Cooke & Bieler LP Q3 to Q4 2022 13F Holdings: Winners and Losers in the Portfolio

Cooke & Bieler LP, a registered investment advisor based in Pennsylvania, filed its 13F with the SEC, disclosing fund holdings as of Q3 and Q4 2022. The firm managed $7.62 billion in assets at the end of the quarter, and its 13F portfolio was valued at $6.94 billion. In this blog post, we will analyze the top holdings that the firm added and reduced in the portfolio from Q3 to Q4 2022.

Top Winners

Arrow Electronics (ARW): Cooke & Bieler increased its holding by 7.5% or 248,657 shares in Q4, and the stock now represents 5.05% of the portfolio. Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.

AerCap Holdings N.V. (AER): The firm added 668,286 shares to its holding, an 11% increase, and the stock now represents 5.17% of the portfolio. AerCap is a global leader in aircraft leasing and aviation finance.

State Street (STT): Cooke & Bieler added 107,361 shares, a 2.6% increase, to its holding of State Street. The stock now represents 4.66% of the portfolio. State Street provides financial services to institutional investors including investment servicing, investment management, and investment research and trading.

Top Losers

Arch Capital Group (ACGL): Cooke & Bieler reduced its holding of Arch Capital Group by 41.3%, selling off 3,770,434 shares. The stock now represents just 2.52% of the portfolio. Arch Capital is a Bermuda-based public limited liability company that writes insurance and reinsurance on a worldwide basis.

Perrigo Co PLC (PRGO): The firm sold off 735,870 shares of Perrigo, a 23.1% reduction in its holding. The stock now represents just 1.4% of the portfolio. Perrigo is an Irish-based pharmaceutical company that develops, manufactures, and distributes over-the-counter and prescription (RX) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API).

Synchrony Financial (SYF): Cooke & Bieler sold off 59,000 shares of Synchrony Financial, a 2.4% reduction in its holding. The stock now represents 1.46% of the portfolio. Synchrony Financial is a consumer financial services company headquartered in Stamford, Connecticut, United States.

Conclusion

Although there were some winners in the portfolio, the majority of changes made by Cooke & Bieler in Q4 2022 were to reduce holdings in various stocks. The reduction of Arch Capital and Perrigo Co were the largest changes, and both companies now represent a much smaller percentage of the overall portfolio. We will continue to monitor Cooke & Bieler's 13F filings for any significant changes in the future.