Analyzing Shepherd Kaplan Krochuk's Q4 2022 13F Filings: Changes in Holdings and Investment Strategy Insights

Investors and analysts alike track the holdings of mutual funds and other institutional investors to identify trends in the market and particular sectors. The 13F filings, required by the Securities and Exchange Commission (SEC) of institutional investors managing over $100 million in assets, offer an insight into investors' decision-making processes.

In this article, we will review the changes in holdings of Shepherd Kaplan Krochuk, LLC, a Boston-based institutional investor between Q3 2022 and Q4 2022, as outlined in its 13F filings. The holdings will be analyzed based on the changes in the number of shares held, their value, and percentage change to provide insights into the fund's investment strategy.

First, EQT CORP (EQT) maintains its position as the highest holding of Shepherd Kaplan Krochuk, LLC, with unchanged positions of 478,207 shares and an unchanged value of $19,487,000. However, there was a 17% reduction in the value of its holding of EQT when compared to Q3 2022.

The second-highest holding, California Res Corp (CRC), also remained unchanged at 303,500 shares and an increased value of $13,205,000, reflecting a 13.2% increase compared to Q3 2022, indicating that the fund has high confidence in the stock's prospects.

However, there were some significant changes in the fund's third-highest holding, VANECK ETF TRUST (ANGL). Shepherd Kaplan Krochuk LLC sold 17,960 shares, representing a 3% reduction in the number of shares held, and its value decreased by $244,000 or 3%, ending with 288,741 shares valued at $7,801,000. This reduction could be attributed to a change in the fund's investment philosophy, which prioritized other stocks or sectors.

Another sizable reduction was seen in INVESCO EXCH TRADED FD TR II (SPLV), which saw a reduction of 28,095 shares or 20% in the number of shares held, with an accompanying 11.9% reduction in value, implying a bearish sentiment towards the stock going forward.

The fund's holding of APPLE INC (AAPL) increased slightly, with an additional 553 shares, bringing the total number to 49,886 shares, but its value decreased by 4.9%, reflecting a reduced stake in the tech giant.

The fund's seventh-largest holding, ISHARES TR (MTUM), saw a substantial increase with the acquisition of an additional 7,287 shares, an increase of 20% in the number of shares held, and a 34.1% increase in value, indicating the fund's bullish stance on the technology and growth sectors.

Further analysis shows that SCHWAB STRATEGIC TR (SCHV) remained virtually unchanged, with a marginal 3.4% reduction in value, while CAMPBELL SOUP CO (CPB) saw a 20.4% value increase, indicating the fund's confidence in the food and beverage sector. Meanwhile, JPMORGAN EXCHANGE-TRADED FD TR (JQUA), with 1,029 fewer shares, still retained the 14th spot in the fund's portfolio.

NABORS INDUSTRIES LTD (NBR) witnessed a massive 52.7% value increase in holdings, indicating the fund's bullish stance on the energy sector. Moreover, CALLON PETE CO DEL (CPE) witnessed a 5.9% increase in value, with the fund holding 65,700 shares at the end of the period.

However, Energy Transfer L P (ET) saw only a 4.1% increase in value with 274,337 shares held. At the same time, CARDINAL HEALTH INC (CAH) witnessed an increased value of 7.9%, even with the fund holding 1,335 fewer shares than in Q3 2022.

At the lower end of the holdings, notable changes were seen in BERKSHIRE HATHAWAY INC DEL (BRK-B), with a 44% decrease in value, and NETFLIX INC (NFLX), with a 25.4% increase in value. SPDR GOLD TR (GLD) saw a massive 151.9% value increase, reflecting the fund's confidence in the precious metals sector.

In conclusion, Shepherd Kaplan Krochuk, LLC, maintained a diversified portfolio during Q3 2022 and Q4 2022 by holding stocks across several sectors. The fund reduced its holdings in some companies, while augmenting its position in others, implying confidence in those companies' growth prospects. The fund's prominent holdings in EQT Corp and California Res Corp remained stable, whereas the standouts included growth and technology stocks such as ISHARES TR and NABORS INDUSTRIES LTD. Overall, the fund's investment strategy appears to be cautious, focusing on the emerging trends and their ability to withstand market volatility.