Exploring Sprucegrove Investment Management's Q3 and Q4 2022 Holdings

Sprucegrove Investment Management Ltd is a Toronto-based investment firm that has historically shown its prowess in managing international portfolios against global benchmarks. Over the last two quarters, the firm has adjusted its 13F holdings across the investment spectrum, which could reflect its insights into the ongoing market scenario. The latest 13F filings by Sprucegrove Investment Management Ltd reveal major changes to the portfolio of the fund. In this blog post, we will review the key changes made to the 13F holdings of Sprucegrove Investment Management Ltd between Q3 and Q4 of 2022. We will reflect on the changes made by the investment firm, explore possible reasons behind the changes, and attempt to uncover hidden insights that may help investors create or adjust their portfolios.

Samsung, Copa Holdings, and Ambev SA Remain Top Holdings

Despite the changes in holdings, Sprucegrove Investment Management Ltd still holds large positions in Samsung Electronic, Copa Holdings, and Ambev SA as per the Q4 2022 filing. Samsung Electronic, in particular, saw an increase in the number of shares held by the firm. This is a sign that the company is optimistic about Samsung's future and expected returns.

Major Stake Reduction in Exon Mobil Corp

Sprucegrove Investment Management Ltd reduced its stake in Exon Mobil Corp by 28.4% during the quarter. Although the amount of shares held is still substantial with over 122k shares, it is worth noting that this represents a significant reduction from Q3 2022. The reduction can be attributed to the weakness in the oil and gas sector, which has experienced a steep decline due to the COVID-19 pandemic and weak global demand for oil. This trend may continue considering the expected shift to renewable energy sources.

Raytheon and Meta Platforms Experience Significant Increase

Raytheon Technologies Corporation saw an impressive uptick in shares held by Sprucegrove Investment Management Ltd, with a total increase of 20% in the fourth quarter of 2022. This increase is a significant move and could be attributed to the increased defense spending recently passed by the US government, benefiting companies with exposure to the defense sector. Meta Platforms Inc. also experienced an impressive increase in its holdings with an 18.1% increase in shares held by Sprucegrove Investment Management Ltd. Meta Platforms Inc. is the parent company of Facebook, and it has been experiencing steady growth across its social media platforms, including Instagram and WhatsApp, which could explain the increased investment in the company.

Conclusion

It is essential to note that 13F filings only show a fraction of a company's total investments, and the reported positions can often be out of date or subject to change. Nonetheless, we can draw insights and cues from the reported positions of Sprucegrove Investment Management Ltd. In conclusion, Sprucegrove Investment Management Ltd has made notable changes to its portfolio of 13F holdings between Q3 and Q4 of 2022. The changes include a significant increase in Raytheon Technologies Corporation and Meta Platforms Inc., a major reduction in Exon Mobil Corp, and stable holdings in Samsung Electronic, Copa Holdings, and Ambev SA. Investors should keep a close eye on these and other stocks held by the firm in the coming quarters to uncover possible investment opportunities.