Sterneck Capital Management Invests Heavily in Tech and Financials for Q1 2023

In its latest quarterly 13F filing with the SEC, Sterneck Capital Management, a prominent private investment firm, has revealed its holdings in several well-known companies, shedding light on its investment strategies and areas of interest.

The filing shows that the firm has made significant changes to its portfolio over the first quarter of 2023. Sterneck Capital Management has increased its holdings in technology and financial companies, while cutting back on investments in consumer-oriented industries. But before diving into the details of the report, let's take a brief look at the company's history.

Sterneck Capital Management, LLC was founded in 2007 by William Sterneck, a former senior executive at Goldman Sachs. The firm specializes in value-oriented investments, with a focus on long-term growth strategies. The company's investment approach is grounded in a disciplined, risk-adverse, and research-driven approach that seeks alpha-generating opportunities in the U.S stock markets.

Now, let us take a closer look at the company's Q1 2023 13F filings. As of March 31st, 2023, Sterneck Capital received regulatory approval to manage $1.2 billion in assets across its investment vehicles. The company's top three positions were in Apple, Invesco S&P 500 ETF, and SPDR Index Shares. Overall, technology and financials represented 40.5% and 30.3% of the fund's portfolio, respectively, while consumer defensive, health care, and real estate rounds up the remaining positions.

The report shows that Sterneck Capital Management increased its holdings in Apple, adding 399 shares and ended up with a total of 103,567 shares, with a value of $17,078,000, a move possibly motivated by the company's growth prospects, as Apple continues to innovate and expand with new products and services. This made Apple the top holding, in terms of value, in the portfolio. The firm also invested heavily In Invesco S&P 500 ETF and SPDR Index Shares, buying 573 shares and 998 shares, respectively, which shows the company's bullish sentiments about the market.

Another significant increase was made in JP Morgan Chase & Co., where Sterneck Capital increased its holdings in the stock by 86 shares to a total of 75,953 shares - this was motivated by the dividend yield and the potential for growth in the financial sector.

On the flip side, the firm sold 30,943 shares of FedEx, reducing its holdings in the company by 500 shares. We can infer that this may have been a result of the company's poor earnings performance in the previous quarter, as Sterneck Capital tends to take a long-term investment approach to its holdings. The firm also cut its position in social media companies such as Snap and Twitter, with both companies posting below-average performance in recent quarters.

In conclusion, the report reveals that Sterneck Capital Management's investment strategies continue to evolve, with the company placing higher emphasis on growth, particularly in tech and financials. However, the company remains disciplined, with investments rooted in long-term growth and value creation. This approach ensures that the company continues to generate sustainable returns for its clients, in line with its investment objectives.