Water Asset Management LLC adjusts investment strategy in Q3 and Q4 2019 with changes to top holdings

Water Asset Management LLC is a specialized investment firm that primarily focuses on water-related investments, including water rights, treatment, and distribution infrastructure companies. The company recently filed its 13F report with the Securities and Exchange Commission for the third and fourth quarters of 2019. These filings give a detailed view of the company's holdings and any changes made to its investments during that period.

The report reveals that Water Asset Management LLC has made some significant changes to its investment portfolio. During Q3 2019, the firm owned 16 stocks with a total value of $102.5 million, while in the following quarter, it owned 15 stocks worth $89.4 million. This is a reduction of about 12.8% in the number of stocks and 12.7% reduction in portfolio value. However, the changes made by the firm were not limited to just selling off some of their holdings. They also initiated new positions and increased or decreased their stakes in other companies.

Here is a summary of Water Asset Management's top holdings in Q3 and Q4 2019 and any changes made to these positions during this period:

1. Cadiz Inc (CDZI)

Water Asset Management reduced its stake in Cadiz by 75%, selling off 1.8 million shares between Q3 and Q4 2019. The current stake of the firm in Cadiz stood at around 695,576 shares with a value of $7.7 million.

2. Global Water Resources Inc (GWRS)

The firm held 407,152 shares of Global Water Resources in Q3, with a value of $4.8 million. However, in Q4, the company trimmed this position slightly by reducing its shareholding to 367,364 shares, with a value of $4.8 million.

3. Rexnord Corporation New (RXN)

Water Asset Management increased its stake in Rexnord Corporation, a leading manufacturer of motion control products and solutions. The firm's shareholding in the company increased by 25.4%, from 116,433 shares worth $3.1 million in Q3 to 121,073 shares worth $4 million in Q4.

4. SJW Group (SJW)

Water Asset Management reduced its stake in SJW Group by 16.7% in Q4, selling off 12,671 shares of the company to bring its total holding to 50,791 shares, worth $3.6 million.

5. Forterra Inc (FRTA)

The firm increased its position in Forterra Inc, a leading manufacturer of water and drainage pipes, by 34.6%. The firm held 369,149 shares of Forterra in Q3 with a value of $2.7 million, and by Q4, its shareholding had increased to 310,732 shares worth $3.6 million.

6. Aqua America Inc (WTRG)

Water Asset Management reduced its stake in Aqua America by 26.1% between Q3 and Q4 2019. The firm's shareholding in the company dropped from 74,981 shares worth $3.4 million in Q3 to 52,896 shares worth $2.5 million in Q4.

7. Artesian Resources Corporation (ARTNA)

Water Asset Management slightly increased its stake in Artesian Resources Corporation by 3.9%, bringing its total holding to 62,262 shares, with a value of $2.3 million in Q4.

8. Masco Corporation (MAS)

The company increased its shareholding in Masco Corporation by 20.9%, from 44,115 shares worth $1.8 million in Q3 to 46,325 shares worth $2.2 million in Q4.

9. American Water Works Co Inc New (AWK)

Water Asset Management slightly increased its position in American Water Works Co by 2.3%, bringing its total holding in the utility company to 16,877 shares, with a value of $2.1 million in Q4.

10. Mueller Water Products Inc (MWA)

The firm slightly increased its stake in Mueller Water Products, a leading manufacturer of water infrastructure, by 11.5%. The firm held 152,000 shares of Mueller Water Products in Q3, with a value of $1.7 million. By Q4, this had increased to 158,925 shares worth $1.9 million.

Water Asset Management made several other changes to its portfolio, which included trimming its position in Advanced Drainage Systems (WMS) by 100%, selling off its entire stake in the company. It also initiated new positions in Great Lakes Dredge & Dock Co (GLDD), Select Energy Services Inc (WTTR), and Companhia de Saneamento Basico (SBS).

In conclusion, Water Asset Management LLC has made some significant changes to its investment portfolio during the Q3 2019 to Q4 2019 period. The firm has reduced its number of holdings and portfolio value by around 12.8%. However, this is not an indication of a lack of confidence in the water sector. Rather, the changes made reflect a strategic adjustment in the firm's investment strategy. By buying more of some stocks, reducing others, and initiating new positions, the firm hopes to maximize returns while minimizing risks in a constantly changing market.