The Rise and Fall of Cornerstone Investment Partners: A Q4 2022 vs. Q1 2023 Holdings Comparison

Cornerstone Investment Partners, LLC is a well-known hedge fund based in the United States with a focus on investing in small and mid-cap companies. Every quarter, hedge funds with more than $100 million in assets under management are required to disclose their long positions in publicly traded companies. This filing, known as a 13F, is a valuable source of information for investors looking to track the moves of some of the world's most successful investors.

In this article, we will analyze the Q4 2022 vs. Q1 2023 13F holdings of Cornerstone Investment Partners, LLC to identify changes in their portfolio. Our analysis will focus on the top holdings that have seen significant changes in the number of shares and the overall value of the position between these two quarters.

One of the standout holdings in Cornerstone Investment Partners' portfolio is Alphabet Inc. Class A (GOOGL). The fund held 647,645 shares of Alphabet in Q4 2022, which decreased to 617,092 shares in Q1 2023. However, the value of the position remained relatively stable, dropping only marginally from $57,141,000 to $64,010,000. This represents a 12% change in the number of shares held, but only a 10% change in the overall value of the position.

JPMorgan Chase & Co. (JPM) is another top holding that saw a decline in the number of shares held by Cornerstone Investment Partners between Q4 2022 and Q1 2023. The fund held 536,848 shares of JPMorgan in Q4 2022, which decreased to 506,390 shares in Q1 2023. The value of the position also saw a decline, dropping from $71,991,000 in Q4 2022 to $65,987,000 in Q1 2023. This represents an 8.3% decline in the number of shares held and a 8.3% decline in the overall value of the position.

The Kraft Heinz Company (KHC) is one holding that saw a significant decline in both the number of shares held by Cornerstone Investment Partners and the overall value of the position between Q4 2022 and Q1 2023. The fund held 47,828 shares of Kraft Heinz in Q4 2022, which decreased to 41,679 shares in Q1 2023. The value of the position also saw a decline, dropping from $1,947,000 in Q4 2022 to $1,611,000 in Q1 2023. This represents a 13.1% decline in the number of shares held and a 17.2% decline in the overall value of the position.

While many of Cornerstone Investment Partners' holdings saw declines in the number of shares held and the overall value of the position, some holdings saw increases. This includes Meta Platforms, Inc. (META), which saw a 66.9% increase in the overall value of the position held by the fund. The number of shares held by Cornerstone Investment Partners in Meta Platforms increased from 237,815 in Q4 2022 to 225,423 in Q1 2023. The value of the position also saw an increase, jumping from $28,618,000 in Q4 2022 to $47,776,000 in Q1 2023.

In conclusion, while some holdings in Cornerstone Investment Partners' portfolio saw declines in both the number of shares held and the overall value of the position, other holdings saw increased interest from the fund. Alphabet Inc. Class A and JPMorgan Chase & Co. were among the holdings that saw declines, while Meta Platforms, Inc. saw significant gains in value. It will be interesting to see how these holdings continue to perform in the coming quarters and whether Cornerstone Investment Partners will make any further changes to its portfolio.