Palisades Hudson Asset Management, L.P. Q4 2022 vs. Q1 2023: A Review of the Fund's Holdings

Palisades Hudson Asset Management, L.P. has recently announced its Q1 2023 13F holdings, providing insights into the fund's current portfolio. These filings are required of institutional investment managers with assets under management of more than $100 million, providing transparency to investors and the public. In this article, we will delve into the holdings comparison between Q4 2022 and Q1 2023, exploring the gains and losses made by Palisades Hudson Asset Management, L.P.

Looking at the data, we can see a slight decrease in the fund's total shares, falling from 1,165,542 to 1,135,780. However, the value of those holdings rose from $125,557 in Q4 2022 to $129,165 in Q1 2023. This increase in value is driven largely by the gains made by big-name tech companies, as well as the continued success of the S&P 500.

As expected, Palisades Hudson Asset Management, L.P. has continued to hold shares in some of the biggest companies in the world. This includes tech giants such as Apple Inc, Microsoft Corp and Amazon Com Inc; financial institutions such as Visa Inc and Goldman Sachs Group Inc, and consumer staples like McDonalds Corp and Yum Brands Inc.

It's interesting to note the fund's reduction in holdings in Pfizer Inc, which saw shares drop from 10.6 million to 9.7 million, representing a significant decline in holding value from $54.4 million to $39.6 million. Similarly, PNC Finl Svcs Group Inc reduced from 3.4 million to 3.1 million shares, with a holding value reduction of $98.94 million to $39.6 million. This indicates a shift in focus towards other investment opportunities, with Palisades Hudson Asset Management, L.P. likely looking to capitalize on other, more promising options.

On the flip side, we see an increase in holdings for companies such as Nvidia Corp, NuShares ETF Trust, and Elevance Health Inc. Nvidia Corp saw a significant jump in shares held, rising from 4,047 to 11,247, equaling a holding value of $591.6 million in Q1 2023. NuShares ETF Trust also increased from 16.4 million to 24.7 million shares, with a notable holding value increase of $56.1 million to $87.6 million. Elevance Health Inc was also a winner, increasing in holding value from $699.6 million to $783.9 million.

It's also worth mentioning the fund's newfound position in Weyerhaeuser Co, which was not present in the Q4 2022 filings but was seen in Q1 2023 with 10.9 million shares valued at $328.27 million. This unexpected addition shows that Palisades Hudson Asset Management, L.P. is willing to take chances on new investment options while also embracing changes in economic and market trends.

With the economic landscape ever-evolving, it's evident that Palisades Hudson Asset Management, L.P. continues to optimize its portfolio composition to better serve its investors. By carefully considering the trends and changes across multiple industries, the fund stands poised to continue its progress and success.