A Look at Performa Ltd's Q3 and Q4 2022 Holdings: Changes and Trends

Performa Ltd (US), LLC recently released their 13F holdings comparison report for Q3 2022 vs. Q4 2022, detailing changes in their investments over the course of the year. Let's take a closer look at Performa's portfolio and analyze the shifts in their holdings.

Introduction

Performa Ltd (US), LLC is an investment company that specializes in alternative investment strategies. As of Q4 2022, their portfolio was valued at $530,473,000, with several major holdings in exchange-traded funds (ETFs) and individual stocks. With the recent release of their 13F holdings comparison, we can see how Performa's investments have changed and evolved over time.

Main Body

Looking at Performa's top holdings, we see several ETFs that have remained consistent over the course of the year, such as the SPDR S&P 500 ETF (SPY) and the Vanguard 500 Index Fund ETF (VOO). However, there are also several holdings that have undergone significant changes in value and quantity, such as the Xtrackers USD High Yield Corporate Bond ETF (HYLB) and the VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL).

One trend that stands out in Performa's Q3 vs. Q4 report is the increase in their holdings for individual stocks. In Q3, individual stocks made up only 3.68% of their portfolio, compared to 10.43% in Q4. This shift is largely due to their investment in companies such as Oatly Group AB (OTLY), JetBlue Airways Corp (JBLU), and Docusign Inc (DOCU), all of which saw significant increases in shares held between Q3 and Q4.

Another trend in Performa's portfolio is the shift towards smaller market capitalization stocks. In Q3, their largest holding was the SPDR S&P 500 ETF, which tracks the top 500 companies in the US by market capitalization. However, in Q4, their largest holding shifted to the Vanguard 500 Index Fund ETF, which tracks the 500 largest companies in the US but has a lower average market capitalization than SPY. Additionally, Performa increased their holdings in several small-cap ETFs and individual stocks, such as the iShares Core S&P Small-Cap ETF (IJR) and Cardiovascular Systems Inc (CSII).

Performa's Q3 vs. Q4 report also reveals some interesting shifts in the option types they hold. They increased their call holdings in several stocks, such as JetBlue Airways Corp (JBLU) and Maravai Lifesciences Holdings Inc (MRVI), and added a new call holding in the Clover Health Investments Corp (CLOV). At the same time, they decreased their put holdings for several stocks, such as Okta Inc (OKTA) and SmartSheet Inc (SMAR).

Conclusion

Performa Ltd's Q3 vs. Q4 2022 holdings comparison offers valuable insights into how their portfolio has shifted over the course of the year. While they maintained several major holdings, such as the SPDR S&P 500 ETF and the Vanguard 500 Index Fund ETF, they also made significant changes to their individual stock holdings and increased their exposure to smaller market capitalization stocks. Additionally, their shifts in call and put holdings suggest a nuanced approach to options trading. As we move forward into 2023, it will be interesting to see how Performa's portfolio continues to evolve and adapt to changing market conditions.