Shifting Priorities: A Look at Ami Investment Management's Q3 and Q4 2022 Holdings

Investment management is an ever-changing industry, with fund managers constantly evaluating and re-evaluating their holdings to ensure they are achieving their desired outcomes. That's why it's always interesting to see how the holdings of funds have changed from one quarter to the next. In this blog post, we'll take a closer look at Ami Investment Management's Q3 and Q4 2022 holdings, and explore what might be behind the changes.

First, let's take a look at the fund's top five holdings in Q3 2022:

| Sym | Issuer Name | Option Type | Q3 2022 (SHARES) | Q3 2022 VALUE ($000) |

|-------|----------------------------|-------------|------------------|-----------------------|

| SCHX | SCHWAB STRATEGIC TR | | 176,087 | 7,457 |

| VGT | VANGUARD WORLD FDS | | 48,685 | 14,964 |

| BRK-B | BERKSHIRE HATHAWAY INC DEL | | 50,952 | 13,605 |

| VHT | VANGUARD WORLD FDS | | 39,938 | 8,934 |

| VCSH | VANGUARD SCOTTSDALE FDS | | 134,218 | 9,970 |

Now let's compare those to the top five holdings in Q4 2022:

| Sym | Issuer Name | Option Type | Q4 2022 (SHARES) | Q4 2022 VALUE ($000) |

|-------|----------------------------|-------------|------------------|-----------------------|

| VGT | VANGUARD WORLD FDS | | 48,623 | 15,530 |

| BRK-B | BERKSHIRE HATHAWAY INC DEL | | 45,525 | 14,062 |

| VHT | VANGUARD WORLD FDS | | 40,304 | 9,997 |

| VCSH | VANGUARD SCOTTSDALE FDS | | 132,468 | 9,960 |

| SCHX | SCHWAB STRATEGIC TR | | 175,138 | 7,907 |

There are a few things that stand out when comparing these two tables. First, the overall values of the holdings increased from Q3 to Q4. In Q3, the fund had a total value of $129,733 (in thousands of dollars), while in Q4 the total value was $139,113. That's an increase of roughly 7.2%.

Looking at the top holdings, we can see that there was a bit of shuffling around, but the top five remained largely the same. The biggest change was the drop in the number of shares held of BRK-B, which went from 50,952 in Q3 to 45,525 in Q4. That's a decrease of roughly 10.7%.

Another interesting change is the increase in holdings of certain companies. For example, JPMorgan Chase & Co (JPM) saw an increase of roughly 25.6% from Q3 to Q4. Johnson & Johnson (JNJ) also saw an increase, with the number of shares held rising by around 23.2%.

There were also a few companies that the fund completely dropped from its holdings in Q4. For example, Vanguard Scottsdale Fds (VGIT) was not held at all in Q3, but the fund acquired 115,494 shares in Q4, making it one of its top holdings. On the other hand, some companies that were previously in the top holdings, such as Liberty Broadband Corp (LBRDA) and Micron Technology Inc (MU), were completely dropped from the holdings in Q4.

So what might be behind these changes in holdings? One possibility is that the fund managers are constantly evaluating their holdings and making strategic decisions to adjust their positions based on market conditions. For example, the decrease in holdings of BRK-B might be due to concerns about the underperformance of Berkshire Hathaway recently.

Meanwhile, the increase in holdings of JPM and JNJ might be due to confidence in the future outlook of the financial and healthcare sectors, respectively. Ultimately, the reasons behind these changes can be difficult to pin down, as market conditions are constantly evolving and there are a multitude of factors that can influence the decisions of fund managers.

In conclusion, it's always interesting to see how holdings of funds change from one quarter to the next. Ami Investment Management's Q3 and Q4 2022 holdings offer a window into the decisions of fund managers and the constantly shifting priorities of the investment industry. While it's difficult to know exactly what's behind these changes, it's clear that the fund managers are constantly evaluating and re-evaluating their positions to ensure they are achieving their desired outcomes.