Covenant Asset Management, LLC Q1 2023 vs. Q2 2023 13F Holdings Comparison
Ava Hoppe | 25 July, 2023
Covenant Asset Management, LLC is a well-known investment firm that manages portfolios for various clients. One of the ways they track their investments is through a quarterly report known as the 13F filing. This report provides a snapshot of the firm's holdings and any changes that have occurred from one quarter to the next.
In this blog post, we will be looking at the Q1 2023 versus Q2 2023 13F holdings comparison for Covenant Asset Management, LLC. We will analyze the data provided and highlight the significant changes in the firm's holdings during this period. So, let's dive in and see what the numbers reveal.
Microsoft Corporation (MSFT)
Starting with the largest holding, we can see that Covenant Asset Management, LLC maintained a relatively stable position in Microsoft Corporation (MSFT). There was a minimal increase of 32 shares, indicating that the firm's confidence in this tech giant remains strong. The total value of the holding also saw a notable increase of $4,079, making it one of the top performers in terms of value appreciation.
Apple Inc (AAPL)
Next on the list is Apple Inc (AAPL), another tech giant that is no stranger to Covenant Asset Management, LLC's investment portfolio. The firm's holdings in Apple saw a slight decrease of 62 shares, suggesting a minor adjustment in their position. However, the value of the holding still increased by $2,981, indicating overall positive gains.
NVIDIA Corporation (NVDA)
Moving on to another major player in the tech industry, we have NVIDIA Corporation (NVDA). Covenant Asset Management, LLC's holdings in NVIDIA experienced a decrease of 391 shares, signaling a slight change in their stance on the company. However, this adjustment did not significantly impact the value of the holding, which increased by $4,450.
Amazon.com Inc (AMZN)
In the case of Amazon.com Inc (AMZN), Covenant Asset Management, LLC's holdings also saw a slight decrease of 971 shares. This reduction suggests a possible shift in the firm's strategy regarding the e-commerce giant. Nonetheless, the value of the holding increased by $2,460, demonstrating positive growth despite the change in position.
Chipotle Mexican Grill Inc (CMG)
Among the notable movers in Covenant Asset Management, LLC's holdings is Chipotle Mexican Grill Inc (CMG). The firm's holdings in Chipotle Mexican Grill experienced a significant decrease of 5,000 shares. This reduction resulted in a negative change in the value of the holding, which decreased by $6,387. It appears that the firm may have decided to reduce its exposure to this particular stock during this quarter.
The Trade Desk Inc (TTD)
Unlike Chipotle Mexican Grill Inc, Covenant Asset Management, LLC's holdings in The Trade Desk Inc (TTD) experienced a slight increase of 68 shares. This adjustment suggests that the firm may have increased its confidence in the ad tech company. The value of the holding also increased by $2,257, indicating positive growth within this investment.
ASML Holding NV (ASML)
Moving on to ASML Holding NV (ASML), Covenant Asset Management, LLC's holdings in this company saw a decrease of 279 shares. This reduction may have been influenced by a shift in the firm's investment strategy. Despite the decrease in shares, the value of the holding saw only a slight decrease of $689.
Merck & Co Inc (MRK)
Covenant Asset Management, LLC's holdings in Merck & Co Inc (MRK) remained relatively stable, with only a minor decrease of 200 shares. This reduction does not seem to have affected the firm's confidence in the pharmaceutical company, as the value of the holding stayed relatively unchanged.
Alphabet Inc (GOOGL)
In the case of Alphabet Inc (GOOGL), Covenant Asset Management, LLC's holdings remained stable with no significant changes in the number of shares held. The value of this holding increased moderately by $948, indicating positive growth.
Shopify Inc (SHOP)
Covenant Asset Management, LLC's holdings in Shopify Inc (SHOP) saw a slight increase of 766 shares, suggesting an increase in the firm's confidence in the e-commerce platform. The value of the holding also saw a significant increase of $1,836, indicating positive growth within this investment.
Overall, Covenant Asset Management, LLC's Q1 2023 versus Q2 2023 13F holdings comparison shows a mix of both stability and changes in their investment portfolio. While some holdings remained relatively stable, others experienced minor adjustments, reflecting the firm's active management approach. Despite these changes, the majority of the holdings saw positive growth in value, indicating a successful quarter for Covenant Asset Management, LLC.
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