2023 to 129,310 shares in Q2 2023, indicating a change of 51.6%. As the gaming industry continues to attract more consumers, it's no surprise that Summit Global Investments sees an opportunity for growth in this sector.

Healthcare and Pharmaceutical Stocks Experience Mixed Results

While the technology sector has seen a lot of positive changes, the healthcare and pharmaceutical stocks in Summit Global Investments' portfolio have had mixed performances. Merck & Co Inc (MRK) and UnitedHealth Group Inc (UNH) both experienced slight increases in their shareholdings, with a change of 5.3% and 3271.6% respectively. However, Vertex Pharmaceuticals Inc (VRTX) witnessed a decrease of 16.4%, indicating a slight loss of confidence in this particular stock.

Financial Stocks Continue to Shine

Summit Global Investments' holdings in financial stocks have mostly performed well. Progressive Corp (PGR) and Cisco Systems Inc (CSCO) saw increases of 24.3% and 28.1% respectively, suggesting that the fund is optimistic about the future prospects of these companies. Additionally, Prudential Financial Inc (PRU) experienced a substantial jump in holdings, with a change of 309.2%. This indicates a significant increase in confidence and highlights the fund's belief in the financial sector's potential for growth.

Conclusion

Summit Global Investments' Q1 2023 vs. Q2 2023 13F holdings comparison demonstrates the fund's focus on tech and financial stocks. Their increased positions in Microsoft Corporation, Alphabet Inc, and Electronic Arts Inc suggest a strong bullish sentiment towards the technology sector. While healthcare and pharmaceutical stocks have experienced mixed results, financial stocks have performed well. As always, it's important for investors to conduct their own research and consider their individual investment goals and risk tolerance before making any investment decisions.

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