Congress Asset Management Co. Q4 2022 vs. Q1 2023: Analyzing the Changes in Holdings

Managing and monitoring a portfolio is a crucial aspect of every asset management company. Congress Asset Management Co. recently released its 13F holdings report for Q4 2022 and Q1 2023, which highlights significant changes in its holdings during these quarters. This report is a requirement for all institutional investment managers overseeing more than $100 million in qualifying assets. In this blog post, we will analyze the changes in holdings of the Congress Asset Management Co. and discuss their potential impacts.

Introduction

Congress Asset Management Co. is a prominent registered investment adviser based in Boston, Massachusetts. The company provides equity management and investment advisory services to its clients, including individuals, high-net-worth individuals, pension and profit-sharing plans, charitable institutions, and corporations. The company's investment philosophy focuses on long-term investments in high-quality companies with sustainable competitive advantages.

The 13F report by the Congress Asset Management Co. is an essential document that provides insights into the company's portfolio changes in a particular quarter. According to the latest 13F report, the company's total portfolio value increased from $10.7 billion in Q4 2022 to $11.4 billion in Q1 2023, indicating a 6.2% increase over the quarter.

Main Body

AAPL

One of the significant holdings of the Congress Asset Management Co. is Apple Inc (AAPL). The company's Q4 2022 report showed that it held 1,341,439 shares of Apple, valued at $174.3 million, while its Q1 2023 filing revealed that it held 1,351,254 shares, valued at $222.8 million, indicating a 27.8% increase. This increase in holdings indicates the company's confidence in the long-term growth potential of Apple and its ability to generate significant returns.

MSFT

Another notable increase in holdings was in the technology giant Microsoft, where Congress Asset Management Co. increased its holdings by 21% from Q4 2022 to Q1 2023. The company held 593,412 shares of Microsoft in Q4 2022, which increased to 597,258 shares in Q1 2023. The value of the holdings also increased from $142.3 million in Q4 2022 to $172.2 million in Q1 2023. The increase in Microsoft's holdings suggests that Congress Asset Management Co. is bullish on the technology sector and expects further growth in the future.

BJ

One of the significant changes in holdings was in BJ Wholesale Club. The company did not hold any shares in BJ Wholesale Club in Q4 2022, but in Q1 2023, it held 53,177 shares, valued at $1.0 million. By the end of Q1 2023, Congress Asset Management Co. added 1.3 million shares, valued at $101.8 million, indicating a staggering increase of 2795.5%. This significant increase in holdings shows that the company is highly confident in BJ Wholesale Club's growth potential.

UNH

The healthcare provider UnitedHealth Group Inc (UNH) is one of the significant holdings of Congress Asset Management Co. However, the company decreased its holdings by 11.5% from Q4 2022 to Q1 2023. In Q4 2022, the company held 268,409 shares of UNH, valued at $142.3 million, while in Q1 2023, it held 266,394 shares, valued at $125.8 million. The decline in holdings indicates some doubt over the company's prospects, which Congress Asset Management Co. hopes to resolve by decreasing its exposure to the stock.

Conclusion

The Congress Asset Management Co. 13F report provides insight into the company's portfolio changes, including additions, reductions, and completions, made in Q4 2022 and Q1 2023. The report revealed the company's bullish sentiment towards the technology sector, increased holdings in Apple, Microsoft, and BJ Wholesale Club, and a decline in healthcare provider UnitedHealth Group Inc. Understanding these changes is crucial for investors as it enables them to make informed decisions on where to invest their money in the future.