Redmond Asset Management, LLC Q4 2022 vs. Q1 2023: A Closer Look at Top Holdings

Redmond Asset Management, LLC is a privately-owned investment management firm that specializes in delivering personalized solutions to a wide range of high-net-worth individuals and institutions. As part of its regulatory reporting obligations, the firm recently disclosed its 13F holdings for Q4 2022 and Q1 2023, which provides insights into its investment strategy and portfolio changes. In this article, we will take a closer look at some of the top holdings of Redmond Asset Management, LLC and examine the changes in its portfolio over the two quarters.

Chevron Corporation (CVX)

Chevron Corporation is one of the largest energy companies in the world, engaged in exploration, production, and refining of crude oil and natural gas. Redmond Asset Management, LLC increased its holdings in Chevron by 475 shares (0.44%) from Q4 2022 to Q1 2023. However, the value of its holdings declined by 8.7% from $19,166,000 to $17,500,000 during the same period. This suggests that Redmond Asset Management, LLC reduced its exposure to Chevron due to the decline in oil prices during the period.

Markel Corporation (MKL)

Markel Corporation is a diversified holding company that owns subsidiaries engaged in diverse businesses including insurance, investment, and real estate. Redmond Asset Management, LLC reduced its holdings in Markel by 143 shares (2.31%) from Q4 2022 to Q1 2023. Its value decreased by 5.3% from $8,132,000 to $7,702,000. This may suggest that Redmond Asset Management, LLC had concerns about the company's financial performance and potential risks associated with its diversified business model.

Cogent Communications Holdings (CCOI)

Cogent Communications Holdings is a multinational internet service provider that offers on-net internet access and data transport services to more than 200 cities worldwide. Redmond Asset Management, LLC increased its holdings in Cogent Communications by 715 shares (0.64%) from Q4 2022 to Q1 2023. Its value increased by 12.4% from $6,343,000 to $7,127,000. This suggests that Redmond Asset Management, LLC remains bullish on the prospects of the company despite potential regulatory risks and competition in the industry.

JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. is a multinational investment bank and financial services company that provides various financial products and services to corporations, governments, and individuals worldwide. Redmond Asset Management, LLC reduced its holdings in JPMorgan Chase by 1,248 shares (2.36%) from Q4 2022 to Q1 2023. Its value declined by 5.1% from $7,089,000 to $6,726,000. This may suggest that Redmond Asset Management, LLC had concerns about the potential risks associated with the company's exposure to the volatile global financial markets.

Watsco, Inc. (WSO)

Watsco, Inc. is a distributor of air conditioning, heating, and refrigeration equipment and related parts and supplies in the United States. Redmond Asset Management, LLC increased its holdings in Watsco by 66 shares (0.31%) from Q4 2022 to Q1 2023. Its value increased by 28% from $5,255,000 to $6,724,000. This suggests that Redmond Asset Management, LLC is positive about the growth potential of the HVAC industry and sees Watsco as a good way to capitalize on this trend.

Conclusion

Redmond Asset Management, LLC's recent 13F filings reveal a mixed picture of its investment strategy and portfolio changes. While the firm has increased its holdings in some companies, it has reduced its exposure to others. This could be due to changes in the market conditions, company-specific risks, or the firm's evolving investment objectives. Overall, investors can use this information as one of the factors to consider when making their investment decisions and to gain insights into the investment strategies of high-net-worth individuals and institutional investors.